News

Information from the Statistics and Census Service (DSEC) indicated that the average daily wage of construction workers was MOP547 in the second quarter of 2009, up slightly by 0.9% quarter-to-quarter. The average daily wage of skilled & semi-skilled workers (MOP580) rose by 4.1%, of which welders (MOP706), scaffolders (MOP665) and concrete formwork carpenters (MOP604) were earning higher average wages; meanwhile, the average daily wage of unskilled workers (MOP353) registered an increase of 2.6%. After discounting the effect of inflation, the wage index of construction workers for the second quarter of 2009 was 98.5 in real terms, up by 1.8% over the previous quarter. As regards construction materials, the average price of spiral and round reinforcing steel bars continued its downward trend from the last quarter, falling by 19.6% quarter-to-quarter to MOP4,122 per tonne, and that of cement declined slightly by 0.2% to MOP650 per tonne; however, the average price of concrete registered an increase of 1.6%, at MOP322 per cubic metre. In the second quarter of 2009, the price index of construction materials for residential buildings dropped further by 4.6% quarter-to-quarter to 121.3, of which the price indices of steel and concrete pipe piles decreased by 19.6% and 3.6% respectively, while the price indices of electric wires and aluminium went up by 11.0% and 1.6%. Compared with the same quarter of 2008, the price index registered a decrease of 20.5%.
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Information from the Statistics and Census Service (DSEC) indicated that the value of total exports of goods amounted to MOP620 million in June 2009, down by 58.8% year-on-year, with the value of domestic exports falling sharply by 72.6% to MOP268 million and that of re-exports dropping by 32.9% to MOP353 million. The value of total imports of goods amounted to MOP2.85 billion, down by 20.8% year-on-year. A trade deficit of MOP2.23 billion was recorded for June 2009. In the first half year of 2009, total exports of goods fell by 54.2% year-on-year to MOP3.90 billion, with the value of domestic exports and re-exports declining by 68.4% and 30.4% respectively. Meanwhile, total imports of goods slid by 21.4% to MOP16.85 billion, and the trade deficit for the first six months of 2009 widened slightly by 0.2% to MOP12.95 billion. The exports/imports ratio went down by 16.6 percentage points year-on-year to 23.1%. Analysed by destination of Macao’s exports, in the first half year of 2009, the value of merchandise exports to the USA, the EU and Mainland China decreased by 77.7%, 59.2% and 43.9% respectively year-on-year. The value of Textile & garment exports declined by 70.5% year-on-year to account for 38.6% of the total exports of goods; meanwhile, the value of Non-textile exports dropped by 29.9%. Regarding the country of origin of imported goods, the value of imports from Mainland China dropped by 42.6% year-on-year, but that from the EU rose by 7.1%. The value of imports of all broad economic categories registered year-on-year decreases, of which Raw materials & semi-manufactures dropped by 44.0% and Fuels & lubricants fell by 28.1%; meanwhile, the value of imports of Consumer goods recorded a slower decrease of 6.6%, with that of Food & beverages rising by 13.2%.
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The Macau SAR Government spares no effort to promote the development of the tourism industry. To support the travel trade in tackling the current adversity and to be in line with the celebrations of the 10th Anniversary of the Establishment of the Macau SAR, Macau Government Tourist Office has launched the “Plan to Support Macau Tourism Industry” on May 18, which has started to deliver results. After evaluation and listening to the views of the trade, MGTO is launching a revision committing more resources to boost the effect of the plan to stimulate leisure tourism, business tourism and the aviation industry so as to maintain the momentum and competitive edge Macau has been building as an international destination. Support to Leisure Tourism
The key projects under “Support to Leisure Tourism” are Celebrate Macau Tours and World Heritage “Historic Centre of Macau” Free Guiding Service. Preliminary results from the launch of the plan on May 18 till July 29 show that more than forty travel agents have organized 4,413 Celebrate Macau Tours (3,890 groups staying one night and 523 groups staying two nights or more) involving 103,043 visitors and a budget of MOP$3.44 million, while 9,289 visitors had enjoyed the Free Guiding Service. According to the revision in effect from August 1, MGTO will increase the amount of support to MOP$80 per guest for staying one night in hotel and MOP$200 per guest for staying two consecutive nights. To enable more flexibility on the travel agencies while launching the itinerary of the tour, Macau Museum and Handover Gifts Museum of Macau are new choices as must-visit spots for groups staying two nights or more. MGTO will also support the tour guides of the Celebrate Macau Tours with MOP$200 per guide per group that stays one night in Macau and MOP$400 per guide per group that stays two consecutive nights. The updated budget for Support to Leisure Tourism is MOP$32,000,000. Support to Business Tourism
