News

The Monetary Authority of Macao will host the 12th Quadripartite Meeting on November 29, 2012 at Macao Four Seasons. The one-day meeting will begin at 9:00 a.m. and participants include representatives from the China Insurance Regulatory Commission, Guangdong Bureau, Shenzhen Bureau, Office of the Commissioner of Insurance in Hong Kong and the Monetary Authority of Macao. On account of the close business cooperation between the insurance sectors in Guangdong, Hong Kong, Macao and Shenzhen, coupled with the introduction of new insurance products as well as the need to respond to ongoing changes in market development and the demand for innovation, regulators need to maintain close contact in order to reinforce supervisory cooperation. For this, the related regulators have agreed to establish a regular meeting mechanism starting from the year of 2002 onwards. Each regulator will take turn to organize quadripartite meeting for the purpose of sharing information on market development, opportunities and challenges encountered by the respective insurance sector. The 2012 Quadripartite Meeting will be organized by the Monetary Authority of Macao. The purposes of this meeting are to explore ways to exploit opportunities created by the Central Government, deepen cooperation among the four regulators, as well as to pursue stable market development and enhance governance.
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A survey on the services and charges of recruitment agencies to hire foreign domestic helpers has been released by Consumer Council, detailed survey result can be found in the Council's latest issue no. 230 Consumer Report. The magazine also features an introduction of the origins of global and local consumer protection work. The first consumer protection organization was established in New York in 1891 and it aimed to promote the development of consumer protection work by 'maintaining price index'; other consumer organizations, such as Hong Kong Consumer Council, were also established at a later stage to respond to the need of society to counter inflation. Consumer protection work first appeared in Macao in 70s and the establishment of Macao Consumer Council later also bore the same background and vision. The latest Consumer Report gives a review on the history of global consumer protection movement in the past 100 years and elaborates the promulgation of consumer protection law in Macao, as well as the current work of Macao Consumer Council. According to statistics, there are over ten thousand foreign domestic helpers in Macao, therefore, recruitment agencies has become a main channel for consumers to hire domestic helpers. The Council conducted a survey on the services and charges of recruitment agencies to hire foreign domestic helpers earlier. Survey result shows that a general service fee of MOP500.00 to MOP1,000.00 is charged by recruitment agencies to hire foreign domestic helpers. Service areas such as guarantee period for replacing new hires or refund for service charges all differ for various recruitment agencies, consumers should compare the fees, service areas, as well as regulations of different agencies before commissioning any to hire foreign domestic helpers. The Council also reminds recruitment agencies to provide services according to the related laws and regulations in Macao and consumers should refuse any services or terms which go against the laws. Details of the mentioned survey can be found in this issue no. 230 Consumer Report. The current issue also features recent work of the Council and the promotion of 'Certified Shop' campaign in Guangdong province. Consumer Report is now available free of charge at the office of Consumer Council (Rua Inácio Baptista, Nº 6-6A Edficio Seaview Garden R/C), and the service counter of Consumer Council at Macao SAR Government Service Centre (Rua Nova da Areia Preta, Nº52), Public Information Centre at Vicky Plaza, libraries and bookstores. Consumers may also access the resources online on the Council's official website (http://www.consumer.gov.mo). For enquiries, please call 8988 9315.
