News

The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP126.4 billion (USD15.83 billion) at the end of November 2008. The reserves rose by 2.1% from the revised value of MOP123.8 billion (USD15.50 billion) for the previous month. When compared with the same period last year, the reserves increased by MOP23.0 billion or 22.2%. Macao SAR’s foreign exchange reserves at end-November 2008 represented 29 times the currency in circulation or about 238.4% of Pataca M2 at end-October 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, rose by 1.39 points month-to-month and 3.37 points year-on-year to 92.96 in November 2008. For enquiry, please contact: Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
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All the galleries of the Macao Museum of the Cultural Affairs Bureau - such as the Kun Iam Ecumenical Centre, Pawnshop Museum, Mount Fortress Corridor, etc. - remain open to the public on New Year’s Day (1st January, Thursday). The Tap Seac Gallery at Tap Seac Square and the Lou Kau Mansion in Travessa da Sé will also remain open, while the Museum of Sacred Art, located behind the Ruins of St. Paul, will resume regular opening hours from New Year’s Day inclusive, following the completion of two months’ maintenance. All citizens and tourists are welcome to visit the Museum during the holiday. In addition, guided tours will be provided as usual for the “Ingenious Woodwork – Macao Religious Figure Carving” Exhibition, recently launched by the Macao Museum to celebrate the first inscription of a local art on the National Intangible Cultural Heritage of China. Tours in Mandarin are conducted at 11:00 a.m. and in Cantonese at 3:00 p.m. All visitors are welcome.
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The Statistics and Census Service conducted the 2007/2008 Household Budget Survey (07/08 HBS), a sampling survey carried out once every five years, from September 2007 to September 2008. The statistical unit included all households residing in 5,720 living quarters selected by sampling. In accordance to the preliminary results, Macao had a total of 167,187 households in 2007/2008, with 133,548 households (79.9%) residing in private housing, 27,871 (16.7%) in economic housing and 5,768 (3.5%) in social housing. The average number of household per living quarter was 1.06 and the average household size decreased from 3.18 persons in 02/03 HBS to 3.14 in 07/08 HBS. Monthly consumption expenditure of all households in Macao totalled MOP 3.08 billion, up by 107.6% in nominal terms and 74.9% in real terms compared with the results of 02/03 HBS. Average monthly consumption expenditure per household amounted to MOP 18,394, an increase of 66.8% in nominal terms and 40.5% in real terms compared with MOP11,026 registered in 02/03 HBS. Total monthly income of all households amounted to MOP 4.10 billion, up by 99.5% in nominal terms and 68.0% in real terms. The average monthly income per household was MOP 24,528, which rose by 60.3% in nominal terms and 35.0% in real terms. The proportion of households with an annual average income of MOP 240,000 and more increased by 27.6 percentage points over that of 02/03 HBS to account for 50.7% of total number of households in Macao, while the respective share of those with an annual average income of less than MOP 48,000 was 4.6%, a decrease of 7.6 percentage points from 02/03 HBS, reflecting that household income was moving towards higher equality of income distribution. Furthermore, Gini coefficient that measures the inequality of income distribution of households decreased from 0.45 in 02/03 HBS to 0.37 in 07/08 HBS. The 80/20 ratio that reflects the distribution of household income went down from 11.4 in 02/03 HBS to 8.3 in 07/08 HBS. Global results of the 07/08 HBS will be available in April 2009.
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According to the results of the Employment Survey released by the Statistics and Census Service, the global financial crisis began to affect the employment condition of Macao. The unemployment rate and the underemployment rate for September-November 2008 was 3.3% and 1.6% respectively, up by 0.2 and 0.1 percentage point over the previous period (August-October 2008). Total labour force was 338,000 in September-November 2008, with an employed population of 327,000, down by 1,000 and 1,800 respectively compared with previous period, which was the first decrease registered in 2008. The unemployed population rose by 800 from the previous period to 11,000 in September-November 2008, the number of unemployed of the Construction and Gaming sectors rising more notably. Labour force participation rate stood at 70.5%, down by 0.1 percentage point over the previous period, but up by 0.2 percentage point year-on-year; meanwhile, the unemployment rate and the underemployment rate both went up by 0.4%.
