![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/09/Keith-Morrison_cmyk.jpg\")
![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2017/08/population-150x150.jpg\")
\nMacau Business | June 2024
\n\n\n\nKeith Morrison \u2013 Author and educationist
\n\n\n\nLike many other parts of the world, Macau is experiencing a population change. It is common knowledge that Macau\u2019s population is living longer. In 2013, the proportion of its population aged 65 and above was 8.4 per cent; in 2023 it was 14 per cent, projected to rise to 23.3 per cent in 2034. Further, the number of people in the 25 to 34 age group, i.e. those who might have children, whilst they comprised 16.7 per cent of the population in 2023, is projected to fall to 10.2 per cent in 2034. As graph 1 shows, in the last ten years Macau\u2019s population aged 65 and above grew dramatically, by 85 per cent (rounded), whilst the number of live births fell by half (49.57 per cent) (see graph 2). The younger population (aged 0-4 years) is projected to fall from 4.3 per cent in 2023 to 3.4 per cent in 2034.
\n\n\n\nThe ramifications of these simple figures are already engaging Macau\u2019s government, for example, building accommodation for the increasing elderly population in Macau. Nevertheless, more can be done for elderly health services. Why are there daily queues of elderly patients waiting for treatment in Macau\u2019s hospitals and health centres? What is being done to augment the massively over-stretched and under-provided mental health provision and services in Macau, to promote well-being, and, indeed, not only for the elderly but for all age groups? Despite recent building programmes, there are still insufficient homes for the elderly providing a decent, stimulating, and caring environment, together with a high quality of life rather than endurance and suffering in a socially withering, boring environment.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/02/dx_www-W6MGOy0QRjs-unsplash.jpg\")
We hear many, many stories of young adults of child-rearing age in Macau deciding not to have children. It is little surprise that the birth rate is falling in Macau. Why is this? What incentives and provisions are there for bringing children into the world in Macau? Can young Macau couples afford to have children? In other parts of the world, financial help from the government for all parents bringing up children lasts until the children are 18 years of age, regardless of parents\u2019 income, i.e. equality for all. Not so in Macau. This raises an ongoing and massive agenda, regarding affordable accommodation, job security, and sufficient income to raise children, to give them a reasonable, enjoyable childhood and subsequent adulthood. These point to the need for considerable investment in improving health care, education, providing for children, social welfare, ensuring their well-being and a positive and stimulating environment for bringing up children with their families, not only giving individual handouts; it is a system-level as well as an individual-level support matter. No wonder, perhaps, that fewer people in Macau have babies.
\n\n\n\nIt is difficult to reconcile Macau\u2019s huge GDP and steps taken to further its \u2018gold business card\u2019, with the need for all its population, young and old, to have a better quality of life. Where is Macau\u2019s government providing sufficient all-round care and support for the elderly and child rearing in Macau? Only with having all these available and accessible services and support will the elderly be able to look forward to retirement without apprehension, fear, and despair, and will the younger, child-bearing population be able to afford to have children and give them a decent life. This places societal welfare at the top of a government agenda, not simply the amassing of wealth, flourishing business, and putting crowded streets of tourists at the topic of the \u2018to do\u2019 list.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/%E5%B1%8F%E5%B9%95%E6%88%AA%E5%9B%BE-2024-07-20-153216.png\")
Source: DSEC (latest annual data)
\n", "content_text": "Macau Business | June 2024\n\n\n\nKeith Morrison \u2013 Author and educationist\n\n\n\n\n\n\n\nLike many other parts of the world, Macau is experiencing a population change. It is common knowledge that Macau\u2019s population is living longer. In 2013, the proportion of its population aged 65 and above was 8.4 per cent; in 2023 it was 14 per cent, projected to rise to 23.3 per cent in 2034. Further, the number of people in the 25 to 34 age group, i.e. those who might have children, whilst they comprised 16.7 per cent of the population in 2023, is projected to fall to 10.2 per cent in 2034. As graph 1 shows, in the last ten years Macau\u2019s population aged 65 and above grew dramatically, by 85 per cent (rounded), whilst the number of live births fell by half (49.57 per cent) (see graph 2). The younger population (aged 0-4 years) is projected to fall from 4.3 per cent in 2023 to 3.4 per cent in 2034.