News

Owing to the strike action taken by the workers' union in Nigeria, Macao Post announced that mail delivery services (including Correspondence, Printed Matters, Small Packet, Parcel and EMS) from Macao to Nigeria are subject to delay until further notice. Thank you for your kind attention.
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Information from the Statistics and Census Service indicated that visitors in package tours soared by 70.3% year-on-year to 767,208 in November 2011. Visitors from Mainland China (574,212); Taiwan, China (45,522); Hong Kong (35,659) and the Republic of Korea (27,453) surged by 79.0%, 131.9%, 64.5% and 103.3% respectively. In the first eleven months of 2011, visitors in package tours increased by 24.7% year-on-year to 6,511,818, surpassing the annual total of 5,745,222 in 2010. In November 2011, Macao residents travelling outbound in package tours increased by 10.8% year-on-year to 20,812. The most popular tour itineraries were Mainland China (80.5% of total) and the Republic of Korea (5.4%). In the first eleven months of 2011, outbound residents in package tours decreased by 4.2% year-on-year to 215,322. Meanwhile, outbound residents travelling under own arrangements using services of travel agencies increased by 27.8% year-on-year to 58,166; the main destinations were Mainland China (52.7% of total); Hong Kong (18.3%); and Taiwan, China (15.0%). In the first eleven months of 2011, outbound residents travelling under such arrangements increased by 27.9% year-on-year to 581,296. At the end of November 2011, number of available guest rooms of hotels and guest-houses totalled 22,335, up by 2,276 rooms (+11.3%) year-on-year, with that of 5-star hotels accounting for 63.5% of the total. Hotels and guest-houses received 780,641 guests in November 2011, up by 18.7% year-on-year, with the majority coming from Mainland China (55.4% of total) and Hong Kong (17.0%). The average length of stay of guests held stable at 1.5 nights, same as in November 2010. The average occupancy rate of hotels and guest-houses was 88.4%, up by 5.7 percentage points year-on-year. Average occupancy rate of hotels was 89.1%, with 4-star hotels leading at 93.8%. Number of guests increased by 10.9% year-on-year to 7,791,964 in the first eleven months of 2011, higher than the 7,755,214 for the whole year of 2010; average occupancy rate of hotels and guest-houses stood at 83.6%, up by 4.5 percentage points year-on-year. In the first eleven months of 2011, visitor-guests accounted for 62.1% of the total number of tourists (overnight visitors), higher than 61.0% in the same period of 2010.
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Macau Government Tourist Office launches the "Incentive Travel Stimulation Program" from January to December 2012 to continue its support in boosting the development of business tourism. Beneficiary and scope of the program include organizers and/or planners of Incentive Travel to be held in Macau, Incentive activities, team building activities, award dinner and local transportations involved. The incentive group should have a minimum of 50 non-local participants with at least 2 consecutive nights of stay in Macau hotel. A maximum support of MOP$300 will be granted on actual consumption per non-local participant for their incentive activity in Macau. The program will provide complimentary tourist information kits and welcome gifts, promotional video on Macau, free admission to the Wine Museum and Grand Prix Museum and facilitation in liaising with other relevant SAR Government entities. Applicants who are qualified for the program must meet relevant requirements such as, the program is only applicable to events that are confirmed by 31st December,
2012 with proof of booking submitted to MGTO by means of signed documentation or contract and receipt of deposit. The applicants should also observe the procedures of application and payment. Details of the program is available at MGTO's website http://industry.macautourism.gov.mo/en/page/content.php?page_id=197 The "Strategic MICE Market Stimulation Program", under the "Plan to Support Macau Tourism Industry" launched by MGTO in May, 2009, has been well received by the local business tourism industry. The "Incentive Travel Stimulation Program" launched this year is an extension of the "Strategic MICE Market Stimulation Program" in the incentive area.
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The Chief Executive, Mr Chui Sai On, met the Vice-President of the European Parliament, Mr Libor Roucek on 11 January (local time), on the last day of his visit to European Union (EU). Mr Chui attended the banquet hosted by the Counsellor of the Embassy of the People's Republic of China in the Kingdom of Belgium, Mr Chen Xiaoming, in the evening. Mr Chen welcomed the Macao officials and congratulated Mr Chui for having made a successfully visit to EU and Belgium. The Secretary for Administration and Justice, Ms Florida Chan, who also accompanied Mr Chui to EU, met with the Director General of Interpretation at the European Commission, Mr Marco Benedetti. Ms Chan, interviewed by journalists, said that Macao and EU have trained 26 interpreters and translators since 2006, adding that a new programme will commence in February with 12 trainees. She also said that she had proposed to further enhance the co-operation with European Union and that both sides had agreed to explore the feasibility of setting up a master programme for the training of interpretation and translation professionals. The Chief Executive will leave Belgium on 12 January (local time).
