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The total area of the new land reclamation project will be slightly larger then the original plan submitted to the Central Government in 2006, the Secretary for Transport and Public Works, Mr Lao Si Iosaid today. Responding to media reports on the project, Mr Lao said the proposal has already submitted to the Central Government for final approval. He said the Central Government has commented on environment protection issues and amendments were accordingly made. But the overall project would still be based on the original plan, he said.
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The Chief Executive, Mr Edmund Ho Hau Wah, today attended the opening ceremony of the Twelfth Investment and Trade Forum for Cooperation between East and West China being held in Xian. After touring the exhibition hall, Mr Ho visited the Macao Pavilion, a booth to introduce the latest investment conditions in Macao, set up by the Macao Trade and Investment Promotion Institute. The annual investment and trade forum began in 1997 and was the first platform for China’s regional economic coordination through the joint efforts of the ministries and 27 sponsor-provinces. It is playing an important role in promoting the progress of East, Middle and West China, and regional harmony. Mr Ho visited the newly developed areas in Xian in the afternoon before returning to Macao in the evening.
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The Chief Executive, Mr Edmund Ho Hau Wah, continued on his visit to Shaanxi today, attending a memorial ceremony for Huangdi Xuanyuan. Mr Ho, who arrived in the north-central province yesterday, attended a memorial ceremony at Huangdi Xuanyuan Mausoleum in the morning. In the afternoon, he visited Shaanxi History Museum and Wild Goose Pagoda. He is in Xian to attend tomorrow’s opening ceremony of the Twelfth Investment and Trade Forum for Cooperation between East and West China.
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The Chief Executive, Mr Edmund Ho Hau Wah, said today that Macao and Shaanxi might develop an all-around co-operation relationship. He said this when he met with the Secretary of the CPC Shaanxi Provincial Committee, Mr Zhao Leji in Xian, the capital city of Shaanxi province. During the meeting with Shaanxi leaders, Mr Ho said Macao has a small-scale economy while Shaanxi had rich resources and enormous industrial development, and that Macao and Shaanxi could become partners to complement one another. Mr Ho said Macao enterprises have continuously participated in the Investment and Trade Forum for Cooperation between East and West China for years, and they have started to do business and invest in Shaanxi. On the other hand, Shaanxi has constantly sent delegations to participate in the annual Macao International Trade and Investment Fair. Mr Ho invited Mr Zhao to come to the Fair, to be held in October. Also present at the meeting were the Secretary for the Economy and Finance, Mr Francis Tam Pak Yuen, and the Chief of Office of Chief Executive, Mr Ho Veng On. Mr Ho and the official Macao delegation were greeted by the Vice Governor of Shaanxi Province, Mr Wu Dengchang, upon arrival at the Xi'an Xianyang International Airport in the afternoon., The Chief Executive is to attend a memorial ceremony for Huangdi Xuanyuan at the Huangdi Xuanyuan Mausoleum tomorrow morning. In the afternoon, he is schedule to visit Shaanxi History Museum and Wild Goose Pagoda.
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The Government might introduce further measures in about one month’s time to help the people tackle rising inflation, following a 814-million Patacas package announced three weeks ago. This was disclosed today by the Chief Executive, Mr Edmund Ho Hau Wah, before his departure for Xian to attend the opening ceremony of the Twelfth Investment and Trade Forum for Cooperation between East and West China, which takes place on Saturday. He pointed out that the prices of some imported goods have gone up recently, contributing to the increased inflation rate. Taking into account the market economy, the Government would introduce appropriate measures to help curb the effects of inflation, he said. The Secretary for Economy and Finance, Mr Tam Pak Yuen, who was also in Xian, said that the SAR Government was highly concerned with the latest fluctuation in prices of oil and foodstuff in Macao. He said the Government would keep close contact with the related departments in the Mainland, and pledged that China would guarantee the supply of daily necessities. He said there is an adequate supply of rice in the market. Meanwhile, the Government has strengthened contacts with local representatives from suppliers in order to get first hand information on changes in the market, to convey such information to the people. Mr Tam revealed that the Government would open up new sources for the the supply of general merchandise, to enable Macao to have more stable prices and supplies.
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The Chief Executive, Mr Edmund Ho Hau Wah is scheduled to leave for Xian tomorrow to attend the Twelfth Investment and Trade Forum for Cooperation between East and West China. The annual event, to be held in the capital city of Shaanxi Province from April 5 to 9, is aimed at strengthening the coordinative cooperation between East, Middle and West China, and to promote the economic harmonious development of the regions. The key of the Twelfth West Forum is Investment Negotiation, while the main contents are Investment Promotion and Commodity Display and Sale. A promotional booth will be set up in the conference hall to introduce the latest investment conditions in Macao. The Secretary for the Economy and Finance, Mr Francis Tam Pak Yuen, and the Chief of the Office of the Chief Executive, Mr Ho Veng On, will attend the opening ceremony of the forum. The Secretary for Administration and Justice, Ms Florinda Chan, will be Acting Chief Executive during Mr Ho’s absence.
