News

According to statistics released today by the Monetary Authority of Macao, on an annual basis, new approvals of mortgage lending continued to increase notably in the first quarter. On outstanding balance, residential mortgage loans (RMLs) rose at a faster pace than commercial real estate loans (CRELs). New Lending Approved For the first quarter of 2010, new RMLs approved by Macao banks increased by 5.4% quarter-to-quarter to MOP7.0 billion; of which, 93.0% was extended to residents. In terms of approved value, new RMLs to residents grew 14.5% whereas those to non-residents fell notably by 48.6%. When compared with the same period last year, new approvals of RMLs surged markedly by 208.3%. After a notable rise of 88.0% in the previous quarter, new CRELs approved decreased by 16.0% quarter-to-quarter to MOP5.3 billion; of which, 95.0% was granted to residents. In terms of approved value, new CRELs to residents and non-residents fell at respective rates of 12.8% and 50.6%. On an annual basis, new approvals of CRELs increased by 164.3%. Outstanding Balances As at end-March 2010, the outstanding value of RMLs reached MOP48.4 billion, an increase of 9.5% from three months earlier or 37.7% from a year ago. The resident component made up 87.6% of the total. Outstanding RMLs to residents grew by 11.3% whereas those to non-residents fell 1.6% during the first quarter of 2010. Concurrently, the outstanding value of CRELs rose 6.3% from end-December 2009 or 11.5% from end-March 2009 to MOP39.3 billion. Residents accounted for 84.6% of the loans. Outstanding CRELs to residents and to non-residents rose 4.1% and 20.1% respectively in the first quarter of 2010. Delinquency Ratios At the end of March 2010, the delinquency ratio for RMLs stood at 0.15%, down 0.04 percentage points from three months earlier or 0.09 percentage points from a year ago. The ratio for CRELs went up 0.11 percentage points from end-December 2009 but down 0.20 percentage points from end-March 2009, to 0.34%.
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Macau Government Tourist Office (MGTO) participates in the 24th Hong Kong International Travel Expo (ITE HK) at the Hong Kong Convention and Exhibition Centre from today (10th) to 13th June to promote leisure and business tourism of Macau. MGTO Director Engineer João Manuel Costa Antunes was invited to officiate the opening ceremony. In recent years, tourism development in Macau has experienced tremendous progress and offers world-class travel products to the visitors. To showcase the diversified tourism elements to the international and Hong Kong trade buyers and consumers, MGTO led the largest-ever delegation of MGTO officials and 41 Macau trade representatives from hotels, travel agents, airlines, shipping companies and DMCs to the fair. An in-booth cocktail was hosted on the first day of the fair to greet over 200 Hong Kong travel trade partners, MICE organizers and media friends. As our tourism industry evolves, tourism product and source market diversification are the current strategic objectives of MGTO. Thus, the “Experience Macau!” familiarization tour was organized on 9th June for ITE hosted overseas buyers to visit Macau’s World Heritage, unique tourist spots and new hotels and MICE facilities. The tour attracted 15 international buyer representatives from Mainland China, Taiwan, Thailand, Malaysia, the United States and Mexico. In Hong Kong, the “Experience Macau In Style” campaign is launched to promote Macau as an iconic stylish travel destination. To kick off the campaign, celebrity chef Miss Kit Mak was invited to attend the MGTO’s on-site seminar on 12th June to share her stylish travel experience in the “Taste Macau In Style” tour in Macau. The “Taste Macau In Style Booklet” will also be distributed on the consumer days (12th to 13th June) of ITE HK. “The 24th International Travel Expo Hong Kong (ITE HK) and the 5th MICE, Business & Incentive Travel Expo” is held from 10th to 13th June 2010 at the HK Convention and Exhibition Centre. It is a prime travel expo held annually in Hong Kong, and has attracted an international portfolio of exhibitors and visitors, providing a platform for mutual exchange among the travel industry. According to official release, there are over 600 international exhibitors from 50 countries and regions participating in the Expo.
