News

According to statistics released today by the Monetary Authority of Macao, broad money supply maintained its uptrend in October. As loans decreased and deposits increased, the overall loan-to-deposit ratio of the banking sector continued to slide. Money supply Currency in circulation dropped 1.4% while demand deposits rose 8.9%. M1 thus increased 7.1% from one month earlier. Concurrently, quasi-monetary liabilities grew 2.9%. The sum of these two items, i.e. M2, increased by 3.4% to MOP360.1 billion. On an annual basis, M1 and M2 rose 17.5% and 23.2% respectively. The share of Pataca (MOP) in M2 stood at 24.9%, up 0.3 percentage points from a month ago but down 0.1 percentage point from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 56.0%, down 0.2 percentage points month-to-month but up 3.7 percentage points year-on-year. Deposits Resident deposits rose 3.5% from the preceding month to MOP352.7 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 5.1%, 3.1% and 2.9%. In the meantime, non-resident deposits decreased 0.2% to MOP124.0 billion while public sector deposits with the banking sector rose 1.3% to MOP42.2 billion. As a result, total deposits with the banking sector rose 2.4% from a month earlier to MOP518.9 billion. The shares of MOP and HKD in total deposits were 21.1% and 47.7% respectively. Loans Domestic loans to the private sector slid 1.0% from a month ago to MOP189.4 billion. Among which, MOP56.5 billion was MOP-denominated and MOP117.7 billion was denominated in HKD, representing 29.8% and 62.1% of the total respectively. External loans also decreased 0.6% to MOP212.0 billion; of which, loans denominated in MOP and HKD accounted for 0.8% (MOP1.6 billion) and 24.6% (MOP52.1 billion) respectively. Loan-to-deposit ratios As domestic loans to the private sector decreased while resident deposits increased, the loan-to-deposit ratio for the resident sector at end-October dropped 2.1 percentage points month-to-month to 48.0%. The ratio for both the resident and non-resident sectors was 77.4%, down 2.5 percentage points from end-September.
…

Aiming to protect consumer rights by monitoring consumer markets, Consumer Council established the 'Code of Practice' for 'Certified Shop' retailers in the furniture retail industry. It is pointed out in the 2013 Policy Address that strengthened monitoring on consumer markets and enforced regulations, including the review of 'Certified Shops' mechanism, will be carried out to safeguard consumer rights. Consumer Council points out the importance of establishing 'Codes of Practice' for industries under its 'Certified Shop' mechanism, 'the 'Codes' not only serve as a channel to monitor the business of 'Certified Shops' but also establish a fair and harmonious relationship between traders and consumers, as the 'Codes' allow both sides to solve their disputes promptly. Businesses that are not listed in the 'Certified Shop' mechanism also agree the 'Codes of Practice' build up a positive image for their industries. The Council has established various 'Codes of Practice' for different industries in the past 10 years, the most recent ones include the 'Codes' for photographic equipment supplies and photo printing services, optical retail industry, and souvenir retailers (specialty foods). Consumer Council recently established the 'Code of Practice' for furniture retail industry in response to the increased consumption of finished/stock or custom-made furniture by consumers. The 'Code' includes general regulations for the industry, and two parts specifically aimed at finished/stock products and custom-made products. 'Certified Shop' furniture retailers believe the 'Code' enables both traders and consumers to pay attention to general problems arise from their transactions and helps avoid disputes. The Council indicates that the 'Code' is established based on the opinions of furniture retailers, the operation of the industry and issues from the most common consumer disputes related to the industry. As the implementation of 'Code of Practice' is one of the criteria in the annual assessment of 'Certified Shop', 'Certified Shop' furniture retailers are reminded to comply with this newly launched 'Code'. Further, in response to the changes in business model and clothing materials, the 'Code of Practice' for laundries and dry cleaners established in 2004 has been revised, aiming to ensure fair transactions between both retailers and consumers. The Council will continue to review the 15 'Codes of Practice' and revise accordingly for a fair and harmonious consumption market in Macao. The 'Codes of Practice' for the furniture retail industry and laundries and dry cleaners (revision) will be printed as leaflets and are now able for download on the Council's website (www.consumer.gov.mo).
…

Consumer Council recently conducted a price check on cooking oil. Both increase and decrease in price were recorded. Survey result also showed that price differences of the same product sold at different retail outlets ranged from 1.6 percent to 64.5 percent. Prices of 22 brands of cooking oil were collected from 20 retail outlets on 30th November by Consumer Council. Selling prices of the same product were found to vary in different retail outlets, 'Pietro Coricelli Olive Pomace Oil/1L', which was sold at $38.0 to $62.5, recorded a price difference of 64.5 percent. The current survey also showed that price discrepancies of 3 brands of cooking oil sold at different outlets had shrink. The surveyed cooking oil brands generally differed for 30 to 40 percent in price at various retail outlets. In comparison with data from September's survey, 7 out of all surveyed brands recorded no change in price. 'Tripod Brand Top Quality Corn Oil/2L' recorded a general price decrease of over 10 percent in many outlets, 'Knife Brand Pure Peanut Oil/900mlx3' recorded a general price increase of about 10 percent while 'Mazola Canola Oil/3.5L' observed price increases ranged from 5 percent to 20 percent. The mentioned specific price survey on cooking oil is now available on the Council's website (www.consumer.gov.mo) and 'Supermarket Price Information Platform' iPhone and Android apps. For enquiry, please call 8988 9315.
…

