News

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 grew slightly in December. Total loans continued to rise while non-resident deposits grew at a fast pace. The loan-to-deposit ratio thus fell from a month ago. Money supply
Currency in circulation increased 1.6% whereas demand deposits decreased 5.0%. M1 thus dropped 4.0% compared with the previous month. Meanwhile, quasi-monetary liabilities went up by 1.1%. The sum of these two items, i.e. M2, grew slightly by 0.4% to MOP212.2 billion. On an annual basis, M1 and M2 rose 23.8% and 11.8% respectively. The share of Pataca (MOP) in M2 stood at 28.2%, up 0.1 percentage point over a month ago or down 0.3 percentage points from a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 53.6%, down 0.8 percentage points month-to-month and up 1.3 percentage points year-on-year. Deposits
Resident deposits rose slightly by 0.3% from the previous month to MOP207.2 billion. Of which, HKD deposits fell 1.2% but MOP deposits and other foreign currency deposits grew at respective rates of 0.6% and 4.5%. Concurrently, non-resident deposits grew notably by 12.8% to MOP83.2 billion while public sector deposits with the banking sector increased 22.3% to MOP16.3 billion due to treasury operations. As a result, total deposits with the banking sector expanded 4.5% from the previous month to MOP306.8 billion. The shares of MOP and HKD in total deposits were 22.1% and 46.4% respectively.
Loans
Domestic loans to the private sector expanded 2.1% month-to-month to MOP100.8 billion. Among which, MOP26.3 billion was MOP-denominated and MOP67.9 billion was denominated in HKD, representing 26.1% and 67.3% of the total respectively. Loans to “wholesale and retail trade”, “individuals for house purchases” and “manufacturing industries” increased quarter-to-quarter at respective rates of 14.2%, 11.3% and 8.4% whereas those to “non-monetary financial institutions” and “restaurants, hotels and related activities” dropped 15.9% and 5.2%. Meanwhile, external loans rose by 4.8% to MOP85.8 billion; of which, loans denominated in MOP and HKD accounted for 1.0% and 47.5% respectively of the total, at values of MOP0.9 billion and MOP40.8 billion. Loan-to-deposit ratios
As domestic loans to the private sector rose at a faster pace than resident deposits, the loan-to-deposit ratio for the resident sector at end-December 2009 increased slightly by 0.2 percentage points month-to-month to 45.1%. The ratio for both the resident and non-resident sectors stood at 60.8%, down 0.7 percentage points.
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Information from the Statistics and Census Service indicated that per-capita spending of visitors increased by 1% year-on-year to MOP 1,807 in the fourth quarter of 2009. Analysed by place of residence, per-capita spending of Mainland visitors took the lead, at MOP 3,563; per-capita spending of those from Southeast Asia; Taiwan, China; and Hong Kong amounted to MOP 1,814, MOP 1,606 and MOP 1,212 respectively. Compared with the fourth quarter of 2008, per-capita spending of tourists rose by 7% to MOP 2,659 and that of same-day visitors went up by 26% to MOP 631. In the fourth quarter of 2009, per-capita non-shopping spending (excluding gaming expenses) of visitors increased by 1% year-on-year to MOP 1,093, of which expenses on Accommodation and Food & Beverage accounted for 47% and 34% respectively. Meanwhile, per-capita shopping spending rose by 1% to MOP 714, with expenses on Local Food Products and Clothing sharing 28% and 22% respectively. Per-diem spending of visitors amounted to MOP 1,679 in the fourth quarter of 2009, a year-on-year increase of 8%. Mainland visitors had the highest per-diem spending of MOP 2,837 and the respective spending of visitors from Taiwan, China; Southeast Asia and Hong Kong was MOP 1,600, MOP 1,493 and MOP 1,209. The average length of stay of visitors held stable at 1.1 days, same as the fourth quarter of 2008, with Mainland visitors staying an average of 1.3 days. The average length of stay of both tourists and same-day visitors extended by 0.1 day to 1.7 days and 0.3 days respectively.