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Hotel Management Year 2 Students of the Institute for Tourism Studies (IFT) have raised MOP182,854.50 for the Action Oasis of the Chinese Educators Association of Macau. The cheque presentation was held on 9 June, while Acting President of IFT, Ms. Florence Ian and student representatives presented the donation to Mr. Lei Pui Lam, President of the Chinese Educators Association of Macau and Ms. Ho Sio Kam, Director of the Chinese Educators Association of Macau. At the cheque presentation, students expressed that, through organising this meaningful fundraising campaign, they not only put what they learned from theories into practice, but also learned the importance of team spirit. They believed that this is a valuable experience and were grateful for the support of the sponsors. The Chinese Educators Association of Macau (ADEDM) was established in 1920. As one of the distinguished cultural and educational organisations in Macao, ADEDM strives to unite educators and enhance Macao’s education and social service. The association established “Action Oasis”, a charity fund that provides education opportunities to the poor children in the mainland. The fundraising campaign for the Action Oasis started in 2006. The fund provides financial assistance to the needy children in desertification regions of Mainland China. It helps to subsidy the schooling and living expenses, and offers practical educational facilities to improve their education conditions. Action Oasis also sponsored children in poverty and with good academic performance to go to Beijing for study trip. IFT has always been supportive to the Action Oasis, aiming to encourage the spirits of friendship and love among IFT students. Besides placing the donation boxes in the campus, IFT also arrange students to cooperate with the Chinese Educators Association of Macau in organising a large-scale annual fundraising event as their final project. This is the fourth year that the event was held; donations were mainly from the sales of the gala dinner tickets and the wine auction. The gala dinner was organised by Hotel Management Year 2 Students of IFT. Students meticulously prepared the delicious traditional Macanese cuisine for 90 guests. At the gala dinner, a singing contest was held, with the theme of “Macao Idol”, 8 IFT students have shown their singing talents and 3 judges presented prizes to the winners. The climax of the gala dinner, wine auction took place at the same time. After over one hour of bidding, the wines which were sponsored by various individuals and wine suppliers were auctioned for over 130K. Aside from enjoying the pleasant meal together with the show, the philanthropists were offering their helping hands to the poor students in the mainland. Since 2006, IFT has raised over 433K for Action Oasis of the Chinese Educators Association of Macau.
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Jointly organized by Macao Trade & Investment Promotion Institute (IPIM) and Department of Foreign Trade & Economic Cooperation of Guangdong Province, the “Guangdong & Macao Branded Products Fair 2010” will be held during July 22-25, at Macau Fisherman’s Wharf Convention and Exhibition Centre. According to the spirit of “Reform of the Pearl River Delta Regional Cooperation Framework” and “Strengthening the Comprehensive Strategic Cooperation Agreement” signed in last March, Guangdong & Macao Branded Products Fair 2010 demonstrates the specific action taken by Macao Trade & Investment Promotion Institute (IPIM) and Department of Foreign Trade and Economic Cooperation of Guangdong Province, to enhance coorporation between Guangdong and Macao on economic and trade. It is also another large-scale exhibition between Guangdong and Macao right after “Western Guangdong Famous Products Fair 2003” and “Guangdong & Macao Branded Products Fair 2009”. A total of 139 manufacturing enterprises of branded products from 18 cities had submitted their applications up to this moment, making it a fair with 252 exhibition booths, including a number of renowned brands from Guangdong. This year, the Organizer invited 2010 Guangzhou Asian Games Organizing Committee to offer Asian Games souvenirs for sales during the Fair, it can be expected as one of the key attractions. It is believed that it will bring mutual benefit to branded products, as well as creating the Guangzhou Asian Games trend climax through providing more choices on products for residents and tourists. The Fair Strengthen Specific Action on Economic and Trade Cooperation between Guangdong and Macao Last year, both governments of Guangdong and Macao, as well as exhibiting cities fully utilized the selling platform of “Guangdong & Macao Branded Products Fair 2009”, enhanced cooperation and exchange between 2 territories. Sales of branded products from the 2 territories were extended through exhibiting in the Fair, helped enterprises