News

Macao today reported its first fatality from Influenza A (H1N1), a 40-year-old female patient who passed away after admitted to hospital two weeks ago. The patient, suffering from breathing difficulties and double pneumonia, had been in a critical condition since she was transferred to Hospital Conde S. Januário from Kiang Wu Hospital on 18 August. Her health condition showed no improvement and deteriorated in the morning. She passed away at 12:05 pm. Today 44 new cases were reported, taking the total number of Influenza A (H1N1) cases to 1,045 so far. Five patients had recovered and were discharged from hospital today, with six still in hospital, most of them in a stable and fair condition. Macao’s pandemic alert remained at Level VI, Blue, which indicated that the spread of the virus was moderate.
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Macau Government Tourist Office (MGTO) organized a Lunch Briefing for the Hong Kong M.I.C.E. (Meetings, Incentive, Convention, Exhibition) Industry today at The Mira Hotel Hong Kong. About 200 guests from Hong Kong including event and destination management companies, corporate travel agents, corporate and association representatives participated in the luncheon and get an updated picture of Macau’s potential for M.I.C.E. events as well as MGTO’s revised “Strategic MICE Market Stimulation Program”. The luncheon started with a presentation on Macau’s M.I.C.E. development and why Macau is attractive as a M.I.C.E. destination, then followed by a briefing on the “Strategic MICE Market Stimulation Program” launched in May and revised in August this year. Corporate travel agents, event planners and corporate representatives from Hong Kong showed high interest in this program which, after the recent revision, step up support to event organizers by expanding support scope, increasing amount of support and relaxing qualification. Since last year, MGTO has organized three seminars in Hong Kong for the M.I.C.E. industry, which has been a successful networking platform for event planners and Macau trade partners. The lunch briefing today focused on introducing the “Strategic MICE Market Stimulation Program” to the Hong Kong business travel market and is anticipated to attract more M.I.C.E. groups from Hong Kong and the region to create more business for the Macau industry.
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The office of the Chief Executive-designate is to begin operation tomorrow to prepare for the Policy Address for the Fiscal Year 2010. The operation of the Office of the Third-term Chief Executive is supported by the Macao SAR Government as the incumbent Chief Executive, Mr Edmund Ho Hau Wah, had signed an executive order requesting support from all Government bureaux. Staff of the Office will hold meetings with Government bureaux to prepare the policy outline, which will incorporate the manifesto of the Third-term Chief Executive, Mr Fernando Chui Sai On, and public opinion gathered from all walks of life during the campaign. The Office will also study into the structure of the Government for the future needs of Macao.
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Information from the Statistics and Census Service indicated that the number of MICE (Meeting, Incentives, Conventions & Exhibitions) events held in various venues in Macao totalled 347, down by 9% from the first quarter of 2009, with 328 meetings/conferences (95% of total) and 19 exhibitions; total number of participants/attendees decreased by 63% quarter-to-quarter to 57,423; average duration of the MICE events fell from 2.2 days in the previous quarter to 1.8 days. The average duration of exhibitions was 3.4 days, attracting 25,376 attendees (44% of total); average duration of meetings/conferences was 1.8 days, with 32,047 participants. As regards subject of MICE events, the majority focused on Commerce, Trade & Management (105), Tourism & Culture (60) and Education & Training (52). Analyzed by type, most of the events were Corporate Meetings (131), Association Meetings (94) and Government Meetings (47). There were 204 MICE events held in hotels, of which 194 were meetings/conferences and 10 exhibitions, drawing a total of 28,546 participants/attendees. Participants to 194 meetings /conferences totalled 16,900 (59% of total) and attendees of the 10 exhibitions were 11,646. Meanwhile, 143 MICE events were held in convention & exhibition centres, and other conference venues, bringing in 28,877 participants/attendees; the majority were Association Meetings (71), but the 9 exhibitions attracted 13,730 attendees (48% of total). In the first half year of 2009, a total of 730 MICE events were held in Macao, with an average duration of 2.0 days, attracting 211,287 participants/attendees.
