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Information from the Statistics and Census Service indicated that the value of retail sales for the second quarter of 2008 was estimated at MOP4.60 billion. Retail sales of watches, clocks & jewellery took the largest share of 19% of the total, which was followed by sales of goods in department stores (12%), motor vehicles (10%), goods in supermarkets (9%), adults' clothing (9%), automotive fuels (5%), fuels for household use (4%), cosmetics and sanitary articles (3%), goods in pharmacies (3%) and communication equipment (3%). The value of retail sales in this quarter rose by 40% from MOP3.28 billion in the second quarter of 2007, with marked increases in the sales of watches, clocks & jewellery; goods in department stores; adults’ clothing; goods in supermarket; and motor vehicles. In comparison with the previous quarter, the value of retail sales in this quarter increased slightly by 1%. In the first half year of 2008, value of total retail sales amounted to MOP9.15 billion, up remarkably by 43% year-on-year. In the second quarter of 2008, about 44% of the retailers reported decrease in the sales volume from the first quarter, up by 9 percentage points over the corresponding figure in the previous quarter; about 56% reported that the sales volume remained stable or increased. In terms of retail prices, about 61% reported that the prices were stable, 21% stated that the prices increased whereas 18% reported the prices decreased. Compared with the second quarter of 2007, about 64% said that the stock level was normal in this quarter, while 20% indicated that the stock level was low. Regarding the business prospect for the third quarter of 2008, about 60% expected the sales volume to increase or remain stable compared with the second quarter, whereas 40% expected it to decrease. Meanwhile, about 80% expected the retail prices to remain stable or increase, while 20% expected it to decrease.
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The Statistics and Census Service released results of the Employment Survey for the second quarter of 2008. Principal indicators such as the labour force participation rate, unemployment rate, etc. was published in July. Total labour force was 330,000 in the second quarter of 2008, comprising 321,000 employed and 9,100 unemployed. Compared with the first quarter, total labour force registered an increase of 3,900, with the employed rising by 4,400 and the unemployed declining by 500. Analysed by industry, the majority of the employed population were engaging in Recreational, Cultural, Gaming & Other Services (24.7%) and Hotels, Restaurants & Similar Activities (12.7%). In terms of occupation, most of the employed population were Clerks (including casino dealers, floorpersons, betting service operators, etc.) and Service & Sales Workers, accounting for 24.6% and 22.5% respectively. The overall median monthly employment earnings was MOP8,000 in the second quarter of 2008, with the median of those working in Recreational, Cultural, Gaming & Other Services amounting to MOP12,000; meanwhile, median monthly employment earnings of the employed residents stood at MOP 9,000. In the second quarter of 2008, the underemployed population totalled 5,200, with 65.0% engaging in the Construction sector and 10.5% in the Manufacturing sector. Within the unemployed, 6.2% were searching for their first job, while 93.8% had worked previously and were searching for a new job. With regard to the educational attainment, 45.5% of the unemployed had primary or lower education; 27.7% had junior secondary education and 19.4% had senior secondary education. For the unemployed that were searching for a new job, analyzed by industry previously engaged, 26.6% had worked in Construction and 17.4% in Hotels, Restaurants & Similar Activities. In terms of the previous occupation, 30.1% were Unskilled workers and 23.7% were Service & sales workers.
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Macao will inject 1.17 billion RMB for 17 reconstruction projects in Sichuan to mark its support to the quake-hit province. These would include homes for farmers, schools, health centres and other facilities, the Secretary for Social Affairs and Culture, Mr Chui Sai On, told reporters after a meeting with Sichuan’s officials this morning. Mr Chui, who chairs Macao’s supporting committee to Sichuan reconstruction works, was in the province for a three-day fact-finding visit with members of the committee. Considering the living condition of farmers, projects involving homes for farmers will start first among the others, Mr Chui said. The safety of these projects and appropriate usage of capital will be monitored and guaranteed. These 17 reconstruction projects, expected to be completed by the end of 2010, are in the initial phase of Macao’s support to the province. Macao has pledged 5 billion patacas for the province’s reconstruction. To help reinvigorate Sichuan’s tourism industry, Macao would invite Sichuan’s officials to hold promotional events in Macao and organise Macao’s reporters and businesspeople in tourism sector to visit the province, Mr Chui said. Mr Chui and the committee returned to Macao in the afternoon.