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In his Lunar New Year message today, the Chief Executive Mr Chui Sai On repeated his pledge to continue with efforts to enhance various areas of governance and to build Macao into a joyful home for the people. He said the Government would keep itself up to date with new trends of the society, learn more of the expectations of the people and strive for a sustainable future for Macao. But in these festive moments we must not forget those who were in need and share our joy and warmth with them, he said. Mr Chui also thanked civil servants and people who had to work over the holidays: he wished everyone a happy, healthy and prosperous new year.
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As a new year comes around and everything looks fresh and cheerful, Macau Government Tourist Office (MGTO) wishes all citizens and visitors good health and prosperity, and that the tourism industry of Macau would excel in diversification in the Year of the Tiger. MGTO and Civic and Municipal Affairs Bureau (IACM) join hands to organize celebratory activities on the first day of Lunar New Year (Feb 14) at the Ruins of St. Paul's and Senado Square to mark the spring festival and add a festive atmosphere to the city. The number of visitor arrivals to Macau has experienced substantial growth in past ten years, from 7.5 million in 1999 to over 21.7 million in 2009. The "Outline of the Plan for the Reform and Development of the Pearl River Delta" consolidates Macau's position as an international tourism and leisure destination and the SAR Government will advance with the objective of moderate economic diversification. MGTO has also been striving to showcase the unique multi-cultural characteristics through various tourism activities and products. Lunar New Year is an important festival in the Chinese society and also a peak season for visitors to experience the traditional celebrations in Macau. MGTO and IACM take this opportunity to express New Year greetings to the citizens and hospitality to the visitors. On the first morning of Lunar New Year, Director of MGTO João Manuel Costa Antunes, President of IACM, Raymond Tam, Deputy Directors of MGTO Helena Fernandes and Manuel Pires, joined by other guests, hosted the eye-dotting ceremony of the golden dragon and lions at the Ruins of St. Paul's and lit firecrackers at Senado Square to mark the celebrations. Guests and officials from MGTO, teamed up with the 12 Chinese zodiac animals, the God of Fortune and the Gods of Happiness, Prosperity, and Longevity, greeted the public and distributed "Lai Si" (red packets with lucky money) and souvenirs to residents and visitors. "Lai Si" distributed by the God of Fortune bestow good luck and fortune for the Year of the Tiger. The crowd also enjoyed lively performance by the folkloric art troupe from the Yunan province. During Lunar New Year, MGTO’s 24-hour "Tourism Hotline 2833 3000" will be attended by operators to strengthen the services for tourists' enquiries. MGTO advises the visitors to stay at hotels and guesthouses with license for a pleasant journey. The vibrant dragon and lion dances signal Macau to be as energetic and spirited as these noble creatures in the Year of the Tiger, and as Tiger shows the characteristics of intrepid and dignified, Macau people who boast these qualities and stand fast at their post would be promised with fruitful results. The Lunar New Year celebrations are held on the first and second day of the Lunar New Year. Details of the activities are available on the website of MGTO http://www.macautourism.gov.mo. In keeping with tradition, lucky "Lai Si" will be distributed at MGTO counters during Lunar New Year while stock lasts. Each packet contains a 10-cent coin as a symbol of MGTO's wishes for good luck and prosperity throughout the year. On Lunar New Year's Eve, MGTO staged a splendid fireworks display extravaganza set off from barges anchored in waters just off the Macau Tower to usher in the Year of the Tiger. Thousands of citizens and visitors gathered at the waterfront for the magnificent spectacle.
