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The Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries, which is organised by the Ministry of Commerce of the Central People's Government and hosted by the Macao Special Administrative Region Government, is an official, non-political platform for promoting international economic co-operation and development. It aims to strengthen trade and economic exchanges between China and Portuguese-speaking countries while making use of Macao's role as a bridge between the two sides, thereby facilitating the common development of China, Portuguese-speaking countries and Macao. Forum members consist of China and Lusophone countries, namely Angola, Brazil, Cape Verde, Guinea Bissau, Mozambique, Portugal and Timor-Leste. As China continues to push ahead with economic reforms, full participation in global economic co-operation has become China's economic development approach. Portuguese-speaking countries, which spread over five continents with their respective geographical advantages and boast rich natural resources and a combined consumer market of 200 million people, offer great potential for complementary co-operation for the Chinese economy. Founded in 2003, the Forum has held three ministerial conferences and the fourth one is being held in Macao during 5-6 November 2013. Over the last decade, the hosting of the Forum and the measures rolled out during the meetings have strengthened economic and trade co-operation between China and Portuguese-speaking countries, with Macao serving as a bridge between the two sides. As a result, the common development of the Mainland China, the Macao SAR and Portuguese-speaking countries are greatly bolstered. The First Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries was held in Macao over 12-14 October 2003. Ms Wu Yi, then Vice Premier of the State Council, came to Macao to officiate at the opening of the Forum, which was attended by trade ministers of China and seven Portuguese-speaking countries. The Action Plan for Trade and Economic Cooperation was signed at the end of this Forum, establishing a formal framework for cooperation between the participating countries in the fields of intergovernmental exchanges, investment and commercial co-operation, trade, agriculture and fishery, infrastructure, as well as natural and human resources development. The first Forum also decided to set up a follow-up mechanism and establish a permanent secretariat in Macao to provide the necessary logistical support and finances to help implement the proposed plans and projects. The second and third ministerial conferences of the Forum were held in Macao in September 2006 and November 2010 respectively. The two meetings were officiated by then Secretary General of the State Council, Mr Hua Jianmin, and then Premier of the State Council, Mr Wen Jiabao, respectively. The second Forum explored the theme of sustainable development and discussed ways to help enterprises in the Mainland, Macao and Portuguese-speaking countries to grasp business opportunities arising from the Forum. Another three-year action plan for economic cooperation was signed during this meeting. During the third Forum, the participating countries signed the Action Plan for Economic and Trade Cooperation 2010-2013, which outlined more projects and clearer objectives compared with the action plan in 2006. The third action plan added co-operation initiatives in the fields of education, finance, tourism, transport, communications, culture, broadcasting, sport, health and technology. It also proposed to achieve a bilateral trade volume of US$100 billion between China and Portuguese-speaking countries by 2013. The Macao Training Centre of the Forum was also inaugurated. Then Premier Wen Jiabao also announced six measures to promote Sino-Portuguese ties during the third Forum. These measures included: the establishment of a US$1 billion co-operation and development fund between China and Portuguese-speaking countries; provision of 1.6 billion Yuan in concessional loans to the Asian and African members of the Forum; training 1,500 officials and technical personnel for the Asian and African members of the Forum; provision of materials, equipment, technical personnel and other support for one bilateral agricultural project in each Asian and African member of the Forum; provision of 1,000 one-year government scholarships to students from the Asian and African members of the Forum; and provision of medical equipment worth 10 million Yuan to each Asian and African member of the Forum. According to official statistics, bilateral trade between China and Portuguese-speaking countries stood at US$5.6 billion in 2002; the figure hit US$10 billion in 2003 when the Forum was founded. By 2008, bilateral trade already reached US$77 billion, realising the goal of exceeding US$50 billion one year ahead of schedule. In the first nine months of 2010, bilateral trade exceeded US$68 billion, a surge of 57 percent compared with the same period of the previous year. In 2012, the total value of exports and imports between China and Portuguese-speaking countries was US$128.497 billion, a year-on-year rise of 9.6 percent. In the first eight months of 2013, the figure stood at US$86 billion, a year-on-year decrease of 0.31 percent. Since the establishment of the Forum, bilateral investments between China and Portuguese-speaking countries have surged rapidly. At present, over 800 enterprises have been set up in China by investors from Portuguese-speaking countries. The rise in bilateral investments has greatly boosted economic growth on both sides. Meanwhile China has provided a total of 4 billion Yuan in concessional loans to Angola, Cape Verde, Guinea Bissau, Mozambique and Timor-Leste over the past decade. The Cooperation and Development Fund between China and Portuguese-speaking Countries, which is proposed by the Chinese government and jointly undertaken by the China Development Bank and the Industrial and Commercial Bank of China (Macao), was formally inaugurated on 26 June 2013. The fund's initial capital stands at US$125 million and are jointly provided by China Development Bank Capital Corp and the Industrial and Commercial Development Fund of Macao. The fund is run and managed by the China-Africa Development Fund under the China Development Bank. The 4th Ministerial Conference of the Forum, which is being held in Macao, aims to further bilateral talks and boost joint development of China and Portuguese-speaking countries.
