News

The Cross-departmental Working Team continues with its operations to raid premises suspected to provide accommodation illegally and conduct inspections in the streets. During the operation today (Aug 21), 15 premises were checked. Since the law on “Prohibition of Providing Illegal Accommodation” took effect on August 13, a total of 234 premises were checked, of which 22 were normal residences, while 26 premises suspected to provide accommodation illegally were sealed with electricity and water supply cut. Ensuing investigations on the rest of the premises have been launched. Among the checked premises, some were vacant or unoccupied. MGTO and the police will continue investigation on unanswered doors which are suspected to be used to provide accommodation illegally. When necessary, MGTO can request a judicial order to enter into the suspect premises to investigate. To date, a total of 201 occupants were detained, including five operators, three touts, three persons who manage the premises that provide accommodation illegally (management staff) and one occupant who failed to fulfill her duty of cooperation. Among the occupants, there were five overstayers and one illegal immigrant.
In line with the newly implemented law, MGTO and Legal Affairs Bureau have launched various promotional and educational activities such as putting up posters at concerned districts and major checkpoints while deploying staff at Macau International Airport, Border Gate, Macau Ferry Terminal and Taipa Temporary Ferry Terminal to distribute leaflets and brochures. Public can also call 2833 3000 to report suspected premises.
MGTO and Legal Affairs Bureau remind travelers that, according to the law on “Prohibition of Providing Illegal Accommodation”, occupants found in premises suspected to provide accommodation illegally have the obligation to provide information or will be fined 3,000 patacas for violating the duty of cooperation. Occupants providing false information need to bear criminal responsibility. Non-residents who fail to pay the fine by due date will be denied reentry into Macau. Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. According to the new law, operators and person who manage the premise that provide accommodation illegally (management staff) incur a penalty up to 800 000 patacas, touts can be fined up to 100 000 patacas and occupants who fail to cooperate are fined 3 000 patacas.
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In the process of formulating and thoroughly implementing the currency exchange rate policy of Macao, the MSAR Government needs to safeguard the long term benefit of the general public, maintain stability of the financial system and prudently consider the benefits and woes inflicted on various economic sectors by the policy. According to the practical economic situation of Macao, the MSAR Government deems it undesirable to change existing exchange rate mechanism which has been proven effective. The Monetary Authority of Macao lately replied the written interpellation of the legislator, Mr. Au Kam San, regarding the existing monetary policy of Macao in the face of the rising RMB accompanied by prices increase. In the wake of 2010, the Macao economy started its recovery. The MSAR Government has noted the inflationary pressure triggered by the accelerated growth of the overall economy and understands the increasing worry of the general public in the face of inflation and the discussion on the currency exchange rate system arising therefrom. In scrutinizing our economic structure, there are a number of factors which cause inflation. These can be classified as external and internal. The former are price increases of imported goods, such as foodstuffs and fuels, which are affected by the exchange rate fluctuations between the local currency and currencies of exporting regions. The latter arise as under the lack of excess capacity, economic growth and strong aggregate demand drive up costs such as rises in rent, wages and service fees. According to analysis on consumer price index, inflation arising from external factors has been reflected in the prices of tradable products while the part related to internal factors has been reflected in the prices of non-tradable products. As a matter of fact, rise in prices of “non-tradable” has become the major component of inflation in Macao in the past few years. Inflation rates for 2007 and 2008 were 5.6% and 8.6% respectively, in which 1% and 3% respectively were attributed to rise in “tradable” prices. Our inflation rate fell precipitously by 1.2% in 2009 due mainly to the stable prices of “non-tradable”. Therefore, there is no obvious correlation between the exchange rate of the Pataca and inflation. The exchange rate index which gauges the strength of the Pataca has remained stable from the beginning of this year till now, while its exchange rate vis-a-vis the RMB has only slid by 1%. However, the strength of the exchange rate of a currency will have a multifaceted impact on an economic system. If foreign currencies rise against the Pataca, it will in one way or another enhance the competitiveness of the service exports of Macao. The tourism services industry is our economic pillar which has a locomotive effect on the development of the other local economic sectors which affects vastly the livelihood of our citizens. It is estimated that tourism related sectors account for over 50% of our employed population. The revenues contributed by service exports amount to over MOP140 billion every year. Furthermore if we peg the Pataca to the RMB, it may possibly trigger asset prices inflation. When international investors are generally expecting the RMB to be on a long term rising trend vis-a-vis other foreign currencies, if a mechanism is adopted to peg the Pataca to the RMB, international investors will look upon the Pataca to be a “proxy currency” for the yet to be freely convertible RMB. Huge