Coordinated Portfolio Investment Survey 2006

The Coordinated Portfolio Investment Survey (CPIS), jointly conducted by the Monetary Authority of Macao (AMCM) and the Statistics and Census Service of Macao (DSEC), is aimed at collecting information on investment by Macao residents in securities issued by unrelated non-residents, in terms of market value and geographical distribution. The results of CPIS for the reference year of 2006 are summarised as follows: On 31 December 2006, the investment of Macao residents (including individuals, the government and other legal entities, but excluding Macao’s foreign exchange reserves) in securities issued by unrelated non-residents amounted to MOP83.2 billion at current market value, up 25.6% or MOP16.9 billion from 2005. Of this, equity securities, long-term debt securities and short-term debt securities were valued at MOP28.8 billion, MOP48.8 billion and MOP5.6 billion respectively. In comparison with the previous year, the investment in equity securities and long-term debt securities soared by 27.4% and 30.2% respectively whereas that in short-term debt securities fell by 8.6%. The investment in securities issued by Hong Kong entities accounted for the largest share, representing 18.7% of the total market value of Macao residents’ portfolio investment abroad. The rest was mainly invested in the United States (11.7%), Mainland China (9.8%), the United Kingdom (8.8%), the Netherlands (6.7%), Australia (6.0%), Germany (5.2%) and the Cayman Islands (4.2%). The market value of investment in securities issued by Hong Kong entities reached MOP15.6 billion, an increase of 10.2% or MOP1.4 billion from 2005. Among these securities held by Macao residents, equities accounted for MOP7.5 billion, long-term debt securities MOP6.9 billion and short-term debt securities MOP1.2 billion, constituting 26.0%, 14.2% and 21.5% of the total in the corresponding categories. On the other hand, the investment in securities issued by Mainland Chinese entities remained on the rise. The respective market value more than doubled from a year ago, and its share in the total securities investment rose from 6.1% in 2005 to 9.8% in 2006. Among the three types of securities issued by Mainland Chinese entities, equities skyrocketed by 170.4%, making up 22.7% of the total value of equity securities. The share of investment in European securities increased slightly from 34.4% in 2005 to 34.9% in 2006. As major European currencies strengthened against the US dollar during the survey period, the market value of investment in European securities rose by more than 60%. Although the market value of British securities investment fell by 11.0% over one year earlier to MOP7.3 billion, the United Kingdom still accounted for the largest share among all European countries or regions. In the meantime, Macao residents’ investment in securities issued by entities from the Netherlands grew significantly by 146.9% to MOP5.6 billion. The United States remained the largest debt securities issuer in the globe. At end-2006, the market value of US securities held by Macao residents reached MOP9.8 billion, up 9.9% over the same period of 2005. Long-term US debt securities were valued at MOP8.5 billion, accounting for the largest share in the respective category. Partly attributed to the strong Australian dollar, the market value of investment in Australian securities rebounded 14.5% from 2005 to MOP5.0 billion. The investment was mainly concentrated in debt securities; of which, long-term debt securities rose 14.8% from the previous year to MOP3.9 billion, while short-term debt securities advanced by 8.1% to MOP0.9 billion. For enquiry, please contact:
Research and Statistics Department
Monetary Authority of Macao (Tel：3952532Fax：28353042)
19 September 2007
(Detailed report on CPIS2006 is available on: http://www.amcm.gov.mo/publicaton/Publication.htm) Annex Table