News

Due to the maintenance work, the open-air café (esplanade) of the Maritime Museum will be temporarily closed from 12 December 2011. The reopening will be announced shortly. Nevertheless, the Museum will be open as usual, daily from 10:00-18:00 (closed on Tuesdays).
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The opening ceremony of Infection, Industria and Upsych – Contemporary Photography Exhibition took place on Friday, the 9th of December at 6:30pm in Tap Seac Gallery. The exhibition features three series of photographic works – 'Infection', 'Industria' and 'Upsych' – by Václav Jirásek, one of the most highly acclaimed contemporary photographers of the Czech Republic, whose works vividly document the beautiful aspects of everyday life. Ambassador of the Embassy of the Czech Republic, Mr. Libor Secka,Consul General of the Czech Republic in Hong Kong, Mr. Jaroslav Kanturek,Deputy Director-General of Functions of Policy Research Department of Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macau S.A.R., Ms. Han Xiaoyan,President of the Macao Cultural Affairs Bureau, Mr. Ung Vai Meng,Committee Member of the Cultural Consultative Committee, Mr. Lai Wing Chiu，These were the officiating guests of the opening ceremony. Active in international photography exhibitions, he studied at the Secondary School of Applied Art in Brno before furthering his studies in painting at the Prague Academy of Fine Arts. Between 1989 and 1994, Jirásek was one of the founding members of Bratrstvo, an art group dedicated to painting, photography and music. Since 1994, Jirásek has dedicated his energies to creative photography. The themes of the series of works on display convey the artist's contemplation of the world's visual images from different perspectives. In expressing the essence of the photographed subjects, Jirásek seeks to engage audiences in his profoundly creative photographic works by presenting a contrast between meticulously arranged scenes and their real contexts. Jointly organised by the Cultural Affairs Bureau of the Macao S.A.R. Government and the Embassy of the Czech Republic in Beijing, the exhibition is co-organised by the Consulate General of the Czech Republic in Hong Kong. It is hoped that this collaboration will serve to promote exchanges between artists from different regions. The exhibition is one of the cultural events organised by the Embassyart under the Embassy of the Czech Republic in Beijing from 2010 to 2013, with the purpose of building a bridge of culture and friendship between the Czech Republic and China, and promoting a dialogue between the people of these two countries. The exhibition will be held until the of 19th February, 2012, everyday, from 10:00am to 7:00pm. Admission is free.Residents are welcome to experience and appreciate the joy of this unique artistic journey.
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According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money resumed its growth in October. As total deposits grew much faster than total loans, the overall loan-to-deposit ratio continued to fall.
Money supply
Currency in circulation and demand deposits grew 1.4% and 2.2% respectively. M1 thus increased 2.1% from one month earlier. Concurrently, quasi-monetary liabilities rose 5.4%, pushing M2 to grow 5.0% to MOP292.1 billion. On an annual basis, M1 and M2 rose 14.9% and 19.5% respectively. The share of Pataca (MOP) in M2 stood at 25.0%, down 0.5 percentage points over a month ago and 2.5 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 52.4%, down 0.7 percentage points month-to-month and 3.4 percentage points year-on-year.
Deposits
Resident deposits increased 5.1% from the previous month to MOP286.2 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits grew at respective rates of 3.0%, 3.6% and 11.0%. In the meantime, non-resident deposits rose 1.7% to MOP96.3 billion and public sector deposits with the banking sector also increased 5.7% to MOP25.6 billion. As a result, total deposits with the banking sector grew 4.3% from a month earlier to MOP408.1 billion. The shares of MOP and HKD in total deposits were 21.0% and 43.6% respectively.
Loans
Domestic loans to the private sector edged up 0.1% on a monthly basis to MOP165.1 billion. Among which, MOP41.3 billion was MOP-denominated and MOP109.2 billion was denominated in HKD, representing 25.0% and 66.2% of the total respectively. On the other hand, external loans rose 0.4% to MOP148.3 billion, of which loans denominated in MOP and HKD accounted for 0.2% (MOP0.4 billion) and 33.0% (MOP49.0 billion) respectively.
Loan-to-deposit ratios
As resident deposits grew much faster than domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-October 2011 dropped 2.7 percentage points month-to-month to 53.0%. The ratio for both the resident and non-resident sectors was 76.8%, down by 3.1 percentage points from the previous month. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
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The International Tourism Research Centre (ITRC) of the Institute for Tourism Studies (IFT), together with Oxford Brookes University, UK held a seminar on 2 December at IFT, Macao campus on "Successful Franchise Partnerships: Partner Selection and Relationship Development". The seminar, attended by about 30 delegates from the hospitality and retail industries and government officials, was the culmination of a two-year research collaboration between ITRC and Oxford Brookes University on identifying the key factors in stimulating and maintaining successful international franchise partnerships. The research also sought to identify problems and difficulties faced by local SMEs in Macao in terms of expanding their economic and commercial operating advantages. Franchising is an important form for expanding economic activity and participation especially toward the goal of diversification and wealth distribution. During the seminar, the research team comprised of Prof. Levent Altinay and Dr. Maureen Brookes from Oxford Brookes University and Dr. Ruth Yeung from IFT, pointed out that it is important to understand the mutual expectations between the franchise partners with the goal to protect the brand image and ensure the product quality as well as to maintain the standardisation of the product with minimal adaption due to cultural difference. Dr. Maureen Brookes also commented that to ensure the sustainability of their business, potential franchisees have to put more effort on research which includes the acceptance level of the franchise brand among the customers in Macao; the potential growth of the market; and the background of the franchisor as well as their plan for future development. Dr. Ruth Yeung of IFT suggested that there are plentiful business opportunities given the growth of tourism in Macao. Products marketed to local residents should include innovative ingredients while tourists, in particular those who come from Mainland China, often look for high quality and good value products. Macao franchisors can develop further by following a well designed franchise model which provides a standard operating procedure, emergency plan and human resource management. Finally, SMEs also require government support to overcome the challenge of the shortage of human / financial resources and the complication of brand registration for future business success.