to develop their markets. More importantly, it served to withstand the impact from financial crisis and activated the consumer market under the attack brought by financial tsunami. Based on the success gained from last year, we can foresee “Guangdong & Macao Branded Products Fair 2010” will serve to explore and further activate sales markets in 2 territories for enterprises from Guangdong and Macao, also promote closer cooperation and exchange. The Fair will create more business opportunities for branded products from Guangdong province to get into Portuguese speaking countries with the help of Macao platform, meanwhile bring more branded product options to residents and tourists. Keen Response on Application from Guangdong Exhibiting Enterprises
“Guangdong & Macao Branded Products Fair 2010” is an economic and trade activity which set trade, cultural exchange, shopping, leisure & entertainment in one. For exhibition, the Fair will include a total of 252 exhibiting booths in Macao Enterprises Pavilion and Guangdong Enterprises Pavilion. Recruitment for 67 booths in Macao Enterprises Pavilion will start at June 10. This Fair attracts great attention from economic and trade departments, as well as enterprises from Guangdong Province. Applications of 139 branded products enterprises from 18 prefecture-level cities were received, contributing to a total of 178 exhibiting booths. Products being exhibited will include special products, foods, commodities and electronic products from different cities, including products from:
- 5 enterprises awarded “Chine Top Brands”, such as Guangdong Silk-Tex Group Co. Ltd, Zhuhai Double Happiness Electric Appliance Co., Ltd
- 13 enterprises awarded “Well-known Brands in China”, such as Yangjiang Shi ba zi, Double Happiness and Lankfair - 41 enterprises awarded “Guangdong Top Brand Products” - 28 enterprises awarded “Well-known Trademark in Guangdong” and a number of leading enterprises To show the spirit of Guangzhou Asian Games, through inviting 2010 Guangzhou Asian Games Organizing Committee, souvenirs franchisee of Guangzhou Asian Games will offer Asian Games souvenirs during the Fair. Subsidies for Macao exhibiting enterprises
Same as last year, in order to encourage Macao enterprises to participate in the Fair, subsidies will be provided to Macao enterprises by Organizer of “Guangdong & Macao Branded Products Fair 2010”, targeting eligible exhibitors with products manufactured in Macao, Macao brand or Overseas products with agent in Macao. 40% of exhibiting fee will be covered by the Organizer, enterprises paying only $2,800 can enjoy this valuable chance. Recruitment in Macao will being tomorrow (June 10), and end at June 24, the Organizer look forward to see keen response from Macao enterprises, so as to expand their business through Macao’s platform. Remark:
Products “manufactured in Macao”
- Products “manufactured in Macao” and exported from Macau, exhibitors have to provide certificate of origin issued by Macao Economic Service
- Products “manufactured in Macao” and sold in Macao, exhibitors have to provide approval of industry issued by Macao Economic Service
Products of “Macao brand”
- Products of “Macao brand”, exhibitors have to provide trademark registration issued by Macao Economic Service or other valid documents.
Products “with agent in Macao”
- Products “with agent in Macao”, Exhibitors have to provide agent authorization of the products or related supporting documents. Other Events during the Fair
Events held at the same time with “Guangdong & Macao Branded Products Fair 2010” include those economic & trade activities themed under promoting industrial cooperation between Guangdong and Macau, such as meetings, Sourcing and Purchasing, product seminars, business matching etc. During the Fair, Department of Foreign Trade and Economic Cooperation of Guangdong Province will organize enterprises from Guangdong Province to meet with Macao enterprises, at the same time, Macao Trade and Investment Promotion Institute (IPIM) will organize relevant chambers of commerce to join the Fair for procurement, and organize sizable retail enterprises in Macao to join the procurement negotiation. To make the Fair more attractive to residents and tourists, the Organizer will arrange a series of art and cultural activities, performance from Hong Kong and Macao artistes, art and cultural group will also bring exciting performance to residents and tourists. In addition, lucky draws will be organized during above activities, coupons will be distributed to participant, which aim at creating a fruitful and wonderful summer carnival to residents and tourists. For further information of “Guangdong & Macao Branded Products Fair 2010”, please call the hotline 853- 8798 9788 or browse the official website www.guangdongmacaofair.com
