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According to statistics released today by the Monetary Authority of Macao, money supply continued to grow in August. Driven by a faster increase in resident deposits, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier.
Money supply
Currency in circulation and demand deposits rose 0.9% and 3.3% respectively. M1 thus increased 2.9% from one month earlier. Concurrently, quasi-monetary liabilities grew 5.6%. The sum of these two items, i.e. M2, increased 5.2% to MOP348.1 billion. On an annual basis, M1 and M2 rose 20.9% and 24.8% respectively. The share of Pataca (MOP) in M2 stood at 24.6%, down 1.1 percentage points over a month ago or 1.0 percentage point from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 55.5%, up 0.6 percentage points month-to-month or 2.1 percentage points year-on-year.
Deposits
Resident deposits grew 5.3% from the preceding month to MOP341.0 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 0.7%, 6.3% and 8.2%. Non-resident deposits dropped 8.8% to MOP115.9 billion while public sector deposits with the banking sector increased 1.5% to MOP41.0 billion. As a result, total deposits with the banking sector rose 1.4% from a month earlier to MOP497.9 billion. The shares of MOP and HKD in total deposits were 21.1% and 47.5% respectively.
Loans
Domestic loans to the private sector increased 0.6% on a monthly basis to MOP187.6 billion. Among which, MOP52.1 billion was MOP-denominated and MOP119.4 billion was denominated in HKD, representing 27.8% and 63.6% of the total respectively. On the other hand, external loans rose 1.2% to MOP215.7 billion; of which, loans denominated in MOP and HKD accounted for 0.6% (MOP1.4 billion) and 24.1% (MOP52.0 billion) respectively.
Loan-to-deposit ratios
As resident deposits grew faster than domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-August fell 2.1 percentage points month-to-month to 49.1%. The ratio for both the resident and non-resident sectors was 81.0%, down 0.4 percentage points from end-July.
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Information from the Statistics and Census Service indicated that a total of 1,714 restaurants & similar establishments as well as cooked-food stalls in markets were in operation in 2011, an increase of 66 compared with 2010, comprising 1,660 restaurants & similar establishments and 54 cooked-food stalls. Total number of persons engaged decreased by 953 to 21,219. Sales & Other Receipts of the sector increased by 11% year-on-year to MOP 6.09 billion and Total Expenditure rose by 10% to MOP 5.71 billion. Gross Value Added that measures the sectoral contribution to the economy amounted to MOP 2.36 billion, up by 9%; Gross Fixed Capital Formation went up by 37% year-on-year to MOP 298 million. There were 1,660 restaurants & similar establishments operating in 2011, up by 74 year-on-year. However, number of persons engaged decreased by 4% year-on-year to 21,119, with 19,581 being paid employees (93% of total). Sales & Other Receipts amounted to MOP 6.07 billion, up by 11% over 2010; of which eating places (MOP 3.43 billion) increased slightly by 1% while restaurants (MOP 2.29 billion) surged by 29% over 2010. Total Expenditure of restaurants & similar establishments amounted to MOP 5.70 billion, up by 10% over 2010. Analysed by item, Purchase of Goods (MOP 2.35 billion), Compensation of Employees (MOP 1.92 billion) and Operating Expenses (MOP 1.43 billion) increased by 12%, 6% and 13% year-on-year respectively. Gross Value Added of restaurants & similar establishments amounted to MOP 2.35 billion, up by 9% year-on-year; Gross Fixed Capital Formation increased by 37% to MOP 298 million. A total of 54 cooked-food stalls were operating in markets in 2011, down by 8 over 2010. Number of persons engaged totalled 100 and only 17 of them were paid employees. Receipts and Expenditure amounted to MOP 19 million and MOP 12 million respectively, each down by 2% year-on-year. Gross Value Added increased by 5% to MOP 9 million. Coverage of the Restaurants & Similar Establishments Survey includes licensed restaurants, eating & drinking places and cooked-food stalls in municipal markets in 2011, excluding hotel-operated restaurants and similar facilities, as well as street hawkers.