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The Statistics and Census Service (DSEC) released summary information on the changes in the industrial structure of Macao for 2007, as follows. The major economic activities of Macao saw outstanding development in 2007, especially in the Gaming, Hotel, Wholesale & Retail, Real Estate and the Construction sectors. As the tertiary sector grew more vigorously than the secondary sector, the relative importance of the tertiary sector in Gross Domestic Product (GDP) rose from 85.1% in 2006 to 86.0%, while that of the secondary sector fell from 18.7% to 17.7%. In 2007, the total gross value added of all economic activities of Macao increased significantly by 32.5% over 2006, with that of the Gaming sector rising by 37.2%. The overall intermediate consumption and compensation of employees grew by 27.4% and 31.7% respectively over 2006, with that of the Hotel sector soaring remarkably by 112.9% and 87.3% respectively. The ratio of total gross valued added to total gross output of all economic activities edged up by 0.2 percentage point to 50.0% in 2007, and the ratio of total compensation of employees to total gross value added rose by 1.0 percentage point to 37.9%. The relative importance of the secondary sector in GDP decreased by 1.0 percentage point from 2006. The proportion of the Construction sector grew by 0.6 percentage point to 13.8% owing to construction of the major gaming and tourism facilities at full speed and the booming real estate market; however, the relative importance of the Manufacturing sector and Electricity, Gas & Water Supply declined by 1.1 and 0.6 percentage point respectively to 2.8% and 1.1%. The relative importance of the tertiary sector in GDP grew by 0.9 percentage point, with notable increases in that of the Gaming, Real Estate and Wholesale & Retail sectors. The proportion of the Gaming sector rose by 2.3 percentage points from 33.3% in 2006 to 35.6%; Real Estate rose by 0.5 percentage point from 6.7% to 7.2%; Wholesale & Retail rose by 0.4 percentage point from 6.0% to 6.4%; meanwhile, the proportion of the Hotel sector and Renting & Business Activities rose mildly. The relative importance of the remaining industries, such as Restaurants; Transport, Storage & Communications; Banking; Insurance; Public Administration; Education; and Health & Social Work declined as the rate of increase of the respective gross value added was lower than the overall level of growth (32.5%) for all economic activities, on account of the increment in intermediate consumption was higher than that of the gross output.
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Information from the Statistics and Census Service indicated that visitor arrivals totalled 2,530,620 in November 2008, a year-on-year increase of 3.0%. Visitors from Mainland China (1,460,155), Hong Kong (695,491) and Southeast Asia (139,210) rose by 4.2%, 5.9% and 7.5% respectively. Same-day visitors took up 52.4% of the total arrivals, at 1,326,151. The majority of the visitors came from Mainland China, Hong Kong and Southeast Asia, which accounted for 57.7%; 27.5% and 5.5% of the total respectively. Among the Mainland visitors, 494,465 travelled to Macao under the Individual Visit Scheme, down by 22.8% year-on year. In the first eleven months of 2008, visitor arrivals rose by 13.4% year-on-year to 27,639,661. Visitors from Mainland China (16,110,647) and Southeast Asia grew by 20.1% and 38.5% respectively, and those from Hong Kong went up slightly by 0.6%. Furthermore, same-day visitors shared 53.1% of the total arrivals, at 14,668,638. Analysed by mode of transport, visitor arrivals by sea increased by 8.7% over the first eleven months of 2007 to 8,778,494, with 7,051,321 arriving at the Outer Harbour, down by 7.7% year-on-year. Meanwhile, 1,360,374 visitors arrived at the Provisional Ferry Terminal in Taipa. Visitor arrivals by land rose by 15.6% to 17,303,695. Visitors arriving through the Border Gate increased by 12.5% to 16,395,539 and the majority were from Mainland China (80.5%) and Hong Kong (14.0%). In addition, visitor arrivals by air totalled 1,557,472, up by 17.3% over the first eleven months of 2007. Visitors arriving at the Macao International Airport rose by 15.6% to 1,525,174, with the majority coming from Taiwan, China (35.0%), Southeast Asia (30.7%) and Mainland China (22.0%).
