News

To take on the then global financial crisis, to maintain the stability of the financial system, the MSAR Government announced in October 2008 full protection for all deposits placed by customers with banks operating in Macau (offshore banks excluded) until 31 December 2010. In scrutinizing all operational and regulatory targets, we have witnessed that the financial system of Macao now has never been better; adequate capital, ample liquidity, excellent asset quality have rendered the system, as usual, secure and stable. Nevertheless, in view of the enhancement of the security of the financial system brought about by deposit protection, the MSAR Government has decided, after taking into consideration the most up-to-date deposit protection arrangement made available by neighbouring regions and the practical situation of Macao, to continue deposit protection with effect from 1 January 2011. The maximum amount under protection is however adjusted to MOP500,000 (five hundred thousand Patacas), namely, the maximum amount of protection available to each depositor in any individual bank shall be MOP500,000. Other related provisions shall remain unchanged. All deposits denominated in Pataca or other currencies in name of individuals or organizations shall be protected. However, structured deposits, pledged deposits, bearer commercial papers and other financial products, such as bonds, stocks, investment funds are not included. The aforementioned deposit protection arrangement will cover 95% of depositors, aligned with the standard suggested by relevant international organizations.
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The Statistics and Census Service (DSEC) publishes the first release of the chain volume measures of Gross Domestic Product (GDP) for the third quarter of 2010. In addition, data users can download the original series of GDP prior to the major revision from the DSEC website. In the third quarter of 2010, the economy of Macao expanded by 27.1% in real terms that was spurred by favourable performance of the tourism and gaming sector. Analyzed by major components, exports of gaming services soared by 45.4% when total visitor spending (excluding gaming expenses) increased by 24.6%; though investment continued to shrink, yet the decrease narrowed considerably; however, decline in merchandise exports plunged further. In the third quarter, implicit deflator of GDP that measures the change in overall prices rose by 3.3% year-on-year. As the unemployment rate held stable at low level and total employment increased in the third quarter, private consumption expenditure increased by 7.5%, of which final consumption expenditure in the domestic market rose by 4.8%; at the same time, final consumption expenditure abroad surged by 24.7%, with that in Mainland China amounting to MOP 1.195 billion. Government final consumption expenditure increased by 9.2%, of which compensation of employees and net purchases of goods and services rose by 9.7% and 8.5% respectively. In view of the recommencement of several major construction projects in the private sector, gross fixed capital formation, the gauge of investment, shrank by 11.6%, moderating from the decrease in the second quarter. Private investment contracted by 18.7%, attributable to the 26.3% decrease in construction investment, while equipment investment rose by 9.8%. Government investment increased by 36.9%, in which construction and equipment investment grew by 41.0% and 1.7% respectively. Merchandise trade continued to fall in the third quarter, of which the decline in merchandise exports widened further from the second quarter to decrease by 13.2%. Merchandise imports rose by 9.9%. As regards trade in services, rising visitor arrivals and visitor spending boosted total exports of services to expand by 41.6% in the third quarter, with exports of gaming services soaring by 45.4% and total visitor spending (excluding gaming expenses) rising by 24.6%. Moreover, imports of services increased by 33.6%.
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Consumers’ need for food and groceries increases as Winter Solstice and Christmas approach, Consumer Council surveyed supermarkets on 19th December for its latest ‘Supermarket Price Survey Report’. In comparison with data recorded earlier this month, average price of over 100 surveyed samples have dropped, though prices of certain rice and cooking oil brands continue to rise. In the current report, 105 out of the 200 surveyed samples recorded a drop in average price from less that 1 per cent to 5 per cent; these samples include canned food, cereal products, dairy products and beverages. Milk powder, which was found to have significant price increase last time, now records a slight decrease in average price of up to 10 per cent, though average price of ‘Enfamil Infant Formula with Iron – 1 (900g)’ still records a price increase of over 10 per cent. Further, no change in price has been observed in 48 samples during the last two weeks. For rice, prices of Thai rice brands tend to remain stable though price increases are observed in 4 specific brands; other rice brands record price decreases from 1 to 2 per cent. Average price of 6 cooking oil samples have risen while 8 other samples have dropped by almost 6 per cent. The Council will continue to keep an eye on the current price trend and provide information to consumers for reference. The latest ‘Supermarket Price Survey Report’ is now accessible on the Council’s website (www.consumer.gov.mo) It is also available free of charge at the two offices of the Consumer Council, bookstores and libraries. Consumers may also access the resources online at the Council’s official website (http://www.consumer.gov.mo) or through WAP channels on their mobile phones. For enquiry, please call 8988 9315
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Information from the Statistics and Census Service indicated that the average Composite CPI for the first eleven months of 2010 increased by 2.71% year-on-year. For the 12 months ended November 2010, the average Composite CPI rose by 2.54% from the preceding period. The Composite CPI (105.55) for November 2010 increased by 3.93% year-on-year, attributable to the price increases in Food & Non-Alcoholic Beverages; Miscellaneous Goods & Services; and Transport. Analyzed by section of goods and services, Miscellaneous Goods & Services (+6.71%); Clothing & Footwear (+6.02%); Health (+5.79%); Transport (+5.72%); Food & Non-Alcoholic Beverages (+5.00%); Recreation & Calture (+3.71%) recorded notable increase on account of dearer prices of gold jewellery, men’s and children’s clothing, women’s footwear, gasoline, fresh fish as well as higher charges for out-patient medical services, meals bought away from home and outbound package tours. Meanwhile, reduced charges for mobile phone services caused the price index of Communication to fall by 3.60% year-on-year. The CPI-A (104.91) and CPI-B (105.72) for November 2010 increased by 3.65% and 4.06% year-on-year respectively. The Composite CPI for November 2010 increased by 0.45% month-to-month, with the price indices of Clothing & Footwear; Transport; and Housing & Fuels rising by 3.37%, 0.99% and 0.94% respectively on account of rising prices of Autumn and Winter clothing, gasoline and LPG. However, price indices of Food & Non-Alcoholic Beverages; and Recreation & Culture fell by 0.37% and 0.28% respectively due to lower prices of vegetables and fresh seafood, as well as reduced charges for outbound package tours. The 2008/2009-based Composite CPI reflects the impact of price changes on the general population. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP6,000 to MOP18,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP19,000 to MOP34,999.