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The 24th Macau International Fireworks Display Contest has come to a perfect finale. The Panda Fireworks Group from China proudly won the first prize, followed by the teams from France, Lacroix-Ruggieri and Australia, Infinity Pyrotechnic in the second and third place respectively. The prize-giving ceremony took place at Macau Tower, director of MGTO, João Manuel Costa Antunes, Deputy Director Maria Helena de Senna Fernandes and Manuel Pires attended the ceremony. Director Antunes expressed that next year will be the 25th anniversary of Macau International Fireworks Display Contest; MGTO will present more fantastic performance and uphold the reputation its has ploughed for 25 years to attract spectators across the world and add more splendor to the World Centre of Tourism and Leisure. The prize for the top winner team is USD 8,000 while the prizes for the second and third winners are USD 4,000 and USD 2,500 respectively in the fireworks display contest. The participating teams this year are from (in the contest order) Korea; Thailand; Taiwan, China; Australia; Portugal; France; United States; Italy and Mainland China. Among the contestant teams, the fireworks companies from France and Italy were staging their first performance in the contest. To celebrate the 63rd Anniversary of the Founding of the People's Republic of China, Panda Fireworks Group Co. Ltd from Mainland China presented the finale performance again this year, reminiscent of warm sentiments. Large crowds of citizens went out to rejoice in the fireworks during the National Day's holiday. Festive air permeated various points on Macau Peninsula and Taipa, which was crowded and bustling in addition to many visitors. This year, MGTO worked with Companhia de Telecomunicações de Macau S.A.R.L. (CTM) again to jointly present the SMS Game in order to foster citizens' participation in Macau International Fireworks Display Contest. To boost the festive ambience, MGTO continued to co-organize the Fireworks Carnival with the General Union of Neighbors Association of Macau, an array of live entertainment and tasty delicacies which added more fun and color to the fireworks display nights. MGTO has held Macau International Fireworks Display Contest for 24 years till today, an annual major event in Macau which has gained a prestigious international reputation. Both citizens and visitors earnestly look forward to the delightful moments of the fireworks show which overflows the holidays and festivals with joy and celebrations. The fireworks display contest has become a symbol and characteristic of Macau.
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The Chief Executive, Mr Chui Sai On, said the government would continue to support the livelihood of the people of Macao amid uncertainties with the global economy. Mr Chui said this, when addressing 750 guests at a reception, hosted by the Macao SAR Government at the Macau Tower today as part of the celebrations of the 63rd National Day. He said the government had recently raised the minimum subsistence index and old-age allowance. In addition to ensuring a high employment rate, the government would also proactively support socially vulnerable groups and provide assistance to the economically-challenged, to ensure a reasonable share of economic gains among members of the community. The government would also help solve the housing issue and constitute a long-term social security mechanism. He said Macao should speed up evolving into a global tourism and leisure hub and a business and services platform between China and the Portuguese-speaking countries. As for the tourism industry, he said the government would continue to support it and related sectors, and notably encourage the development of non-gaming elements and the enhancement of all kinds of facilities and services. Mr Chui also reviewed the exceptional achievements of the Mainland, highlighting its economic strategies and breakthroughs in social, livelihood of the public, science and education this year. He thanked the Central Government and all its representative offices in Macao for their comprehensive support for Macao. Guests attending the reception included the Vice Chairman of the Chinese People's Political Consultative Conference (CPPCC), Mr Ho Hau Wah, the Director of the Liaison Office of the Central People's Government in the Macao Special Administrative Region, Mr Bai Zhijian, the Commissioner of the Ministry of Foreign Affairs of the PRC in Macao SAR, Mr Hu Zhengyue, the Commander of the Macao Garrison of the People's Liberation Army, Senior Colonel Zhu Qingsheng, the President of Legislative Assembly, Mr Lau Cheok Va, and the President of the Court of Final Appeal, Mr Sam Hou Fai. In the morning,some 200 guests attended the flag raising ceremony at Golden Lotus Square.
Meanwhile, a number of government departments also hold celebratory events, including the World Walking Day Fun Run starting at Golden Lotus Square after the flag-raising ceremony, and a variety show organised by the Macao Sport Development Board, at Macao East Asian Games Dome, at 2 pm. Pyrotechnics displays of the 24th Macau International Fireworks Display Contest, by teams from France and China, will take place on the waterfront near Macau Tower at 9 pm and 10 pm. Sale of Commemorative covers and a stamping service are offered at the Post Office from 9 am to 5.30 pm.
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The Macao SAR Government will hold a number of celebratory events tomorrow to commemorate the 63rd National Day. The Chief Executive, Mr Chui Sai On, will officiate the flag-raising ceremony at Golden Lotus Square at 8 am, to be attended by representatives from the Liaison Office of the Central People's Government in the Macao SAR, the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macao SAR, the Macao Garrison of the People's Liberation Army, heads of the legislature, judiciary, principal officials, community leaders and members of the public. This will be followed by a reception at Macau Tower at 9:30 am, to be attended by government officials, representatives of Central Government agencies in Macao and community leaders. A number of government departments will also hold celebratory events, including the National Day Fun Run starting at Golden Lotus Square after the flag-raising ceremony, and a variety show organised by the Macao Sport Development Board, at Macao East Asian Games Dome, at 2 pm. Pyrotechnics displays of the 24th Macau International Fireworks Display Contest, by teams from France and China, will take place on the waterfront near Macau Tower at 9 pm and 10 pm. Commemorative covers will be on sale and a stamping service will be offered at the Post Office from 9 am to 5.30 pm.