amount of liquidity will flood the local market to take advantage of the Pataca denominated assets to be an indirect vehicle to speculate the potential appreciation of the RMB. In view of the fact that Macao at this stage is still devoid of effective financial investment channels, part of the idle funds will go into local property market. Given the size of the local property market, such new come funds will probably accelerate the overheating of the local property market and create asset bubble. High property prices will push up expenses related to dwelling, rent will be further pushed up which will be reflected in local “non-tradable” prices which will give rise to a new round of inflationary pressure. Macao has been an advocate of free trade policy for a long time. The Pataca is freely convertible in the absence of exchange control. If the Pataca is to hook up with a currency which is not freely convertible, apart from impairing the convertibility of the Pataca, it will pose grave technical problem in the management of our exchange reserves. According to international practice, exchange reserves can only be composed of assets denominated in freely convertible foreign currencies. At the same time, it is noted that Hong Kong Dollar deposits, valued at more than MOP110 billion equivalent, account for 55% of the total deposits of our residents. There is no obvious increase in the proportion of deposits denominated in other currencies. It reflects that, when comes to choice of freely convertible foreign currencies, our residents have a long term predilection for Hong Kong Dollars. Our top of that, over 60% of our bank loan portfolio is denominated in Hong Kong Dollars. All these have indicated that existing exchange rate system has been an important factor in maintaining the stability of our financial system. Based on the practical situation of Macao and objective data analysis, the MSAR Government does not deem the deviation from a policy to peg the Pataca to the Hong Kong Dollar is an indispensable measure to combat inflation. The existing policy has effectively protected the well being of the general public. On the other hand, the MSAR Government is putting the development of inflation under close surveillance, and is timely rolling out measures which will relieve pressure exerted on the livelihood of our citizens, such as the “Measures to Assist the Underprivileged to Alleviate Inflationary Pressure” administered by the Social Welfare Bureau in July this year. The scheme benefits more than 5,000 families which receive regular economic subsidy. Apart from subsidy for the month of July, they received an one-off additional sum which is equivalent to the two months’ subsidy. Moreover, three kinds of underprivileged families totalled more than 3,000 received in August an one-off payment equivalent to doubling the special subsidy under the “Special Living Subsidy Distribution Scheme Phase II”. Furthermore, there is an extension of short term food subsidy scheme. The beneficiaries are those who have not yet been eligible for comprehensive assistance of the Bureau. They include low income persons or families, unemployed, new arrivals (continuously living in Macao for less than 18 months), homeless, families which have suffered inadvertent traumas, person queuing up for economic assistance, and persons or families who are already receiving subsidies due to inadvertent suffering. They will receive short term food subsidies for up to 6 weeks, with a maximum period of up to 12 weeks in 12 months.
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The Cross-departmental Working Team checked 22 premises today (August 20). One premise suspected to provide accommodation illegally was sealed and three occupants were detained.
Since the law on “Prohibition of Providing Illegal Accommodation” took effect on August 13, a total of 216 premises were checked, of which 17 were normal residences, while 25 premises suspected to provide accommodation illegally were sealed with electricity and water supply cut. Ensuing investigations on the rest of the premises have been launched. Among the checked premises, some were vacant or unoccupied. MGTO and the police will continue investigation on unanswered doors which are suspected to be used to provide accommodation illegally. When necessary, MGTO can request a judicial order to enter into the suspect premises to investigate. To date, a total of 157 occupants were detained, including five operators, three touts, three persons who manage the premises that provide accommodation illegally (management staff) and one occupant who failed to fulfill her duty of cooperation. Among the occupants, there were five overstayers and one illegal immigrant.
In line with the newly implemented law, MGTO and Legal Affairs Bureau have launched various promotional and educational activities such as putting up posters at concerned districts and major checkpoints while deploying staff at Macau International Airport, Border Gate, Macau Ferry Terminal and Taipa Temporary Ferry Terminal to distribute leaflets and brochures. Public can also call 2833 3000 to report suspected premises.
MGTO and Legal Affairs Bureau remind travelers that, according to the law on “Prohibition of Providing Illegal Accommodation”, occupants found in premises suspected to provide accommodation illegally have the obligation to provide information or will be fined 3,000 patacas for violating the duty of cooperation. Occupants providing false information need to bear criminal responsibility. Non-residents who fail to pay the fine by due date will be denied reentry into Macau. Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. According to the new law, operators and person who manage the premise that provide accommodation illegally (management staff) incur a penalty up to 800 000 patacas, touts can be fined up to 100 000 patacas and occupants who fail to cooperate are fined 3 000 patacas.