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Information from the Statistics and Census Service indicated that per-capita spending of visitors for the second quarter of 2008 increased by 9% year-on-year to MOP 1,613. Per-capita spending of Mainland visitors took the lead, at MOP 3,357 and that of Hong Kong visitors was MOP 992. Compared with the second quarter of 2007, per-capita spending of tourists went up by 14% to MOP 2,367, however, per-capita spending of same-day visitors was MOP 464, a drop of 16%. Per-capita non-shopping spending (excluding gaming expenses) of visitors grew by 11% year-on-year to MOP 975, of which the expenses on accommodation and food & beverage accounted for 44% and 37% respectively. However, per-capita shopping spending rose by 5% to MOP 638, with the expenses on local food products and clothing sharing 30% and 17% respectively. Per-diem spending of visitors was MOP 1,416, an increase of 2% over the second quarter of 2007. Mainland visitors had the highest per-diem spending, at MOP 2,148. The average length of stay of visitors held stable at 1.1 days as the second quarter of 2007. The average of tourists increased by 0.1 day to 1.7 days and that of same-day visitors stayed unchanged at 0.2 day.
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Information from the Statistics and Census Service (DSEC) indicated that the construction of 2 new buildings with a gross floor area of 24,159 m² has been started in the second quarter of 2008. Upon completion, these buildings will provide 14 units, 139 parking spaces for cars and 87 parking spaces for motorcycles. Meanwhile, a total of 10 buildings with a gross floor area of 31,210 m² were completed, providing altogether 144 units, as well as 75 and 40 parking spaces for cars and motorcycles respectively. There were 3,064 cases of real estate sale and purchase contracts made in the second quarter of 2008, involving 4,022 units that amounted to MOP4.11 billion, down by 7.8% and 2.9% respectively over the preceding quarter. Moreover, the total value of mortgage loans amounted to MOP5.45 billion, down notably by 77.2% compared with the preceding quarter. Sale and purchase of building units with stamp duty paid was 7,339 in the second quarter of 2008, and the total value amounted to MOP10.99 billion. Among these transactions, 3,147 units (42.9%), with a total value of MOP6.95 billion, were purchased and sold under Intermediate Transfer of Title. The majority (4,075 units valued at MOP9.2 billion) of these transactions were residential units that accounted for 55.5% of the total number of building units. Compared with the first quarter, transaction of residential units and value decreased by 10.7% and 16.2% respectively. Among these residential units, 3,155 units were situated in the Macao Peninsula, 902 in Taipa Island and 18 in Coloane Island. Analyzed by transaction price, number of residential units were sold for over MOP4,000,000 totalled 661 (16.2% of the total); 1,002 units (24.6%) for over MOP2,000,000 to MOP4,000,000; 864 units (21.2%) for over MOP1,000,000 to MOP2,000,000; and 1,548 units (38.0%) for MOP1,000,000 or less. In the second quarter of 2008, the overall average transaction price of residential units with stamp duty paid amounted to MOP24,741 per square meter of usable area, up slightly by 0.6% over the previous quarter. The average transaction price of those in the Macao Peninsula rose by 22.7% to MOP25,198 per square meter, with notable increase in the districts of NATAP and Patane & São Paulo; however, the average price of those in Taipa Island decreased by 28.8% to MOP23,553 per square meter. With regard to the transaction of residential units under Intermediate Transfer of Title, the overall average transaction price amounted to MOP37,268 per square meter, down by 6.6% over the previous quarter. The average price of the residential units in the Macao Peninsula increased by 15.2% to MOP40,808 per square meter, whereas the average price of those in Taipa Island decreased by 37.1% to MOP28,434 per square meter. In the second quarter of 2008, the average transaction price of industrial and office units amounted to MOP5,919 and 24,130 per square meter, up by 3.6% and 11.4% over the preceding quarter.
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The Government had given all gaming operators until next Monday (18 August) to submit plans on how they would put more local staff into more senior positions. This includes time lines on when they would implement fully such plans, the Secretary for Economy and Finance, Mr Tam Pak Yuen, disclosed today when he met with representatives of the Macau Gaming Enterprises Staff’s Association. He said the Government expected locals to be in some middle level management positions after an appropriate period. According to statistics up to the first half of this year, there were 2,900 foreign workers in technical positions, with 2,000 of them in managerial positions. Mr Tam said that after receiving the plans, the Government would meet with the gaming staff representatives again to hear their opinions.
