News

The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR's foreign exchange reserves amounted to MOP246.8 billion (USD30.75 billion) at the end of September 2011. The reserves rose by 3.3% from the revised value of MOP238.9 billion (USD29.75 billion) for the previous month. When compared with a year earlier, the reserves increased by MOP77.2 billion or 45.5%. Macao SAR's foreign exchange reserves at end-September 2011 represented 44 times the currency in circulation or 344.7% of Pataca M2 at end-August 2011. 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, rose by 0.98 points month-to-month but fell by 3.18 points year-on-year to 87.32 in September 2011. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
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The Chief Executive, Mr Chui Sai On, will visit Guangzhou tomorrow to attend the opening ceremony of the 110th China Import and Export (Canton Fair) on Frinday, at the invitation of the Ministry of Commerce. This is announced today by a statement by the Government Spokesperson Office. Members of the Chief Executive's delegation include the Secretary for Economy and Finance, Mr Tam Pak Yuen, the Secretary-General of the Executive Council and Advisor of the Office of the Chief Executive, Ms O Lam, and the President of Macao Trade and Investment Promotion Institute, Mr Cheong Chou Weng. Mr Chui and the official delegation are scheduled to return to Macao on Friday afternoon. The Secretary for Administration and Justice, Ms Florinda Chan, will be Acting Chief Executive while Mr Chui is away.
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Recently the University of Macau (UM) Charter Revision Task Force (the Task Force) travelled to Portugal and met with representatives from the Ministry of Science, Technology and Higher Education of Portugal, the Portuguese Council of Rectors, and several Portuguese higher education institutions (HE institutions). Ideas were exchanged over such issues as the autonomy of HE institutions, the nature of legal personality, and foundation system for public HE institutions. The visits have deepened the Task Force's understanding of higher education system reform in Portugal as well as the process of adopting the new higher education act in Portugal. The findings from these visits are considered to be relevant and useful to UM's Charter revision. Following previous visits to Asian regions, including Singapore and Hong Kong, the Task Force visited Portugal between the 25th and the 30th of September, in order to learn more about the changes and developments of the governance modes of public HE institutions in Europe in recent years. The delegation included UM Rector Wei Zhao; Task Force members Anabela Fátima Xavier Sales Ritchie, Sou Chio Fai, and Iao Man Leng; Legal Advisor of the Office of the Secretary for Social Affairs and Culture Manuel Fernando Manaças Ferreira; UM Vice Rector (Research) Prof. Rui Martins; and UM Vice Rector (Administration) and Task Force Secretary Dr. Alex Lai. The Task Force successively visited State Secretary for Higher Education of Portugal João Filipe Queiró; former Secretary of State for Science, Technology and Higher Education of Portugal Manuel Heitor; the Superior Technical Institute of Technical University of Lisbon; the Portuguese Council of Rectors; and the University of Coimbra. The Task Force discussed the reasons why the Portuguese government passed the revised higher education act in 2007 as well as the impact of the new act, after it came into effect, on the governance autonomy, accountability, and the nature of legal personality (including the newly-established university foundation system) of public HE institutions as well as the long-term development of higher education in Portugal. The Task Force also held in-depth and fruitful discussions with leaders from relevant government departments as well as rectors and vice rectors of seven universities, namely the University of Porto, Aveiro University, Minho University, the New University of Lisbon, the University of Beira Interior, the Superior Technical Institute of Technical University of Lisbon, and the University of Coimbra. Former Secretary of State for Science, Technology and Higher Education of Portugal Manuel Heitor noted that it is an international trend in the development of higher education that public HE institutions are being granted more autonomy. In 2005, realizing the important role higher education plays in the social and economic development of Portugal—and also seeking to support the national policies aimed at raising the nation's scientific research level—the Portuguese government commissioned the Organization for Economic Cooperation and Development (OECD) to conduct a thorough review of the higher education situation in Portugal, and "institutional governance" was the most important issue reviewed. State Secretary for Higher Education of Portugal João Filipe Queiró pointed out that the 2007 revision of the higher education act in Portugal was based on the review report and suggestions by the OECD and aimed to grant more autonomy to public HE institutions, and such autonomy is most evidently reflected in the organizational structure, power-responsibility relationship, financial autonomy and human resource management of HE institutions. Similar to Singapore and Hong Kong, under the new higher education act, the Portuguese government set up quality assurance and review bodies to carry out evaluation and review on HE institutions in the capacity as independent private legal persons. The Portuguese government also added a very important provision in the new higher education act, which is allowing public HE institutions to operate in the form of public foundations under private laws. Public HE institutions in Portugal have all along been public legal persons, and therefore they are subject to laws and systems applicable to public legal persons of other administrative natures. This situation began to change in 2007 when the new higher education act