News

Under the patronage of the National Cultural Heritage Administration and the Secretariat for Social Affairs and Culture of the Macao SAR Government, organised by the Cultural Affairs Bureau of the Macao SAR Government, co-organised by the Department of Culture and Tourism of Guangdong Province and the Development Bureau of the Hong Kong SAR Government, and supported by MGM, the “Greater Bay Area Cultural Heritage Forum” was held at the Macao Cultural Centre Small Auditorium on 31 October and 1 November. This Forum aims to further propel cooperation in the field of cultural heritage in the Guangdong-Hong Kong-Macao Greater Bay Area and leverage Macao’s role as a “base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist”. Various authoritative experts and scholars from home and abroad shared research results and delivered speeches on various topics, and the Forum was concluded successfully.
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Macao's annual international sporting event - “Celebration of the 75^th Anniversary of the Founding of the People’s Republic of China and the 25^th Anniversary of the Establishment of the Macao Special Administrative Region – 71^st Macau Grand Prix” will be held from November 14^th to 17^th.
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The Centre for Macau Studies and the Department of Economics of the University of Macau (UM) have released the revised macroeconomic forecast for Macao 2024. Given the apparent slowdown in China’s economic growth, the research team has revised the assumption of the number of visitor arrivals from mainland China in the second half of 2024 to 85% of the same period in 2019. Accordingly, the baseline forecast for Macao’s GDP growth is 12.1% (year-on-year real growth rate), reaching 89.7% of the 2019 level, equivalent to MOP399.3 billion (in chained (2021) dollar). The baseline forecasts for other major economic variables have been revised as follows: the growth of services exports is projected at 15.3%; the growth of private consumption expenditure at 5.8%; the inflation rate at 0.9%; the overall unemployment rate at 1.9%; the unemployment rate among Macao residents at 2.5%; and the Macao SAR Government’s current revenue at MOP112.2 billion.
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Under the patronage of the Secretariat for Social Affairs and Culture of the Macao SAR Government, organised by the Cultural Affairs Bureau (IC, from the Portuguese acronym), and co-organised by the Galaxy Entertainment Group, the “China and the Portuguese-speaking Countries Film Festival”, integrated in the 6^th “Encounter in Macao – Arts and Cultural Festival between China and the Portuguese-speaking Countries”, will be held from 22 November to 13 December. Themed “Creating an Interesting Contrast”, this year’s Film Festival is held for an extended period of three weeks for the first time, presenting nearly 30 film productions from China and the Portuguese-speaking countries and regions, as well as outreach activities such as outdoor screenings, post-screening seminars and workshops.
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A project to upgrade the power system in the Seac Pai Van Park will be carried out from 9 to 11 November. During this period, except for the Macao Giant Panda Pavilion (closed on 11 November, Monday, which is a regular closing day) and the outdoor animal areas in the park that will remain open to the public, other indoor venues and the public toilet numbered JC1 will be temporarily closed. At the same time, the opening hours of the Seac Pai Van Park are adjusted as follows. IAM appeals to the public for their understanding for the inconvenience caused.
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According to statistics released today (1 November) by the Monetary Authority of Macao, broad money supply continued to grow in September. Meanwhile, resident deposits rose from a month ago whereas loans to residents posted a decline.
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Information from the Statistics and Census Service (DSEC) indicated that the average daily wage of construction workers increased by 2.3% quarter-on-quarter to MOP767 in the third quarter of 2024. After discounting the effect of inflation, the real wage index of construction workers (92.9) went up by 2.2% quarter-on-quarter. Meanwhile, the price index of construction materials for residential buildings edged down by 0.2% quarter-on-quarter to 123.9.
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The Chief Executive, Mr Ho Iat Seng, will attend at 3pm on 19 November a plenary session of the Legislative Assembly, to give a summary on policy-implementation work done in 2024, and to introduce a budget proposal for 2025.
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