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In order to provide better quality, efficient and convenient service to the investors, the "One-Stop Service"of the Investor Service Department (DAI) of Macao Trade and Investment Promotion Institute at 4th Floor, 918, World Trade Centre Building, Av. da Amizade, will move to 19-20th Floor, Edif. China Civil Plaza, 263 Alameda Dr. Carlos d’Assumpção, Macao, on 1 September 2009. DAI provides personal One-Stop Service for investors, including information enquiries, project assessment, company registration assistance by our notary, guidance on administrative procedures for licence application, business matching, project follow-ups and other types of support for project implementation. DAI will continue to provide quality services at the new office. The new contact information is as follows:
Phone: +853 2872 8328 Fax: +853 2872 7506
Email: onestopservice@ipim.gov.mo
Website: www.ipim.gov.mo
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Information from the Statistics and Census Service (DSEC) indicated that the value of total exports of goods amounted to MOP631 million in July 2009, down by 60.8% year-on-year, with the value of domestic exports falling sharply by 74.8% to MOP256 million and that of re-exports dropping by 36.6% to MOP375 million. The value of total imports of goods amounted to MOP3.20 billion, down by 23.1% year-on-year. A trade deficit of MOP2.57 billion was recorded for July 2009. From January to July 2009, total value of merchandise exports fell substantially by 55.3% year-on-year to MOP4.53 billion, of which the value of domestic exports and re-exports declined by 69.5% and 31.4% respectively; meanwhile, total value of merchandise imports slid by 21.8% to MOP20.01 billion. The trade deficit for the first seven months of 2009 was similar to that of last year, at MOP15.48 billion; the exports/imports ratio went down by 17.0 percentage points year-on-year to 22.6%. Analyzed by destination of Macao’s exports, in the first seven months of 2009, the value of merchandise exports to the USA, the EU and Mainland China decreased by 79.0%, 59.6% and 44.8% respectively year-on-year. The value of Textile & garment exports declined by 72.0% year-on-year to account for 37.6% of the total exports of goods; meanwhile, the value of Non-textile exports dropped by 30.0%. Regarding the country of origin of imported goods, value of merchandise imports from Mainland China dropped by 41.9% year-on-year, but that from the EU rose by 4.2%. The value of imports by Broad Economic Category registered year-on-year decrease, of which Raw materials & semi-manufactures and Fuels & lubricants fell by 43.0% and 29.5% respectively; meanwhile, the value of imports of Consumer goods recorded a mild decrease of 8.4%, with that of Food & beverages rising by 15.6%.
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The Statistics and Census Service (DSEC) released the summary of the GDP for the second quarter of 2009. The rates of change of the text below refer to the year-on-year change in real terms, unless otherwise specified. The lacklustre economy sustained in the second quarter of 2009 as many principal economic indicators kept sliding down, namely gross gaming revenue (excluding gratuities) declined by 12.2% year-on-year in nominal terms; total visitor spending (excluding gaming expenses) went down by 20.6%; gross fixed capital formation shrank by 27.4% and merchandise exports plunged substantially by 58.3%. Integrating the respective information, with the base of comparison of the second quarter of 2008 being the highest in record, GDP for the second quarter of 2009 contracted by 13.7% in real terms, slowing further from the decline of the first quarter (revised upward from -12.9% to -11.9%), the worst decrease since the compilation of the quarterly GDP. For the first half year of 2009, the economy of Macao contracted by 12.8% in real terms. As regards major GDP components, private consumption expenditure rose by 0.7% in the second quarter, lower than the 5.8% increase in the previous quarter. Household final consumption expenditure in the domestic market decreased by 0.8%, while that abroad expanded by 5.3%, with the expenditure in Mainland China amounting to MOP 763 million. Government final consumption expenditure went up by 6.2%, lower than the 15.8% growth in the first quarter, with compensation of employees, and net purchases of goods and services rising by 3.0% and 15.8% respectively. As a gauge of investment, gross fixed capital formation shrank by 27.4%, receding slightly from