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The Heritage Foundation released today its 2012 Report on the Index of Economic Freedom, confirming Macao's high position in the world ranking of economic freedom. The SAR's score of economic freedom is 71.8, making its economy the 19th freest among 179 economies with assigned scores worldwide, which is identical to the ranking of the previous year. The study covers economies in different regions across the world while its assessment is based on 10 factors of economic freedom. Macao ranks relatively high in factors such as trade freedom, investment freedom, monetary freedom, government spending and financial freedom. The Foundation's 2012 Report says that Macao, as a free port, has long benefited from global trade and investment. The overall entrepreneurial environment is generally efficient and streamlined, and property rights are well respected. Foreign investors can conduct business on the same terms as nationals. Taxation is low and efficient. A relatively small financial system, dominated by banking, provides easy access to financing. Since opening up the gaming industry in 2002, Macao has attracted significant amounts of foreign investment and has transformed itself into one of the world's leading tourism destinations. In the Asia-Pacific region, Macao is ranked 6th out of 41 economies, just behind Hong Kong, Singapore, Australia, New Zealand and Chinese Taiwan. The SAR, with its overall score well above the world and regional averages, is classified as "mostly free". According to the Heritage Foundation, economic freedom is positively related to per capita income as well as overall well-being.
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The Chief Executive, Mr Chui Sai On, met with the President of the European Commission, Mr José Manuel Durão Barroso, on the afternoon of 10 January afternoon (local time) at the Headquarters of the EU where they agreed to step up co-operations in a wide range of areas. In the meeting, Mr Chui introduced the latest social and economic developments of Macao SAR to the President Barroso. Mr Chui told the press after the meeting that both sides had reviewed the work and achievements of co-operation in the past, and they had also agreed to enhance co-operation in future business activity, higher education, culture and creative industry and environmental protection. Asked by reporters if he would visit the EU again, Mr Chui replied that this visit had successfully broadened co-operation in all aspects, adding that he would visit EU again if required President Barroso, who met the media separately, said the meeting with Mr Chui was very important and fruitful. He also said that the outstanding economic development of Macao is a successful example of the world's economic development. Learning from Mr Chui, the Macao Government had spared no effort in boosting the diversification of Macao's economy and EU is willing to work with the Macao Government to jointly promote this work, said the President Barroso. He said he was happy to see EU and Macao strengthen the exchange in culture and higher education. Before the meeting with President Barroso, Mr Chui also met with the Deputy Prime Minister and Minister of Foreign Affairs, Foreign Trade and European Affairs of Belgium, Mr Didier Reynders. The Chief of the Office of the Chief Executive and the Macao Government Spokesman, Mr Tam Chon Weng, told reporters that the Chief Executive has briefed the Belgium officials on the latest economic development of the Macao SAR, especially the co-operations with the Guangdong province to achieve the aim of diversification of Macao's economy. Both sides agreed to seek for greater economic co-operation, especially to encourage Belgian businessmen to invest in Macao as well as Chinese and Macao businessmen to invest in Belgium, said Mr Tam. He said that Mr Chui had invited Mr Didier Reynders to visit Macao in June during his official trip to China. Mr Chui will meet with the Vice-President of the European Parliament, Mr Libor Roucek tomorrow.