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Information from the Statistics and Census Service indicated that visitor arrivals in package tours decreased by 3.0% year-on-year to 486,382 in December 2009. Visitors from Japan (25,159) increased by 24.9%, while those from Mainland China (332,550); Hong Kong (25,931); and Taiwan, China (25,439) dropped by 4.0%, 20.3% and 31.4% respectively. For the whole year of 2009, visitor arrivals in package tours fell by 5.2% year-on-year to 4,648,186. In December 2009, the number of Macao residents travelling outbound in package tours rose by 11.2% year-on-year to 25,202, with Mainland China (73.3% of total) and Japan (7.6%) being the most popular tour itineraries. For 2009 as a whole, residents travelling outbound in package tours decreased by 10.0% year-on-year to 206,292. Meanwhile, outbound residents travelling under own arrangements using services of travel agencies totalled 45,648, up notably by 38.0% year-on-year; the main destinations were Mainland China (34.1% of total); Hong Kong (33.5%); and Taiwan, China (15.2%). For the whole year of 2009, outbound residents travelling under such arrangements rose by 23.1% year-on-year to 464,300. At the end of December 2009, total number of available guest rooms of the hotel sector increased by 1,726 (+9.9%) year-on-year to 19,216 rooms. A total of 697,469 guests checked into hotels and guest-houses in December 2009, up by 13.0% year-on-year, with the majority coming from Mainland China (47.9% of total) and Hong Kong (22.8%). The average hotel occupancy rate increased by 3.5 percentage points year-on-year to 82.4%, with 4-star hotels leading at 88.3%. The average length of stay of hotel guests increased by 0.1 night to 1.5 nights. For the whole year of 2009, total number of hotel guests increased by 2.7% to 6,714,413; the average hotel occupancy rate decreased by 2.9 percentage points from 2008 to 71.6%, while the average length of stay of hotel guests increased by 0.1 night to 1.5 nights. For the whole year of 2009, visitor-guests of hotels accounted for 61.5% of the total number of tourists, up from 58.4% in 2008.
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As a form of Chinese traditional culture, sky lanterns are set off by residents in inland China and Taiwan during festive seasons in ceremonies to pray for luck. Some commercial organizations have even applied the sky lanterns as an advertising channel. In the past, cases about Macao residents setting off sky lanterns in commemorative activities during festivals and holidays have been reported. Due to the fact that a sky lantern can go up to a few hundred metres or even above one kilometre high and is lit with fire, therefore causing threat to aviation safety, in order to ensure that the obstacle clearance environment for aircraft in Macao is protected, the Civil Aviation Authority of Macao SAR (AACM) appeals to the residents that they should not set off sky lanterns. In inland China, quite a number of fire accidents were caused by sky lantern activities. For this reason, many inland cities have amended the regulation that governs the fireworks and firecrackers to include sky lanterns in the scope of prohibition. To better enforce the regulation, the police often reinforce their inspection during festive seasons. Take Zhuhai as an example, to protect the properties and the safety of the residents from sky lantern activities which have become more frequent in recent years, the Zhuhai Government amended the regulation last year to prohibit the manufacture, operation and release of sky lanterns. AACM pointed out that as Macao and Zhuhai are neighbouring cities, the release of sky lanterns in Zhuhai in windy conditions can cause threat to the aircraft in Macao at landings, take-offs and during flight. The amendment of the respective regulation by the Zhuhai Government therefore helps to further enhance aviation safety in both places. In accordance with the present aviation regulations in Macao, Article 6 of Portaria No. 233/95/M of 14 August governs that no one is allowed to release projectiles or objects into the air that can endanger aviation safety including fireworks, in the restricted area surrounding Macau International Airport, without prior permission from AACM. Apart from fireworks, balloons, kites, sky lanterns and so on are within this scope of prohibition. For the purpose of further enhancing aviation safety in Macao, AACM is now studying into the amendment of the regulation to strengthen the scope of prohibition.