The “Strategic MICE Market Stimulation Program” that MGTO introduced in May included three categories: Meetings and Conventions, Exhibitions and Incentives. From May 18 to July 29, the program has supported 12 meetings and conventions, 6 exhibitions and 5 incentive travel events, involving a budget of MOP5.91 million. Revisions of the program were made for basic supports, which are available for all categories, and additional supports by categories. Basic supports include a) promotional assistance, b) liaison with other relevant Macau SAR government authorities and c) bidding support. Additional supports by categories include expanding support scope, increasing amount of support and relaxing qualification for the Meetings and Conventions, Exhibitions and Incentives categories to enhance the program’s effectiveness to facilitate business tourism and allow more trade to benefit. Meetings and Conventions
1) Accommodation Support increased to 10%; 2) Food and Beverage or Meeting Package Support increased to MOP$400 per delegate for meetings with a minimum of 100 delegates and a duration of 2 full days; 3) Key-note Speaker & Heads of Delegation Hotel Support is a new item introduced to provide 2 nights hotel accommodation to each of the key-note speakers and heads of delegation for meetings with a minimum of 100 delegates and a duration of 2 full days; both 4) Site Inspections Support and 5) Bid Support remain unchanged. Exhibitions
1) Accommodation Support increased to 10%; requirement for applying 2) Exhibition Venue Rental Support, 3) Hardware Support and 4) Opening Ceremony Support, has been lowered to 2 actual event days; both 5) Site Inspections Support and 6) Bid Support remain unchanged; 7) Qualified Buyers Support is a new item introduced to support 50% of the transportation expenses (max MOP$3,000 per buyer) and 3 nights of hotel accommodation (max MOP$1,091 per night) for one buyer per 3m x 3m standard booth for exhibitions with a minimum of 1,000 sq. m. paid rental space per day and exhibiting for at least 2 days. Incentive Travel
The minimum requirement in the number of overseas participants in the incentive group has decreased to 50 and award dinners and local transportation are also qualified for support in incentive travel. The updated budget for Support to Business Tourism is MOP44 million. Support to Aviation Industry
In the tourism aspect, MGTO focuses on supporting the marketing activities of the airlines. Since the launch of the plan, Air Macau, VIVA Macau, Philippine Airlines, Cebu Pacific, Air Asia, Thai Air Asia, Jetstar Asia and Tiger Airways have submitted proposals for joint promotions. The revised plan to support 1) local carriers (Air Macau and VIVA Macau); 2) new routes to Macau and 3) airlines now flying to Macau via Board of Airlines Representatives (Macau) with promotional budget. The revision clarifies the definition of new routes as new scheduled flights operated by any airline, of new or existing origins, that were not operated in the past 12 months. The updated budget for Support to Aviation Industry is MOP35.5 million. Support to Revive Sichuan’s Tourism Industry
Representatives of MGTO around the world WILL invite travel trade and media to visit Sichuan via Macau to promote joint destination itineraries. When participating in travel fairs and roadshows abroad, especially in the target markets of Sichuan, MGTO WILL also showcase the tourism promotion material and latest tourism information of Sichuan. In addition to continuous support to flights from Macau to Chengdu, which stimulates more Macau residents to travel to Sichuan, MGTO has started cooperating with travel agencies from July 18 to introduce special packages to target the teachers and students segment markets during summer holiday. The budget for the support plan to Sichuan tourism remains at MOP20 million. To enhance the effectiveness of the “Plan to Support Macau Tourism Industry”, MGTO has added two support items in the revised plan, namely “Exemption of Renewal Fees of Licenses and Work Permits” and “Support to Industry Training”. Exemption of Renewal Fees of Licenses and Work Permits
MGTO will exempt the initial renewal fees for licenses and work permits of businesses or professionals, which have been licensed by MGTO before the date of implementation of such measure. However, the additional fees for overdue renewal of licenses and work permits will not be exempted. Businesses or professionals being exempted include hotels, guesthouses, restaurants, night clubs, bars, saunas and/or massages, health clubs, karaokes, travel agencies, tour guides and ground transfer agents. Support to Industry Training
MGTO will consider supporting training initiatives organized by travel trade associations for tourism employees to enhance the service quality of the industry. The amount of support will depend on proposals submitted to MGTO for evaluation by the travel trade associations. The overall budget after the launch of the revision to the “Plan to Support the Macau Tourism Industry” is MOP$136 million. As support to “Industry Training” will be approved on a case by case basis, the budget does not include the support amount for “Industry Training”. Please go to MGTO’s website http://industry.macautourism.gov.mo/en/index.php at for details of the plan and application procedures.