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Officials of Guangdong Provincial Tourism Administration, Hong Kong Tourism Board and Macau Government Tourist Office attended the “Guangdong-Hong Kong-Macau Tourism Cooperation Meeting” in Macau today (June 9). Secretary for Social Affairs and Culture Cheong U hosted a luncheon to welcome the delegations from Guangdong and Hong Kong. Deputy Director of Guangdong Provincial Tourism Administration Wang Zhi Hong and Executive Director of Hong Kong Tourism Board Anthony Lau led their respective delegations to meet with Director of MGTO João Manuel Costa Antunes and heads of relevant departments to review the promotional activities carried out in 2009, to exchange the latest tourism developments of the three places and to discuss the joint working plan for the current year. During the meeting, the three tourism authorities agreed to continue their efforts and strengthen cooperation in several major aspects. In addition to the working plan for 2010, which included topics such as the Asian Games in Guangzhou, World Tourism Day, tourism products (themed itineraries), joint promotional activities and promotion tools, the discussion also focused on the implementation of the tourism cooperation protocols signed earlier between Guangdong and Hong Kong as well as Guangdong and Macau. The tourism authorities of Guangdong, Hong Kong and Macau have a longstanding and well-established cooperation mechanism and chairmanship rotation system, which are effective instruments for the three places to advance their working plans, to strengthen communication and cooperation, to complement each other and to brand the Pearl River Delta region as a quality international tourism destination. The announcement of “The Outline of the Plan for the Reform and Development of the Pearl River Delta” and “The Hengqin Overall Development Plan” have elevated the regional cooperation to a higher and broader dimension that brings new opportunities to the development of the Pearl River Delta region, from which the tourism sector stands to benefit. Under the new strategic direction, the three tourism authorities are confident that the tourism industry of the Pearl River Delta could achieve greater development.
In recent years, the joint promotional effort of the three places is bearing fruits. Last year, joint pavilions of Guangdong, Hong Kong and Macau were set up in travel fairs and tourism expositions held in Hong Kong, Japan, Guangzhou and Macau to promote multi-destination itineraries. The tourism authorities of the three places have also reached consensus to extend their joint promotions beyond East Asia and Southeast Asia to other potential as well as long-haul markets. This year, joint promotional activities such as roadshows will be held in Taiwan, the United Kingdom and France to further promote the international brand of Pearl River Delta regional tourism. Wang Zhi Hong expressed that through close communication and cooperation of the tourism authorities of Guangdong, Hong Kong and Macau in joint campaigns, brand promotions, resources sharing, and intelligence exchange all these years, the profile and exposure of the international brand of Pearl River Delta regional tourism has been elevated. She hoped that the meeting will bring further consensus among the three places on relevant issues to foster a more effective and pragmatic cooperation for the next phase. Anthony Lau said that with the joint effort and co-operation of the three tourism authorities, significant progress was achieved in the development and promotion of multi-destination itineraries featuring Guangdong, Hong Kong and Macau over the past year. Mr Lau believed that the three tourism authorities would continue their close collaboration to devise more creative promotions and communication platforms, which would help further promote the quality brand image of multi-destination travel in the region and attract more visitors to the three destinations. Antunes expressed that Guangdong, Hong Kong and Macau have a longstanding and solid foundation for tourism cooperation, which dated back to 1993, when a cooperation mechanism was set up to promote the international brand of regional tourism encompassing Guangdong, Hong Kong and Macau. In 2007, the three tourism authorities agreed to set up a chairmanship rotation system to further enhance mutual communication and exchange. MGTO assumed chairmanship of the cooperation mechanism for the current year. He stressed that the Macau SAR government is striving for moderate diversification of the economy and in turn the tourism industry of Macau is moving towards diversification of tourism products and source markets. It is necessary to continue to explore and consolidate potential source markets. Macau is always open and enthusiastic to cooperate with nearby regions to promote regional tourism, in the belief that, through delivering multi-destination itineraries, the goal of complementing resources and building up of an international brand of regional tourism could be achieved.