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Since the initialing of the bilateral Air Services Agreement between the Civil Aviation Authority of Macao SAR (AACM) and the Ministry of Foreign Affairs, Japan (MOFA), in 2009, the legal framework for the operation of scheduled air services between the two places has been established. The signing ceremony of the Agreement was held on 10 February 2010 in Macao following the recent completion of the internal legal procedures for the signing by the two Governments. The ceremony witnessed the first air pact to be officially signed after the establishment of the new SAR Government. The signing ceremony was held at 11:00am in the Multi-Function Room of the Government Headquarter, which was presided by the Chief Executive, Dr. Fernando Chui, as the Guest of Honour. The signatories were the Secretary for Transport and Public Works, Mr. Lau Si Io and the Consul-General of Japan, Ambassador Shigekazu Sato. To establish the legal framework for the operation of scheduled services, AACM and MOFA held air consultations in Tokyo last year in which both sides reached consensus on the provisions and initialed the bilateral Air Services Agreement. In accordance with the Agreement and the present Record of Discussions (ROD) between Macao and Japan, both parties can designate more than one airline; the designated airlines of both parties can fly to all points in each side; no restrictions are imposed on the capacity, except that the Macao designated airlines face capacity limitations on the Tokyo route. Commencing 28 March this year, Air Macau will operate 3 weekly scheduled flights between Macao and Tokyo (Narita Airport). The operation of scheduled air services between Macao and Japan started in 2006. While joining the delegation of the SAR Government, Air Macau and the tourism industry to Japan in that year, AACM held informal consultations with the Ministry of Land, Infrastructure, Transport and Tourism, Japan (MLIT) and signed an ROD in which both parties agreed to allow their designated airlines to operate 3 flights a week between the two places. But the point granted to the designated airline of Macao was limited to Osaka only. In 2008, both parties met in Macao for talks on liberalizing the provisions. The airlines of both sides were then allowed to operate scheduled services between Macao and all points of Japan with no limitation on capacity; but for Tokyo, the airlines of Macao do not have the scheduled services right but are only permitted for charter operations. In 2009, AACM and MLIT met again in Japan for a new round of discussions of further enhancing the air transport market between the two sides. In the meeting, AACM pointed out that Tokyo is a famous tourist destination for Macao as well as for the entire Pearl River Delta Region. The demand for the air transport market between Tokyo and the Region is great. It is therefore essential to realize scheduled flights between Macao and Tokyo to further expand the market. The discussions were concluded with the signing of the present ROD. Presently, Air Macau operates a daily flight between Macao and Osaka; Viva Macau flies to Tokyo with 4 weekly frequencies. Apart from these two points, in order to meet the demand for air services between the two sides during festive seasons, the two airlines have flown to other Japanese cities such as Sapporo, Kita Kyushu, Fukui, Kogoshima, Miyazaki, Fukushima, Toyama, Okinawa and so on with charter operations. In accordance with the data of the Statistical and Census Bureau, the number of Japanese tourists to Macao increased from 122,184 in 2004 to 379,241 in 2009, with an average increase of 30% year on year. Japan ranked the fourth position in the inbound tourist market in Macao. Despite the global financial crisis resulting from the economic tsunami in 2008, the number of Japanese tourists to Macao still reported a remarkable growth. Among the Japanese tourists to Macao, only less than 10% came to Macao by direct air link. Both sides foresee a big potential in exploring the air transport market between the two places. Other guests attending the signing ceremony were the Commissioner of the Ministry of Foreign Affairs of the Central People’s Government in Macao SAR, Mr. Lu ShuMin, Chief of the Cabinet of the Chief Executive, Mr. Tam Chon Weng, representatives of the Japanese Consulate in Hong Kong and the Macao aviation industry.
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On 9 February 2010, the University of Macau Development Foundation (UMDF) received from Wu Yee Sun Charitable Foundation Ltd a donation of HK$150 million, the largest single benefaction since UMDF’s inception in December last year. In recognition of this magnificent contribution, with endorsement of the Chief Executive of the Macao SAR and University Chancellor Dr. Chui Sai On and the University Council, the central library on the University’s new campus will be named after Dr. Wu Yee Sun. In the cheque presentation ceremony held at the Government headquarters, Dr. Chui Sai On received the donation from the director of the charitable foundation Mr. Lui Pui Ying on behalf of UMDF. Dr. Chui Sai On expressed his appreciation for the donor’s commitment to higher education in Macao. He said that as a higher education institution, UM has an important role to play in the community. On 20 December 2009, President Hu Jintao officiated at the groundbreaking ceremony of UM’s new campus, which demonstrated the support of the Central Government for UM. With the dedicated effort of both the central authorities and local community, the University has embarked on a new era of development. Present at the ceremony were Dr. Michael Wu Po Ko and Mr. Norman Wu Po Kung, directors of Wu Yee Sun Charitable Foundation, Mr. Arthur Wu and Mr. Samuel Wu, members of the Wu family, Dr. Tse Chi Wai, Mr. Wong Chong Fat and Mr. Lam Kam Seng, founding members of UMDF, Mr. Lei Pui Lam, University Council First-Vice-Chair, Prof. Wei Zhao, UM Rector and Dr. Lai Iat Long, UM Vice Rector. Following the ceremony, Dr. Chui Sai On offered a lunch to thank Wu Yee Sun Charitable Foundation for its generous offering. Established in 1982, Wu Yee Sun Charitable Foundation Ltd has been dedicated to philanthropic causes. This donation was made in memory of Dr. Wu Yee Sun, who had carried out business in Macao. Through this donation, Wu Yee Sun Charitable Foundation wishes to contribute to higher education and nurturing of talents in Macao. UMDF is a non-profit organization, aiming to support the University of Macau to attain its academic goals and improve its competiveness. Since its establishment, it has attracted enormous attention and support from community leaders and alumni. The library bearing the name of Dr. Wu Yee Sun will be a landmark on UM’s new site on Hengqin Island. The groundbreaking ceremony of the new campus was presided over by the President of the People’s Republic of China Mr. Hu Jintao on 20 December 2009 and the construction is expected to be completed within 3 years’ time.