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Organised by the Macao Trade and Investment Promotion Institute (IPIM), co-organised by eleven chambers of commerce from home and abroad, “The 14th Macao International Trade and Investment Fair (MIF)” will be held at The Venetian-Macao-Resort-Hotel from 22nd to 25th of October 2009. Details for Participation in the “Macao Small and Medium Enterprises Exhibition (Macao SME Exhibition)” Small and medium enterprises (SMEs) play an important role in Macao and have always made tremendous contributions to the economic development of the territory. With the objective of further improving the quality of MIF’s services, to assist local SMEs transform and explore new overseas markets, so as to promote “Made in Macao”*1, “Macao Brands”*2 and assist the traditional trades of Macao in the introduction of “Innovative Products” and the development of “Products with agent in Macao”*3, building on the concept and experience of the “Macao Small and Medium Enterprises Exhibition” that was well received in the past two years, the 14th MIF will continue to set up the “Macao Small and Medium Enterprises Exhibition (Macao SME Exhibition)”, to be organised by Macao Chamber of Commerce and Macao Trade and Investment Promotion Institute, co-organised by The Macau Small and Medium Enterprises Association and Macao Businesswomen Association, and co-ordinated by the Macao Convention and Exhibition Association, the Macau Fair and Trade Association and the Association of Advertising Agents of Macau. 1 Products “manufactured in Macau”:
- For products “manufactured in Macau” and exported from Macau, exhibitors have to provide certificate of origin issued by Macao Economic Services. - For products “manufactured in Macao” and sold in Macau, exhibitors have to provide approval of industry issued by Macao Economic Services.
2 Products of “Macao brand”:
- For products of “Macao brand”, exhibitors have to provide trademark registration issued by Macao Economic Services or other valid documents.
3 Products “with agent in Macao”:
- For products “with agent in Macao”, exhibitors have to provide agent authorization of the products or other valid documents. On 30th July, the Organiser, Co-organisers and Coordinators held a briefing session for the “Macao Small and Medium Sized Enterprises Exhibition” of the 14th MIF at Macau Fisherman’s Wharf Convention and Exhibition Centre, with an aim to provide clarifications to the interested SMEs about the procedures and conditions of application for subsidy, in order to enable the SMEs to take full advantage of Macao as a regional service platform, to seize the opportunity of MIF to open up business opportunities and establish more extensive contacts abroad. Guests present at the “Macao SME Exhibition - Briefing Session” included Mr. Hoi Sai Iun, President of Macao Chamber of Commerce, Mr. Jackson Chang, Executive Director of IPIM, Mr. Li Zhi Zhong, Director of The 14th MIF Organising Committee, Mrs. Irene V.K. Lau, Deputy Coordinator and Secretary General of The 14th MIF Organising Committee, Ms. Kong Mei Fan, President of Macao Businesswomen Association, and Mr. Daniel Iong, Vice-Chairman of The Macau Small and Medium Enterprises Association. There will be about 120 booths of 9m2 each in the “Macao SME Exhibition”. To cope with the needs of the SMEs, IPIM will offer incentives to the SMEs for participating in the Exhibition. Applicants must satisfy the following conditions:
1) SME registered in Macao (total no. of Macao employees not exceeding 100);
2) Registered with Macao Finance Bureau for at least 2 years without tax in arrears;
3) At least 50% of the SME’s shareholding is owned by Macao resident(s) or enterprise(s) registered in Macao;
4) Fulfilling one the following requirements:
- Having participated in the “Macao SME Exhibition” of the 12th or 13th MIF;
- For new exhibitors, the applicants must be enterprises with products manufactured in Macao, Macao brand or products with agent in Macao IPIM will grant subsidy of MOP 5,400.00 to each booth of 9m2. In effect, the charges after subsidy for the 9m2 booth will be MOP 3,600.00. In addition, this year’s MIF will provide the following privileges to qualified SMEs in Macao: 1. Applications submitted before 10th August will be entitled to 10% discount; b. Exhibitors who have participated in the 12th MIF, 13th MIF, MIECF or GMBPF 2009 or MFE, will be entitled to 10% discount; c. Each exhibitor will be entitled to invite one qualified non-Macao-resident trade visitor to stay free in an official hotel of the 14th MIF; d. Each exhibitor will be entitled to free display of promotional video in IPIM’s Macao Trade and Invest Kiosk (15 second session, for 24 weeks, totaling 32,256 times). In order to enable more SMEs to open up business opportunities through MIF, each SME may apply for subsidy for up to one booth only, on a first-come-first-served basis. The pavilion will be divided into sections according to the enterprises’ business nature, and the allocation of booths will be determined by the drawing of lots among exhibitors at the same time. The Organiser will begin receiving applications for participation and exhibition subsidy in the “Macao SME Exhibition” from Tuesday 4 August to Friday 14 August from 9:00 A.M. to 5:45 P.M. The applicant must apply in person at the 14th MIF Administrative and Service Centre in Macao Business Support Centre located in China Civil Plaza, 20th Floor, Alameda Dr. Carlos de Assumpção no. 263, by submitting the Application Form and the following documents:
1) Copies of the latest M/1 and M/8 forms from Macau Finance Bureau;
2) Copies of I.D. of the company’s shareholder(s)/enterprise’s owner(s);
3) Copy of valid company search (within the last 3 months);
4) Copy of Social Security Fund Contribution Form (most recent); enterprises which do not employ any employees, must complete a declaration;
5) Cash, crossed cheque or bank draft payable to “Macao International Trade and Investment Fair”. “Macao SME Exhibition Application Forms” can be downloaded from our website at: www.mif.com.mo or obtained at any of the following locations:
1) IPIM - Macao Trade and Investment Promotion Institute
Av. Amizade no. 918, World Trade Centre, 4th Floor, Macao.