\n\n\n\nThe ramifications of these simple figures are already engaging Macau\u2019s government, for example, building accommodation for the increasing elderly population in Macau. Nevertheless, more can be done for elderly health services. Why are there daily queues of elderly patients waiting for treatment in Macau\u2019s hospitals and health centres? What is being done to augment the massively over-stretched and under-provided mental health provision and services in Macau, to promote well-being, and, indeed, not only for the elderly but for all age groups? Despite recent building programmes, there are still insufficient homes for the elderly providing a decent, stimulating, and caring environment, together with a high quality of life rather than endurance and suffering in a socially withering, boring environment. \n\n\n\n\n\n\n\nWe hear many, many stories of young adults of child-rearing age in Macau deciding not to have children. It is little surprise that the birth rate is falling in Macau. Why is this? What incentives and provisions are there for bringing children into the world in Macau? Can young Macau couples afford to have children? In other parts of the world, financial help from the government for all parents bringing up children lasts until the children are 18 years of age, regardless of parents\u2019 income, i.e. equality for all. Not so in Macau. This raises an ongoing and massive agenda, regarding affordable accommodation, job security, and sufficient income to raise children, to give them a reasonable, enjoyable childhood and subsequent adulthood. These point to the need for considerable investment in improving health care, education, providing for children, social welfare, ensuring their well-being and a positive and stimulating environment for bringing up children with their families, not only giving individual handouts; it is a system-level as well as an individual-level support matter. No wonder, perhaps, that fewer people in Macau have babies.\n\n\n\nIt is difficult to reconcile Macau\u2019s huge GDP and steps taken to further its \u2018gold business card\u2019, with the need for all its population, young and old, to have a better quality of life. Where is Macau\u2019s government providing sufficient all-round care and support for the elderly and child rearing in Macau? Only with having all these available and accessible services and support will the elderly be able to look forward to retirement without apprehension, fear, and despair, and will the younger, child-bearing population be able to afford to have children and give them a decent life. This places societal welfare at the top of a government agenda, not simply the amassing of wealth, flourishing business, and putting crowded streets of tourists at the topic of the \u2018to do\u2019 list.\n\n\n\n\n\n\n\nSource: DSEC (latest annual data)", "date_published": "July 21, 2024", "date_modified": "July 20, 2024 - 15:34", "author": { "name": "Keith Morrison", "url": "https://www.macaubusiness.com/author/keith-morrison/", "avatar": "https://secure.gravatar.com/avatar/2cbea4555b349452d65f06d8dd037154?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2017/08/population.jpg", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured", "Opinion" ], "summary": "Like many other parts of the world, Macau is experiencing a population change. It is common knowledge that Macau\u2019s population is living longer. " }, { "id": "https://www.macaubusiness.com/special-report-extreme-precipitation-and-flood-disaster-risk/", "url": "https://www.macaubusiness.com/special-report-extreme-precipitation-and-flood-disaster-risk/", "title": "Special Report \u2013 Extreme precipitation and flood disaster risk", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/4_imagem-150x150.png\")
\nIn the context of the GBA, there are some cities more at risk than Macau
\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau
A team of scientists, including Long Zhou, from the Faculty of Innovation and Design at City University of Macau, identified what they called “flood hazard risk zones for the high-density urban areas in Macau,” having concluded that “the areas most affected by flooding is concentrated along the western coastline of the Macau Peninsula, including the area close to the coastline from Inner Harbor South and Rua da Praia do Manduco to the Ilha Verde Industrial Zone, especially the area around Inner Harbor, which is severely affected by rain and flooding due to to its low-lying topography.”
\n\n\n\nIn addition to the abovementioned areas, the areas around Avenida Horta e Costa and Avenida da Almeida, some areas around the Lisboa Hotel also have a high risk of flooding.
\n\n\n\nIn contrast, the vast majority of the areas within the buffer zone of the Historic Centre of Macau are at the lowest risk of flooding due to their high topography.