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Macau Government Tourist Office showcased Macau’s splendour at the India Outbound Travel Market (OTM), India's leading travel show, held in Mumbai and New Delhi. MGTO, joined by representatives from tour operators, travel agents and hotels, took part in OTM held in Mumbai from February 6 to 8 before the travel fair continues in New Delhi from February 11 to 13. OTM is attended by a well-balanced mix of the travel trade, corporate and business travel decision makers, leisure and holiday travellers. OTM has been a platform for Macau to highlight its charms to the Indian traveller in the past, and MGTO plans to leverage the travel mart more forcefully along with the travel trade. The booth of Macau in Mumbai was attended by crowds of visitors who showed great interest in Macau’s tourism products. Dazzled by the upward trajectory of growth in Indian visitor arrivals, with 107,513 Indian visitors travelled to Macau in 2009, a 30.5% increase compared to 2008, major players like The Venetian Macau-Resort Hotel, City of Dreams, China Travel Service make their presence felt at the OTM this year. Indeed the travel fair is a great opportunity for the Indian travel trade to ink hotel deals etc and sell Macau more aggressively than before.
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Information from the Statistics and Census Service (DSEC) indicated that a total 674 new companies were incorporated in the fourth quarter of 2009, up by 24.1% year-on-year; the total value of registered capital rose notably by 76.8% to MOP140 million, as the registered capital of new incorporations of the Financial Services recorded a 90-fold increase (MOP53 million). In the fourth quarter of 2009, number of companies in dissolution totalled 123 and the value of registered capital amounted to MOP22 million, of which 33 engaged in Wholesale & Retail trade. For the whole year of 2009, number of new incorporations (2,529) and the value of registered capital (MOP340 million) decreased by 7.6% and 17.6% respectively over 2008. The majority of the new companies were operating in Wholesale & Retail (955), Business Services (440) and Construction (317). Capital from Macao totalled MOP166 million, down by 27.7% over 2008, those from Mainland China and Hong Kong amounted to MOP60 million and MOP42 million respectively; furthermore, capital from Guangdong Province (MOP26 million) took the lead among the Pan-Pearl River Delta provinces. For the whole year of 2009, new incorporations with registered capital under MOP50,000 totalled 1,699 (67.2% of the total) and the value of capital (MOP44 million) made up merely 13.1% of the total. Meanwhile, there were 57 companies incorporated with registered capital MOP1,000,000 or over and the value of capital (MOP199 million) accounted for 58.5% of the total. In addition, more than 80% of the new incorporations were limited companies. Analyzed by place of residence of the shareholders, a total of 1,533 new incorporations were established solely by Macao shareholders, 336 were joint ventures between shareholders from Macao and other countries or regions, 660 were incorporated by shareholders from countries or regions other than Macao. For the whole year of 2009, there were 469 companies in dissolution and the value of capital amounted to MOP1.99 billion, up by 4.9% and 2.8 times respectively over 2008, in which the value of registered capital of Real Estate companies in dissolution accounted for MOP1.91 billion.
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