introduced an operational mode where public HE institutions are allowed to operate in the form of public foundations under private laws. Under the new law, public HE institutions in Portugal are allowed to end their status as public legal person and obtain, through certain application procedures, the status as public foundation under private laws, so that they can "achieve their objectives" on the back of the "merits of the management systems and legal structures". The University of Porto and Aveiro University have already obtained government approval to operate in the form of public foundations under private laws, and earlier Minho University also submitted an application to operate in the framework of the university foundation system. Members of the Portuguese Council of Rectors pointed out that HE institutions, if they choose to adopt the new university foundation system, will obtain more autonomy in the following three areas: (1) ownership of the institution's fixed assets; (2) financial system independent of the government's financial system, and (3) personnel management system no longer linked to the personnel system for civil servants. So far three public HE institutions have obtained government approval, and another one is waiting for government approval. However, heads of some Portuguese universities noted that they are now in a wait-and-see mood about the new university foundation system, because in recent years Portugal is experiencing a downward economic spiral, and some funding-related reforms have not been implemented as planned, and there are signs that the government is tightening funding for HE institutions, and maybe those are reasons why "autonomy" and "flexibility", which are supposed to be allowed under the new system, have failed to manifest themselves, at least not to the extent anticipated. Anabela Fátima Xavier Sales Ritchie noted that the visits enabled her to obtain more new information about the HE system reform in Portugal. She added that there are indeed some merits about the university foundation system, but in-depth examination as to whether this system is suited to the actual situation of UM and Macao is still necessary. She added that in seeking more flexibility and autonomy and a greater degree of modernization, one should follow the evolution of a system that has a lot to do with the origin and identity of UM. UM Rector Wei Zhao noted that the new higher education act in Portugal has been formulated on the basis of the rigorous review report by OECD as well as the relevant experience of advanced European countries such as Germany, Sweden and Austria, and therefore it is of great relevance and use to UM's Charter revision. Wei Zhao also remarked that given that UM is the same as the public HE institutions in Portugal in that institutional autonomy is hamstrung by their status as public legal person, the newly-established university foundation system in Portugal is indeed worth studying, because it may offer a solution to the financial, property, administrative and personnel management difficulties faced by public HE institutions, including UM. He added that he will further discuss with the other Task Force members about the feasibility of implementing this system at UM.
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As the one of the major highlights of the 16th Macao International Trade and Investment Fair (16th MIF), the "International Trade and Investment Forum 2011", will be held at 3pm on 20 October 2011, in the Sicily Room of the Venetian Macao-Resort-Hotel. Ministerial ranking government officials from overseas and leading businesspeople will be delivering speeches. In addition, Renowned economic expert from mainland China, Mr. Cao Yuanzheng, chief economist at the Bank of China will give a presentation, thus reinforcing the allure of the event. The "International Trade and Investment Forum 2011" is jointly organised by China Council for the Promotion of International Trade, Investment Promotion Agency of Ministry of Commerce, P.R.C., All-China Federation of Industry and Commerce, Macao Chamber of Commerce and Macao Trade and Investment Promotion Institute (IPIM), with the theme of "Regional Co-operation to Explore New Development" The "International Trade and Investment Forum" is the most important forum of this year's MIF, high-level officials and business leaders from various regions have been invited to speak during the conference. There will be speeches by a variety of ministerial officials from Portuguese-speaking countries. In addition, Mr. Yu Ping, Vice Chairman of China Council for the Promotion of International Trade, Mr. Liu Zhiqiang, Vice Chairman of All-China Federation of Industry and Commerce and Mr. Kou Hoi In, President of the Board of Directors, Macao Chamber of Commerce will also be speaking at the forum. Mr. Cao Yuanzheng, chief economist at Bank of China will give a presentation, thus further reinforcing the appeal of this event. Mr. Cao Yuan Zheng is a renowned economic expert in Mainland China, his analyses have been widely covered by the media. Before joining the Bank of China, Mr. Cao served as an economist for the World Bank, Asian Development Bank and the United Nations Development Programme. He served as expert for governments in economies, such as the Czech Republic, Kazakhstan, Kyrgyzstan, Mongolia, Uzbekistan and Vietnam. Mr. Cao has been involved in areas of Chinese economic reform for a long time, he joined the Bank of China International in 1998, and was responsible for a series of large listings on the Mainland and overseas, namely the IPO of the Bank of China, China CITIC bank, Ping An Insurance and the CNOOC. All local and overseas participants from business communities and other sectors are welcome to join the International Trade and Investment Forum 2011. Places are subject to availability. For further enquiries and registration, please contact Ms. Kuok in IPIM's Research and Information Division on 8798 9127, Fax: 2872 8208 or 2859 0309 or email ipimpcom@ipim.gov.mo.