\n\n\n\nBut due to its size and the context in which it operates, this problem cannot be seen in isolation, which is why there are more and more studies that analyse the risk of flooding in the context of the Greater Bay Area (GBA).
\n\n\n\n“As climate change intensifies, extreme weather events, especially coastal flooding, is becoming increasingly severe,” states a research paper authored by a team of mainland scientists who investigated “climate risk assessment and adaptation ability in China\u2019s coastal urban agglomerations” (2024).
\n\n\n\nThe authors assume that “carbon emissions exacerbate climate change, leading to increased frequency and intensity of extreme precipitation, which may result in flooding,\u201d and they focused the research precisely on the GBA.
\n\n\n\nThe result shows that Huizhou in the east of the GBA and Zhaoqing in the northwest have the highest level of flood disaster risk.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/04/Guangdong-floods-1028x682.jpg\")
However, the central region of the GBA, which includes Guangzhou, Dongguan, Zhongshan, and Foshan, is highly susceptible to disaster-inducing environments and hazard-affected bodies. This means that the flooding risk and its impact in the GBA region exhibit distinct characteristics and spatial patterns.
\n\n\n\nAnd if the regions with the highest flood disaster risk are Guangzhou, Foshan, Dongguan, and Zhongshan along the Pearl River estuary, Zhuhai and Macau seem more ‘sheltered’.
\n\n\n\nWhat this research also shows is that “areas with higher levels of urbanisation and more developed economies will face higher flooding risks.”
\n\n\n\nAt the same time, the research results highlight that “ecological protection has a positive effect on reducing flood risk.”
\n\n\n\nIn the same vein is another piece of research published in 2023, also by scientists from the mainland and with the GBA as an object of analysis (\u201cEvolution characteristics of the rainstorm disaster chains in the Guangdong\u2013Hong Kong\u2013Macao Greater Bay Area, China\u201d).
\n\n\n\nThe authors also have no doubt that “enhancing the resistance of urban agglomeration against rainstorm-induced disasters has become a more urgent mission for the construction of the GBA.”
\n\n\n\nAnd they conclude that “rainstorms can lead to many disaster chains in the GBA, such as flash floods, riverine floods, debris flow/landslides, urban waterlogging, and agricultural waterlogging. Among them, the urban waterlogging disaster chain has the highest probability of occur.” Furthermore, “these disaster chains are influenced and exacerbated by each other, leading to cascading effects.”
\n\n\n\nThe authors created a ranking and concluded that “Shenzhen, Zhaoqing and Huizhou rank the top three in the frequency of rainstorm disaster chains, and Zhaoqing ranks the first in disaster loss index.”
\n\n\n\nWhile Guangzhou, Zhaoqing and Shenzhen “are at high-risk level for the rainstorm disasters with 10-year and 20-year return periods,” in Zhuhai, Zhongshan and Dongguan the index risk is relatively small. The same applies to Mac
\n\n\n\n
\u201cThe vast majority of the areas within the buffer zone of the Historic Center of Macau are at the lowest risk of flooding due to their high topography\u201d \u2013 study
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/4_imagem_CAIXA-1028x643.png\")
Sea-land breezes
\n\n\n\nSea-land breezes (SLB) “are mesoscale circulation phenomena that significantly affect weather and air quality in coastal regions.”
\n\n\n\nThe GBA experiences frequent SLB intrusion, according to a 2023 study, that examined the SLB features in the GBA from 2013 to 2022.
\n\n\n\nThe annual average daily sea and land wind speeds ranged from 2.8 to 3.2 m/s and 1.9 to 2.2 m/s, and from 1.8 to 2.2 m/s and 1.6 to 1.9 m/s in the eastern and western GBA, respectively.
\n\n\n\nThe start time of sea (land) winds first appeared at 0000 (1100) UTC and finally occurred at 0900 (2000) UTC.