This year, 1045 businesses are awarded the 2013 'Certified Shop' emblem by Consumer Council. 13 'Certified Shops' with a score of over 95 are awarded as 'Class A Certified Shop'. Consumer Council added a grading system to its assessment mechanism of 'Certified Shop' last year to award businesses that acquire the highest class in the previous year, the Council hopes the assessment mechanism encourages 'Certified Shops' to make improvement and provide better services to consumers. This year, 13 'Certified Shops' are classified as 'Class A' and 1 of them has already been awarded for two consecutive years. The number of classes A- and B 'Certified Shops' has increased by 20 percent, making a total of 609 'Certified Shops' in the classes A to B, which amounts to approximately 100 more shops when compared to the previous year. The Council hopes all 'Certified Shops' are encouraged to earn higher marks and raise the overall standard of 'Certified Shops'. 216 shops did not pass the assessment and are not qualified for the new 'Certified Shop' emblem; the pass rate of 'Certified Shop' is 82.8 percent. Consumer Council will continue to enhance its surveillance on 'Certified Shop', better its assessment mechanism, set up codes of practice, and provide training to businesses to ensure continuous improvement of 'Certified Shops'. The award ceremony of 'Class A Certified Shop' was held on 4th December at Macau Fisherman's Wharf, over 50 representatives from different organizations were also awarded certificates for their continuous support as consultants of the 'Consumer Arbitration Centre'.
…

The Government has set up an inter-departmental study team to look into old-age security mechanisms to cope with the challenges and impacts brought about by an aging population. The team came into operation today, according to today's Government Gazette. The team's core functions include reviewing current policies and measures on old-age security and to come up with proposals for improvement; conducting a comprehensive study on medical, housing and retirement policies for the elderly and suggesting tactics to improve the quality of life for the elderly; providing concrete measures to enhance the old-age security mechanism; promoting co-operation with non-government associations and private entities to support and assist in researches; following up and evaluating the progress of study and submitting a follow-up report to Chief Executive. The Director of the Social Welfare Bureau will co-ordinate the study team. Other members include representatives from Office of the Secretary for Social Affairs and Culture, directors from Statistics and Census Service; Labour Affairs Bureau, Health Bureau, Education and Youth Affairs Bureau, Culture Affairs Bureau, Macau Sport Development Board, Land, Public Works and Transport Bureau, Housing Bureau, Transport Bureau, presidents from the Social Security Fund, and director of Seniors Academy of Macao Polytechnic Institute. The study team may invite staff from other departments, private entities and academics to participate in researches. Moreover, it is empowered to set up special teams for specific research topics if necessary.
…

University of Macau (UM) Rector Wei Zhao was elected academician of the International Eurasian Academy of Sciences (IEAS) at its 16th plenary meeting held in Beijing, showing international recognition of his achievements in scientific research and higher education administration. Prof. Wei Zhao is a fellow of the Institute of Electrical and Electronics Engineers, and he has made outstanding contributions in distributed computing, real-time systems, computer networks, and cyberspace security. During the time he served as the director of the Division of Computer and Network Systems in the United States National Science Foundation, Prof. Wei Zhao initiated studies of the Internet of Things (IOT) and was responsible for allocating funds for the project. He is currently the chief scientist for a project on IOT, which has been approved for funding under the "973 Programme", a key national research development programme in China, leading a team of scientists from UM, the Institute of Computing Technology of the Chinese Academy of Sciences, Tsinghua University, Tongji University and East China Normal University. In March 2011 he was awarded an honorary doctorate degrees by twelve universities in Portugal, in recognition of his achievements in scientific research and higher education. Founded in 1994, IEAS is an authoritative international organisation of natural scientists, engineering experts and social scientists. Its members include over six hundred academicians from forty-six countries. Current members of IEAS include Lu Yongxiang, former president of the Chinese Academy of Sciences; Xu Guanhua and Zhu Lilan, both former minister of science and technology of China; Sun Jiadong, academician of the Chinese Academy of Sciences and recipient of the 1999 "Two Bombs, One Satellite" Achievement Medal and the 2009 National Science and Technology Award; and Joseph Jao-Yiu Sung, vice-chancellor and president of the Chinese University of Hong Kong.
…