2) IPIM - Macao Trade and Investment Promotion Institute
Macao Business Support Centre
China Civil Plaza, 19th & 20th Floors, Alameda Dr. Carlos de Assumpção no. 263, Macao.
3) The 14th MIF Administrative and Service Centre
China Civil Plaza, 20th Floor, Alameda Dr. Carlos de Assumpção no. 263, Macao.
4) Macao Chamber of Commerce
Rua de Xangai 175, Edif. ACM 5 andar, Macao.
5) The Macao Small and Medium Enterprises Association
Largo de Santo Agostinho Sede – Banco Delta Asia, Macao.
6) Macao Businesswomen Association
Avenida de Horta e Costa No. 89-93, Edf. Centro Comercial Costa 4 andar B, Macao.
7) Industrial Association of Macao
Rua do Dr. Pedro Jose Lobo, No. 34-36, Edf. A.I.M. 17 andar, Macao
8) Macao Importers and Exporters Association
Av. do Infante D.Henrique No. 60-62, 3 andar, Centro Comercial Central, Macao.
9) Association of Knitting and Spinning Industry of Macao
Avenida da Amizade No. 271B Edf. Kam Wa Kok 6 andar A, Macao.
10) Macao Shipper’s Association
Avenida da Praia Grande No. 613-639, Edf. Comercial Si Toi, 18 andar, Rm 1801, Macao.
11) The Macao Association of Banks
Avenida da Praia Grande No.575, Direcçao dos Serviços de Finanças, 15 andar, Macao.
12) Macao Association of Building Contractors and Developers
Rua do Campo No. 103, 5 andar,
Macao
13) The Macao Chinese Enterprises Association
Avenida do Dr.Rodrigo Rodrigues Edf. Nam Fong, 13 andar, Macao For further information about participating in the 14th MIF, please contact The 14th MIF Administrative and Service Centre at tel: 2882 8711, fax: 2882 8722, and visit the MIF website at: www.mif.com.mo
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The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP141.9 billion (USD17.78 billion) at the end of June 2009. The reserves rose by 0.9% from the revised value of MOP140.6 billion (USD17.61 billion) for the previous month. When compared with the same period last year, the reserves increased by MOP23.5 billion or 19.8%. Macao SAR’s foreign exchange reserves at end-June 2009 represented 31 times the currency in circulation or 249.7% of Pataca M2 at end-May 2009. The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency’s exchange rates against the currencies of Macao’s major trading partners, fell by 0.79 points month-to-month but rose by 3.55 points year-on-year to 90.55 in June 2009. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
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According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money supply M2 continued to increase in May. As total deposits with banks rose at a faster pace than total loans, the loan-to-deposit ratio slid slightly from a month ago. Money supply
Due to the increases of currency in circulation and demand deposits, M1 rose 4.9% month-to-month. Meanwhile, quasi-monetary liabilities edged up by 1.9%. The sum of these two items, i.e. M2, rose 2.3% to MOP201.9 billion. On an annual basis, M1 and M2 rose 12.2% and 9.4% respectively. The share of Pataca (MOP) in M2 stood at 28.2%, down 0.2 percentage points over a month ago but up 0.1 percentage point from a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 53.6%, up 0.2 percentage points month-to-month or 0.6 percentage points year-on-year. Deposits
Resident deposits rose by 2.3% from the previous month to MOP197.3 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits grew at respective rates of 1.6%, 2.6% and 2.3%. Meanwhile, non-resident deposits climbed 1.2% to MOP71.5 billion whereas public sector deposits with the banking sector slid slightly by 0.7% to MOP13.1 billion. As a result, total deposits with the banking sector edged up 1.9% from the previous month to MOP281.9 billion. The shares of MOP and HKD in total deposits were 22.2% and 45.4% respectively. Loans
Domestic loans to the private sector grew 0.7% month-to-month to MOP92.7 billion. Among which, MOP19.8 billion was MOP-denominated and MOP66.8 billion was denominated in HKD, representing 21.3% and 72.1% of the total respectively. In the meantime, external loans rose by 3.3% to MOP58.3 billion; of which, loans denominated in MOP and HKD accounted for 1.8% and 58.0% respectively of the total, at values of MOP1.1 billion and MOP33.8 billion. Loan-to-deposit ratios
As resident deposits grew faster than domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-May 2009 dropped by 0.6 percentage points month-to-month to 44.1%. The ratio for both the resident and non-resident sectors stood at 53.6%, down slightly by 0.1 percentage point.