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Due to adverse weather conditions in Europe leading to numerous flight delays and cancellations at airports in London, the Tourism Crisis Management Office (GGCT) has maintained close contacts with the Chinese Embassy in the UK, the Office of the Commissioner for Foreign Affairs in the Macau SAR and the Macau Government Tourist Office's UK Representative to follow up on the situation in London. GGCT will continue to monitor closely the condition and progress of the resumption of airport and flight services in London. GGCT urges affected Macau residents or those with family members stranded in London to contact the following numbers for assistance in case of emergency: －Hotline: (853)28333000；
－MGTO's Representative in the UK: (4420)83348328 or
－the Embassy of the PRC in the UK: (44)2072998431 / (44)7551436721 Tourism Crisis Management Office
20 December 2010
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The Chief Executive is scheduled to leave for Beijing this evening for his annual duty visit. Speaking to the press after a reception to celebrate the 11th anniversary of the establishment of the Macao SAR, Mr Chui said he would report to state leaders on the recent development in Macao and his policy blueprints for next year. He said he would also visit the General Administration of Quality Supervision, Inspection and Quarantine and the Ministry of Commerce to gain their support in increasing the imports of daily necessities from the Mainland and guaranteeing the supply of these products. The Government’s goal is to provide daily necessities to the people at affordable prices, he said. He also extended his gratitude for the motherland’s support in supplying food and other daily necessities to Macao. Mr Chui told the press that the Guangdong-Macao Co-operation Framework Agreement had been submitted to the Central Government and that he hoped that it would be signed in the first quarter of next year. In response to demonstrations by some residents this afternoon, Mr Chui said the Government respected people expressing their opinions in a lawful manner and that the Government would gather their opinions for analysis.
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According to the nomination of the Decoration Awards Committee, the Macao SAR Government confers Decorations, Medals and Certificates of Merit to 38 individuals and entities in recognition of their outstanding achievements, contributions and distinguished services rendered to the Macao SAR. Decorations of Honour, including the Decoration of Honour - Grand Lotus, the Decoration of Honour - Golden Lotus and the Decoration of Honour - Silver Lotus, are intended to award to individuals or entities that have made outstanding contributions to the image and reputation of the Macao SAR. The recipients are: Decoration of Honour - Grand Lotus Mr Ho Hau Wah Decoration of Honour - Golden Lotus Mr António Ferreira Decoration of Honour - Silver Lotus Mr Io Hong Meng Seven types of Medals of Merit are awarded for: 1. Professions; 2. Industry and commerce; 3. Tourism; 4. Education; 5. Culture; 6. Philanthropy; and 7. Sport. Each of these categories of decorations is awarded to individuals or entities that have make major or excellent contributions in their respective fields The recipients are: Medal of Merit – Professions Mr Vong Hin Fai Mr Rui Teixeira Freitas Mr Lai Ieng Kit Medal of Merit - Industry and Commerce Mr Wong Pan Seng Mr Lou Cheok Weng Mr José Tang Kuan Meng Bank of China, Macau Branch Medal of Merit - Tourism Mr João Manuel Costa Antunes Mr Kou Pui Kei Medal of Merit - Education Ms Ho Sio Kam Sister Cheung Yung Sau Ms Man Kuan Ms Teresa Kwan Kit Mui Medal of Merit – Culture Mr Chan Wai Fai Ms Lio Chi Heng Medal of Merit – Philanthropy Fundo de Beneficência dos Leitores do Jornal Ou Mun Nurses Association of Macau Medal of Merit - Sport Mr Lam Fai Hong Mr Ma Iao Hang Mr Mok Kuok Heng Medals for Distinguished Services are awarded to public entities, organisations or their staff for outstanding performance of their duties or community service. The recipients are: Medal for Distinguished Service - Medal for Dedication Mr Lei Kin Fong Ms Chan Vicente Man Chung Medal for Distinguished Service - Medal for Community Service Mr Charles Chen Chien Ying Ms Sam Iok Ha Mr Chan Kok Chun Ms Lao Mui Kuai Certificates of Merit including the Honorific Title - Prestige and the Honorific Title – Merit, commend Macao SAR residents or other people who have made major contribution to the reputation, development or social progress of the Macao SAR. The recipients are: Honorific Title - Prestige Mr Sun Shabo Mr Xu Aoao Honorific Title - Merit Mr U Seng Pan Mr Lei Kuong Cheong Mr Chao Man Hou Ms Choi Sut Ian Mr Leong Ka Weng Ms Wong Weng Man Macao Team for the American Regions Mathematics League The decorations, medals and certificates of merit awards ceremony will be held in early 2011.
