News

With the objective to promote Macau's business tourism industry and to capture the European market's attention to bring their events to Macau, a delegation of Macau trade representatives joined the Macau Business Tourism Centre of Macau Government Tourist Office to exhibit at the 9th worldwide exhibition for incentive travel, meetings & events (IMEX 2011) at Messe Frankfurt in Germany from 24th to 26th May. IMEX is one of Europe's most important congress and conference trade shows. Last year, IMEX 2010 successfully attracted 3,500 exhibitors from more than 157 countries, with over 3,800 hosted buyers from more than 60 world markets and 5,000 visitors from 90 countries attended the show. The organizer expected that participant numbers of IMEX 2011 would exceed its previous version. During the event, MGTO organized a "Macau Welcome Reception" at the Macau promotional booth on 25th May, which provided further opportunities to hosted buyers attending IMEX to network and to establish business contacts with Macau representatives apart from group appointments and individual pre-scheduled appointments. In addition, a fair number of visitors approached the Macau promotional booth for product updates and inquiry about organizing conferences, exhibitions and incentive events in Macau.
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Information from the Statistics and Census Service (DSEC) indicated that a total of 267 MICE (Meetings, Incentives, Conventions & Exhibitions) events were held in the first quarter of 2011, a decrease of 64 year-on-year; total number of participants and attendees increased by 42% year-on-year to 127,194. However, the average duration decreased by 0.4 day in the first quarter of 2010 to 2.1 days. A total of 10 exhibitions were held in the first quarter of 2011, with 99,154 attendees and an average duration of 2.5 days. Meanwhile, 257 meetings & conferences were held, bringing together 28,040 participants and the average duration was 2.1 days. As regards subject of MICE events, the majority focused on Commerce, Trade & Management (119), IT & Other Technology (42) and Travel & Tourism (24). Analyzed by type, most of the events were Corporate Meetings (174), Government Meetings (29) and Association Meetings (28). There were 214 MICE events held in hotels, comprising 206 meetings & conferences and 8 exhibitions. The average duration decreased from 3.1 days in the first quarter of 2010 to 2.4 days; number of participants and attendees totalled 121,900, with 80% being exhibition attendees. In addition, 53 MICE events were held in convention & exhibition centres and other conference venues; the average duration stood at 1.1 days, bringing in 5,294 participants and attendees. Starting from 2011, coverage of MICE statistics is expanded to include exhibition organizers and exhibitors. In the first quarter of 2011, data were collected from 8 exhibition organizers (80% of total); concurrently, systematic sampling method was adopted to collect data from 51 exhibitors. According to the information collected, the majority (63%) of the exhibition organizers were local enterprises and 25% were from Hong Kong. Moreover, 88% of the organizers had experience of organizing exhibitions in Macao. In the first quarter of 2011, total revenue of the exhibition organizers amounted to MOP2,100,142 and total expenditure was MOP3,200,077. In respect to the interviewed exhibitors, 49% were exhibitors from Hong Kong and 31% were local exhibitors. Besides, 55% of the exhibitors were first time participants in Macao. Total revenue of the exhibitors amounted to MOP3,136,320 that came mainly from sales of products (87%); total expenditure was MOP1,141,261, with rental for exhibition booth accounting for 74%.
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Representatives of Macao Special Administrative Region Government Consumer Council attended the 19th Consumers International (CI) World Congress. Representatives met with delegates from different countries and regions, including mainland China and Portuguese-speaking countries. The 19th CI World Congress was held in Hong Kong from 3rd May to 6th May. Representatives led by Consumer Council President of the General Committee, Mr. Vong Kok Seng, and President of the Executive Committee, Mr. Wong Hon Neng, attended the congress and met with delegates from over 60 countries and regions worldwide. 'Empowering Tomorrow's Consumers' is the theme of this congress. Leaders from international consumer associations, experts, and scholars from different fields delivered talks on consumer rights under the current global financial market, sustainable consumption and development, consumer rights in the digital world, and the importance of consumers' access to safe and healthy food, etc. Consumer associations from the cross-strait four regions met at the congress and exchanged ideas on future cooperation between each other, including information promulgation and solution to consumer disputes among the regions. Macao Consumer Council representatives also consulted with Direcção-Geral do Consumidor of Portugal and other consumer associations from Portuguese-speaking countries about the probable network of information among Portuguese-speaking regions. The Council stated that not only would its work on consumer rights and protection be enhanced, the international image of Macao would also be strengthened through the above-mentioned multilateral cooperation. CI World Congress is held every 4 to 5 years and the 19th Congress was held by Hong Kong Consumer Council. New policies on global consumer protection are laid out in each congress and a new president, and executive members are elected. CEO of America's Consumers Union, Mr. James Guest, was elected President at CI's General Assembly this time. CI was founded in 1960 and a non-profit organization with over 220 member organizations in over 100 countries. CI is currently building a powerful international movement to help protect and empower consumers everywhere. Macao Consumer Council became a full member of CI in 1997 and can exercise its right to vote on matters at the CI General Assembly and elect the CI President.
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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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