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Information from the Statistics and Census Service indicated that a total of 223 MICE events were held in the third quarter of 2012, a decrease of 13 events year-on-year, of which 192 events were held in paid venues. Total number of participants and attendees increased by 34% year-on-year to 699,805. There were 22 exhibitions held in the third quarter of 2012, an increase of 7 exhibitions year-on-year; number of attendees increased by 38% to 684,268. Meanwhile, the other 201 meetings and conferences had 15,537 participants. In accordance with the information collected from the 22 exhibition organisers, there were 16 repeated exhibitions that were previously held in Macao in 2011. The major reasons for selecting Macao as the exhibition destination are "business operation in Macao" (50%) and "expanding local market" (45%). Moreover, the 22 exhibitions held in the third quarter attracted 3,029 exhibitors and 45,504 professional visitors. With an increased number of exhibitions, revenue of the exhibition organisers surged by 319% year-on-year to MOP44.78 million in the third quarter of 2012, mostly from the Financial Support from Government and Other Organisations (71% of total). Expenditure amounted to MOP65.30 million, up by 101% year-on-year, with expenses on Advertising, Promotion & Public Relations; and Production, Construction & Decoration Services accounting for 20% and 19% of the total respectively. In the first three quarters of 2012, revenue and expenditure of the exhibition organisers amounted to MOP69.92 million and MOP97.09 million respectively. Information from 229 exhibitors interviewed showed that revenue of the exhibitors amounted to MOP5.40 million, with 93% coming from Sales of Products. Expenditure amounted to MOP4.15 million, of which Rental for Exhibition Booth accounted for 71%. In the first three quarters of 2012, revenue and expenditure of the interviewed exhibitors totalled MOP25.39 million and MOP9.65 million respectively. There were 728 MICE events held in the first three quarters of 2012, down by 45 events year-on-year. Total number of participants and attendees increased by 29% to 991,602, of which 903,444 attendees were attracted by the 42 exhibitions.
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Consumer Council released its latest specific price survey on over-the-counter drugs. Survey result showed that price discrepancies had shrunk since last surveyed, price differences recorded this time ranged from 14.9 percent to 42.53 percent. Consumer Council collected prices of 6 over-the-counter drugs from 28 drugstores on 22nd November, surveyed drugs included remedies for cold and flu, cough syrup, and stomachache medicine. The current survey result showed that price discrepancy of the same drug sold at different drugstores had shrunk. 'Advance Cough Suspension/120ml', which observed a price difference of 81.82 percent last time, now dropped to only 20.7 percent. 'Coltalin – Cold & Flu/Allergy Formula/12 tablets', which was sold at $33.0 to $43.5 and recorded price increases in several spots, observed a price difference of over 30 percent. The specific price survey on over-the-counter drugs also revealed that selling prices of the surveyed drugs were generally stable, only 'Coltalin - Cold & Flu / Allergy Formula/12 tablets' recorded a price increase of about 10 percent in 8 drugstores. Consumer Council indicates that its specific price survey aims at helping consumer make price comparison for the same product, consumers are therefore advised to check with the 'Specific product price information platform' prior to making purchase. The specific price survey on over-the-counter drugs is now available on the Council's website (www.consumer.gov.mo).
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Information from the Statistics and Census Service (DSEC) indicated that favourable situation of the job market prevailed. The unemployment rate for August-October 2012 declined further to 1.9%, down by 0.1 percentage point from the previous period (July-September); the underemployment rate held stable at 0.8%. In August-October 2012, total labour force was 353,300 and the labour force participation rate stood at 72.3%. Total employment reached 346,600, an increase of 2,400 over the previous period. Analysed by industry, notable increase was observed in the employment in Retail Trade and Construction. Number of the unemployed decreased by 300 from the previous period to 6,700, with 19.3% being fresh labour force entrants searching for their first job, down by 1.5 percentage points. In comparison with August-October 2011, the labour force participation rate, the unemployment rate and the underemployment rate decreased by 1.0, 0.6 and 0.2 percentage point respectively.
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Constructed and operated by Macau Hoteliers and Innkeepers Association with the support from Macau Government Tourist Office (MGTO), "Macau Budget Hotels Site" is officially launched today (November 27) to help boosting local budget hotels' competitiveness and capability of operation as well as fostering the diversified development of tourist markets. The web address of "Macau Budget Hotels Site" is www.macau-budgethotels.org , a non-profit website available in three languages, namely traditional Chinese, simplified Chinese and English. The website content includes information of the budget hotels, online room-booking service for direct transactions between consumers and operators, travel information, etc. While some budget hotels are not prepared yet to run their operation electronically, 8 budget hotels have joined the online room-booking service at the first stage with the assistance of Macau Hoteliers and Innkeepers Association, with over 500 rooms available for booking, comprising one third of same-category rooms operated in Macau. With the trade and government's concerted efforts, it is believed that more accommodation entities can participate in the online booking service in the future. After receiving a booking confirmation from the hotels, clients can settle the payment upon check-in. "Macau Budget Hotels Site" will also launch the online payment service soon. Clients can pay online through Visa, Master or Unionpay cards. Room payment can be refunded if booking is cancelled within the stipulated period. In order to increase budget hotel operators and employees' competitiveness and also in accord with the website development, Macau Hoteliers and Innkeepers Association have progressively organized various kinds of training courses for the industry practitioners of budget hotels, e.g. sales and operation management, cleaning management, room product procurement, website back-end management, etc. In order to facilitate the long-term goal of developing Macau into a "World Centre of Tourism and Leisure" as well as to cater for the demand of budget hotel market development, MGTO encourages and supports the trade to launch "Macau Budget Hotels Site", endeavoring to upgrade Macau budget hotels' capability of operation and competitiveness and to contribute more effort in promoting budget accommodation so that it can further diversify the tourist markets and fulfill various visitors' needs. Budget hotels commonly refer to hotels and guest houses rated two stars or lower. Currently, there are 13 two-star hotels, 4 three-star guest houses and 29 two-star guest houses, providing close to 1,500 rooms.