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Information from the Statistics and Census Service indicated that the Composite CPI (104.61) for July 2010 increased by 2.96% year-on-year, attributable to the price increase of Food & Non-Alcoholic Beverages. Analyzed by section of goods and services, Clothing & Footwear (+6.98%); Transport (+6.16%); Recreation & Culture (+6.15%); Miscellaneous Goods & Services (+6.04%); Health (+5.26%); and Food & Non-Alcoholic Beverages (+4.58%) recorded notable increases on account of dearer prices of men’s and women’s clothing, gasoline, airfare, gold jewellery, fresh fish and seafood, and vegetables, as well as higher charges for outbound package tours, medical services and meals bought away from home. As for other sections, apart from the 9.81% decrease of the price index of Education, reduced charges for mobile phone services caused the price index of Communication to decrease by 3.52%. The CPI-A (104.06) and CPI-B (104.77) for July 2010 increased by 2.35% and 3.17% year-on-year respectively. The Composite CPI for July 2010 increased by 0.21% month-to-month, with the price index of Recreation & Culture rising by 2.61%, attributable to higher charges for outbound package tours; and recreational and cultural services during Summer Holidays. However, price index of Clothing & Footwear fell by 2.08% on account of lower prices of men’s and women’s clothing. The average Composite CPI for the first seven months of 2010 increased by 2.22% year-on-year. For the 12 months ended July 2010, the average Composite CPI rose by 1.2% from the preceding period. The 2008/2009-based Composite CPI reflects the impact of price changes on the general population. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP6,000 to MOP18,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP19,000 to MOP34,999.
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Celebrate the Mid-Autumn Festival Together Macao Post is pleased to jointly launch the Gift Fulfillment Service in Mainland, Hong Kong and Macau - Mid-Autumn Festival Gift Series with China Post and HongKong Post during 23rd of August to 12th of September. We have specially selected 27 kinds of moon cake gift sets for your choices this year. You can convey the warmest blessing to your overseas families, friends or business partners in this Mid-Autumn Festival by making your orders on or before 12th of September. Macao Post will deliver the gift to your beloved one before 22nd of September over Macao, Hong Kong and 2000 cities of China. To place your orders, please visit Macao Post website http://www.macaupost.gov.mo, Main Post Office or Branch Post Office. For enquiry, please feel free to contact our Gift Fulfillment Service hotline at 83968813 or email to reb@macaupost.gov.mo.
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In view of reports made by media of neighbouring region recently on banks releasing customer information for revenues, this Authority has contacted the regulator there and had an initial understanding with banks operating locally. We have been given to understand that such practice has not been applied to bank customers in Macao. This Authority will continue to pay close attention to the development of the incident and take follow-up action deemed appropriate in conjunction with the Office for Personal Data Protection.
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Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the second quarter of 2010 amounted to MOP 6.84 billion, up notably by 32% year-on-year. Retail sales of Watches, Clocks & Jewellery (MOP 1.64 billion) took the largest share of 24%, Goods in Department Stores (14%), Adults' Clothing (9%), Leather Goods (9%), Motor Vehicles (8%), Goods in Supermarkets (7%), Automotive Fuels (3%), Cosmetics & Sanitary Articles (3%) and Goods in Pharmacies (3%). In comparison with the revised figure (MOP 6.92 billion) for the first quarter, value of retail sales for the second quarter dropped by 1%, with marked decrease in retail sales of Communication Equipment (-17%) and Cosmetics & Sanitary Articles (-10%). In the first half year of 2010, total value of retail sales reached MOP 13.77 billion, up significantly by 35% year-on-year. In the second quarter of 2010, about 59% of the retailers reported decrease in the sales volume from the first quarter of 2010, up by 17 percentage points from those in the previous quarter; 41% reported that the sales volume remained stable or showed increase. In terms of retail prices, about 70% reported that the prices were stable, 12% claimed that the prices increased whereas 18% stated the prices decreased. Compared with the second quarter of 2009, about 72% expressed that the stock level was normal in the second quarter of 2010, while 19% indicated that the stock level was low. Regarding the business outlook for the third quarter of 2010, about 74% anticipate that the sales volume will increase or remain stable compared with the second quarter, while 26% expect a decrease. Meanwhile, about 84% predict that the retail prices will remain stable or increase whereas 16% expect a decrease. After removing the effect of price changes, volume of retail sales for the second quarter of 2010 rose by 25% year-on-year, with remarkable increase being observed in the sales volume of Motor Vehicles (+55%), Leather Goods (+52%), Adults' Clothing (+49%) and Goods in Department Stores (+36%). However, volume of retail sales registered a quarter-to-quarter decrease of 1%, with that of Communication Equipment and Cosmetics & Sanitary Articles falling by 16% and 11% respectively, while that of Motor Vehicles surging by 34%.