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The total number of Influenza A (H1N1) cases reached 167 today as Macao confirmed two more cases. The two patients, a man and a woman, were aged between 19 and 22. They both lived with a confirmed H1N1 patient and all the three members of that family were infected. To date Macao had reported 167 Influenza A (H1N1) cases, with 12 patients receiving treatment. Three patients had recovered and were discharged from hospital today, taking the total number of discharged patients to 141. Macao’s pandemic alert remained at Level VI, Blue, which indicated that there were no fatal cases and the spread of the virus was moderate.
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Under the joint supervision of the Macao Administrative Region and the People's Government of Guangdong Province and jointly co-organized by the Macao Trade and Investment Institute (IPIM) and the Guangdong Provincial Bureau of Foreign Trade and Economic Cooperation, the "Guangdong & Macao Branded Products Fair 2009" (GMBPF 2009) will be held at the Macau Fisherman's Wharf's Convention and Exhibition Centre from 30 July to 2 August, 2009. Following the "Western Guangdong Famous Products Fair", jointly held by the two territories in April 2003, the GMBPF 2009 is another grand economic and trade event for the further implementation of the "Strengthening the Comprehensive Strategic Cooperation Agreement" signed between IPIM and the Guangdong Provincial Bureau of Foreign Trade and Economic Cooperation in early March this year, to correspond with the "Reform of the Pearl River Delta Regional Cooperation Framework". The Fair will bring together Macao's advantage as a tourist destination and develop its function as a trade and economic service platform. Designed for both local residents and tourist, GMBPF 2009 aim to foster the local economy, speed up the entrance of the Mainland and Macao's branded products to the local and overseas markets and assist the enterprises from both territories to grasp more business opportunities at the current financial crisis. In addition to the great support rendered by various entities in Guangdong and Macau, the All-China Federation of Industry and Commerce, China Council for the Promotion of International Trade (CCPIT) and the Trade Development Bureau of the Ministry of Commerce of the People's Republic of China have been invited as supporting organizations. Furthermore, over forty government bureaus, trade promotion organizations, chambers of commerce and business associations will act as co-organizers. GMBPF 2009 is organized by Macao Trade and Investment Promotion Institute (IPIM). The Chief Executive of Macao Special Administrative Region, Mr. Edmund Ho Hau Wah, the Vice Governor of the People's Government of Guangdong Province, Mr. Wan Qingliang, and the Secretary for Economy and Finance Macau SAR, Mr. Francis Tam Pak Yuen, have been invited to preside over at the inauguration ceremony. Besides, one of the co-organizers, the Guangdong Provincial Bureau of Foreign Trade and Economic Cooperation, will organize a government and business delegation comprising of over 150 members, lead by Director Lian Yaowen, to attend the opening ceremony and participate in the business negotiation activities. In view of the current financial crisis, the Organizers expect that the organization of the GMBPF 2009 will enhance the brand-name recognition of Guangdong's branded products not only in the consumer markets of Macao but in the Portuguese-speaking countries as well, and further straighten and diversify the economic and trade cooperation between Guangdong and Macao. PARTICIPATION OF OVER 200 GUANGDONG AND MACAO ENTERPRISES
LARGE AND DIVERSIFIED PRODUCTS ON DISPLAY AND FOR SALE There will be a large and diversified range of products on display and for sale during the Fair. At the Exhibition and Sale Zone, there will be 259 booths, including exhibition and sale booths for several of Guangdong's ten largest branded enterprises and over ten of Macao's branded enterprises. The 6.000 square metres Exhibition Hall will comprise the "Guangdong Branded Products Exhibition and Sale Area", where branded products of Guangdong's enterprises, arranged by municipality, will be on display and for sale. Branded enterprises from Guangdong and Macao strongly support the Fair: 121 branded products from 18 municipalities in Guangdong Province, namely Guangzhou, Shenzhen, Zhuhai, Shantou, Foshan, Shaoguan, Meizhou, Huizhou, Donguan, Zhongshan, Jiangmen, Yangjiang, Zhanjiang, Maoming, Zhaoqing, Qinyuan, Chaozhou and Yunfu, including some of China's 100 or 500 largest or leading enterprises in their respective fields, namely "Yangjiang Shibazi", "Landbond Furniture" and other China's national famous trade marks, as well as "Double Happiness" and "Linkfair", which are famous trade marks in Guangdong Province, And Yangjiang Shibazi Group, Limited, Double Happiness Cooker Company Limited, Guangdong Xiyan Xiyan Group Company, Limited, Guangdong Linkfair Group Company, Limited, and Guangdong Zhanjiang Household Electrical Appliances Company, Limited, among others, will be present. Products on display include those with regional characteristics, embracing, essentially. food, daily necessities, electrical appliances, handicrafts and tourist souvenirs, among others. In the Exhibition Hall, there is a Macao Branded Products Area, with over sixty stands for the local enterprises, a