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O Chefe do Executivo, Chui Sai On, presidiu hoje (dia 8), à reunião do Conselho para o Desenvolvimento Económico para o ano de 2010, na qual foi discutido o ponto da situação sobre o desenvolvimento económico e os problemas a enfrentar neste sector. A reunião obteve consenso quanto à criação de dois grupos de estudo no organigrama do Conselho, um dedicado às políticas económicas e outro às políticas de recursos humanos. O secretário para a Economia e Finanças, Francis Tam, afirmou depois da reunião, que irão ser envidados esforços, o mais breve possível, na criação dos grupos acima referidos para que os membros do Conselho possam escolher qual a área de trabalho a que pretendem pertencer. Este frisou ainda que, o Governo da RAEM dá muita atenção às opiniões dos membros do Conselho, relativamente aos problemas de recursos humanos, servindo de referência para definir políticas sobre a matéria tendo em consideração as opiniões dos diferentes sectores sociais. O mesmo responsável indicou que apesar dos sectores sociais terem tido sempre opiniões diferentes sobre o desenvolvimento da economia local, tanto do sector laboral como patronal, as autoridades procuram constantemente manter um equilíbrio social. Em relação à política de recursos humanos o alvo do governo é claro e inequívoco dar prioridade e garantir o direito de emprego dos trabalhadores locais. Francis Tam indicou entretanto que para além de assegurar os direitos dos trabalhadores locais, o Governo também se preocupa em corresponder ao desenvolvimento económico local e aos respectivos recursos humanos, para assim criar na economia um desenvolvimento sustentável através de aplicação de politicas mais eficazes. O secretário referiu ainda que a criação de grupos de estudo, teve como objectivo fornecer mais dados e orientação na área dos recursos humanos, e disse esperar que, através da comunicação entre os membros do Conselho, possam observar e estudar a situação real em Macau, do ponto de vista do governo, contribuindo assim na definição de políticas mais operacionais e de acordo com a realidade local.
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Objective︰
The objective is to allow all Macao residents to share the joy of “The Central Government gift of a pair of giant pandas to the Macao SAR” through the organization of the “Giant Panda Naming and Voting Contest”. The contest will allow Macao residents to have the opportunity to personally name the pair of giant pandas conferred by the Central Government. By allowing Macao residents to vote on the most suitable name for the pair of giant pandas, it is hoped that the whole city will get involved.
The two stages of this activity:
Naming Stage: Upon receiving the names, the Judging Committee of Giant Panda Naming Contest of Macao will select 5 outstanding names for the female giant panda and 5 for the male giant panda. The Judging Committee will match up the selected names into 5 pairs of outstanding giant panda names.
Voting Stage: Macao residents will vote to select one pair of names from the five pairs matched up by the Judging Committee. This pair of names will then become the names of the giant pandas conferred by the Central Government to the Macao SAR.
Eligibility and requirements︰ 1. All residents of Macao SAR (permanent or non-permanent identity card holders) are eligible to participate. If the winners are under 12 years old, they must be accompanied by their guardians in order to accept the awards.
2. If any of the proposed names are identical to the names of giant pandas which have already been donated or leased out by the Central Government, they will not be considered. (The name list of giant pandas overseas can be referred to the annex of the application form or through the Macao Panda Website www.macaupanda.org.mo.)
3. The proposed name must be meaningful, creative and highlight the appearance or personality traits of the two pandas.
4. Participants must explain the significance of the name as well as any figurative meaning in about 100 words (including punctuation marks).
Admission: 1. Participants may obtain or summit the application forms at any of the following IACM’s external service units: Division of Public Relations and the Press- Avenida de Almeida Ribeiro, No. 163, IACM Building Central District Service Centre -Avenida da Praia Grande, No. 762-804 China Plaza Building, 2/F S. Lourenço Service Centre- Rua de João Lecaros , Complexo Municipal do Mercado de S.Lourenço, 4°andar, Macau Toi San Service Centre- Avenida de Artur Tamagnini Barbosa, No. 127,D. Julieta Nobre da Carvalho Building, BL B,G/F Northern District Public Services Centre- Rua Nova de Areia Preta, No. 52 Islands District Public Services Centre- Rua da Ponte Negra, Bairro Social da Taipa, Nº 75K, Taipa Civic Education Resources Centre- Floor 1, Municipal Market Complex of Iao Hon, Iao Hon Activity Centre Wong Ieng Kuan Library in Dr. Sun Yat-Sen Municipal Park- Dr. Sun Yat-Sen Municipal Park Wong Ieng Kuan Library in Luis de Camões Garden- Luís de Camões Garden Wong Ieng Kuan Library in Areia Preta Urban Park- Areia Preta Urban Park Wong Ieng Kuan Library in Taipa- Rua do Regedor, Hei Loi Tang Plaza Library in Ho Yin Garden- Ho Yin Garden Mong Ha Eco-Centre- Mong Ha Hill hiking trail Flora Eco-Centre- Flora Garden
2. Participants may also directly log into the Macao Panda Website to fill in and submit an electronic form. www.macaupanda.org.mo
3. Application forms can also be mailed to the Division of Public Relations and Press of the IACM, 163 Avenida de Almeida Ribeiro, Macao. (Please write “Participation in the Giant Panda Naming Contest” on the envelope) Other information:
1. The organizer shall not be liable for any loss, delay or transmission errors regarding the entry forms.
2. The result of the naming contest will be based on the final decision of the Judging Committee.
3. Once the pair of names is selected, the Macao SAR government will hold all the rights pertaining to that pair of names. The relevant authority shall have the right to use the selected names in any way without paying any royalties to the person who proposed them.
4. The organizer reserves the right to final interpretation and amendment of the rules.
5. The organizer reserves the right to suspend, amend or modify the terms and conditions of any part of the rules and regulations as well as the lot-drawing procedures without prior notice and liability.
6. Winners who fail to collect their prizes within the specified time limit shall automatically forfeit their award eligibility without notice.
7. All personal information used and collected in this form will be treated in accordance with the "Personal Data Protection Law" and used only for the purposes of this event.
(The Giant Panda Naming Contest will be carried out in two stages. Stage one refers to the collection of names for the pandas. Participating residents are required to fill in the application forms, “Giant Panda Naming Contest”, and submit them to the specified locations. Upon completion of this stage, the organizer will match up the majority of the proposed names by the public, and select five pairs of names for public voting in Stage Two.)
Date of Reception:
Naming Stage: The contest period starts from 8 June, 2010 to 5:45 p.m. of 5 July, 2010. (For entries sent in by mail, the deadline will be based on the postal cut-off time, whereas for direct deliveries, the deadline will be based on the office hours for direct deliveries in the respective area. Entries received after the specified period will not be accepted.)
Prize details:
Naming Stage:
Merit Awards: The judging panel shall choose 5 outstanding names for the female giant panda and 5 for the male giant panda and a maximum of 10 awards will be given to the proposers of each selected name. (If the awarding names are proposed by fewer than ten winners, the awards shall be given in accordance with the corresponding number; if there are more than ten, lots will be drawn to determine the winners.) Prizes shall be MOP500 and a souvenir for each award.
Voting Stage:
Naming Contest Grand Prize:
A total of two prizes will be given respectively for the final selected male and the female names. Each winner will receive MOP8, 000, a souvenir and will be paid to visit Sichuan together with up to two companions to experience the Chengdu Giant Panda Tour. (If there is more than one winner in the naming contest, then a ballot will be drawn to determine the prize winner.)
(Details regarding the public votes for the pandas’ names in the second stage will be announced after completion of the first stage)
Enquiries︰
Macao Panda Website: www.macaupanda.org.mo
Tel︰8988 8433 / 8988 8422
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The Chief Executive, Mr Chui Sai On, said today Macao would act as a service platform for Shantou, Chaozhou and Jieyang by promoting their products to the Portuguese-speaking countries. Mr Chui said that based on the good foundation already in place, co-operation could be stepped up, and one way would be to encourage more scheduled or chartered flights between the cities and Macao. He said scheduled flights would definitely increase the flow of people and goods, as well as the exchange of business and cultural co-operation. The three-day visit to the city with a high level delegation also gave him a better understanding of the further development of the cities, he said. In the coming months, trade conferences, exhibitions and promotional events on special products of the three cities would be held in Macao. He believed Macao and the three cities would enhance their bilateral business, tourism and cultural co-operations, he said. Mr Chui and the delegation were in Chaozhou and Jieyang on June 4 and 5 respectively, where they met with the cities’ leaders. The Secretary of CPC Chaozhou Municipal Committee, Mr Luo Wenzhi made a presentation on the latest development of the city. He said a profound co-operation between Macao and Chaozhou have been achieved in the past and based on this privilege, both sides could speed up co-operation. Mr Chui said he agreed and said that the two places could join hands in cultural and tourism development. The Secretary of CPC Jieyang Municipal Committee, Mr Chen Hongping and Mr Chui have exchanged view on areas to further co-operate when they met. Mr Chui said he saw much room to expand the co-operation on business, tourism and culture with Jieyang city. The Macao delegation also visited the site of the Jieyang airport, which was under construction, jade markets and a school sponsored by Macao residents, before returning to Macao in the evening.
