Macao, mainland ink new deal to further strengthen trade ties

MACAO, May 11 (Xinhua) -- The Chinese central government and the government
of the Macao Special Administrative Region (SAR) Monday signed a new deal based
on the existing trade agreements here, granting the SAR's service providers more
access to the mainland market.

The Supplement VI to the Mainland and Macao Closer Economic Partnership
Arrangement (CEPA6) was signed by Tam Pak Yuen, secretary for economy and
finance of the SAR government and the central government's Vice Minister of
Commerce Jiang Zengwei at a ceremony witnessed by the Macao SAR's Chief
Executive Ho Hau Wah.

Building on the liberalization of 18 services sectors, some 31 policy
measures will be introduced and one more sectors of research and development
will be opened by the mainland authorities to further facilitate market access
for Macao service providers and businessmen, according to the Supplement VI. As
a result, the total number of services sectors covered by the CEPA and its
supplements will be expanded to 41.

The new measures, which will take effect on October 1, 2009, mainly concern
industries such as tourism, MICE (Meeting, Incentive, Convention, Exhibition),
and medical services.

Under the Supplement VI, mainland travel agents authorized to operate group
tours to Taiwan can organize group tours for mainland residents to enter Macao
SAR in transit, which was aimed to help travel trade develop multi-destination
tourism packages.

As for the MICE industry, which is a prominent industry in the SAR's effort
to diversify its economy, service providers in the SAR will be allowed to
operate exhibitions through cross-border supply in major Chinese municipality,
such as Beijing, Tianjin and Chongqing, and provinces including Zhejing, Jiangsu
and Fujian, in addition to Guangdong province and Shanghai which has already
been opened to the SAR.

Meanwhile, Macao service providers and residents will also be allowed to
run health clinics and work as pharmacists respectively in the mainland, as long
as they acquire relevant licenses, according to the Supplement.

The CEPA between the mainland and the Macao SAR was firstly signed in 2003
and took effect in the following year, after which some six supplements to the
trade agreement have been signed so far, as a step-by-step effort to open the
mainland market to Macao. A similar trade agreement and supplements were also
signed between the central government and Hong Kong SAR.

Macao promotes tourism in HOEFEX 2009

MACAO, May 6 (Xinhua) -- A business delegation, headed by the Macao Special Administrative Region (SAR) government's tourism officials, attended an international service trade exhibition in Hong Kong Wednesday, in a bid to promote Macao's tourism.

For the purpose of promoting business tourism, MGTO established a booth in the 13th Asian International Exhibition of Food and Drink, Hotel, Restaurant and Food services Equipment, Supplies and Services (HOFEX 2009).

There were 38 members of Macao's "Industry Partners Program" displaying their promotional materials at this marketing platform, according to a press release from the MGTO.

MGTO also invited representatives of three major hospitality associations, namely, Macao Hotel Association, the United Association of Food and Beverage Merchants of Macao and Macao Chef Culinary Association to attend the opening ceremony of the HOFEX 2009 on Wednesday.

The four-day HOFEX 2009 is a biennial trade show that attracted more than 1,800 leading exhibitors including 41 national groups this year.

It is anticipated that more than 35,000 qualified buyers and industry players from around the world attend the show.

Macao's resident deposits down 0.6% in Feb.

Special Report:Global Financial Crisis

MACAO, April 29 (Xinhua) -- Macao's resident deposits edged down 0.6
percent in February from the previous month to 188 billion patacas (23.8 billion
U.S. dollars), according to figures released Wednesday by the Monetary Authority
of the Macao Special Administrative Region (SAR).

Of the resident deposits, pataca deposits, HK dollar deposits and other
foreign currency deposits fell in February at respective rates of 0.6 percent,
0.1 percent and 2.1 percent, compared with those of the previous month,
according to the figures.

Non-resident deposits and public sector deposits with the banking sector
rose 0.4 percent and 2.3 percent month-to-month.

The SAR's total deposits in the banking sector slid 0.2 percent from the
previous month to 273.6 billion patacas (35 billion dollars), of which the
shares of pataca and HK dollar were 22.7 percent and 44.8 percent respectively
in February, according to the Monetary Authority.

Meanwhile, domestic loans to the private sector grew 0.9 percent month on
month to 91.4 billion patacas (11.6 billion dollars) in February, of which, 67
billion patacas (8.5 billion dollars) were denominated in HK dollar,
representing 73.2 percent of the total.

External loans declined by 1.1 percent to 56.4 billion patacas (7.1 billion
dollars), of which, loans denominated in HK dollar accounted for 55.9 percent of
the total.

Due to the decline in resident deposits and increase in domestic loans to
the private sector, the SAR's loan-to-deposit ratio for the resident sector at
the end of February increased by 0.6 percentage points month on month to 45.4
percent, said the Authority.