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New directions, areas and styles have been confirmed for economic and trade co-operation between China and the Portuguese-speaking countries from 2014-2016. This was announced by the Minister of Commerce of the People's Republic of China, Mr Gao Hucheng, at a press conference in Macao today after the signing of the new Action Plan by representatives of China and the Portuguese-speaking countries at the 4th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries. Highlights of the 2014-2016 Action Plan include striving to push the volume of trade between China and the Portuguese-speaking countries to US$160 billion by 2016, to increase the speed of mutual investment in the next three years; to strengthen the investment environment by making use of the Forum as platform; to enhance the co-operation in teaching Portuguese and Chinese, to step up training to widen the human resources pool; to foster co-operation between financial institutions, and to boost the promotion of the special fund for co-operation and development between China and Portuguese-speaking countries. Mr Gao also said that six measures, which were agreed in the 3rd Ministerial Conference, had been successfully achieved. Moreover, he said that the present of the central government has the same high regards for co-operation with the Portuguese-speaking countries. The Vice Premier, Mr Wang Yang, announced eight new eight measures which he said he believed would bear more results in the next Forum and Macao's increasing role as trade and business platform for China and the Portuguese-speaking countries will be once again be confirmed.
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The new campus of the University of Macau (UM) was officially inaugurated today (5 Nov.) at the University Hall. Around 500 participants, including Vice-Premier Wang Yang, officials from the Guangdong government,the chief executive of the Macao SAR, dignitaries, guests, UM staff, students and alumni representatives attended the occasion to witness this historic moment.Apart from plaque unveiling by Vice-Premier Wang Yang, the chief executive, the chairman of the University Council of the University of Macau, and the student representative also gave their speeches. The inauguration was officiated by Mr Wang Yang, vice-premier of the State Council of PRC, Mr Chui Sai On, chief executive of the Macao SAR - cum- chancellor of UM, Mr Ho HauWah, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), DrTse Chi Wai, chairman of the University Council of UM, and Professor Wei Zhao, rector of UM. The ceremony was declared open by Professor Zhao. Accompanied by Mr Chui Sai On, Mr Wang Yang unveiled the plaque, which marked the official inauguration of the new campus and a new chapter of UM's history. It was truly an unforgettable moment for all the applauding audience. In his speech, Mr Chui Sai On said that thanks to the full support of the central government, UMwas able to build a modern campus in three years' time on a 1.09 sq km plot of land in Hengqin, with the Macao SAR exercising its jurisdictionthereover. . The planning, construction and inauguration of the new campus testified eloquently the support of the central government and the importance it attached to Macao's education. The UM'sNew Campus Project was not only an exemplary case of the Guangdong-Macao cooperation, but was also one of the strategic plans of the talent nurturing enterprise. On the other hand, the central government supported the New Campus Project, and in generalMacao's higher education,with land provision and policy. The government of the Macao SAR would make the best of the UM new campus to enhanceeducation and research and promote the long-term development of local education. 'With the new campus launched, I am happy to say that the days when UM's development was restricted due to lack of space are now gone,' said DrTse Chi Wai in his speech. 'From now on, with support from the government and the community, we will continue to strive to realize the other top-notches on former President Hu Jintao's expectations list.' He thanked the various parties who had contributed themselves to the New CampusProject, including the central government, officials of the relevant provinces, municipalities and districts, the business sectors and communities of Macao and Hong Kong, the chief designer Academician He Jingtang and his design team, the contractor Nam Yue Group, as well as the tens of thousand workers who had worked tirelessly on the construction site over the past three years. UM would live up to the expectations of all its supporters and would make the best of this golden opportunity for its future development. The student representative Chan Ka Man stressed that while the society of Macao and UM were undergoing an unprecedented transformation, as students of UM, they would be guided by their passion and devotion so that they could make a difference to their alma mater, the community and the nation. She then expressed her gratitude to the central and local governments for their support of UM. 'Now we'll be able to learn and grow on a much better campus,' she said. The ceremony closed in a climax when the UM anthem was played by the UM Symphonic Band and chorused by the UM Choir and sung by the entire audience and. After the ceremony, the guests of honourvisited the Residential Colleges where the vice-premier talked with the students to undertand more their college life and study. He was impressed with the environment of the new campus.