the 31.2% decrease in the first quarter. Total private investment contracted by 30.6% upon suspension or slowdown of some major constructions, with construction and equipment investment shrinking by 32.7% and 23.2% respectively. Total government investment expanded by 163.5%, in which construction investment surged by 286.9%, while equipment investment went down by 3.1%. Integrating data of both sectors, overall construction investment contracted by 28.7%, moderating from the 34.2% decrease in the first quarter; meanwhile, decline of equipment investment also narrowed marginally from the 23.1% drop of the previous quarter to 22.6%. In terms of visible trade, the decline of the total value of merchandise exports exacerbated, falling further from the 49.2% decrease in the first quarter to 58.3% in nominal terms or from -49.9% to -58.3% in real terms. Analyzed by destination, merchandise exports to the United States, the European Union, Mainland China and Hong Kong decreased by 84.1%, 57.1%, 48.2% and 9.4% respectively in nominal terms. Total merchandise imports also saw notable decline, dipping from the 22.4% drop in the first quarter to 24.4% in nominal terms; however, the decline in real terms, at 22.4%, remained unchanged as that of the first quarter. As regards invisible trade (exports of services), exports of gaming services dropped by 12.7%; total visitor spending (excluding gaming expenses) went down by 20.6% upon the 13.1% fall of the number of visitor arrivals and the 5.3% decrease of their per-capita spending. Integrating the principal data on exports of services, overall exports of services decreased by 14.6%, same as that of the previous quarter; meanwhile, imports of services shrank slightly further from the 21.5% decline in the first quarter to 22.9%.
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The distribution of 2009 Wealth Partaking Scheme has been successfully carried out. Residents can proceed to their banks to deposit the cheques by 31 December 2012. Since the implementation of the Scheme in the middle of May, 82,063 beneficiaries have received the cash premium by means of bank transfer while 465,585 crossed cheques have been sent by post, accounting for a total amount of MOP$3,129,836,400. Among the crossed cheques, 419,232 were cashed, representing 90% of the total number of cheques drawn. Out of 46,353 unpresented cheques, 3,667, or 7.9% failed to be delivered due to improper address or other reasons and returned to the Identification Services Bureau. This has resulted in 42,686 cheques to be further handled. To provide assistance and answer enquiries related to the Scheme, the Macao Special Administrative Region has set up a Support Centre for Wealth Partaking Disbursement. On 18 May, the Support Centre came into service and was later embedded with the Healthcare Subsidy Scheme Support Centre on 1 July. At present, 45,437 enquiries have been resolved, of which 38,101 associated with the Wealth Partaking Scheme. Enquiries are made via channels such as personal visit, telephones, voicemails and emails, among which personal visit takes the largest proportion of 53.3%, while telephone enquiry is the second most common channel, which contributes for 43.2%. According to the operational review of the Support Centre for Wealth Partaking Disbursement in August, 2,500 people were received in May and the reception volume has declined from the peak period of more than 15,000 person-time during the period of June and July to merely 4,500 person-time in the month of August. In line with cost effectiveness and the 3 years cheque validity, the Support Centre will move to the Service Centre of Civil and Municipal Affairs Bureau located in Avenida da Grande Praia no. 804, China Plaza, 2/F to continuously offer assistance and enquiries relating to 2008 and 2009 Wealth Partaking Scheme, effective from 31 August this year. The opening hours of this Service Centre are from 9am to 6pm straight, Monday to Friday, except public holidays. The service hotline 2822 5000 and the facsimile 2822 3000 will remain in operation. Enquiries can also be made to the Service Centre of Civil and Municipal Affairs Bureau at 8795 2675 and 8795 2676. Moreover, the official website of Wealth Partaking Scheme http://www.planocp.gov.mo is retained to provide relevant information. The Support Centre for Wealth Partaking Disbursement located at shop O and P, China Plaza, G/F, continues to function until 30 August whereas the Healthcare Subsidy Scheme Support Centre remains in service to provide enquiry service related with healthcare voucher.