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Representing Macau SAR Government, Secretary for Social Affairs and Culture, Cheong U, accompanied by Director of MGTO João Manuel Costa Autunes, led a delegation to participate at the 19th Session of the UNWTO General Assembly in Gyeongju, Korea during the period of 9th to 11th of October. Cheong U and his delegation attended the Opening Ceremony and Welcome Dinner on 9th October, held at the Gyeongju Arts Center. Officiating the Opening Ceremony include Prime Minister of Korea Kim Hwang-Sik, Secretary-General of UNWTO Taleb Rifai and Deputy Secretary -General of United Nations Asha-Rose Migiro. On the 10th, together with other ministers or heads of tourism authorities around the world, Cheong U participated at the Ministerial Round Table (MRT) themed on "Fostering Growth and the Achievement of the Millennium Development Goals through Tourism, Culture and Sports". Taking this prestigious occasion, Cheong U delivered a short presentation at the MRT, depicting the importance of tourism to Macau and the goal of developing Macau into a World Centre of Tourism and Leisure. Amongst other dignities who delivered their interventions included Vice Chairman of China National Tourism Administration (CNTA) Du Jiang, with whom Cheong U had a friendly talk before the MRT. Besides the General Assembly, members of the delegation also attended the meetings of the Executive Council and Commission for Asia and Pacific Region over the period of Oct 9th and 13th. Members of the delegation also include advisor of GSASC Luisa Ferreira, Head of Organizational Planning and Development Department Cheng Wai Tong and Head of Communication and External Relations Department Cecilia Tse. Macau is Associate Member of UNWTO since 1981 and participates actively in the related meetings. This year the event is held at the city of Gyeongju in Korea, which is an ancient capital city of the 1000 years of Silla Dynasty of Korea with their culture awarded with UNESCO heritage recognition.
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As part of the continuing cooperation between UNESCO and IFT in various aspects related to heritage management, Dr. Sharif Shams Imon and Dr. Ong Chin Ee of IFT's Heritage Studies Centre visited the UNESCO World Heritage site of Mount Sanqingshan National Park from 15 to 20 August 2011 to provide technical advisory services on issues relating to visitor management and development of a tourism management plan for the site. Mount Sanqingshan National Park is located in the west of the Huaiyu mountain range in the northeast of Jiangxi Province and was inscribed on the UNESCO's World Heritage List in 2008 for its outstanding natural beauty. During the visit, the team met with local authorities, familiarised themselves with the organisational arrangements relating to the preparation of the tourism plan, identified key tourism issues associated with the site and identified, discussed and shared ideas with local authorities and management staff on the essential requirements of an effective tourism plan. In addition, a training session attended by more than 40 officials and staff members of the site management office, was conducted in order to provide the related parties more knowledge on protection and management of heritage sites. Appointed the Knowledge Management Hub of the Asian Academy of Heritage Management (AAHM) by UNESCO and ICCROM in 2009, IFT has maintained close collaborative relations with UNESCO. In 2010, IFT was invited to provide customised training to curriculum developers, managers and trainers of Mount Lushan World Heritage Office. This year it was invited again by UNESCO to provide consultancy service and training to the management staff of Mount Sanqingshan World Heritage Office and local authorities with aims at strengthening their management skills and enhancing their awareness on site protection.
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To enhance the knowledge of the legal professionals on the developmental trends of the German Code of Criminal Procedure, in line with the existing Amendments to the Code of Criminal Procedure of the Macao SAR, the Law Reform and International Law Bureau (DSRJDI) is going to hold one workshop on "The German Code of Criminal Procedure: Historical-Evolutionary Perspective" on the upcoming October 13th, from 5:00 p.m. to 8:00 p.m., in the multi-function room of the DSRJDI, located at Alameda Dr. Carlos D' Assumpção, n. ° 398, CNAC Building, 6th floor, as part of the 2nd EU-Macao Co-operation Programme in the Legal Field. The 'workshop' will be conducted in English, with simultaneous translation into Cantonese and Portuguese by Professor Dr. Cornelius Nestler, Professor of Criminal Law and Criminal Procedure, Department of Criminal Law, University of Cologne, Germany. The following topics will be discussed in this session: 1. Overview of the German Code of Criminal Procedure;
2. The German trial system;
3. The German system of appeals;
4. The rights of the subjects under the German Code of Criminal Procedure;
5. The German procedural time limits. The 2nd EU-Macao Co-operation Programme in the Legal Field, which incorporates this workshop, has as its main objective the "Consolidation of the Macao Legal System" and will take place until December 2012. The execution of this Programme is organised by the Law Reform and International Law Bureau (DSRJDI), with the participation of several other MSAR's entities and public departments, namely, the Legal and Judicial Training Centre (CFJJ), the Legal Affairs Bureau (DSAJ), the Economic Services (DSE), the Financial Services Bureau (DSF) and the Institute of European Studies of Macao (IEEM).