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Macao’s supporting committee to the Sichuan reconstruction works is in the province today, for a three-day fact-finding visit. The Committee, which comprised a number of department heads from the SAR Government, met with its counterpart in Sichuan immediately after they arrived in the capital city Chengdu. The Secretary for Social Affairs and Culture, Mr Chui Sai On, who also chairs the committee, said at the meeting that the committee had commenced a number of preparatory works after receiving the proposal from Sichuan, and the two sides would discuss the construction plan in today’s meeting. He said that in the next three to five years, Macao would make its best effort in helping the reconstruction in Sichuan, and hoped to make some contribution to our “brothers” there. He also conveyed Macao people’s concerns and blessings to the people of Sichuan and said that some individuals and organisations in Macao would also take part in supporting Sichuan’s reconstruction. Mr Chui said the Macao SAR Government Tourism Office would meet with tourism officials of Sichuan during this visit, to draw up a plan for co-operation in tourism industry in the next two years. He said the resumption of scheduled flights between Macao and Chengdu would help promote the recovery of Sichuan’s tourism business. During the meeting, the Director of Sichuan provincial Development and Reform Commission, Mr Liu Jie, briefed the committee on the general plans for the 37 reconstruction projects proposed for Macao’s support, among which 17 are in Lizhou District of Guangyuen City, one of the most seriously affected region during the earthquake in May. The Mayor, Mr Ma Hua explained in details plans for these 17 projects. Before departing for Chengdu this morning, Mr Chui told reporters that the Sichuan authorities had proposed Macao support for the 17 reconstruction project in Guangyuen, so the committee would visit the city tomorrow to learn more about the planned projects.
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The Chief Executive, Mr Edmund Ho Hau Wah, said the SAR Government would achieve its target of building 19,000 public housing units by 2012 to help those in need of subsidised accommodation. Speaking at the plenary session of the Legislative Assembly, he reiterated that the Government would not cut back on its housing policy and would carry out its plans on schedule. The housing policy will be carried out in two phases. In the first phase, some 2,600 rental units will be built in 2009, with another 3,600 Home Ownership Scheme flats would be completed between six months and not more than a year later than scheduled. Mr Ho said the related departments were speeding up the progress of building public housing and that the Government had confidence to build 19,000 or even more units by the completion of the second phase, by 2012. Mr Ho also disclosed that a new scheme to subsidise newly married couples in renting their homes would be launched at the end of this year.
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Macao will inject five billion patacas for reconstruction works in the earthquake-hit Sichuan province, and Macao Foundation will reserve 500 million patacas for works in the province as well, the Chief Executive Mr Edmund Ho Hau Wah announced today. Mr Ho disclosed this when he attended a plenary session of the Legislative Assembly this afternoon to answer legislators’ questions on various issues. He said the Government would allocate five billion patacas in Sichuan’s reconstruction works over the next five years. In addition, the Macao Foundation would also reserve 500 million patacas for works in the province. Mr Ho said he believed that the donation will not bring any pressure on Macao’s public finance. In the first phase of Macao’s supporting effort, the Government would earmark 300 million patacas for Guangyuan, one of the most seriously affected cities in the province. Next, the Government would discuss with Macao’s business sectors and communities to co-ordinate their effort in helping Sichuan. The Secretary for Social Affairs and Culture, Mr Chui Sai On, who chairs Macao’s committee for reconstruction works in Sichuan, will visit the province on Saturday and discuss with the authorities there on how to support the province’s reconstruction efforts. They will also discuss how to monitor the usage of Macao’s fund and what Macao could do to help re-invigorate Sichuan’s tourism industry.
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The Government will not cut back on ongoing projects aimed at improving the livelihood of the people despite uncertainties in the global economy or even a slowdown in economic growth. This assurance was given today by the Chief Executive, Mr Edmund Ho Hau Wah, when he attended a plenary session of the Legislative Assembly to answer legislators’ questions on various issues. Macao had introduced a series of measures to relieve inflation, build public housing, and provide free 15 years of education to all students among other projects to improve the people’s livelihood. Considering the uncertainty in the global economy, it is estimated that Macao’s economic environment will be more challenging next year, with the inflation rate staying at a relatively high level, Mr Ho said. However, Macao would continue to undertake these projects, since the budgets had passed close scrutiny. Considering the future revenue of the Government and the surpluses amassed in the past few years, Macao had the financial muscle to carry out these projects. But Mr Ho reminded that we might see dips in Macao’s gaming revenue next year. To relieve inflation, the Government would continue to introduce measures to help the financially-challenged and families in difficulties, he said.
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