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The 5th Pan Pearl River Delta Regional Cooperation and Development Financial Forum was held on 8 August 2009 at Nanning, Guangxi. This event was organized by institute of financial services of 9 provinces (regions), hosted by Guangxi Institute of Financial Services and Office for Financial Services of Guangxi Zhuang Autonomous Region, assisted by the China “Financial News” Publisher. The main theme was “Industrial Transfer and Financial Services”. The Monetary Authority of Macao (AMCM) participated in the Forum and presented a speech entitled “Industrial Transfer and Financial Services Viewed from the Perspective of Macao”. Presidents of the institute of financial services from other provinces (regions) all presented their views from their perspectives on the relationship and importance between industrial transfer and financial services. All attendees envisaged that the locomotive effect of industrial transfer from the maritime east to western district had invoked industrial transfer and escalation in the western region. It accelerated economic development in the west, enhanced the quality of life of inhabitants there. There was real benefit reaped in the west in the course of industrial transfer. In addition, the attendees recognized that further industrial transfer should be orderly and of high quality and quantity. It should facilitate better allocation of market resources and could promote regional cooperation and integration. It would help organic growth of financial industry and at the same time accelerate the process of merge of regional economies and promote new economic development in the region. In the session, the representative of AMCM pointed out that, in industrial transfer or rearrangement of assets allocation, the effective combination of factors of production could propel economic growth. By the same token, economic growth could stimulate innovation in financial products and services, operation and management of financial institutions in order to satisfy the needs of enterprises, from which financial institutions could consolidate their foundation, strengthen their competitiveness and risk resistance conducive to the security and stability of the financial system as a whole.
Therefore, industrial transfer required strong support of financial services. The historical background of Macao, relationship between Macao and the Mainland, the interaction between Macao and Portuguese speaking countries could play an important role in the industrial transfer in the Pan Pearl River Delta Region or even the Mainland. For instance, the introduction of production factors from Portuguese speaking countries, accessory industries and business partners, or the development of Mainland industries in Portuguese speaking countries might involve the function of Macao. The process could trigger enlightenment and impetus for the Macao banking system in financial innovation. At the same time, the importance and function of Macao as a platform and the indigenous features of its banking system would further be realized through the implementation of “The Outline of the Plan for the Reform and Development of the Pearl River Delta”.
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Information from the Statistics and Census Service (DSEC) indicated that the consumption of Electricity in the second quarter of 2009 totalled 883 million kWh, up notably by 32.7% quarter-to-quarter and 2.2% year-on-year. The available supply of Electricity also went up by 31.1% over the previous quarter, attributable to a 98.7% surge of imports of Electricity. In the second quarter of 2009, imports of Electricity reached 464 million kWh, bringing its relative importance to the available supply to soar from 33.5% in the first quarter to 50.7%; meanwhile, local generation of Electricity totalled 468 million kWh, down by 2.4% quarter-to-quarter. In the second quarter of 2009, imports of Gasoline rose by 13.5% over the preceding quarter to 16.9 million litres; the average price of Gasoline imports rose by 13.0% and the respective consumption increased by 4.7% to 17.0 million litres. The imports of Liquefied Petroleum Gas (LPG) totalled 8,579 tonnes, down by 27.0% quarter-to-quarter; the average price of LPG imports fell by 4.8% and the respective consumption decreased by 17.3% to 9,355 tonnes. Average selling price of fuels rose along with rebound of oil prices in the international market, with that of Fuel Oil, Common Kerosene and Unleaded Gasoline increasing by 15.2%, 12.5% and 11.1% respectively from the first quarter. At the end of the second quarter, stock of LPG was 2,591 tonnes, down by 22.5%
quarter-to-quarter to account for 53.2% of the total storage capacity.
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