Economy

MSAR, Jiangsu to establish co-operation park in Changzhou

The two governments will soon start planning for the park by recruiting a third-party consultant firm

The MSAR Government is to build a co-operation park with Jiangsu Province, for which a memorandum of understanding (MOU was signed last Friday, and which Secretary for Economy and Finance Lionel Leong

City’s forex reserves expand in September

The city’s foreign exchange reserves totalled MOP155 billion (US$19.4 billion) as at the end of September, a year-on-year increase of 6.7 per cent compared to MOP143.3 billion one year ago, a prelimin

Budget Framework Law Inching Ahead

Proposed amendments to the city’s budget framework law have initially been nodded through by the Legislative Assembly.

With a final vote of 23 in favour, with two against and one abstaining, the bill amending the current budget framework law was passed in principle and now moves on to be debated article by article.

Show me the money

The city’s fiscal surplus dropped 33.1 per cent year-on-year in the first nine months of the year, while total public expenses went up 2.9 per cent

The city’s fiscal surplus between January and September fell by 33.1 per cent year-on-year, down to MOP21.4 billion (US$2.7 billion), while the gaming sector remains the MSAR’s main source of revenue,

RMB clearing centre

Academics from the city’s financial institutions agree. The implications of Macau becoming a centre for RMB clearing are intoxicating.

The city’s academics agree that establishing a renminbi (RMB) clearing centre in the MSAR would bring many benefits to the city’s financial industry.

Triple win situation

The Secretary for Economy and Finance reckons the city’s role as a Sino-Luso platform will benefit Macau’s economy by diversifying as well as sustaining the city’s long-term development

The Secretary for Economy and Finance, Lionel Leong Vai Tac, believes that the 19 MSAR-favouring measures as announced by Premier Li Keqiang would aid the city to participate in the strategic developm

Money supply continues to expand in August

The banking sector saw a month-on-month drop in the overall loan-to-deposit ratio during the month.

Macau’s money supply continued to increase in August, reveals the latest data released yesterday by the Monetary Authority of Macao (AMCM).

IMF Upgrades Economic Prospects

A 4.7 pct contraction. So says the International Monetary Fund regarding the MSAR economy. More positive than the 7.2 pct drop it forecast in April for the year.

The International Monetary Fund has forecast that Macau’s Gross Domestic Product will contract by 4.7 per cent year-on-year for 2016 but rebound to 0.2 per cent growth in 2017.

City’s fiscal surplus plunges 38.4 pct as at end-August

The total revenue of the city declined 13 pct y-o-y whilst total expenditure increased nearly 4 pct.

The city’s fiscal surplus plunged 38.4 per cent year-on-year to MOP17.9 billion (US$2.2 billion) between January and August due to falling government revenues for the period, the latest update on the

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