News

Organised by the Legal and Judicial Training Centre and integrated as part of the 2nd EU-Macao Co-operation Programme in the Legal Field, the Seminar on “Consumer Rights: Recent Developments in European Consumer Law” will take place, Monday, 25th April, at 5 p.m., in the Multi-function Room of the Law Reform and International Law Bureau located on Alameda Dr. Carlos D' Assumpção, n. ° 398, CNAC building, 6th floor.
This seminar will feature as its keynote speakers Professor Dr. Hans-W. Micklitz, Director of Graduate Studies of the European University Institute Law Department, Firenze, Italy and Emeritus Professor Dr. Norbert Reich of the University of Bremen, Germany.
This seminar will be conducted in English, with simultaneous translation to Cantonese and Portuguese. During the five daily sessions, which will take place between 5 p.m. and 7 p.m. until April 29th, the following topics will be discussed: 1. Introduction – Economic Law, Consumer Interest and Integration;
2. Unfair Commercial Practices;
3. Unfair Contract Terms;
4. Sale of Consumer Goods;
5. Anti-discrimination;
6. Universal Services;
7. Consumer Credit;
8. Liability for Defective Goods;
9. Cross Border Consumer Protection;
10. Legal Protection of Individual and Collective Interests. An emphasis will be placed on the presentation of an overview and an evaluation of consumer rights in different areas in the context of development and challenges so as to raise awareness and promote sustainable development in this area. The 2nd Co-operation Programme in the Legal Field between the European Union and Macao, which incorporates this seminar, has as its main objective the “Consolidation of the Macao Legal System” and is going to take place until December 2012. The execution of the Co-operation Programme is coordinated by the Law Reform and International Law Bureau, together with many entities and public departments of the Macao SAR, namely the Legal and Judicial Training Centre, the Legal Affairs Bureau, the Economic Services, the Financial Services Bureau and the Institute of European Studies of Macao.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (22nd April 10:01 till 23rd April 10:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1169 and 0.1492μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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Information from the Statistics and Census Service indicated that the Composite CPI (108.63) for March 2011 increased by 5.46% year-on-year. The increase was attributable to higher charges for meals bought away from home, as well as hairdressing and grooming services, dearer prices of gasoline and gold jewellery, altogether driving up the inflation rate by 2.5 percentage points; however, lower prices of fresh sea products and mobile phone services offset part of the increment. In comparison with March 2010, notable increase was observed in the price index of Transport (+8.22%); Miscellaneous Goods & Services (+7.84%); Food & Non-Alcoholic Beverages (+6.89%); Recreation & Culture (+6.86%); Clothing & Footwear (+6.85%) and Health (+6.45%) on account of rising prices of gasoline, LP gas, airfare and gold jewellery, higher charges for outbound package tours, meals bought away from home, as well as hairdressing and grooming services. On the contrary, price index of Communication decreased by 8.26% year-on-year. In addition, the CPI-A (108.07) and CPI-B (108.86) increased up by 5.13% and 5.64% respectively. The Composite CPI for March 2011 rose by 0.47% month-to-month, down by 0.43 percentage point from February, with the price index of Clothing & Footwear; and Recreation & Culture decreasing by 2.06% and 1.54% respectively. However, price index of Food & Non-Alcoholic Beverages; and Transport increased by 1.50% and 1.23%. Moreover, the CPI-A and CPI-B for March 2011 increased by 0.54% and 0.48% month-to-month. For the 12 months ended March 2011, the average Composite CPI increased by 3.69% from the previous period; the CPI-A and CPI-B rose by 3.27% and 3.87% respectively. In the first quarter of 2011, Composite CPI increased by 5.03% year-on-year; the CPI-A and CPI-B rose by 4.75% and 5.20% respectively. The 2008/2009-based Composite CPI reflects the impact of price changes on the general population. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP6,000 to MOP18,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP19,000 to MOP34,999.