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Information from the Statistics and Census Service indicated that a total of 91 hotels and similar establishments were in operation in 2010, comprising 60 hotels and 31 guest-houses; total number of guest rooms increased by 2.4% to 20,174. The hotel sector had 26,721 persons engaged at the end of 2010, up by 1.5% from a year earlier. Number of persons engaged in hotels totalled 26,564, increased by 1.5% year-on-year, while the 31 guest-houses had 157 workers (+1.9%). Attributable to the continuous increase in hotel guests, Total Receipts of the hotel sector amounted to MOP 14.24 billion in 2010, up by 29.2% year-on-year. Analyzed by item, Receipts from Room Sales (MOP 6.53 billion), Food & Beverages (MOP 3.11 billion) and Rental of Venues (MOP 2.22 billion) surged by 37.3%, 30.2% and 9.3% respectively year-on-year. Total Expenditure of the sector rose by 12.9% over 2009 to MOP 15.65 billion, of which Operating Expenses (MOP 5.48 billion), Compensation of Employees (MOP 4.13 billion) and Purchase of Goods & Commission Paid (MOP 1.79 billion) increased by 23.2%, 10.6% and 30.3% respectively year-on-year. Gross Value Added that measures the sectoral contribution to the economy surged by 36.4% over 2009 to MOP 7.08 billion. With the conclusion of a new hotel and increase in hotels' facilities, Gross Fixed Capital Formation soared by 88.3% year-on-year to MOP 4.88 billion.
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The front block and gardens of Government Headquarters will be opened to the public on 22 and 23 October, from 09:00 to 18:00. During the two-day Open Day, the Public Security Police Band and students from the School of Music and School of Dance of the Macao Conservatory will perform for visitors. There will also be guided tours of the ground floor of Government Headquarters and a photo exhibition of old Macao in the multi-purpose conference room. For more detail, please browse www2.gcs.gov.mo/openday or www.gov.mo.
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Coverage of the 2010 Service Sector Survey includes Real Estate Management; Security Services; Cleaning Services; Advertising; and Conference & Exhibition Organizing Services. In 2010, there were 177 Real Estate Management establishments, an increase of 6 over 2009, and number of persons engaged increased by 11.6% to 4,917. Total Receipts and Total Expenditure amounted to MOP 830 million and MOP 710 million, up by 4.1% and 13.6% respectively year-on-year. Gross Value Added that measures the sectoral contribution to the economy was MOP 476 million, down by 2.0% year-on-year; Gross Fixed Capital Formation decreased by 89.4% to MOP 4 million. There were 14 establishments engaging in Security Services, same as 2009. Number of persons engaged decreased by 4.2% to 4,422. Total Receipts (MOP 532 million) and Total Expenditure (MOP 466 million) dropped by 5.2% and 5.8% respectively year-on-year. In addition, Gross Value Added (MOP 465 million) and Gross Fixed Capital Formation (MOP 2 million) decreased by 3.1% and 36.6% respectively. Meanwhile, there were 102 establishments operating in Cleaning Services, an increase of 6 from 2009; number of persons engaged rose by 4.7% to 3,493. Total Receipts and Total Expenditure amounted to MOP 340 million and MOP 303 million, up by 12.3% and 14.6% respectively year-on-year. Gross Value Added increased by 9.1% to MOP 267 million; however, Gross Fixed Capital Formation decreased by 30.4% to MOP 3 million. Number of Advertising agencies totalled 328 in 2010, down by 20 year-on-year. Number of persons engaged decreased by 8.3% to 871, with paid employees accounting for 66.0% of the total. Total Receipts increased by 3.7% year-on-year to MOP 346 million, of which receipts from Advertising Services (MOP 223 million) rose by 11.7%, but receipts from Conference & Exhibition Organizing Services (MOP 118 million) decreased by 2.1%. Total Expenditure increased by 1.5% year-on-year to MOP 306 million; Gross Value Added (MOP 115 million) and Gross Fixed Capital Formation (MOP 13 million) went up by 14.3% and 20.0% respectively. Establishments of Conference & Exhibition Organizing Services increased to 24 in 2010, up by 4 from 2009, engaging a total of 118 persons (+38.8%). Total Receipts surged by 163.4% year-on-year to MOP 202 million; receipts from Provision of Conference & Exhibition Organizing Services amounted to MOP 185 million. Total Expenditure rose by 153.6% year-on-year to MOP 190 million; in addition, Gross Value Added amounted to MOP 29 million, up by 93.8%, while Gross Fixed Capital Formation expanded by 415.8% to MOP 1.4 million.
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