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Accompanied by the Chief Executive, Mr Chui Sai On, Chinese Vice Premier Mr Wang Yang today presided over the inauguration of the new campus of the University of Macau at Hengqin. When he spoke at the 10th anniversary celebrations of the establishment of the Macao Special Administrative Region, Mr Chui said that with the full backing of the Central Government, the University of Macau would be relocated to Henqin. Now three years on, the University has become a reality. Mr Chui said today that throughout the whole process of the planning, construction and the launch of the campus, the Central Government was very much concerned with the development of Macao's education. Meanwhile, it also showed the other success story made possible by a close co-operation between Guangdong and Macao. Mr Chui also said that by fully supporting the development of the new campus, the Central Government had actually provided invaluable resources for the future growth of higher education of Macao through measures such as providing the land. Mr Chui said Macao will make full use of the new campus to achieve the educational goals of pushing for the building of a sustainable and effective education system, to enhance education and research quality, and to develop a sound higher education for Macao. The Chair of the University Council, Dr Tse Chi Wai, said in his speech that it all began on 27 June 2009 when the Standing Committee of the National People's Congress gave unprecedented approval for the University of Macau to build a new campus on Hengqin Island, and allowed the Macao SAR to exercise jurisdiction over it. He said that on 20 December 2009, then Chinese President Hu Jintao officiated at the ground breaking ceremony of the new campus. Then on 20 July 2013, with the opening of the tunnel link giving Macao a direct underwater link and at the same time jurisdiction over the new campus, the institution on Hengqin became an integral part of the Macao SAR. The new campus project was by all accounts an ingenious endeavour under the "One country, Two systems" framework. The Vice Premier and his entourage toured the residential hall after the inauguration to find out more about students'lives on the campus, then returned to the Mainland via the Lotus Border crossing.
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The 4th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries opened in Macao today with ministers representing participating countries addressing the gathering and highlighting the importance of the Forum. The Prime Minister of Guinea-Bissau, Mr Rui Duarte Barros, was the first to speak at today's Forum: he stressed that it was his country's goal to develop a true strategic partnership with China. Mr Barros added that Guinea-Bissau was doing its best to improve conditions for attracting and protecting Chinese private investors. The Vice President of Brazil, Mr Michel Temer, said the establishment in Macao of the Small and Medium-sized Enterprises Commercial Services Centre for Portuguese-speaking Countries was vital to achieving the goal of achieving US$160 billion in bilateral trade between China and Lusophone countries by 2016. Deputy Prime Minister of Portugal, Mr Paulo Portas, spoke highly of the work of the Forum, which demonstrated China's recognition of the global strategic significance of Portuguese-speaking countries. Mr Portas also underlined Macao's role as a bridge between the two sides, adding that the Cooperation and Development Fund between China and Portuguese-speaking Countries would serve as an important platform for spurring exchanges between enterprises on both sides. Deputy Prime Minister of Timor-Leste, Mr Fernando de Araújo, told the gathering that his country's current stability was attributed to the support of the global community as well as bilateral partners, highlighting the fact that Timor-Leste saw China as one of its most important strategic partner. The Minister of Justice and Human Rights of Angola, Mr Rui Mangueira, noted that as the Forum continued to grow in scale and scope, it had already become indispensable in economic exchanges among the participating countries. The Minister of Tourism, Industry and Energy of Cape Verde, Mr Humberto Santos de Brito, said his government had full confidence in the prospect of the Forum and he believed this innovative mechanism would help enhance the potential of every member country. For his part, the Minister of Foreign Affairs of Mozambique, Mr Oldemiro Balói, pointed out that his country had benefited greatly from the scholarships offered by Macao and China since the founding of the Forum. Mr Balói said the training provided to Mozambicans by Macao and China had improved the manpower of Mozambique and promoted the country's sustainable development.