\n\n\n\nPrevious | Western part of Peninsula \u201cis more sensitive to storm surge\u201d
\n", "content_text": "In the context of the GBA, there are some cities more at risk than Macau\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau\n\n\n\n\n\n\n\nA team of scientists, including Long Zhou, from the Faculty of Innovation and Design at City University of Macau, identified what they called “flood hazard risk zones for the high-density urban areas in Macau,” having concluded that “the areas most affected by flooding is concentrated along the western coastline of the Macau Peninsula, including the area close to the coastline from Inner Harbor South and Rua da Praia do Manduco to the Ilha Verde Industrial Zone, especially the area around Inner Harbor, which is severely affected by rain and flooding due to to its low-lying topography.”\n\n\n\nIn addition to the abovementioned areas, the areas around Avenida Horta e Costa and Avenida da Almeida, some areas around the Lisboa Hotel also have a high risk of flooding.\n\n\n\nIn contrast, the vast majority of the areas within the buffer zone of the Historic Centre of Macau are at the lowest risk of flooding due to their high topography.\n\n\n\nBut due to its size and the context in which it operates, this problem cannot be seen in isolation, which is why there are more and more studies that analyse the risk of flooding in the context of the Greater Bay Area (GBA).\n\n\n\n“As climate change intensifies, extreme weather events, especially coastal flooding, is becoming increasingly severe,” states a research paper authored by a team of mainland scientists who investigated “climate risk assessment and adaptation ability in China\u2019s coastal urban agglomerations” (2024).\n\n\n\nThe authors assume that “carbon emissions exacerbate climate change, leading to increased frequency and intensity of extreme precipitation, which may result in flooding,\u201d and they focused the research precisely on the GBA.\n\n\n\nThe result shows that Huizhou in the east of the GBA and Zhaoqing in the northwest have the highest level of flood disaster risk.\n\n\n\n\n\n\n\nHowever, the central region of the GBA, which includes Guangzhou, Dongguan, Zhongshan, and Foshan, is highly susceptible to disaster-inducing environments and hazard-affected bodies. This means that the flooding risk and its impact in the GBA region exhibit distinct characteristics and spatial patterns.\n\n\n\nAnd if the regions with the highest flood disaster risk are Guangzhou, Foshan, Dongguan, and Zhongshan along the Pearl River estuary, Zhuhai and Macau seem more ‘sheltered’.\n\n\n\nWhat this research also shows is that “areas with higher levels of urbanisation and more developed economies will face higher flooding risks.”\n\n\n\nAt the same time, the research results highlight that “ecological protection has a positive effect on reducing flood risk.”\n\n\n\nIn the same vein is another piece of research published in 2023, also by scientists from the mainland and with the GBA as an object of analysis (\u201cEvolution characteristics of the rainstorm disaster chains in the Guangdong\u2013Hong Kong\u2013Macao Greater Bay Area, China\u201d).\n\n\n\nThe authors also have no doubt that “enhancing the resistance of urban agglomeration against rainstorm-induced disasters has become a more urgent mission for the construction of the GBA.”\n\n\n\nAnd they conclude that “rainstorms can lead to many disaster chains in the GBA, such as flash floods, riverine floods, debris flow/landslides, urban waterlogging, and agricultural waterlogging. Among them, the urban waterlogging disaster chain has the highest probability of occur.” Furthermore, “these disaster chains are influenced and exacerbated by each other, leading to cascading effects.”\n\n\n\nThe authors created a ranking and concluded that “Shenzhen, Zhaoqing and Huizhou rank the top three in the frequency of rainstorm disaster chains, and Zhaoqing ranks the first in disaster loss index.”\n\n\n\nWhile Guangzhou, Zhaoqing and Shenzhen “are at high-risk level for the rainstorm disasters with 10-year and 20-year return periods,” in Zhuhai, Zhongshan and Dongguan the index risk is relatively small. The same applies to Mac\n\n\n\n \u201cThe vast majority of the areas within the buffer zone of the Historic Center of Macau are at the lowest risk of flooding due to their high topography\u201d \u2013 study \n\n\n\n\n\n\n\n\n\n\n\nSea-land breezes\n\n\n\nSea-land breezes (SLB) “are mesoscale circulation phenomena that significantly affect weather and air quality in coastal regions.”