In accordance to the nomination of the Decoration Awards Committee, the Macao Government announced the recipients of Decorations, Medal and Certificates of Merit to 46 individuals and entities in recognition of their outstanding achievements, contributions and distinguished services rendered to the Macao Special Administrative Region (MSAR). Decorations of Honour, including the Decoration of Honour - Grand Lotus, the Decoration of Honour - Golden Lotus and the Decoration of Honour - Silver Lotus, are awarded to individuals or entities that have made outstanding contributions to the image and reputation of the Macao SAR. The recipients are: Decoration of Honour – Grand Lotus
Mr Lao Kung Po Decoration of Honour - Golden Lotus
The Macao Chamber of Commerce Decoration of Honour – Silver Lotus
Ms Au Ieong Iun Han
Mr Leong Chong Kao Seven types of Medals of Merit are awarded for: 1. Professions; 2. Industry and commerce; 3. Tourism; 4. Education; 5. Culture; 6. Philanthropy; and 7. Sport. Each of these categories of decorations is awarded to individuals or entities that have make major or excellent contributions in their respective fields The recipients are: Medal of Merit – Professions
Ms Iong Weng Ian
Mr Lei Chin Ion
Mr Paulino Do Lago Comandante
Mr Ao Peng Kong Medal of Merit - Industry and Commerce
Mr Cheang Chi Keong
Ms Ho Pui Fan
Mr Paulo Tse
Mr Chang Iok Meng Medal of Merit – Tourism
Mr Lui Yiu Tung Francis
Solmar Limitada Medal of Merit – Education
Mr Iao Tun Ieong
Ms Chu Sheung Maria
Mr Kou Kam Fai
Mr Lai Sai Kei Medal of Merit – Culture Mr Tang Keng Pan
Mr Lei I Leong Medal of Merit – Philanthropy Ms Leong Iok Wa
Mr Luis Lei Xavier
Ms Suzanne Devoy
Medal of Merit - Sport Mr Lo Keng Chio
Mr Chong Coc Veng
Mr Wong Hang Cheong
Ms Kuan Sok Mui Medals for Distinguished Services are awarded to public entities, organisations or their staff for outstanding performance of their duties or community service. The recipients are: Medal for Distinguished Service - Medal for Bravery
Mr Ma Io Weng
Mr Cheong Mun Hong Medal for Distinguished Service - Medal for Dedication Mr Ho Si Lo
Mr Iao Teng Fong Medal for Distinguished Service - Medal for Community Service Mr Lao Ion Fai
Ms Pang Siu In
Ms Lau Sut Man Certificates of Merit including the Honorific Title - Prestige and the Honorific Title – Merit, commend Macao SAR residents or other people who have made major contribution to the reputation, development or social progress of the Macao SAR. The recipients are: Honorific Title - Prestige Ms Chan Shuk Leung
Mr Liu Gangqi
Mr Chang Shin-Hsien
Mr Barry John Bland
China Space Foundation Honorific Title – Merit
Mr Wong Ka Fai
Mr Li Yi
Mr Lao Kun Wa
Ms Che Ngan Ngan
Mr Sou Chin Pang
Macao Roller Hockey Men's Team
Macao Youth Artistic Ability Volunteer Association The decorations, medals and certificates of merit awards ceremony will be held in the middle of December 2012.
…

University of Macau (UM) Rector Wei Zhao was elected member of the International Eurasian Academy of Sciences (IEAS) at its 16th plenary meeting held in Beijing, showing international recognition of his achievements in scientific research and higher education administration. Prof. Wei Zhao is a fellow of the Institute of Electrical and Electronics Engineers, and he has made outstanding contributions in distributed computing, real-time systems, computer networks, and cyberspace security. During the time he served as the director of the Division of Computer and Network Systems in the United States National Science Foundation, Prof. Wei Zhao initiated studies of the Internet of Things (IOT) and was responsible for allocating funds for the project. He is currently the chief scientist for a project on IOT, which has been approved for funding under the "973 Programme", a key national research development programme in China, leading a team of scientists from UM, the Institute of Computing Technology of the Chinese Academy of Sciences, Tsinghua University, Tongji University and East China Normal University. In March 2011 he was awarded an honorary doctorate by twelve universities in Portugal, in recognition of his achievements in scientific research and higher education. Founded in 1994, IEAS is an authoritative international organisation of natural scientists, engineering experts and social scientists. Its members include over six hundred academicians from forty-six countries. Current members of IEAS include Lu Yongxiang, former president of the Chinese Academy of Sciences; Xu Guanhua and Zhu Lilan, both former minister of science and technology of China; Sun Jiadong, member of the Chinese Academy of Sciences and recipient of the 1999 "Two Bombs, One Satellite" Achievement Medal and the 2009 National Science and Technology Award; and Joseph Jao-Yiu Sung, vice-chancellor and president of the Chinese University of Hong Kong.
…