major part of which are Macao's branded products, "Made in Macao" products or products with agents in Macao, to showcase to the visiting merchants the image of Macao's branded products and to correspond and cooperate with participating enterprises from Guangdong Province. On the other hand, the bureaus of foreign trade and economic cooperation of the participating municipalities will also have their own special zones, to promote the investment environment, development status of the various industries and business opportunities of their respective municipalities. MULTI-DIMENSIONAL COMMERCIAL ACTIVITIES (BUSINESS MATCHINGS, SOURCING NEGOTIATIONS, PROFESSIONAL BUYERS) FOR CLOSER COOPERATION BETWEEN GUANGDONG AND MACAO During the Fair, more than ten trade and economic promotion seminars will be held, where several famous branded enterprises from different business sectors will be invited to discuss about business opportunities and market information in their respective fields, including world-famous e-trade brand "Alibaba.com" and on-line auction and shopping website "eBay Inc.", which will talk about the latest development and trends in the electronic business, so as to further assist local enterprises to develop business opportunities in electronic trade. At the same time, IPIM and Macao Chamber of Commerce will hold a Seminar on the Participation in the "Small and Medium-Sized Enterprises' Expo" during the forthcoming 14th Macao International Fair, to attract participants to and promote the "SME's Expo" in the 14th MIF. To promote the cooperation between Guangdong and Macao buyers with international buyers, the Organizers have invited several well-known brands from Mainland China and abroad to participate in the Fair along with the local retailers of general merchandises, to jointly promote the development of the Guangdong and Macao economic and trade platform through economic ties. In this connection, world-famous retail brand, Wal-Mart Stores, Inc., and Guangzhou Grandbuy Company, Limited, (a Guangdong Province's famous department store) will be present at the Fair for sourcing negotiations and establishment of business relationship with local enterprises to promote the economic and trade cooperation of Guangdong and Macau branded products with the international branded enterprises. To facilitate business negotiations between the participating enterprises and the specialized buyers, the Organizers have specially set-up a business matching and sourcing area at the Exhibition Hall. ACTIVE JOINT PROMOTION OF THE FAIR'S BENEFITS In order to enhance the benefits of the Fair, the Organizers, in cooperation with various Macau government bureaus, chambers of commerce and business associations, started preparatory works in various fronts, namely in promotion and advertisement, tourist attraction, Fair participation, performances and business negotiations, among others, including inviting Macao's Travel Industry Council of Macau and travel agencies to organize tours to visit the GMBPF 2009. In conjunction with the local co-organizers of the GMBFP 2009, IPIM have organized specialized buyers for business matching so as to further promote a more efficient tie between the manufacturing, sale and agency enterprises. Up to the present, the Organizers have arranged, at this preliminary stage, nearly 130 sessions of pre-business matching and commercial negotiations, principally in the following areas: food, consumer products, daily necessities, trendy clothes and cosmetic products from over 200 branded Guangdong and Macao products. Up to the present, nearly 70 participating trade and sourcing delegations have already registered their participation in the GMBPF 2009. SPECTACULAR ARTISTIC AND CULTURE SHOWS TO CREATE A CARNIVAL ATMOSPHERE As this year's large-scale business activity, "Guangdong & Macao Branded Products Fair 2009" have designed lots of promotion activities, including: "Big Discount for Branded Products", "Consumer Coupons Entitling to Big Prizes" and "Lucky Draw", among others. Up to the present, 43 Guangdong and Macao enterprises have already provided 90 different types of merchandises, including electrical appliances, bedding, food, leather articles, clothes and electronic locks for promotional activities, as a reward to the Macao, Mainland China and overseas merchants and the public. Branded products of these enterprises will be available for sale at discounted price, for promotion during the Fair. In order to stress the carnival-atmosphere of the Guangdong & Macao Branded Products Fair 2009, the Government of Macao SAR and related Macao and travel associations have given their great support to the Fair and organized specialized performances with Macao's characteristics, such as the Portuguese Folk Dance, during the Fair. In addition, there will be cultural and artistic performances, including dancing and singing by Hong Kong artist Nancy Wu, Johnny Yip, Alice Lau, LiXia Li, Lee Loon Ki, Matthew Ko and Grace Wong. Macao singers include Solar, Miro and YanYan Yong. A troupe from Zhongshan will perform non-musical instrument vocal accompaniment, while Bro 5 will present hot dances and songs. Macau Children Arts Troupe will present dancing, guqin instrumental ensemble to bring life to the Fair, enhance the promotional effect and the cultural exchange among Guangdong, Hong Kong and Macao. During the Fair, there will be different performances at the Roman Amphitheatre every day and at different