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The Chief Executive, Mr Chui Sai On, is scheduled to visit Beijing on his duty visit between 20 to 23 December. During the visit, Mr Chui will report to state leaders on the recent development in Macao and his policy blueprints.
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Macao is to organise a wide range of activities and events on Monday to mark the 11th anniversary of the establishment of the Macao Special Administrative Region. Highlights will include a flag-raising ceremony at Lotus Square at 8 am and a reception hosted by the Government at Macau Tower at 9:30 am. To bring fun and entertainment to the public, Macao Sport Development Board is to stage a concert at Macao Stadium at 2 pm, staring pop singer Sammi Cheng. In addition, Macao Post will issue commemorative covers and offer hand-back services to the public from 9 am to 5:30 pm. In the evening, the Macau Government Tourist Office will present a firework display off Macau Tower at 9 pm. On Sunday, the Cultural Institute’s Macau Chinese Orchestra will stage a concert at Macao Cultural Centre at 8 pm to celebrate the anniversary.
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Heavenly Harmonies – Taoist Ritual Music in Macao, exhibition organized by Macao Museum under the Cultural Affairs Bureau, raised its curtain at Macao Museum yesterday (December 16th) at 6 pm, completing the ribbon-cutting ceremony with Zhang Xiaoguang, Deputy Director-General of Department of Culture and Education of the Liaison Office of the Central People's Government in the Macao Special Administrative Region, Jin Qian, Director-General of Department of General Affairs of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macao Special Administrative Region, Ng Peng Chi, President of the Macao Taoist Association, Ung Vai Meng, President of the Cultural Affairs Bureau and Chan Ieng Hin, Director of the Macao Museum. During the ceremony, Macao Taoist Orchestra Association has especially presented a live demonstration performance on the Taoist ritual music, in order to provide a better understanding for the guests and the public on the music. The music played at the rites, namely “Taoist Fasts and Offerings Music” or “Taoist Ritual Music”, is part of the Taoist ceremony and a major component of the Chinese traditional music as well, featuring its strong local colour. The Macao Taoist Ritual Music is an integration of the music from the Zhengyi and Quanzhen School; meanwhile, Macao is the one which preserves the most Taoist songs compared to other Taoist temples in the region, amounting to 500. Therefore, the Taoist Ritual Music has become an element of Macao’s local intangible cultural heritage. In 2009, the Museum has already initiated the nomination of three items, namely the “Macao Taoist Ritual Music” (in the category of Traditional Music), the “Cantonese Naamyam (Singing and Narrative Songs)” (in the category of Quyi), and the “Festival of the Drunken Dragon” (in the category of Folk Customs) as the third batch of the National Intangible Cultural Heritage List, which has been approved by the vetting committee of experts, has passed the public comment period and is now waiting for the official declaration of the Ministry of Culture of the People’s Republic of China. During the exhibition, exhibits related to Taoism are showcased, including music scores, books and journals in the field of Taoist ritual music study, instruments and classic books, which enables visitors to understand more of Taoism and its very way of expressing religion and promoting principles and doctrines. This exhibition aims at showing to the public the representative achievement of Macao’s local traditional music, spreading the message of the protection of the local intangible cultural heritage and making people realize the significance of the protection. The current outstanding achievements on salvaging, conserving, systemizing and studying this endangered traditional music are also displayed. Exhibits are mainly provided by Macao Taoist Association. The exhibition is held from December 17th, 2010 to March 20th, 2011. To tie in with the exhibition, the organizer has especially scheduled a themed seminar entitled The Value of Taoist Ritual Music to be held in the Macao Museum Auditorium on Saturday (December 18th) from 3 pm to 5 pm. Wang Zhongren, a former associate professor of Wuhan Conservatory of Music, has been invited to speak at the seminar. Interested parties may call 8394 1204 for reservation. In addition, the organizer has particularly arranged a concert performed by Macao Taoist Orchestra Association at the Main Hall of Macao Museum, on January 2nd, 2011, at 3:30 pm. Admission will be free for all visitors. For further information, please refer to Macao Museum’s website www.macaumuseum.gov.mo.
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