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To prepare for "1st October National Day Golden Week", Consumer Council, Economic Services department (DSE), Macau Government Tourist Office (DST), Transport Bureau (DSAT), Judiciary Police (PJ), Public Security Police Force (PSP), Macao Custom Service, Provisional Municipal Council (IACM) and Health Bureau (SSM) met earlier to discuss measures on safeguarding consumer rights. Consumer Council will provide services to consumers through its hotline (Consumer Council hotline: 8988 9315) from11am to 6pm each day during the Golden Week (30th September to 3rd October).
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Consumer Council conducted price checks on eggs earlier. Survey result, together with data from previous months, showed that prices of eggs were stable, and the greatest price difference of the same egg brand sold in different retail outlets recorded was 27.5 percent. The Council conducted a price check on 9 brands of eggs from 13 supermarkets on 25th September. In comparison with the data from July's survey, egg prices remained stable. Prices of 'Fresh eggs (Hubei Jinsheng)/8pcs', which was sold at regular prices in many retail spots this month, had been raised from $10.2 to $12.5, and a price difference of 27.5 percent was recorded; the mentioned egg brand also recorded the greatest price difference among all egg brands surveyed. 'Surewin Egg/8 pcs' and 'Fred Meyer Grade AA Extra Large Eggs/12 pcs' both recorded price differences of about 20 percent while other egg brands differed for less than 10 percent in various outlets. The specific price survey on eggs is now available on the Council's website (www.consumer.gov.mo) and the Council's 'Supermarket Price Information Platform' iPhone and Android apps. For enquiry, please call 8988 9315.
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Information from the Statistics and Census Service (DSEC) indicated that total merchandise export for August 2012 amounted to MOP816 million, up by 49.6% year-on-year, attributable to a 83.5% surge in re-exports (MOP632 million), but domestic exports (MOP184 million) decreased by 8.6%. Total merchandise import amounted to MOP6.05 billion, up by 7.1% year-on-year. Merchandise trade deficit amounted to MOP5.24 billion for August 2012. In the first eight months of 2012, total value of merchandise export increased by 19.4% year-on-year to MOP5.40 billion, of which value of re-exports (MOP3.82 billion) and domestic exports (MOP1.58 billion) increased by 29.7% and 0.1% respectively; meanwhile, total value of merchandise import increased by 19.6% to MOP46.50 billion. Merchandise trade deficit for the first eight months of 2012 amounted to MOP41.10 billion. From January to August 2012, merchandise export to Hong Kong (MOP2.74 billion) and Mainland China (MOP875 million) increased by 41.9% and 18.5% year-on-year respectively, while export to the USA (MOP344 million) and the EU (MOP226 million) decreased by 12.5% and 17.0% respectively. Exports of Non-textiles (MOP4.66 billion) in the first eight months of 2012 expanded by 30.7% year-on-year, of which exports of Machines & apparatus, parts & accessories thereof (MOP989 million) and Tobacco & wine (MOP519 million) surged by 163.4% and 23.7% respectively, yet exports of Textiles & garments (MOP739 million) decreased by 22.7%. Domestic exports of Tobacco & wine (MOP361 million) rose by 28.7%, while that of Knitted or crocheted garments (MOP239 million) declined by 25.1%. Re-exports of Machines & apparatus, parts & accessories thereof (MOP984 million) increased by 166.7%. In the first eight months of 2012, merchandise import from Mainland China (MOP14.99 billion) and the EU (MOP10.89 billion) increased by 25.1% and 12.4% respectively. Imports of Consumer goods rose by 21.0% to MOP28.40 billion, with imports of Gold jewellery (MOP4.92 billion), Watches (MOP3.47 billion) and Motor cars & motorcycles (MOP2.14 billion) increasing by 33.7%, 46.7% and 49.2% respectively. Moreover, imports of Capital goods (MOP8.53 billion) registered a year-on-year increase of 20.6%. External merchandise trade reached MOP51.90 billion in the first eight months of 2012, up by 19.6% compared with MOP43.39 billion a year earlier.