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Information from the Statistics and Census Service (DSEC) indicated that inward foreign direct investment (FDI) flows amounted to MOP 5.19 billion in 2011, down significantly by MOP 17.47 billion year-on-year, on account of increased dividend payouts to shareholders of enterprises that drove up outflow of funds. Analysed by investors' place of usual residence, FDI inflows came mainly from the British Virgin Islands (MOP 8.43 billion), the United States (MOP 3.35 billion) and Mainland China (MOP 2.29 billion); the majority of inflows was invested in Cultural, Recreational & Other Services (MOP 4.25 billion), Wholesale & Retail (MOP 3.21 billion) and the Financial Sector (MOP 1.61 billion). On the other hand, outward FDI flows from Macao enterprises amounted to MOP 965 million, resulting in a net FDI inflow of MOP 4.22 billion in 2011. Inward FDI income earned by foreign investors totalled MOP 46.71 billion in 2011, up notably by MOP 18.36 billion year-on-year, of which income earned from the Gaming Sector reached a record high of MOP 30.90 billion (66.1% of total). Meanwhile, Macao enterprises also registered an income of MOP 1.28 billion from outward FDI. At the end of 2011, stock of inward FDI amounted to MOP 118.90 billion, up by MOP 9.86 billion year-on-year. Analysed by industry, stock of inward FDI in the Gaming Sector reached MOP 67.80 billion, followed by that in the Financial Sector at MOP 25.50 billion and Wholesale & Retail at MOP 10.55 billion. Analysed by investors' place of usual residence, inward FDI stock was mainly financed by investors from the Cayman Islands (MOP 41.08 billion), Hong Kong (MOP 31.09 billion) and the British Virgin Islands (MOP 18.61 billion). Meanwhile, stock of outward FDI by Macao enterprises amounted to MOP 5.38 billion in 2011, up by MOP 972 million year-on-year, with investment in Hong Kong sharing MOP 4.47 billion. Direct Investment Statistics facilitate analysis of FDI profile between Macao and other economies. For statistical purposes, Macao and Mainland China are considered as two separate economies. Coverage of the Direct Investment Statistics included the major industries of Macao, namely Industrial Production; Construction; Wholesale & Retail; Hotels & Restaurants; Transport, Storage & Communications; Financial Services; Gaming; and Cultural, Recreational & Other Services. In 2011, there are 1,993 inward FDI enterprises, with 1,943 engaging in the Non-Financial Sector and 50 in the Financial Sector.
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Co-organized by the Historical Archives of Macao of the Cultural Affairs Bureau and the Macau Alumni Association of Sun Yat-Sen University of Medical Sciences, "Philanthropy in Medical Care - Historical Photographs Exhibition" has received overwhelming response from the public since its opening on November 9 2012. The Historical Archives of Macao has decided to extend the exhibition until December 7 2012 to enable more people to have the opportunity to visit the exhibition and know more about the medical and social development of Macao in the last 80 years. This exhibition features historical photographs, some dating back to 1930s, which document the active involvement of Sun Yat-sen University of Medical Sciences' Macau alumni in the medical and social development of the territory. The photographs are a depiction of the contributions and achievements of respected alumni, such asKe Lin, Chan Mun, Sio Kuan Lon, Io Pat Iok and Tam Woon Yung, among others, as well as an illustration of the growth and activities of local health services. Through this display, the public can revisit the history of Macau's social and medical development and significant medical breakthroughs in the territory. "Philanthropy in Medical Care - Historical Photographs Exhibition" opens daily from 10am to 6pm at the Gallery of the Archives, at Tap Seac Square. Admission is free.