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Macau Government Tourism Office Director João Manuel Costa Antunes unveiled today that the visitor arrivals of last year reached 28 million, an increase of 12.2%. MGTO will set up a working team to initiate a three-tier working plan for tourism this year to be in line with the positioning of building Macau as the World Center of Tourism and Leisure. At the MGTO Annual Press Conference held today (Jan 10) at the Macau Tower Convention and Entertainment Center, Director Antunes reviewed last year's tourism development of Macau and outlined this year's tourism strategies and marketing promotional activities to over 400 attendants including MGTO representatives around the world, travel industry partners and around 80 international and local media. Speaking at the press conference, Antunes said that according to the preliminary figures, visitor arrivals to Macau hit 28,002,000 last year, registering an increase of 12.2% over 2010. Close to 25 million visitors were from the Greater China region, with a growth of 13.5%. International visitors rose by 2.2% to reach almost 3 million, representing10.9% of the total arrivals, while the number of international visitors was just about 580,000 in 1999 when the Macau SAR established, 7.8% of the total arrivals. The Mainland, Hong Kong and Taiwan, China continue to be the top three visitor generating markets. Visitors from the Mainland exceeded 16 million last year, scoring a surge of 22.2%. Among which 50% was from Guangdong province. Korea also performed well last year, with a rise of 20.2% to record close to 400,000 visitors. Antunes noted that 46.2% of total arrivals or close to 13 million visitors stayed overnight last year, a growth of 8.4%. From January to October, 66% of the total overnight stay or 7 million stayed in hotels, jumped by 10%. The average length of stay of the same period stood at 1.53 nights. He continued that the Mainland, Taiwan, China and Korea scored the highest growth in overnight guests in the first ten months, and India, which was not among the top ten markets, ranked sixth in terms of hotel overnight guests. USA, the United Kingdom and New Zealand were the top three markets by length of stay. In the first 3 quarters of 2011, the total visitor expenditure hit US$25.3 billion, a rise of 33.5% over the same period of 2010. Per-capita spending in the 3rd quarter of 2011 reached US$204.1, a surge of 6.8%. The average occupancy rate of Macau's hotels and guesthouses in the first ten months was 83%, increased by 4.3 percentage points. The average room rate for 3 to 5-star hotels in the first 11 months recorded a surge of 14.8%, reaching US$167. Total number of occupied rooms from January to October was 5.36 million, a rise of 14.9%. Currently, Macau has 65 hotels and 32 guesthouses, providing 23,222 rooms (guesthouses and 2 to 5-star deluxe hotels). There are 157 travel agencies and 1,518 tour guides in Macau. He pointed out that the " Strategic MICE Market Stimulation Program" supported 379 events in 2011, involving over 2 million participants. Antunes expressed that with the positioning of Macau as a World Center of Tourism and Leisure, Macau is leveraging this strategic position and development direction. Last year, MGTO organized the Round Table Seminar on "How to Build a World Center of Tourism and Leisure to gather opinions and suggestion and invited experts from PATA to visit Macau to study the positioning of Macau as a World Center of Tourism and Leisure. MGTO also attended the seminars of the SAR Government Policy Research Cabinet to give opinions in tourism aspects. He added that to optimize industry management and enhance tourism service quality, China National Tourism Administration and MGTO jointly implement the Key Points for Contracts between Travel Agencies and Tour Operators Handling Mainland Tour Groups to Macau last year. MGTO also started to publish room rates of hotels and guesthouses on its website from last December on a permanent basis as a reference for visitors and residents. MGTO set up working team to initiate three-tier plan Antunes stressed that targeting the positioning of Macau as a World Center of Tourism and Leisure, policies and measures will be adjusted to give priority to develop a comprehensive tourism development plan and at the same time, MGTO will devote efforts in regional cooperation, quality tourism, tourism product mix and innovative promotion to build Macau into a quality tourism destination. He pointed out that MGTO will set up an internal working team to initiate the following three-tier working plans on tourism this year to be in line with the government's building of Macau as a World Center of Tourism and Leisure. Medium to long Term Global Plan: to suggest a medium to long-term development plan for the tourism sector from the global perspective, aiming to develop a comprehensive development plan for the tourism industry and tourism authority that is in line with the positioning; Medium Development Plan: to timely make adjustment in regard to tourism development indicators and the existing tasks of MGTO while developing special plan for the tourism sector targeting the positioning; Short Term Individual Action Plans: in response to the immediate needs and existing problems of the tourism sector, short term individual action plans will be carried out to make immediate improvements through cross-departmental cooperation with the views of the tourism industry. He expressed that MGTO supports the development of budget hotels and will coordinate with the related groups of the tourism industry to launch an online booking platform in 2012 to enhance its online promotion. In addition, cross-department reviews will be carried out on the effectiveness and execution of the law on "Prohibition of Providing Illegal Accommodation" and analysis and adjustment in strategies will be made according to the changing circumstances. Antunes said that MGTO will continue to adopt the promotional theme and slogan of " Touching Moments – Experience Macau" while channels like smart phone and social networking will be used to expand scope of information dissemination. New interactive tourism website will also be launched. Regarding regional tourism cooperation, he noted that collaboration will be strengthened under the existing cooperation framework, and will work closely with the tourism industry and step up inspections at checkpoints and provide training for the inspectors to enhance the implementation of the Key Points for Contracts between Travel Agencies and Tours Operators Handling Mainland Tour Groups to Macau. MGTO will grasp the opportunity of its Director being the Chairman of PATA from this year to strength international exchange.
