News

According to the monitoring data of Gamma Radiation recorded for the past 24 hours (29th May 16:01 till 30th May 16:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1169 and 0.1300μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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Information from the Statistics and Census Service (DSEC) indicated that Gross Domestic Product (GDP) for the first quarter of 2011 expanded by 21.5% in real terms. The increment is attributable to the increase in exports of services and investment, of which exports of gaming services surged by 36.1%, total visitor spending (excluding gaming expenses) increased by 2.6%, investment expanded by 28.4% and private consumption expenditure rose by 12.6%; however, merchandise exports contracted by 6.7%. Implicit deflator of GDP for the first quarter of 2011, reflecting changes in overall prices, increased by 6.1% year-on-year. Furthermore, GDP change for 2010 revised upward from 26.2% to 26.4% in real terms. In the first quarter of 2011, private consumption expenditure increased by 12.6% that was spurred by the impetus of the continuous booming tourism and gaming sector, rise in total employment and income, as well as low unemployment rate. Final consumption expenditure in the domestic market increased by 9.6%; at the same time, final consumption expenditure abroad soared by 24.5%, with that in Mainland China amounting to MOP 1.73 billion. Government final consumption expenditure declined by 1.8% on account of the 16.9% decrease in net purchases of goods and services; however, compensation of employees increased by 5.6%. Gross fixed capital formation, the gauge of investment, expanded by 28.4%. Private investment grew by 28.4%, with construction investment and equipment investment increasing by 26.1% and 32.3% respectively. Government investment increased by 32.2%, in which construction investment and equipment investment rose by 4.4% and 149.8% respectively. Protracted decline in merchandise exports continued to register a decrease of 6.7% in the first quarter of 2011. On the contrary, merchandise imports increased by 22.7%, attributable to the private consumption and investment. As regards trade in services, exports of services surged by 30.0% in the first quarter of 2011, upon rising visitor arrivals and increase in visitors spending, of which exports of gaming services expanded by 36.1%, total visitor spending (excluding gaming expenses) went up by 2.6%. In addition, imports of services increased by 37.3%.
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According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) dropped from the previous quarter in the first quarter of 2011. On outstanding balance, increases were observed in both RMLs and CRELs. New Lending Approved For the first quarter of 2011, new RMLs approved by Macao banks decreased by 18.8% quarter-to-quarter to MOP8.5 billion; of which, 94.0% was extended to residents. In terms of approved value, new RMLs to residents and to non-residents dropped 17.9% and 31.0% respectively. When compared with the same period of 2010, new approvals of RMLs increased by 21.7%. After registering decline in the previous quarter, new CRELs approved decreased further by 17.6% quarter-to-quarter to MOP6.2 billion in the first quarter of 2011; of which, 87.3% was granted to residents. In terms of approved value, new CRELs to residents and non-residents dropped by 17.3% and 19.1% respectively. On an annual basis, new approvals of CRELs rose by 17.1%. Outstanding Balances As at end-March 2011, the outstanding value of RMLs reached MOP65.2 billion, an increase of 6.6% from three months earlier or 34.8% from a year ago. The resident component made up 90.4% of the total. Outstanding RMLs to residents grew by 7.4% whereas outstanding RMLs to non-residents edged down by 0.1% from three months earlier. Concurrently, the outstanding value of CRELs rose 3.8% from end-December 2010 or 29.4% from end-March 2010 to MOP50.8 billion. Residents accounted for 89.0% of the loans. Outstanding CRELs to residents and non-residents rose 3.2% and 9.3% respectively from three months earlier. Delinquency Ratios At the end of March 2011, the delinquency ratio for RMLs stood at 0.09%, down 0.01 percentage point from three months earlier or 0.06 percentage points from a year ago. The ratio for CRELs went up 0.24 percentage points from end-December 2010 or 0.08 percentage points from end-March 2010, to 0.41%.