\n\n\n\nThe GBA experiences frequent SLB intrusion, according to a 2023 study, that examined the SLB features in the GBA from 2013 to 2022.\n\n\n\nThe annual average daily sea and land wind speeds ranged from 2.8 to 3.2 m/s and 1.9 to 2.2 m/s, and from 1.8 to 2.2 m/s and 1.6 to 1.9 m/s in the eastern and western GBA, respectively.\n\n\n\nThe start time of sea (land) winds first appeared at 0000 (1100) UTC and finally occurred at 0900 (2000) UTC.\n\n\n\nPrevious | Western part of Peninsula \u201cis more sensitive to storm surge\u201d", "date_published": "July 21, 2024", "date_modified": "July 20, 2024 - 15:21", "author": { "name": "Jo\u00e3o Paulo Meneses", "url": "https://www.macaubusiness.com/author/joao-paulo-meneses/", "avatar": "https://secure.gravatar.com/avatar/65cce644a14f20eda9029182721bd65f?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/4_imagem.png", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured" ], "summary": "In the context of the GBA, there are some cities more at risk than Macau" }, { "id": "https://www.macaubusiness.com/special-report-western-part-of-peninsula-is-more-sensitive-to-storm-surge/", "url": "https://www.macaubusiness.com/special-report-western-part-of-peninsula-is-more-sensitive-to-storm-surge/", "title": "Special Report \u2013 Western part of Peninsula \u201cis more sensitive to storm surge\u201d", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2022/08/017_187582-150x150.jpg\")
\nIn a scenario where sea waters rise by one metre, the majority of the Macau Peninsula will become a maximum risk zone
\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau
A study by the Institute of Atmospheric Physics, Chinese Academy of Sciences, Beijing, published in 2021, put an end to doubts. Other scientists had previously drawn attention to the problem of sea level rise (SLR) in Macau, but researchers from the Institute of Atmospheric Physics stated that \u201cglobal warming-related SLR constitutes a substantial threat to Macau, due to its low elevation, small size.\u201d
\n\n\n\nBased on local tide gauge records, this study shows that sea level in Macau \u201cis now rising at an accelerated rate\u201d: 1.35 mm yr-1 over 1925-2010 and jumping to 4.2 mm yr-1 over 1970-2010, \u201creflecting an apparent acceleration of SLR.\u201d
\n\n\n\nFurthermore, reads the document, the sea level near Macau rose 10 per cent faster than the global mean during the period from 1993 to 2012.
\n\n\n\n\u201cIn the future, as projected by a suite of climate models, the rate of SLR in Macau will be about 20 per cent higher than the global average,\u201d states the scientific team led by Lin Wang.
\n\n\n\nFrom then on, other scientists began to worry about other types of priorities: if such scenarios (which the previous study quantified in detail) are confirmed, which areas of Macau will be most affected?
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2022/08/7_mangkut-1.jpg\")
In the last two years, at least two different studies have come to answer the question.
\n\n\n\n“At the current sea level, the western part of Macau Peninsula is more sensitive to storm surge. The west and northwest of Macau Peninsula is mainly affected by overtopping floods, while the eastern part of Macau Peninsula is mainly affected by backflow through the pipe network,” states a research conducted by Zhi-Yong Long and Liang Gao, State Key Laboratory of Internet of Things for Smart City and Ocean Science and Technology, University of Macau.
\n\n\n\nAccording to them, “the western and northwestern parts are the most storm surge-prone region on Macau Peninsula, owning to its inshore location and low-lying terrain. Even in the storm surge scenario corresponding to a 5-year return period, floods appear in this region.”
\n\n\n\n“When facing a 200-year return period storm surge event, the flow depth will reach more than 1 metre in the western and northwestern areas of Macau Peninsula,” Long and Gao added.
\n\n\n\nAlso from the University of Macau is the researcher Shi Huabin, who has dedicated himself to the topic of SLR and who promises soon the conclusions of a study in which \u201cattempts to quantify the risk of flooding caused by storm tides based on a specific case, [super-typhoon] Hato.\u201d
\n\n\n\nThe investigation established five risk levels based on the potential duration of flooding, something Shi described as \u201cvery important.\u201d \u201cIf the floods last one or two days, the result is more dangerous,\u201d he said.