time intervals. Entrance is free for visitors to the Fair. COMPREHENSIVE LAUNCHING OF THE PROMOTIONAL ACTIVITIES. In order to promote the various aspects of the "Guangdong & Macao Branded Products Fair 2009", press conferences were held in Guangzhou and Macao. Promotion of the GMBPF 2009 started at full speed since July this year. Apart from reports and advertisement in the mainstream media of Guangdong, Hong Kong and Macao, the Organizers have also arranged outdoor advertisements at the ports, tourist spots, public transport of Macao, supplemented by moving vehicles and street banner advertisements to promote this great event. Furthermore, the Organizers will also publish a booklet to actively promote the investment environment of the participating municipalities of Guangdong Province and Macao as well as the branded enterprises and products of Guangdong and Macao showcased at the Fair. FREE SHUTTLE BUS SERVICE AND PARKING TO FACILITATE LOCAL RESIDENTS, TRADE VISITORS AND TOURISTS During the Fair, the Organizers will arrange free shuttle bus service between Macao and Taipa urban areas, including: Avenida Dr. Mário Soares, Macau Square, Avenida Conselheiro Ferreira de Almeida, Parklane bus stop near Rua Coutinho, Avenida de Cantão, at Taipa Island – next to Hung Fat Garden, as well at all ports (Border Gate and all maritime terminals) and all designated hotels to transport citizens to the Fair. Furthermore, 2-hour free parking will be provided at the Convention and Exhibition Centre of Macau Fisherman's Wharf. Preparatory works for the Guangdong & Macao Branded Products 2009 are coming to an end. Exhibitors from Guangdong and Macao will start the construction and decoration works at the site tomorrow (July 29). After 100 days of attentive preparation, the GMBPF 2009 will begin soon. The Organizers sincerely invite merchants from Mainland China and abroad, local citizens and tourists from all over the world to participate in this grand occasion for the economic and trade cooperation between Guangdong and Macao, to visit, shop, discuss business, watch the performances, all in all, to enjoy the 2009 Summer shopping carnival. Opening hours: 2 July (Thursday): 12:00 noon to 10:00 p.m., 31 July to 1 August (Friday and Saturday): 11:00 a.m. to 10:00 p.m; 2 August (Sunday): 11:00 a.m. to 10:00 p.m. GMBPF 2009's Administrative and Service Centre is located at Alameda Dr. Carlos d'Assumpção, no. 263, China Civil Plaza, 20th Floor, Macau Business Support Centre (MBSC). For further information about GMBPF 2009, please call our hotline (853) 8798 9707 or visit the following website: http://www.guangdongmacaofair.com
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Prologue
2009 marks the 10th anniversary of the return of Macao to the Motherland and the 20th anniversary of the Monetary Authority of Macao (AMCM). In the past 20 years, especially after the founding of the Macao Special Administrative Region (MSAR), the economy has emerged from recession to recovery and proceeded to rapid growth. Under the leadership of the MSAR Government and support of the financial sector and other sectors of the community, AMCM has maintained the stability of the Macao financial system, reinforced the foundation for Macao financial industry for continuing to develop in a sustainable and stable manner. Development of Financial System
The financial industry has made full use of the opportunity rendered by economic development to sprout and grow. In 1999, there were 23 banks operating in Macao with aggregate assets of MOP 139 billion, deposits of MOP 100.6 billion and loans of MOP 53 billion in addition to 25 insurance companies earning annual premiums of MOP 1 billion. As at the end of May 2009, banks operating in Macao increased to 28 with aggregate assets of MOP 399.8 billion, deposits of MOP 281.9 billion and loans of MOP 151 billion. Insurance companies numbered 24 earning annual premiums of MOP 3.46 billion. At the same time, there has been an increase in the variety of financial products offered. Personal RMB business started to become available in November 2004. We have witnessed continued enhancement in the network, channel and quality of services, risk management, control and resistance which has been vindicated by the fact that our financial system remained intact in the recent unprecedented global financial crisis while its overall operating results remained buoyant. Financial Supervision
In the course of financial development, the bedrock is financial stability. Regular, appropriate and timely supervision is the key to maintaining financial stability. In the past 10 years, financial supervision has been enhanced and reinforced. AMCM has been keeping an watchful eye on the development and morph of Macao financial industry. Based on international standards and the practical local market conditions, AMCM relentlessly perfects all supervisory regulations and directives, continues to improve supervisory practices, proactively open channel of dialogue with market participants, guard market entrance sternly, bash money-laundering, actively enhance comprehensive supervision and assiduously develop cooperation between external and internal supervision. As a result, Macao financial supervision secured a positive assessment on its ability to align with international standards and best practices in the 2008 appraisal conducted by the IMF. Besides, AMCM has along been bashing illicit financial activities. It cooperates with neighboring and the regional financial supervisory authorities in this respect and has scored expected results which have suppressed illicit financial activities. Order of financial markets has further improved. Monetary Policy