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The Public Security Police Force today refused the entry of 24 Hong Kong residents at Outer Harbour, in accordance with the regulations of Internal Security Law. The Government issued a statement giving full backing to the police action, stating that “in accordance with Article 23 of the Basic Law of the Macao SAR, it is the Government’s constitutional obligation to begin the legislation of the national security law and it is the internal affairs of the Macao SAR. “Macao welcomes visitors from all parts of the world. During their visits in Macao, they are obliged to respect and observe Macao’s laws and regulations and should not conduct deeds that are not in line with their role as a visitor. “The Government has drafted the National Security bill after thorough study and a long period of preparation. It has been enriched by opinion and suggestions of the public after extensive consultation and has been revised and then submitted to the Legislative Assembly by the Government recently.” The Public Security Police Force also issued a press release soon after the action taken about noon, stating that it is the police force’s responsibility to reject the entry of ineligible non-residents in order to maintain security and public order.
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The Chief Executive, Mr Edmund Ho Hau Wah, said today the Government is convinced that the Macao Special Administrative Region (MSAR) will overcome the financial crisis and other obstacles, and proceed towards its glorious 10th anniversary with positive achievements. Mr Ho made this remark in an address at a reception to mark the 9th anniversary of the MSAR. “Throughout these nine years, Macao citizens and the MSAR government have joined forces to overcome difficulties and challenges through continuous self-adjustment, gradual reform, leveraging advantages against shortcomings, and persistence and tolerance. “We have stood the test of time with continued improvement and intensification in the interaction, mutual trust, tacit understanding and collaboration between citizens and the government. “We have to maintain the mutual support between citizens and the government and among all circles in society, and to persist in an optimistic, progressive and pragmatic attitude with innovative ideas. “We are not only confident about overcoming the impact of the financial crisis, but also believe the government and the local community will learn from the challenge and emerge from it stronger. “Our resilience to adversity and hardship also helps us gain experience and inspiration from a macro point of view, creating better conditions for the MSAR’s future socio-economic development and all-round progress in “One country, two systems”, “Macao people governing Macao” and “A high degree of autonomy”. “The full support from the Central People’s Government during these nine years has been a vital reassurance for the stable development of the MSAR. The central government has always shown concern for us and has provided us with solid support at every important moment. “Supported by our country’s comprehensive national strength, we have overcome various major challenges in the past nine years. Equipped with significant confidence and courage, we definitely will conquer the financial crisis and other obstacles along the road to our bright future. “This is also a meaningful year for the Macao SAR during its nine-year development under “One country, two systems”. An unprecedented national cohesion and a sense of national pride have been established among Chinese in the wake of the relief efforts for the Sichuan earthquake, the Beijing Olympic Games and the Shenzhou-7 manned space mission. “Through these events, Chinese people in Macao shared with their mainland counterparts their hopes and patriotism, fully demonstrating the profound and robust ethical spirit of “One country, two systems”. “With this spirit, we are convinced that the Macao SAR will proceed towards its glorious 10th Anniversary with achievements and hopes for a successful start to its second decade on the back of our hard work over the past nine years, so long as we all observe the Basic Law, persistently implement “One country, two systems”, “Macao people governing Macao”, and “A high degree of autonomy”, and maintain a proper vision of striving for improvement, sharing common goals and fulfilling our commitments.” He extended gratitude to the Central People’s Government, its organisations based in Macao, all civil servants and the entire community for their support. About 1,000 guests attended the reception, including the Director of the Central Government Liaison Office in Macao, Mr Bai Zhijian; the Commissioner of the Macao SAR Commission of the Ministry of Foreign Affairs of the PRC, Mr Lu Shumin; the Commander of the Chinese PLA Garrison in the Macao SAR, Major General Wang Yuren; the President of the Legislative Assembly, Ms Susana Chou; the President of the Court of Final Appeal, Sam Hou Fai, as well as principal officials and community leaders. Earlier this morning, more than 300 guests and officials attended the flag-hoisting ceremony at Lotus Square presided over by the Chief Executive. There will be a firework display in the evening as a finale to events of the much-celebrated day, together with other activities to be held by a number of civic organisations to celebrate the anniversary.