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The 4th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries opened today at the Macao East Asia Dome where the Chinese Vice Premier, Mr Wang Yang, delivered a keynote speech at the opening ceremony. The ceremony was presided by the Minister of Commerce of the People's Republic of China, Mr Gao Hucheng, who said that the Forum has been an important platform to deepen the mutually beneficial co-operation and development between China and the Portuguese-speaking Countries. He stressed that, under the theme of "New Starting Point, New Challenges", the 4th Forum would further boost the trade and business co-operation between China and the Portuguese-speaking Countries. Vice Premier Mr Wang reviewed the achievements of the Forum over the past decade and said actions have proved that China and the Portuguese-speaking Countries are partners in developments of mutual benefit. He said future co-operation between China and the Portuguese-speaking Countries would become broader and deeper, then announced the eight new measures to bolster co-operation. Prime Minister of Guinea-Bissau, Mr Rui Duarte Barros, the Vice President of Brazil, Mr Michel Temer, Deputy Prime Minister of Portugal, Mr Paulo Portas, Deputy Prime Minister of Timor-leste, the Minister of Justice and Human Rights of Angola, Mr Rui Mangueira.Mr Fernando de Araújo, the Minister of Tourism, Industry and Energy of Cape Verde, Mr Humberto Santos de Brito, and the Minister of Foreign Affairs of Mozambique, Mr Oldemiro Balói also delivered speeches. Some 980 guests at the ceremony included representatives from the Chinese Government, the Portuguese-speaking Countries, Hong Kong and Macao Affairs Office of the State Council, the Liaison Office of the Central People's Government in the Macao Special Administrative Region, members of the Executive Council, Legislative Assembly, business associations and entrepreneurs.
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Macau Government Tourist Office (MGTO) is exhibiting at World Travel Market, an event inaugurated in London, the United Kingdom (UK) this week, to promote Macau's diverse tourism products, culinary delights and multi-destination tours. Through participation in the show, the Office aims to encourage more visitations from Europe to Macau. World Travel Market (WTM) is staged at the ExCel London exhibition centre from 4 – 7 November. The MGTO booth is located within the Asia section to showcase Macau's unique blend of East and West cultures under the theme "Touching Moments, Experience Macau". MGTO's Marketing Division and UK representative attend WTM 2013 among others. On the event's inauguration day, MGTO and Hong Kong Tourism Board (HKTB) again co-hosted an on-stand cocktail reception which featured special delicacies from both destinations. The invited guests include the acclaimed food writer and celebrity chef in the UK, Ching-He Huang, who returned lately from a culinary journey of discovery filmed in both Macau and Hong Kong. The event provides a great networking opportunity for travel trade professionals and members of the press to gather and learn more about Macau and Hong Kong in a relaxed ambience. It also serves as a chance to promote both cities' gourmet and multi-destination itineraries. MGTO is also unveiling a new "How to Sell Macau" guide in partnership with ABTA Magazine at WTM 2013. Introducing Macau's top ten experiences and one to three day itineraries in Macau along with practical travel tips, the guide helps UK trade to sell Macau more effectively. UK travel agents are also encouraged to visit the MGTO stand to learn more about the fascinating destination throughout the show. As one of the annual global events for the travel industry, World Travel Market welcomes close to 50,000 travel industry professionals this year. Capitalizing on the WTM platform, MGTO seeks not only to raise the destination's profile in the international travel industry but also to encourage more visits to Macau from the UK and European long-haul market. MGTO has always been dedicated to promoting Macau's attractions and positioning as a World Centre of Tourism and Leisure while striving to consolidate and expand the tourism market across the globe in order to promote diversity among visitors to Macau.
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Chinese Vice Premier Mr Wang Yang announced eight new measures to help developing Portuguese-speaking countries and to promote Sino-Portuguese ties in his keynote speech at the 4th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries which opened in Macao this morning. The eight measures are: First, the Chinese government will continue to provide RMB1.8 billion in concessional loans to Asian and African members of the Forum in order to support their economic and social development, with priority given to infrastructure facilities and production projects. Second, the Chinese government will share its successful experience with Portuguese­speaking countries in the development of special economic zones and development zones, encourage Chinese companies to establish overseas trade and economic co-operation zones in interested Portuguese-speaking countries on the principle of independent decision-making and market-driven operation, and work together with these countries to advance the development of the co-operation zones. Third, the Chinese government will help build one education and training facility, provide one set of radio, television and media equipment, and develop one solar lighting project for each Asian and African member of the Forum. Fourth, the Chinese government stands ready to strengthen its co-operation and exchanges with Portuguese-speaking countries in human resources development based on the respective advantages of the participating countries of the Forum. China will arrange training sessions in China for 2,000 people in various fields from Asian and African members of the Forum, including programmes for working postgraduates. China will also bring into full play Macao's role as a platform for co-operation and carry out training in these countries according to their actual needs. Fifth, the Chinese government will provide a total of 1,800 scholarships to Portuguese­speaking countries to encourage and support student exchanges between the two sides. Sixth, the Chinese government will continue its exchanges and co-operation with Portuguese-speaking countries in medicine and health, and send another 210 medical professionals to Asian and African members of the Forum in the next three years. Seventh, an information-sharing platform to be based in Macao for bilingual talent and business cooperation, exchange and interaction between China and Portuguese-speaking countries, will be set up to facilitate exchange and co-operation among talent and businesses in all sectors. Eighth, based on the Forum's mission to promote co-operation and common development of all participating countries, and with full respect for their willingness, the Chinese government will discuss trilateral co-operation projects with Portuguese­speaking countries with the priority on education and training, agriculture, environmental protection, and new energy, so as to promote economic development in all participating countries. In closing, Mr Wang said the Forum has greatly enhanced the development of trade and economic co-operation between China and Lusophone countries over the past decade. The Vice Premier also recognised Macao's role as a trade and services platform between China and Portuguese-speaking countries over the same period.