A stable macro-economic scenario is secured by an orderly circulation of currency and a stable exchange rate. All along, AMCM implements strictly a currency board system, guards the policy of linking the Pataca with Hong Kong Dollar. It actively promotes the circulation of the Pataca in peripheral regions, especially the Guangdong Province. In 2004, the State Council sanctioned the conduction of RMB business in Macao while the Pataca was allowed to be quoted in forex transaction centre in the PRC which no doubt has promoted the circulation and reputation of the Pataca. Past experience has vindicated that maintaining a pegged rate between the Pataca and Hong Kong Dollar facilitates economic development of Macao and is beneficial to stability of the Macao financial system, economy and community. Financial Infrastructure
The perfection of fundamental financial facilities will promote capital flow which stimulates economic activities. The cross border clearing systems of Hong Kong and Macao in respect of cheques denominated in HKD and USD started to become functional in 2007 and 2008. At the moment, the Macao real time payment system under construction is expected to interface with the real time clearing systems of the Mainland and Hong Kong, which will facilitate cross border cash clearing efficiency between Guangdong, Hong Kong and Macao. It will further promote cooperation and integration of economic and financial scenario of the three regions. Financial Data
Financial statistics are of help in facilitating appraisal of performance of financial industry and formulation of relevant policies. High quality research can further enhance credibility of policy, as well as capability in risks supervision. To further perfect financial research and statistics, AMCM, in coordination with the Financial Services Bureau and Statistics and Census Bureau, joined the “General Data Dissemination System” of the IMF in the name of the MSAR. The move not only raises the quality of financial market information of Macao, it also increases its degree of transparency, steering Macao financial research and statistics to converge with international standards. Management of Reserves
Benefitting from continued economic growth and exports of services, foreign exchange reserves of the MSAR Government increased from MOP 22.9 billion when Macao reverted to China in 1999 to MOP 140.6 billion as the end of May 2009. All along, AMCM has been formulating an investment strategy based on the principle of prudence and stability and in accordance with the change in international financial markets. To a certain degree, returns realized over the years have contributed to the enlargement of the foreign exchange reserves. Cross Border Communication and Cooperation
The expansion and deepening of cross border financial communication and cooperation will promote economic diversification. AMCM has been endeavoring in promoting regional financial communication and cooperation, with special emphasis on the function as platform for cooperation between the Mainland and Portuguese speaking countries. 10 years since the return of Macao, AMCM has been organizing representatives of financial sector to visit Portuguese speaking countries and the Mainland, hosting conferences of financial regulators of Portuguese speaking countries. These moves have greatly promoted regional financial cooperation and integration. It has signed memoranda of understanding with the regulatory authorities of the Mainland, Hong Kong, Portugal and major Portuguese speaking countries, established regular meeting and communication mechanisms and staff training programmes. On the other hand, Macao has joined a number of authoritative international and regional organizations which helps to promote the international status of Macao and imparts a better understanding of Macao to international community. Work Review
The financial system has had a smooth transition in the process of the return of Macao and grasped new development opportunity during the initial stage of the formation of the SAR. The supervisory authority has played a part in coordinating market expansion, as well as market practice and order. AMCM will continue to build up experience, identify deficiencies, and make the necessary supplement in a timely manner. In this way, it is able to facilitate the sustainable growth and enhancement of the financial system which is conducive to achieving better results in the future.
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Macao reported six new Influenza A (H1N1) cases today, bringing the total number of such cases to 149. The six patients are all females, aged between 17 and 41. Three of them visited Hong Kong between 16 and 22 July. They showed flu symptoms on 18 July and were all tested positive for the virus today. To date Macao had reported 149 Influenza A (H1N1) cases, with 15 patients receiving treatment. Nine patients had recovered and were discharged from hospital today, taking the total number of discharged patients to 113. Macao’s pandemic alert remained at Level VI, Blue, which indicated that there were no fatal cases and the spread of the virus was moderate.
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