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Today (27 May 2011), the University of Macau (UM) held the Congregation 2011 at the Macau East Asian Games Dome. More than 3000 people, including approx. 1000 graduates, members of the University Assembly and the University Council of UM, government officials, community leaders, representatives from the educational circle, parents and UM staff, attended the ceremony. Chief Executive of Macao SAR and Chancellor of UM Dr. Chui Sai On, accompanied by Chair of the University Council of UM Dr. Tse Chi Wai, UM Rector Wei Zhao, Vice Rector (academic affairs) Prof. Simon Ho, Vice Rector (research) Prof. Rui Martins, Vice Rector (administration) Dr. Alex Lai, presided over the ceremony. In his speech Dr. Chui said: "Through thirty years of development, the University of Macau has established—and is constantly improving—a set of sound and scientific systems on teaching, academic research and university governance, with the quality of scientific research on steady increase. The rapid progress of the university in hardware, faculty team development, teaching quality, and overall competitiveness, has earned the university high recognition and greater support from the SAR government." He said that the future of UM will be "as beautiful as the new campus". He also expressed hope that UM can "seize the new opportunities and rise up to the challenges" and work hard to "realize the goal of becoming a world-class university". At the end of his speech, he encouraged the students to "embark on the new stage of life with tenacity, persistence, an enterprising spirit, a strong sense of social responsibility, and a willingness to pursue constant improvement" and "contribute to a better future of Macao SAR" and make the alma mater proud of them. In his speech Rector Wei Zhao said "In fact, motivation for research shares a lot of similarities with those of modern sports. First, we conduct research, typically, for practical applications, for example, invention of a new kind of medicine. We can liken this to people who exercise every day in the hope that it will result in some practical benefits; for example, running daily will increase our speed and endurance to enable us to run faster in life threatening incidents, for instance. However, practical applications should not be the only reason for conducting research, in the same way as practical benefit should not be the sole purpose of playing sports. Sports test our physical and mental strengths and persistence, whereas research explores the unknowns and challenges to go beyond the limits. In both cases, a holistic approach is required. That is why we believe that research is an essential part of education for our students." Rector Wei Zhao added that both sports and research have been a "means to attract talents". He said that some top European and American universities "utilize their research opportunities and emphasis on sports to attract hundreds of thousands of talents and top notch athletes". So he believes that UM's "dedication to and emphasis on a research-focused culture will also attract many talented scholars to come here". Rector Wei Zhao further added that sports and research are "effective ways to galvanize the population at large", and the "active development" of research will be "crucial for Macao's long-term development". He said that's why UM is committed to "pursuing research excellence for Macao, for China, and beyond". Student representative Lai Hok Chio thanked the support of the teachers, staff and their families on behalf of all graduates and expressed hope that UM can "scaling new heights in teaching and research". The student said: "Sometimes I do think that it is a pity that I had not been born a few years later to make me able in time to study on the new campus on Hengqin Island so that I could be exposed to a more lively campus culture, enjoy better teaching resources, and reap the benefit of studying under the residential college system. A few years of total immersion in the campus life and getting along with teachers and fellow students in the community atmosphere of the residential colleges would not only make us more dedicated to our study, but would also offer us an unforgettable life experience."
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (26th May 16:01 till 27th May 16:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1187 and 0.1318μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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Information from the Statistics and Census Service (DSEC) indicated that the unemployment rate for February-April 2011 was 2.7% and the underemployment rate was 1.4%, both remained unchanged from the previous period (January-March 2011). Total labour force was 334,000 in February-April 2011 and the labour force participation rate stood at 71.2%, with the employed population decreasing by about 400 over the previous period to 325,000. Analyzed by industry, employment of the Gaming Sector and the Construction Sector saw increase, while that of Hotels, Restaurants & Similar Activities registered a decrease. Number of the unemployed held stable at 8,900, with 4.2% being fresh labour force entrants searching for their first job, down by 2.3 percentage points over the previous period. In comparison with February-April 2010, the unemployment rate and the underemployment rate dropped by 0.3 and 0.6 percentage point respectively; meanwhile, the labour force participation rate rose by 0.1 percentage point.
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Consumer Council has established the 'Code of Practice' for those souvenir retailers (specialty foods) that are under its 'Certified Shops' mechanism. Those 'Certified Shops' retailers are required to abide by the 'Code of Practice' to guarantee the image of 'Certified Shops' as honest retailers and provide good services to consumers. Consumer Council bears the responsibility to assist and encourage business and professional organizations to draw up regulations for regulating their members in light of Law No. 4/95/M. The Council issued general guidelines for 'Certified Shops' members in 2002, since then a total of 11 'Code of Practice' have been established for different retail industries in Macao; such 'Code of Practice' is also an important factor in the annual assessment of 'Certified Shops' members. The Council believes in the positive effect of the implementation of these codes to the development of consumer rights and a boost in Macao's tourism. The souvenir industry, especially specialty foods, is a very traditional and essential retail industry in Macao. In 2010, the average spending per tourist in Macao amounted to over MOP700, of which 24% were spent on specialty foods. There are now over 50 specialty foods retailers which are entitled to the 'Certified Shops' emblem. The Council establishes the 'Code of Practice' to enhance product and service quality of these retailers. This 'Code of Practice' requires specialty foods retailers to ensure the accuracy of their own measuring devices and hygienic conditions of their food premises, etc. The 'Code of Practice' for souvenir retailers (specialty foods) is supported by the Macao Pastry Specialty Association. Souvenir retailers (specialty foods) are called on to comply with this 'Code of Practice' for enhancement of the image of local souvenirs industry and the Code will also serve as an important factor in the annual 'Certified Shops' assessment. Leaflets of the 'Code of Practice' for souvenir retailers (specialty foods) are available to serve as guidance to consumers and tourists.