Information from the Statistics and Census Service (DSEC) indicated that Gross Domestic Product (GDP) for the third quarter of 2012 expanded by 5.1% year-on-year in real terms, attributable to the decline in exports of gaming services and slowing increase in total visitor spending. The economic growth was fuelled by the increase in private consumption expenditure and investment, of which private consumption expenditure increased by 9.1%, investment expanded by 10.3%, merchandise exports and imports rose by 28.3% and 7.1% respectively, total visitor spending went up by 2.3%, government final consumption expenditure edged up by 1.2%; however, exports of gaming services decreased by 0.1%. In addition, the implicit deflator of GDP that measures changes in prices increased by 6.4% year-on-year. In the first three quarters of 2012, GDP increased by 10.0% year-on-year in real terms. Rate of economic growth for the first and second quarters of 2012 revised to 18.5% and 7.8% respectively, while economic growth for the whole year of 2010 and 2011 revised upward to 27.5% and 21.9%. As a consequence to the increase in total employment and working income, as well as low unemployment rate, private consumption expenditure for the third quarter of 2012 soared by 9.1% year-on-year. Household final consumption expenditure in the domestic market increased by 8.6%, and consumption expenditure abroad rose by 10.0%, and the spending in Mainland China amounted to MOP2.07billion. Government final consumption expenditure increased by 1.2% year-on-year, of which compensation of employees rose by 6.6% but net purchases of goods and services declined by 4.4%. As the gauge of investment, gross fixed capital formation increased by 10.3% year-on-year. Private investment expanded by 14.3%, of which construction investment surged by 28.0%, while equipment investment shrank by 14.6%. Government investment decreased by 0.6% that was triggered by a notable decline of 66.3% in equipment investment; however, construction of the Hengqin Campus of the University of Macau, and the public housing brought about a 10.9% increase in public construction investment. Merchandise exports rose by 28.3% year-on-year, while increase in merchandise imports receded to 7.1% on account of the decelerating growth in visitor spending. In respect of trade in services, slowdown in visitor arrivals and visitor spending, as well as the decline in exports of gaming services contributed to a marginal rise of 0.6% in exports of services, far lower than the 19.1% increase in first quarter and the 5.6% rise in second quarter. In addition, imports of services contracted by 7.0% year-on-year.
…

Information from the Statistics and Census Service (DSEC) indicated that total merchandise export for October 2012 amounted to MOP637 million, up by 19.4% year-on-year; value of re-exports (MOP472 million) increased by 36.6%, but that of domestic exports (MOP165 million) decreased by 12.2%. Total merchandise import amounted to MOP5.92 billion, up by 9.5% year-on-year. Merchandise trade deficit amounted to MOP5.28 billion for October 2012. In the first ten months of 2012, total value of merchandise export increased by 21.5% year-on-year to MOP6.79 billion, of which value of re-exports (MOP4.87 billion) increased by 33.8%, but that of domestic exports (MOP1.92 billion) decreased by 1.5%; meanwhile, total value of merchandise import increased by 16.8% to MOP58.18 billion. Merchandise trade deficit for the first ten months of 2012 amounted to MOP51.39 billion. From January to October 2012, merchandise export to Hong Kong (MOP3.45 billion) and Mainland China (MOP1.12 billion) increased by 42.3% and 25.1% respectively year-on-year, while export to the USA (MOP421 million) and the EU (MOP261 million) decreased by 8.3% and 19.0% respectively. Exports of Non-textiles (MOP5.89 billion) in the first ten months of 2012 expanded by 32.4% year-on-year, of which exports of Machines & apparatus, parts & accessories thereof (MOP1.21 billion) and Articles for casino (MOP296 million) surged by 168.7% and 39.8% respectively; yet, exports of Textiles & garments (MOP892 million) decreased by 21.4%. Domestic exports of Tobacco & wine (MOP440 million) rose by 22.7%, while exports of Knitted or crocheted garments (MOP280 million) declined by 24.8%. Re-exports of Machines & apparatus, parts & accessories thereof (MOP1.20 billion) soared by 171.7%. In the first ten months of 2012, merchandise import from Mainland China (MOP18.81 billion) and the EU (MOP13.72 billion) increased by 23.2% and 11.0% respectively year-on-year. Imports of Consumer goods rose by 16.2% to MOP35.61 billion, with imports of Gold jewellery (MOP6.18 billion), Watches (MOP4.27 billion) and Motor cars & motorcycles (MOP2.69 billion) increasing by 20.4%, 35.8% and 40.0% respectively. Moreover, imports of Capital goods (MOP10.54 billion) registered a year-on-year increase of 22.3%. External merchandise trade reached MOP64.97 billion in the first ten months of 2012, up by 17.3% compared with MOP55.40 billion a year earlier.
…