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Aiming at strengthening exchange and cooperation between Macao and Beijing, the Cultural Affairs Bureau (IC) is organizing the participation of Macao's cultural and creative entities in the 8th China Beijing International Cultural & Creative Industry Expo 2013 (ICCIE). To be held from November 7 to 10 at the China International Exhibition Center. The "Macao Pavilion" will be set up at the ICCIE for onsite showcase of the city's creative panorama and sales of creative products. With the theme of "culture and technology joint development", ICCIE 2013 aims to bring together high-end technology and products of cultural and creative contents from home and abroad, through exhibitions, displays, performances, creative events, business presentations and transactions, forums and summits. Its objective is to build a significant platform for industries on information exchange, commodity transaction and project cooperation. The ultimate goal is to provide cultural and creative products a wider field for the commercial, industrial and international expansion, thereby turning ICCIE into a global cultural and creative hub blending creativity, technology and culture. The "Macao Pavilion", with an area of 243 square meters, will be set in the Cultural and Creative Industries Exhibition Area. The theme and design concept will pursue the "Macao Pavilion" presented at the China International Cultural Industries Fair, held in Shenzhen in May 2013, in an attempt to introduce Macao's World Heritage to Beijing audiences, while showcasing its cultural and creative thematic products. The 5-metre-high pavilion draws on 3D geometrics, bright colors, as well as Macao World Heritage and cultural and creative elements to highlight the SAR as a vibrant, culturally diverse city. Besides presenting the history and features of Macao World Heritage sites, it also promotes local creative brands and products, fostering the development of cultural and creative industries by introducing them to a world audience, pushing them to go global. Macao exhibitors at ICCIE 2013 include: Art House, the Creative Industries Promotion Association of St. Lazarus Church District, Lines Lab, Macau Creations, Macao Daily News, Macao Heritage Ambassadors Association, MOD Design Store , Ribs Clothing Limited, San Seng Fung, and Soda Panda Product Design.
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According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in September. As total deposits increased at a faster pace than total loans, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier.
Money supply
Currency in circulation grew 0.9% whereas demand deposits dropped 2.7%. M1 thus decreased 2.2% from one month earlier. Concurrently, quasi-monetary liabilities increased 2.3%. The sum of these two items, i.e. M2, grew 1.7% to MOP426.6 billion. On an annual basis, M1 and M2 rose 33.7% and 22.5% respectively. The share of Pataca (MOP) in M2 stood at 24.3%, down at the same pace of 0.3 percentage points from a month and a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 53.4%, up 0.5 percentage points month-to-month but down 2.7 percentage points year-on-year.
Deposits
Resident deposits grew 1.8% from the preceding month to MOP417.9 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 0.4%, 2.7% and 0.9%. Non-resident deposits rose 8.2% to MOP174.1 billion. Public sector deposits with the banking sector also increased 3.3% to MOP63.9 billion. As a result, total deposits with the banking sector grew 3.5% from a month earlier to MOP656.0 billion. The shares of MOP and HKD in total deposits were 19.5% and 44.7% respectively.
Loans
Domestic loans to the private sector increased 1.0% from a month ago to MOP243.3 billion. Among which, MOP77.9 billion was MOP-denominated and MOP142.1 billion was denominated in HKD, representing 32.0% and 58.4% of the total respectively. Analysed by economic sector, loans to "wholesale and retail trade", "construction and public works" and "exhibition and conference" increased at respective rates of 12.9%, 8.7% and 7.8% compared with a quarter ago, whereas loans to "electricity, gas and water" and "agriculture and fisheries" dropped 6.2% and 2.0% respectively. External loans increased 0.7% to MOP268.9 billion; of which, loans denominated in MOP and HKD accounted for 1.3% (MOP3.6 billion) and 22.6% (MOP60.9 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-September dropped 0.5 percentage points from the previous month to 50.5%. The ratio for both the resident and non-resident sectors also decreased 2.1 percentage points to 78.1%.
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