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On the occasion of the European Incentive & Business Travel & Meetings Exhibition (EIBTM 2011) held in Barcelona between 29 Nov to 1 Dec, the Macau Government Tourist Office (MGTO), together with 3 representatives of event organizers, destination management companies (DMCs) and hotel from Macau, promoted the home city and its recent MICE development to the tradeshow participants. Held at Barcelona's Fira Gran Via exhibition venue this year, the European Incentive & Business Travel & Meetings Exhibition is one of the leading global events for the meetings and incentive industry held in Europe annually. There were over 14,000 professionals, from over 90 countries; including 3,800 hosted buyers and 3,100 exhibitors. MGTO received 21 hosted buyer appointments and conducted 7 destination presentations. By exhibiting at the EIBTM 2011, it did not only help promote Macau's new MICE products, but also increased its exposure in the European market as well as strengthening its image as a premier MICE destination of Asia. During the three day event, the Meeting Planners Guide and Macau Incentive Guide were given out at the MGTO promotion booth, drawing lots of potential suppliers' and buyers' attention and requests for more information about having their events held in Macau.
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The Monetary Authority of Macao (AMCM) is pleased to advise that on 2 November 2011 the International Association of Insurance Supervisors (IAIS) endorsed the accession of AMCM to the Multilateral Memorandum of Understanding (MMOU), which governs the basic cooperation requirements relating to the exchange of confidential information and the assurance that such information will only be deployed in the process of supervision. The MMOU of the IAIS and the other similar agreements concluded between the signatories who are financial entities have arisen from a motion of the Financial Stability Board (FSB) established under the auspices of the G20. The formulation of all the agreements is one of the core working objectives laid down by the FSB with a view to enhancing mutual coordination and cooperation in the realm of supervision in response to the global financial crisis. AMCM is the 20th signatory of the MMOU as accepted by the IAIS. The IAIS was founded in 1994. Its members come from 140 countries covering over 190 jurisdictions. The prime objective of the organization is to promote cooperation among all its member supervisors with a view to exchanging information, collecting and disseminating statistical data and other technical materials.
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Owing to the strike action taken by customs workers in Uruguay, Macao Post announced that mail delivery (including Correspondence, Printed Matters, Small Packet and Parcel) from Macao to Uruguay are subject to delay until further notice. Thank you for your kind attention.
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Owing to strike action taken by customs workers in El Salvador, Macao Post announced that mail delivery services (including Correspondence, Printed Matters, Small Packet and Parcel) from Macao to El Salvador are subject to delay until further notice. Thank you for your kind attention.
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Owing to flooding in New South Wales, Macao Post announced that all mail delivery services (including Correspondence, Printed Matters, Small Packet, Parcel and EMS) from Macao to areas bearing the following postal codes are subject to delay until further notice. Postal Code 2266 – 2338, 2339 – 2412, 2413 – 2430, 2431 – 2459, 2591 – 2639 Thank you for your kind attention.
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The distribution work of 2011 Cash Subsidy has basically finished on 11 November this year. A total amount of MOP 1,809,099,600.00 has been handed out to beneficiaries in the course of its implementation. 511,840 crossed cheques have been mailed, which summed up to MOP$ 1,444,657,200, and until the present time, 439,287 cheques were withdrawn, representing 85.8% of the total number of cheques. A Support Centre for Cash Subsidy entered into service on 30 August to cater for enquiries and deal with procedures related to the cash disbursement. As of 2 December, some 19,383 enquiries have been handled, with the majority of which being personal visits, summing up to 14,242 enquiries, around 73.5% of the total. The second most popular channel was telephone enquiry, which stands for 25.8% or 5,010 enquiries. Personal visits to the Centre were mainly for re-issuance of cheques, which totaled 5,392 cases, whereas 953 came for the purpose of alteration of address. The Support Centre operated till 2 December, and from 5 December onward; residents can go to the Service Centre of Civil and Municipal Affairs Bureau located in Avenida da Grande Praia, China Plaza, 2/F for assistance regarding procedures associated with the Cash Subsidy. The opening hours of this Service Centre are from 9am to 6pm straight, Monday to Friday, except public holidays. Telephone enquiries are available at 8795 2675 and 8795 2676. The service hotline 2822 5000, fax 2822 3000 as well as the official website of Cash Subsidy http://www.ap.gov.mo will be retained to provide relevant information.
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