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The Central Government will launch nine new supportive measures to sustain Macao in tackling the economic challenges that emerged in the global financial crisis. The Chief Executive, Mr Edmund Ho Hau Wah, announced this after he met the President, Mr Hu Jintao and the Premier Mr Wen Jiabao, individually in Zhongnanhai, Beijing, on the second day of his annual duty visit. Mr Hu said in the meeting that the Central Government was highly concerned with the impacts caused by the global financial crisis to Macao, and would fully support Macao in facing the challenges by moderately diversifying economic developments. He said he has noticed the SAR Government had implemented a string of measures earlier to cope with the difficulties, and the outcome was positive. He also praised Mr Ho’s dedication in governing Macao over the past nine years, and the principle of “one country two systems” has been fully implemented in Macao. Mr Ho expressed his thankfulness to the Central Government on behalf of the Macao people for the continuous supports, especially the nine new measures to help Macao. In the meeting with Mr Wen Jiabao, Mr Wen said the Central Government has faith that Macao that would have a stable economic development despite the global financial crisis. He said the Central Government would offer full support so that Macao would maintain a prosperous economic development, and that a concrete study had been carried out, nine new supportive measures have been conducted. Basically the supporting policies and measures to be implemented in Hong Kong could be applied to Macao, he said. Mr Wen said he hoped Macao could strengthen communication with the Central Government, and that he believed the Macao Government could lead all sectors in Macao to overcome difficult times. Mr Ho said he highly appreciated for the Central Government’s never-ending supports, especially under the severe impacts came from the global economic crisis. He also reported to the Premier that the SAR Government has already adopted appropriate policies to cope with difficulties, though some challenges were still unpredictable. Those who attended the meeting included the Vice President Xi Jinping, the Vice-Premier, Mr Wang Qishan, the State Councilors, Ms Liu Yandong, the State Councilors and the Secretary-General, Mr Ma Kai, the Director of the Hong Kong and Macao Affairs Office, State Council, Mr Liao Hui and the Director of the Liaison Office of the Central People’s Government in the MSAR, Mr Bai Zhijian.
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The Central Government will introduce measures to support Macao in six areas, namely finance, infrastructure, economic integration with Guangdong, SME, services industry and safety supply of daily necessities. The Premier, Mr Wen Jiabao, disclosed this to the Chief Executive, Mr Edmund Ho Hau Wah, when they met in Beijing this morning. The nine measures in these six areas will include: - expanding the scope of Renminbi businesses in Macao; - launching the construction work of the Hong Kong-Zhuhai-Macao Bridge by the end of 2009; - study on infrastructure and transport network connecting Macao; - implementing a development plan for the Pearl River Delta Region (2008-2020), which would facilitate the economic integration of Macao into the region; - encouraging Macao’s participation in the development of Hengqin Island; - adopting direct and effective measures to support Macao funded SMEs; - facilitating Macao businesses’ participation in China’s services industry, and - safeguarding the supply and safety of food and other necessities to Macao. Concluding his annual duty visit, Mr Ho told reporters that these measures would better equip Macao in confronting the impacts of the global financial turmoil and facilitate its sustainable development in the future. He quoted the state leaders as acknowledging the work of the SAR Government and urging the community to strive for the development of Macao. Mr Ho also quoted Premier Mr Wen Jiabao as saying that in principle supporting measures for Hong Kong are applicable to Macao too. Speaking on the Facilitated Individual Travel Scheme, Mr Ho said that the Central Government would study expanding the number of cities in the scheme. Regarding the tentative fixed-destination travel programme for Hong Kong, Mr Ho said he hoped that Mainland authorities could study similar programmes to boost Macao’s MICE industries and increase the number of tourists to Macao’s cultural heritage. He also disclosed that the Central Government and Guangdong authorities were studying a reclamation project along Macao’s coastline and he said he expected the plan would be implemented by the next Government.
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