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The Human Trafficking Deterrent Measures Concern Committee, in association with the Academy of Public Security Forces (ESFSM), organized the "Combating Human Trafficking – Labour Exploitation" Workshop on November 26 at the hall of ESFSM. Mr. Zhao Guoqiang, Professor of Law, and Professor Zhu Xinli, Executive Dean of Zhejiang University Guanghua Law School were invited to lecture at the workshop attended by trainees from the Labour Affairs Bureau, Macao Customs, Public Security Police, Judiciary Police and the Academy of Public Security Forces. Topics of the Workshop include "Distinguishing the Crime of Labour Exploitation in Human Trafficking" and "Social Regulations on Labour Exploitation in Human Trafficking". Through this Workshop, participants are given opportunities to learn how to define human trafficking cases and distinguish characteristics between crimes from legal and administrative aspects, as well as the feasible measures adopted to combat the crime.
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To familiarize the legal professionals with the developmental trends of legal instruments for cooperation in criminal matters, the Legal and Judicial Training Centre (CFJJ) is going to organise a workshop under the theme "Judicial Cooperation in Criminal Matters". This event will take place on December 3rd - 7th (Monday – Friday), from 5:00 p.m. to 7:00 p.m. in the Auditorium of the CFJJ, Rua do Dr. Pedro José Lobo, n.° 1-3, Luso International Banking building, 18th floor, Workshop as part of the 2nd EU-Macao Co-operation Programme in the Legal Field, the workshop will feature as its keynote speaker Ms. Joana Antónia Ribeiro Gomes Ferreira, Head of Documentation and Comparative Law Office of Portugal's Attorney General's Office, Coordinator of the International Judicial Cooperation in Criminal Matters Services Branch of Portugal's Attorney General's Office, Attorney-General of the Republic, Portugal. This workshop will be conducted in Portuguese with simultaneous translation to Cantonese. During the five daily sessions, which will take place until December 7th, the following topics will be discussed: 1. Judicial cooperation in criminal matters:
a) Sources and general principles;
b) Key regulatory instruments and its hierarchy: UN (United Nations); EU (European Union); CPSC (Community of Portuguese Speaking Countries); bilateral instruments;
c) The national option for a specific legislative instrument. 2. Extradition and the international surrender of persons:
a) Sources and general principles;
b) The main instruments including the surrender procedures to the international criminal bodies;
c) General schemes of Macao and of Portugal. Portugal's case: one country with various schemes;
d) Practical case discussion. 3. Other forms of judicial cooperation in criminal matters:
a) Transfer of sentenced persons;
b) Transfer of proceedings in criminal matters;
c) Enforcement of foreign criminal sentences;
d) Practical application. 4. Mutual legal assistance in criminal matters:
a) Sources and general principles;
b) General principles and main forms of cooperation;
c) The use of new technologies;
d) Cybercrime. Judicial / police cooperation and collection of evidence;
e) Case discussion. 5. The negotiation and drafting of treaties, agreements and other international instruments in the area of police and judicial cooperation in criminal matters:
a) Legislative assessment and the OECD's checklist (Organisation for Economic Co-operation and Development);
b) The prioritisation of criminal policy and internal security, taking into consideration criminal flows and international priorities;
c) The pre-existing legal framework and the fall-back positions;
d) The explanatory reports;
e) The drafting of legislation: general concepts and language standardisation. The 2nd EU-Macao Co-operation Programme in the Legal Field, which incorporates this workshop, has as its main objective the "Consolidation of the Macao Legal System" and will take place until December 2013. The execution of this Programme is coordinated by the Law Reform and International Law Bureau, with the participation of several other MSAR's entities and public departments, namely the Legal and Judicial Training Centre, the Legal Affairs Bureau, the Macau Economic Services, the Financial Services Bureau and the Institute of European Studies of Macao.
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