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The Chief Executive, Mr Chui Sai On, arrived in Brussels, Belgium, on 9 January (local time) for a visit to the European Union and the country. Mr Chui visited Macao's Economic and Trade Office to the European Union in Brussels, accompanied by the office's director, Mr Raimundo Arrais do Rosário. In the evening, Mr Chui and his delegation visited the office of the Chinese Mission to the EU, and attended a reception hosted by its Chargé d'Affaires, Mr Wang Hongjian. Today Mr Chui is scheduled to attend a reception to be hosted by the Deputy Prime Minister and Minister of Foreign Affairs, Foreign Trade and European Affairs of Belgium, Mr Didier Reynders, and meet the President of the European Commission, Mr José Manuel Durão Barroso, in the afternoon.
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Consumer Council released the specific price survey on rice for January. In comparison with last (December 2011) survey's figures, 10 out of the 16 surveyed rice brand samples showed stability in price, other 6 samples recorded price increase of about 5 percent. According to recent price surveys on rice conducted by the Council, price increases in recent months had slowed down; the Council will continue to keep an eye on the price trends of rice. The specific price survey on rice conducted on January 5th showed that prices of most Japanese, Australian, and Thai rice brands had all been raised. Out of the 16 surveyed rice brand samples, 6 of them recorded price increases of about 5 percent. Though price increases had slowed down in recent months, certain rice brands still recorded obvious rise in price: '"Fung Soi" Thai Hom Mali Rice (10kg)' and '"Tsing Ling Gi" Thai Hom Mali Rice (10kg)' both had a price increment of 21 and 15 percent respectively, 'Golden Elephant Brand Premium Jasmine Rice (8kg)' also recorded price rises in several retail spots from 5 to 8 percent. For prices of the same brand sold in different retail outlets, price discrepancies still exist in certain outlets, consumers are advised to check with the data conducted by the Council. Consumer Council indicated that local rice price is expected to rise. The Council will continue to pay heed on the change in rice prices and provide timely resources for consumers. The Council also plans to include the search function of this specific price survey to its newly released iPhone app for consumers' easy reference. The latest specific price survey on rice can be accessed at the Council's website (www.consumer.gov.mo), consumers may also get access to individual pages of each rice brand on the 'Price Information Platform' to get full details of rice price. For inquiry, please call 89889315. The above article is accessible at http://www.consumer.gov.mo/c/ccnews.asp
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According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money continued to grow in November. As total deposits grew much faster than total loans, the overall loan-to-deposit ratio dropped from a month earlier. Money supply
Currency in circulation and demand deposits grew 0.9% and 6.7% respectively. M1 thus increased 5.8% from one month earlier. Concurrently, quasi-monetary liabilities rose 2.9%, pushing M2 to grow 3.3% to MOP301.7 billion. On an annual basis, M1 and M2 rose 17.4% and 25.6% respectively. The share of Pataca (MOP) in M2 stood at 25.1%, up marginally by 0.1 percentage point over a month ago or down 3.1 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 55.0%, up 2.6 percentage points month-to-month and 0.3 percentage points year-on-year. Deposits
Resident deposits increased 3.3% from the previous month to MOP295.8 billion. Of which, MOP deposits and HKD deposits grew at respective rates of 3.8% and 8.5% while other foreign currency deposits dropped 9.1%. In the meantime, non-resident deposits declined 2.1% to MOP94.2 billion whereas public sector deposits with the banking sector increased 2.1% to MOP26.1 billion. As a result, total deposits with the banking sector grew 2.0% from a month earlier to MOP416.1 billion. The shares of MOP and HKD in total deposits were 21.2% and 46.4% respectively.
Loans
Domestic loans to the private sector dropped slightly by 0.3% on a monthly basis to MOP164.6 billion. Among which, MOP42.4 billion was MOP-denominated and MOP109.8 billion was denominated in HKD, representing 25.8% and 66.7% of the total respectively. On the other hand, external loans rose 2.4% to MOP151.9 billion, of which loans denominated in MOP and HKD accounted for 0.7% (MOP1.1 billion) and 34.2% (MOP51.9 billion) respectively. Loan-to-deposit ratios
Due to the decline in domestic loans to the private sector and increase in resident deposits, the loan-to-deposit ratio for the resident sector at end-November 2011 dropped 1.8 percentage points month-to-month to 51.1%. The ratio for both the resident and non-resident sectors was 76.1%, down by 0.8 percentage points from the previous month.
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