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The Cross-departmental Working Team checked 13 premises today (August 19). Two premises suspected to provide accommodation illegally were sealed and eight occupants were detained. Since the law on “Prohibition of Providing Illegal Accommodation” took effect on August 13, a total of 170 premises were checked, of which ten were normal residences, while 24 premises suspected to provide accommodation illegally were sealed with electricity and water supply cut. Among the checked premises, some were vacant or unoccupied. MGTO and the police will continue investigation on unanswered doors which are suspected to be used to provide accommodation illegally. When necessary, MGTO can request a judicial order to enter into the suspect premises to investigate. To date, a total of 133 occupants were detained, including five operators, three touts, three persons who manage the premises that provide accommodation illegally (management staff) and one occupant who failed to fulfill her duty of cooperation. Among the occupants, there were five overstayers and one illegal immigrant.
MGTO and Legal Affairs Bureau remind travelers that, according to the law on “Prohibition of Providing Illegal Accommodation”, occupants found in premises suspected to provide accommodation illegally have the obligation to provide information or will be fined 3,000 patacas for violating the duty of cooperation. Occupants providing false information need to bear criminal responsibility. Non-residents who fail to pay the fine by due date will be denied reentry into Macau. Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. According to the new law, operators and person who manage the premise that provide accommodation illegally (management staff) incur a penalty up to 800 000 patacas, touts can be fined up to 100 000 patacas and occupants who fail to cooperate are fined 3 000 patacas.
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The Statistics and Census Service (DSEC) released results of the Employment Survey for the second quarter of 2010, of which the principal indicators such as labour force participation rate (71.6%) and unemployment rate (2.8%) have been published in July. Total labour force was 326,000 in the second quarter of 2010, comprising 317,000 employed and 9,300 unemployed. Compared with the first quarter of 2010, total labour force registered an increase of 3,100, with number of the employed increasing by 3,300 but that of the unemployed decreasing by 200. Analyzed by industry, the majority of the employed were engaging in Recreational, Cultural, Gaming & Other Services (23.8%) and Hotels, Restaurants & Similar Activities (13.9%). In terms of occupation, most of the employed were Clerks (including casino dealers, floorpersons, betting service operators, etc.) and Service & Sales Workers, accounting for 26.1% and 22.8% respectively. Median monthly employment earnings of the employed decreased by MOP 500 from the previous quarter to MOP 8,500, while that of the local residents held stable at MOP10,000. Number of the underemployed totalled 6,200, with 77.2% engaging in Construction and 7.2% in Hotels, Restaurants & Similar Activities. In respect of the unemployed, 92.5% were searching for a new job and 7.5% were fresh labour force entrants searching for their first job. With regard to educational attainment, 34.0% had primary education or lower, 28.8% had junior secondary education and 25.6% had senior secondary education. For the unemployed that were searching for a new job, analyzed by industry previously engaged, 33.4% had worked in Construction and 17.3% in Recreational, Cultural, Gaming & Other Services. Analyzed by previous occupation, 26.0% were Craftsmen and similar workers and 22.4% were Clerks.
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The “Catalogue Show of Malaysian Products and Services, jointly organized by the Malaysian External Trade Development Corporation (MATRADE), Malaysian Industrial Development Authority (MIDA) and SME Service Centre of Macao Trade and Investment Promotion Institute (IPIM), will be held from 23 to 27 September 2010 at IPIM’s Macao Business Support Centre (Alameda Dr. Carlos d'Assumpçao No. 263, Edif. China Civil Plaza, 19 Andar, Macau). The Show is is the second time cooperation of the organizers since the debut Malaysian catalogue show held in September last year, at the same time the tenth catalogue show organized by IPIM since 2008. The Show features catalogues and product display: over 10 types of products and 50 types of catalogues from 29 companies will be showcased, including Halal food, pewter products, green houseware products, equipment for vehicles, MICE, airlines, gems, services, franchising opportunities, trade, investment and travel information, etc. According to statistics, bilateral trade between Malaysia and Macao has grown steadily. Imports from Malaysia amounted 442 million Macao Patacas in 2009. Until June this year, Macao main imports from Malaysia totals 236 million, a 10 million year-on-year increase compared with January to June 2009. These imports mainly comprise hard disk drives, air-conditioners, slot machines, televisions, electronic parts for computers, evaporated milk and biscuits, etc, indicating a persisting demand of Malaysian products. Moreover, A Malaysia business promotion seminar will be held at Macao Business Support Centre, at 3 pm, 24 August 2010. Besides presentation on trade and investment opportunities, three Malaysian companies will have their product presentation and meet with Macao enterprises during the business matching session and interested parties are cordially invited to sign up. The seminar will be conducted in English (with simultaneous interpretation in Cantonese). IPIM now cordially invites interested parties and local SMEs in search for partners or distribution rights from Malaysia to visit the Show and join the above activities. For detailed information about the Show, please contact Mr. Ho or Ms. Leong of Small and Medium Enterprise Service Centre (Tel: 28728212) or visit IPIM’s website www.ipim.gov.mo and Macao Trade and Invest Kiosk.
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