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Information from the Statistics and Census Service indicated that total visitor arrivals increased by 8.9% year-on-year to 2,190,865 in March 2011. Same-day visitors (1,206,451) accounted for 55.1% of total visitor arrivals, with 691,560 coming from Mainland China. Analyzed by place of residence, visitors from Mainland China rose by 18.6% year-on-year to 1,254,117 (57.2% of total visitor arrivals), mostly coming from the Guangdong Province (647,273), Fujian Province (73,612) and Zhejiang Province (43,802); those travelling to Macao under the Individual Visit Scheme totalled 501,276, up by 18.9% year-on-year. Visitors from Hong Kong (592,018) and Singapore (25,398) increased by 4.0% and 9.3% respectively, while those from Taiwan, China (97,136); Japan (34,135) and Malaysia (34,129) decreased by 15.1%, 18.4% and 8.3% respectively. Total visitor arrivals reached 6,431,178 in the first quarter of 2011, up by 5.2% year-on-year. Visitors from Mainland China (3,678,952), Hong Kong (1,778,994) and the Republic of Korea (106,430) increased by 10.3%, 3.0% and 28.0% respectively, while those from Taiwan, China (275,552); Japan (102,371) and Malaysia (75,154) decreased by 16.6%, 3.2% and 11.9% respectively. In the first quarter of 2011, same-day visitors accounted for 54.7% of the total visitor arrivals, at 3,518,661. Analyzed by mode of transport, visitor arrivals by sea totalled 2,499,356 in the first quarter of 2011, up by 1.2% year-on-year. Visitors arriving at the Outer Harbour rose by 5.9% to 1,677,595, with the majority coming from Hong Kong (53.3%) and Mainland China (25.3%); meanwhile, those arriving at the Provisional Ferry Terminal in Taipa decreased by 9.8% to 711,235. Visitor arrivals by land increased by 10.1% year-on-year to 3,538,533 in the first quarter of 2011; those arriving through the Border Gate totalled 3,268,288 and the majority were visitors from Mainland China (80.7%) and Hong Kong (13.4%). Visitor arrivals by air decreased by 8.9% year-on-year to 393,289. Visitors arriving at the Macao International Airport went down by 9.2% to 387,363, with the majority coming from Mainland China (36.9%); Taiwan, China (32.3%); and Malaysia (6.7%).
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (20th April 16:01 till 21st April 16:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1169 and 0.1283μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (20th April 10:01 till 21st April 10:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1178 and 0.1283μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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The Government would introduce two measures to increase costs of residential property transactions in a bid to curb speculation, the Chief Executive, Mr Chui Sai On, said today. Attending a question-and-answer session of the Legislative Assembly, Mr Chui said the Government planned to introduce a special stamp duty for short-term property transactions: Sellers of residential properties (completed or uncompleted) within the a year of purchase will be levied 20 per cent of the transaction price, while the levy for transaction in the second year after purchase would be 10 per cent. He said the Government would soon submit a bill to the Assembly to introduce the special stamp duty. The Government would also tighten the mortgage ratio for uncompleted residential units: the maximum loan-to-value (LTV) ratio for equitable mortgage loans granted to Macao residents and non-Macao residents should not exceed 70 per cent and 50 per cent respectively. The Monetary Authority of Macao would issue guidelines to financial institutions, he said. These two measures would raise the cost of speculation in the property market and strengthen risk management of mortgages for uncompleted residential units, he said. The Government would further regulate the transactions of uncompleted residential units by legislation to protect the rights of buyers and the healthy development of the property market. Speaking on the construction of public housing, he re-iterated that the Government would build 19,000 units as announced previously, and would make necessary decisions after the completion of these units. He said two lots originally planned to be sold by auction were now reserved for public housing. The tender procedures of the planned public housing construction will begin by June, he said.
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The Government will give another 3,000 patacas to every permanent resident and 1,800 patacas to every non-permanent resident in the latest effort to help alleviate the pressure the people faced with inflation. Attending a question-and-answer session of the Legislative Assembly today, Chief Executive, Mr Chui Sai On, said the Government was very concerned with the livelihood of the residents and the pressure they faced with inflation brought on by external factors which Macao had limited options in tackling. Mr Chui explained that the decision for the second round of payment was made after very thorough consideration, taking into account inflation, public opinion, and the surplus in the treasury account. After discussion in the Executive Council, the Government would submit a cash subsidy bill to the Legislative Assembly for the 1.7 billion patacas the latest move would cost. The Government had announced in November last year that permanent residents would be given 4,000 patacas and non-permanent residents 2,400 patacas each. It is estimated that this round of distribution would increase the inflation rate by 0.45 per cent for a short period of time, he said. Mr Chui said the Government would also encourage enterprises to increase wages, while the administration would help solve housing problems of the middle-class, encourage life-long education, establish profession accreditation systems, study further reduction of personal income tax and facilitate the retirement and pension system, he said. The Government would also proactively expand import channels of food, ensure supply and encourage competition to maintain a stable food market.
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With the aim of promoting stability in the long-term development of residential mortgage lending business, the Monetary Authority of Macao (“AMCM”) has implemented since December 2010 the “Guideline on Residential Mortgage Loans”, under which the basic principles and standards for residential mortgage lending, such as loan-to-value (LTV) ratio, debt-servicing ratio, maximum loan maturity and the relevant risk management processes are established, and this guideline is also applicable to equitable mortgage loans on residential properties under construction Taking into account the recent growth of equitable mortgage loans, the increasing supply of uncompleted residential units in the near future and the higher risks associated with such loans than those of ordinary residential mortgages, after consultation with the Macao Association of Banks, the AMCM promulgated further supervisory measures for equitable mortgage loans granted for the purchase of residential properties under construction. That is, regardless of the value of properties, the maximum LTV ratio for equitable mortgage loans granted to Macao residents and non-Macao residents should not exceed 70% and 50% respectively. These tightening measures will come into effect on 21 April 2011and should be applied to all applications under review.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (19th April 16:01 till 20th April 16:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1160 and 0.1300μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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