\n\n\n\nIn a scenario where sea waters rise by one metre, Shi said the model predicts that the majority of the Macau Peninsula will become a maximum risk zone, as well as \u201chuge flooding at the airport and Cotai.\u201d.
\n\n\n\n
\u201cThe areas most affected by flooding are concentrated along the western coastline of the Macau Peninsula\u201d \u2013 study
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/3_imagem-1028x578.png\")
The Shijiaoju floodgate
\n\n\n\nIn September 2023, Hong Kong recorded the highest rainfall for the last 139 years.
\n\n\n\nTo make the problem worse, the authorities in Shenzhen had to open the reservoir’s floodgates, but the Hong Kong police were only informed 45 minutes beforehand, and public opinion in the region knew only a quarter of an hour before, which made the response difficult.
\n\n\n\nThis case alerted public opinion in Macau to the possibility of a similar situation occurring in the event of a discharge of water from the Shijiaoju (Zhuhai) floodgate.
\n\n\n\nWhen questioned by lawmaker Leong Hong Sai, the Government simply responded that “work has already begun to reconstruct the Shijiaoju floodgate” and that its operation “has not, in general, caused any impact on the tide level in Macau in recent years, however , the Macau Government remains attentive to relevant circumstances.\u201d
\n\n\n\nPrevious | China\u2019s land subsidence risk
\n", "content_text": "In a scenario where sea waters rise by one metre, the majority of the Macau Peninsula will become a maximum risk zone\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau\n\n\n\n\n\n\n\nA study by the Institute of Atmospheric Physics, Chinese Academy of Sciences, Beijing, published in 2021, put an end to doubts. Other scientists had previously drawn attention to the problem of sea level rise (SLR) in Macau, but researchers from the Institute of Atmospheric Physics stated that \u201cglobal warming-related SLR constitutes a substantial threat to Macau, due to its low elevation, small size.\u201d\n\n\n\nBased on local tide gauge records, this study shows that sea level in Macau \u201cis now rising at an accelerated rate\u201d: 1.35 mm yr-1 over 1925-2010 and jumping to 4.2 mm yr-1 over 1970-2010, \u201creflecting an apparent acceleration of SLR.\u201d\n\n\n\nFurthermore, reads the document, the sea level near Macau rose 10 per cent faster than the global mean during the period from 1993 to 2012.\n\n\n\n\u201cIn the future, as projected by a suite of climate models, the rate of SLR in Macau will be about 20 per cent higher than the global average,\u201d states the scientific team led by Lin Wang.\n\n\n\nFrom then on, other scientists began to worry about other types of priorities: if such scenarios (which the previous study quantified in detail) are confirmed, which areas of Macau will be most affected?\n\n\n\n\n\n\n\nIn the last two years, at least two different studies have come to answer the question.\n\n\n\n“At the current sea level, the western part of Macau Peninsula is more sensitive to storm surge. The west and northwest of Macau Peninsula is mainly affected by overtopping floods, while the eastern part of Macau Peninsula is mainly affected by backflow through the pipe network,” states a research conducted by Zhi-Yong Long and Liang Gao, State Key Laboratory of Internet of Things for Smart City and Ocean Science and Technology, University of Macau.\n\n\n\nAccording to them, “the western and northwestern parts are the most storm surge-prone region on Macau Peninsula, owning to its inshore location and low-lying terrain. Even in the storm surge scenario corresponding to a 5-year return period, floods appear in this region.”\n\n\n\n“When facing a 200-year return period storm surge event, the flow depth will reach more than 1 metre in the western and northwestern areas of Macau Peninsula,” Long and Gao added.\n\n\n\nAlso from the University of Macau is the researcher Shi Huabin, who has dedicated himself to the topic of SLR and who promises soon the conclusions of a study in which \u201cattempts to quantify the risk of flooding caused by storm tides based on a specific case, [super-typhoon] Hato.\u201d\n\n\n\nThe investigation established five risk levels based on the potential duration of flooding, something Shi described as \u201cvery important.\u201d \u201cIf the floods last one or two days, the result is more dangerous,\u201d he said.