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Macau Government Tourist Office (MGTO) received the lucky tourist and held the traditional tray race and dinner banquet to celebrate World Tourism Day together with the world today (September 27). During his speech at the dinner, Director of MGTO, João Manuel Costa Antunes expressed, "On its development path Macau tourism industry faced several adversities and challenges, but thanks to the unity and effort of tourism stakeholders difficulties were overcome. When MGTO decided to open the India market faced some skepticism but today India market performance proves that we have made the right choice, and next year we have plans to open a representative office in Russia. 2013 is an important year for Macau tourism industry as we will celebrate the 60th Macau Grand Prix and 25 years of the Macau International Fireworks Display Contest. Despite the unstable international environment, I am optimistic about the prospects of the tourism industry and may we all continue to give our best so that united we can achieve better results." MGTO Director João Manuel Costa Antunes and Deputy Director Manuel Pires arrived at Macau Ferry Terminal this morning to present welcome souvenirs to the lucky tourist today. Souvenirs were also distributed to visitors at MGTO Information Counters throughout the day. The lucky tourist of World Tourism Day this year is named Linda from Switzerland, who came with her friends to Macau the first time. Knowing about Macau through Internet, Linda stated that she planned to have a sightseeing day trip around Macau. The traditional tray race was held in the afternoon with participants setting off from the Ruins of St Paul's to Senado Square. The race was divided into men's and women's categories and attracted over 210 participants representing more than 20 hotels and restaurants in Macau. Winner of the men's category was Ken Zhang Jun Ru from Galaxy Hotel, while winner of the women's category was Fatzzy Tan from Venetian Macau Resort Hotel. Best Costume Awards went to Liang Hua An of Macau Fisherman's Wharf and Li Qiying of Holiday Inn Macau. During the 3rd session of its General Assembly in Spain in 1979, World Tourism Organization (UNWTO) decided to designate September 27 as the annual "World Tourism Day". This is the 33rd year since the celebrations commenced in 1980. The main purpose of founding "World Tourism Day" is to foster awareness of the importance of tourism and especially its social, cultural, political and economic values among the international community. World Tourism Organization selects a specific theme message to commemorate "World Tourism Day" each year. In the past 32 years, a different theme was selected for the annual World Tourism Day. This year is the 33rd anniversary of World Tourism Day and the theme is "Tourism & Sustainable Energy: Powering Sustainable Development". The official celebrations of World Tourism Day 2012 are launched on September 27 in Maspalomas, Spain, with over 100 countries carrying out celebrations around the world on the day as well. For more details, please visit: http://wtd.unwto.org/en On the other hand, constructed and operated by Macau Hoteliers and Innkeepers Association, an online booking platform for budget accommodation will soon be launched under MGTO's support and encouragement. The related website will provide a platform for direct deals between operators and consumers and is expected to increase the overall capacity and competitiveness for budget accommodation. This press release is available at: http://www.macautourism.gov.mo
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The Chief Executive, Mr Chui Sai On, said today the First Beijing Macao Economic and Trade Exchange Symposium would serve as a platform for the Beijing and Macao governments to strengthen and open up more room for co-operation.
He said this in a keynote speech as he officiated the opening of the symposium in Beijing, together with the Secretary of CPC Beijing Municipal Committee, Mr Guo Jinlong and the Acting Mayor of Beijing, Mr Wang Anshun.
Mr Chui said Beijing and Macao have close exchanges and contacts and the symposium was the fruit of the dedication of two governments. It could help to further expand co-operation on trade, tourism, convention, cultural and creative and city management, which would meet the needs in the economic and social development of the two places, he said.
In his speech, Mr Wang Anshun said the symposium was seen as a new chapter for co-operation between Beijing and Macao and it was one the major initiative of the Central Government on strengthening economic and trade co-operation between the Mainland and Macao.
The Beijing Government looked forward to using this platform to foster co-operation with the Macao Government, Mr Wang added.
During the opening ceremony, three strategic co-operation agreements on tourism, investment and trading, and convention and exhibition were signed.
According to the agreements, the tourism authorities of the two governments would jointly establish a tourism co-operation and co-ordination mechanism for tourism promotion, communication, and stipulate regulations and to develop multi-destination travel.
On trade co-operation, both areas would enhance the exchange of information on business and exhibitions, jointly host conventions and exhibitions, introduce business partners and provide commercial opportunities.
Mr Chui told reporters after the ceremony that more that 100 local business units were participating in the symposium to promote their products and described it as a good foundation of co-operation between the Beijing and Macao. He also revealed that he met with Mr Guo and Mr Wang earlier and that they have agreed to deepen co-operation on business, trade and culture, and had particularly discussed strengthening business promotion to the Portuguese-speaking countries and the Romance-speaking. Leaders of the two governments toured and inspected the exhibition hall before the opening of the symposium.
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