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Information from the Statistics and Census Service indicated that Macao registered a record high of 26,992,995 visitor arrivals in 2007, up by 23% over 2006; visitors from Mainland China and Hong Kong accounted for 55% and 30% of the total respectively. Mainland visitors travelled to Macao under the Individual Visit Scheme totalled 7,165,203, up by 24%. Visitor arrivals in package tours rose notably by 45% to 4,233,714. In 2007, the number of Macao residents travelled in package tours dropped by 22% over 2006 to 212,107 and those travelled under individual arrangements using services provided by travel agencies increased by 4% to 386,927. The opening of 3 new hotels in 2007 increased the availability of guest rooms by 24% to 16,148. While the number of hotel guests jumped by 23% year-on-year to 5,739,734, the average hotel occupancy rate rose by 5.0 percentage points to 77.2%. The average length of stay of hotel guests was 1.36 nights, an increase of 0.15 night compared with 2006. Per-capita spending of visitors was MOP 1,637 in 2007, up by 2% over 2006, of which Mainland visitors had the highest per-capita spending of MOP 3,080. Per-capita non-shopping spending (excluding gaming expenses) of visitors amounted to MOP 945, up by 10% over 2006, with that of the Mainland visitors leading at MOP 1,152. Expenses on accommodation and food & beverage took up 42% and 38% respectively of the per-capita non-shopping spending. Per-capita shopping spending of visitors posted a 7% decrease over 2006 to MOP 692, with that of Mainland visitors leading at MOP 1,928. Spending on local food products (29% of the total shopping spending), clothing (16%) and jewellery/watches (16%) took the largest shares. Per-diem spending of visitors went down by 2% over 2006 to MOP 1,456; visitors from Mainland China had the highest per-diem spending of MOP 2,393. The average length of stay (1.1 days) of visitors was the same as 2006; the respective average for tourists and same-day visitors was 1.6 days and 0.2 day.
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The Chief Executive, Mr Edmund Ho Hau Wah, today urged the public to comprehensively and accurately understand the Basic Law. Speaking at a seminar to commemorate the 15th anniversary of the promulgation of the Basic Law of Macao SAR, Mr Ho said the Basic Law was crucial for Macao SAR’s sustained development. He highlighted the necessity to pay attention to and understand the original intention of the legislation in order to ensure that the SAR proceeded on the right path. Furthermore, Mr Ho stressed that the remarks made by President Hu Jintao on Macao earlier this month was instrumental to the development of Macao. Mr Ho said that the SAR Government would work with the public to consolidate its achievements, proactively resolve new problems, and push ahead with the development and long-term prosperity of Macao. On the three electoral laws that are under public consultation, Mr Ho said that the Government would heed public opinion. Moreover, he said that the Government would gradually begin the legislation process, ensure the elections next year to be held smoothly, without malpractices, and also the gradual advancement of Macao’s democratic and constitutional development.
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The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP111.8 billion (USD14.0 billion) at the end of February 2008. The reserves increased by 2.6% from the revised figure of MOP108.9 billion (USD13.6 billion) for the previous month. When compared with the same period last year, the reserves increased by MOP32.9 billion or 41.7%. Macao SAR’s foreign exchange reserves at end-February 2008 represented 25 times the currency in circulation or about 208% of Pataca M2 at end-January 2008. 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, fell by 0.37 points month-to-month or 4.31 points year-on-year, from 89.11 in January 2008 to 88.74 in February 2008. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel：83952532; Fax：28353042)
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Information from the Statistics and Census Service indicated that the total value of exports of goods amounted to MOP905 million in February 2008, down by 27.6% year-on-year, of which domestic exports dropped by 40.4% to MOP524 million, while re-exports increased by 2.7% to MOP381 million. Total value of imports of goods amounted to MOP2.81 billion, up by 16.4% year-on-year. A trade deficit of MOP1.91 billion was recorded for February 2008. During the period of January-February 2008, the value of total exports fell by 10.0% year-on-year to MOP2.66 billion, of which domestic exports and re-exports declined by 11.0% and 7.9% respectively. Meanwhile, the value of imports grew by 14.7% to MOP6.51 billion, bringing about a trade deficit of MOP3.85 billion. The exports/imports ratio decreased from 52.1% in the first two months of 2007 to 40.9% in the same period of 2008. As regards exports of goods, the exports of Textile & garment, accounting for 62.3% of the total value of exports in the first two months of 2008, declined by 13.9% over the same period of 2007; moreover, exports of Non-textile fell by 2.6%, of which Machines & apparatus, parts & accessories thereof and Footwear dropped by 47.4% and 34.3% respectively. The USA and the EU were the major destinations of Macao’s exports, together making up 58.5% of the total value of exports in the first two months of 2008. Compared with the same period of 2007, the value of exports to the USA and the EU decreased by 7.2% and 26.8% respectively. The main suppliers of imported goods to Macao concentrated in the Asian region. Imports from Mainland China and Hong Kong, comprising 50.2% of the total value of imports in the first two months of 2008, rose by 8.5% and 12.5% respectively year-on-year. In terms of broad economic categories, imports of Consumer goods, Fuels & lubricants and Capital goods in the first two months of 2008 expanded by 31.8%, 21.7% and 14.1% respectively year-on-year, but imports of Raw materials & semi-manufactures decreased by 12.3%.
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