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The Monetary Authority of Macao released today the credit card statistics for the first quarter of 2010. The total number of personal credit cards in circulation was 368,124 at the end of March 2010, up 2.47% from the previous quarter. The numbers of Pataca (MOP) cards, Hong Kong Dollar (HKD) cards and Renminbi (RMB) cards were 294,462, 56,149 and 17,513 respectively. MOP cards, HKD cards and RMB cards witnessed respective increases of 2.56%, 0.15% and 8.99% quarter-to-quarter. Compared with a year earlier, RMB cards surged 99.97% while MOP cards and HKD cards grew 10.30% and 2.07% respectively. The introduction of MOP/RMB dual currency credit cards by local banks in the second half of 2009 largely accounted for the marked increase of RMB cards.
As at the end of March 2010, credit card credit limit granted by banks in Macao amounted to MOP6.66 billion, up 2.52% from end-December 2009. Credit card receivables reached MOP1.03 billion while the rollover amount totalled MOP0.42 billion, accounting for 41.01% of credit card receivables. The delinquency ratio, i.e. the ratio of delinquent amount overdue for more than three months to credit card receivables, was 1.22%.
In the first quarter of 2010, the credit card turnover decreased by 1.61% quarter-to-quarter to MOP1.81 billion. The cash advance turnover amounted to MOP0.12 billion, accounting for 6.37% of total credit card turnover. Credit card repayments, in which payments for interest and fees are included, grew 11.79% from last quarter to MOP1.98 billion.
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The themed seminar series on the exhibition Traveller’s Home: Masterworks by George Chinnery opened to the public last Saturday in the Macao Museum Auditorium. The forthcoming second and third seminars are not to be missed if you failed to catch last week’s first installment! The first seminar, ‘George Chinnery and Macao’, was hosted by respected Macao scholar Dr. Chan Kai Chon, and focused on Chinnery’s background, his family life and his travels from London to India, via Dublin. In 1825, Chinnery travelled from India to Macao by ship and he thereafter resided in Macao until his death in 1852. He is now buried in the Macao Protestant Cemetery. In order to enable the public to gain a deeper understanding of George Chinnery’s life, Dr. Chan made use of a variety of historical data and pictures to analyse and explain the value and significance of his work in the history of Macao. In addition to vividly capturing Macao’s landscape, Chinnery’s works also bear witness to a number of historical figures at the time. More than 50 people, including art enthusiasts, local residents, teachers and students, attended the first seminar. The seminar was well-spirited and enjoyable, and all participants were keen to ask questions about the experiences of this foreign painter who spent much of his life in Macao and the influence that his work had on China and Macao, which Dr. Chan answered one by one. The second seminar, ‘George Chinnery - A European Artist in the East’ (in English, with Cantonese interpretation), will be hosted by English scholar Dr. Patrick Conner at 3:00 pm - 5:00pm on Saturday 5th June 2010. The third seminar, ‘Macao, Guangzhou and Hong Kong in the Era of Chinnery (1825-1852)’ (in Cantonese), will be hosted by Hong Kong scholar Dr. Joseph Ting Sun Pao at 3:00pm - 5:00pm on Saturday 19th June 2010. In order to reserve a seat, interested parties may contact Ms. Wu on 83941210 or Mr. Ho on 83941217 during office hours. Seats are limited and registered on a first-come, first-serve basis. For more information about the exhibition and the seminar series, please visit the Macao Museum website: www.macaumuseum.gov.mo.
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