Macao’s consumer price inflation rate amounted to 0.81 per cent last year, one of the lowest in recent years.
The financial reserves of the Macao Special Administrative Region (MSAR) stood at MOP 620.1 billion (US$77.7 billion) at the end of November last year.
The Macao government to launch new integrated payment machine “Simple Pay” in the first quarter of the year.
Macao is set to host a tech fair next year to match the famed International Consumer Electronics Show (CES) in Las Vegas, the US online newspaper TechCrunch reported this week.
The Legislative Assembly passed the government’s third 2020 budget amendment bill.
A knowledgeable source indicated that the value of the capital could be increased to more than MOP 2 billion.
The growth of the financial sector in Mainland China will create opportunities for the banking sector in Macau as the city develops into a financial platform.
Macao’s overall residential property price index for August – October decreased by 0.5% over the previous period (July – September 2020) to 267.6.
Christmas and the Chinese New Year (CNY) are the peak holiday seasons in Macao, therefore the city can expect more visitors from the mainland during that time, Secretary for Economy and Finance Lei Wai Nong told reporters on Wednesday.
Macao’s gross gaming revenue (GGR) fell by 70.9% year-on-year to MOP 6.75 billion (US$843 million) in November.
Macao’s 120 hotels and guesthouses recorded 57,000 staycation guests in October, a year-on-year increase of 13.6%.
Secretary for Economy and Finance Lei Wai Nong has announced that the government has decided to give residents their annual “wealth-sharing” handout in cash next year – as in previous years.
In the government’s latest estimate, Macao’s gross domestic product (GDP) is expected to fall around 56% this year, adding that while the estimate “will be constantly adjusted” the government predicted this year’s economy would contract over 50%.
Secretary for Economy and Finance Lei Wai Nong said during his introductory speech about his portfolio’s policy guidelines for next year on Friday that he expected the government’s Covid-19 prevention and control measures to be “normalised” next year, adding that protecting residents’ lives and health would remain the government’s top priority.
Secretary for Economy and Finance Lei Wai Nong said that the local government has not yet carried out an in-depth study on the possibility of setting up a Macao securities exchange in Hengqin, but it would keep an open mind on the possibility.
Macao’s annual wealth-sharing handout next year will once again be paid out in cash, Secretary for Economy and Finance Lei Wai Nong has told lawmakers.
Secretary for Economy and Finance Lei Wai Nong said that “tourism+sports” was a new way to cater for the needs of the urban middle class.
Macao’s general unemployment rate and local residents’ jobless rate of local residents for August-October remained unchanged at 2.9% and 4.1%.
Macao’s exports and imports in the first 10 months of the year fell by 18.1% and 7.1% to MOP 8.6 billion (US$1.08 billion) and MOP 67.4 billion respectively.
Until Tuesday, the second phase of the government’s consumption subsidy smartcard scheme had injected around MOP 2.9 billion to into the local market, an Economic Affairs Bureau (DSE) statement noted on Thursday.
The development of a financial services platform in Macao, able to offer new services such as credit insurance, will demand “many” specialised staff and training, according to economist Rodrigo Brum.
Macao’s gross domestic product (GDP) dropped by 63.8% year-on-year in real terms in the third quarter of this year.
A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter.
Macao’s foreign exchange reserves amounted to MOP 187.60 billion (US$23.50 billion) at the end of October 2020, according to preliminary data released by the Monetary Authority of Macao (AMCM) on Monday.
Macao Chief Executive Ho Iat Seng said today the government would further strengthen “top-down design” regarding innovation in the field of science and technology (sci-tech).