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A 'Consumer Rights Chinese Slogan Competition' held by Consumer Council is now open for entries. Interested parties may submit their works before 17th June 2011; five winning slogans will be chosen to be used in future consumer education work and winners will each be awarded MOP2,000 and a trophy. Consumer Council intends to strengthen its interaction and communication with the public by organizing various kinds of activities for its work on consumer education. The Council hopes the slogan competition held this time may help consumers recognize their rights and their concept of fair consumption values. Entrants of the 'Consumer Rights Chinese Slogan Competition' may submit their work of not more than 20 words about consumer rights in daily lives, or sustainable consumption, etc. Local citizens aged 18 or above are welcome to submit their works to Consumer Council by post, in person, or through email by 5.30pm, 17th June. Winners of the five winning slogans will each be awarded MOP2,000 and a trophy, other ten excellence award winners will each be awarded MOP200. Winning slogans will be used in future education work and activities of Consumer Council to promote consumer rights. Application form of this competition is available at the Council's offices and official website. Entrant's personal details and slogan must be filled in on the application form and each entrant can submit no more than 2 slogan works. Details of the competition are listed on the Council's website (www.consumer.gov.mo). For enquiries, please call 8988 9315.
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According to the statistics released today by the Monetary Authority of Macao, the proportion of international business in the local banking sector increased further in the first quarter of 2011. At end-March 2011, the share of international assets in total banking assets rose to 86.9% from 86.0% at end-2010, whereas the share of international liabilities in total banking liabilities went up to 79.7% from 78.7%. Foreign currencies remained as the dominant denomination in international banking transactions. At end-March 2011, the shares of Pataca (MOP) in total international assets and total international liabilities were 0.2% and 2.0% respectively. Hong Kong Dollar (HKD) and Other Foreign Currencies (OFCs) accounted for 42.0% and 57.7% of total international assets as well as 47.5% and 50.5% of total international liabilities respectively. International Banking Assets
At end-March 2011, total international assets increased by 8.9% from three months earlier or 36.0% year-on-year to MOP505.6 billion (USD63.0 billion). Within this total, external assets expanded by 34.5% from a year earlier to MOP392.2 billion while local assets in foreign currencies soared by 41.5% to MOP113.4 billion. As a major component of international assets, external loans & deposits jumped by 37.9% over a year earlier to MOP367.1 billion. Within this total, loans to overseas non-banks grew markedly by 28.4% from a quarter earlier or 39.4% from a year earlier. International Banking Liabilities
Meanwhile, total international liabilities expanded by 9.1% quarter-to-quarter or 34.5% from a year earlier to MOP463.8 billion (USD57.8 billion). Of this total, external liabilities and local liabilities in foreign currencies amounted to MOP252.2 billion and MOP211.5 billion in respective order. Compared with a year earlier, the former grew markedly by 43.6% while the latter increased by 25.1%. Foreign currency deposits held by residents in the local banking system formed a major component of international liabilities. This type of deposits grew by 20.6% to MOP194.9 billion at end-March 2011 from MOP161.6 billion a year earlier. Breakdown of External Banking Assets and Liabilities by Region
The majority of external assets and liabilities were related to the regions of Asia and Europe. At end-March 2011, claims on Hong Kong and Mainland China occupied respectively 37.5% and 16.6% of total external assets, while claims on Portugal took up 12.3%. On external liabilities, Hong Kong and Mainland China occupied 47.4% and 22.0% of the total respectively while France and Portugal took up respective shares of 7.3% and 6.9%. The compilation of International Banking Statistics follows the methodology advocated by the Bank for International Settlements in order to facilitate Macao SAR's participation in the "Locational International Banking Statistics" project of the international organisation.
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Since the law on "Prohibition of Providing Illegal Accommodation" took effect on August 13 2010, the Cross-departmental Working Team has sealed a total of 126 premises suspected to provide accommodation illegally. Four more operators are fined 200,000 patacas each. Inspections conducted by the Cross-departmental Working Team involved investigations to a total of 573 occupants of premises suspected to provide accommodation illegally, including 33 overstayers and 25 illegal immigrants, whose cases are being follow up by police authorities. Macau Government Tourist Office has waged a total of 126 sanctions and 23 operators who provided accommodation illegally were fined 200 000 patacas each according to the law on "Prohibition of Providing Illegal Accommodation". To date, two operators have voluntarily paid the fine of 200 000 patacas within the statutory period. For those who failed to pay the fine within the statutory period, MGTO has notified the Financial Services Bureau to enforce the collection of fine and informed PSP to deny reentry of the involved persons into Macau if they are non-residents. Since the law on "Prohibition of Providing Illegal Accommodation" took effect till May 26, 2011, MGTO has received 343 reports, involving 307 premises. MGTO is taking a serious view on every report by the citizens and after a series of evidence-findings and investigations, 157 premises were found to be normal residential units not used as illegal accommodation. Over 40 complaints were received since MGTO launched online report in April and 70% of which gave false information. MGTO appeals to the public to avoid abusing the complaint mechanism as not to waste public resources. The Cross-departmental Working Team will carry on its operation to crack down illegal accommodation. Staff of Macau Government Tourist Office (MGTO) continues to check the premises to ensure they remain sealed and supply of water and electricity suspended. MGTO stressed that damaging the seal and resuming supply of water and electricity is a criminal offence which will be submitted to judicial entity for follow up.
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