\n\n\n\nIn a scenario where sea waters rise by one metre, Shi said the model predicts that the majority of the Macau Peninsula will become a maximum risk zone, as well as \u201chuge flooding at the airport and Cotai.\u201d.\n\n\n\n \u201cThe areas most affected by flooding are concentrated along the western coastline of the Macau Peninsula\u201d \u2013 study \n\n\n\n\n\n\n\n\n\n\n\nThe Shijiaoju floodgate\n\n\n\nIn September 2023, Hong Kong recorded the highest rainfall for the last 139 years.\n\n\n\nTo make the problem worse, the authorities in Shenzhen had to open the reservoir’s floodgates, but the Hong Kong police were only informed 45 minutes beforehand, and public opinion in the region knew only a quarter of an hour before, which made the response difficult.\n\n\n\nThis case alerted public opinion in Macau to the possibility of a similar situation occurring in the event of a discharge of water from the Shijiaoju (Zhuhai) floodgate.\n\n\n\nWhen questioned by lawmaker Leong Hong Sai, the Government simply responded that “work has already begun to reconstruct the Shijiaoju floodgate” and that its operation “has not, in general, caused any impact on the tide level in Macau in recent years, however , the Macau Government remains attentive to relevant circumstances.\u201d\n\n\n\nPrevious | China\u2019s land subsidence risk", "date_published": "July 21, 2024", "date_modified": "July 20, 2024 - 15:19", "author": { "name": "Jo\u00e3o Paulo Meneses", "url": "https://www.macaubusiness.com/author/joao-paulo-meneses/", "avatar": "https://secure.gravatar.com/avatar/65cce644a14f20eda9029182721bd65f?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2022/08/017_187582.jpg", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured" ], "summary": "In a scenario where sea waters rise by one metre, the majority of the Macau Peninsula will become a maximum risk zone" }, { "id": "https://www.macaubusiness.com/ho-iat-seng-extends-holiday-for-another-10-days/", "url": "https://www.macaubusiness.com/ho-iat-seng-extends-holiday-for-another-10-days/", "title": "Ho Iat Seng extends holiday for another 10 days", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/04/Ho-Iat-Seng-Legislative-Assembly1-150x150.jpg\")
\n[Updated]
\n\n\n\nMacau Chief Executive (CE) Ho Iat Seng has prolonged his annual leave until July 29, according to an executive order published in the Official Gazette on Saturday.
\n\n\n\nThis comes after a previous 16-day extension which ended on Friday, July 19. Ho has been on a long annual leave period since June 21. Secretary for Administration and Justice Andr\u00e9 Cheong will continue to assume his duties during the CE\u2019s absence, the executive order signed by Ho Iat Seng indicates.
\n\n\n\nThe Government Information Bureau (GCS) meanwhile issued a statement on Saturday indicating that during the ongoing holiday period the CE “underwent a routine medical examination and received necessary diagnostic and therapeutic care, and is currently in good health.”
\n\n\n\nThe statement came “in response to recent media requests for information regarding the Chief Executive’s annual leave,” GCS said.
\n\n\n\nIn total, the CE\u2019s break will be 39 days. The extensions have led to questions about Ho’s health condition and whether he would be standing in the upcoming CE election. After the announcement of the previous extension, on July 7 sources told MNA that he was planning to announce his bid for a second term as head of the SAR Government following the election for the CE Election Committee members scheduled for August 11. The same sources noted that this was the first effective annual leave period he has taken since assuming office as Chief Executive on December 20, 2019.
\n\n\n\nFollowing the visit to Macau in May by Xia Baolong, Beijing\u2019s top official in charge of Macau and Hong Kong affairs, Ho said the upcoming CE election had not been addressed in the meetings. He added that, at the time, May 19, he didn\u2019t have anything to share with the public yet.
\n\n\n\nThe August 11 election will select the 400 electors from different sectors of local society who will be choosing the CE. Existing electoral rules mandate that the two elections should be at least 60 days apart, indicating that the CE election could be held on October 13 at the earliest, as it is the first Sunday after the 60-day period. CE elections have consistently taken place on Sundays.
\n\n\n\nHo Iat Seng\u2019s predecessors, Edmund Ho and Chui Sai On, both served two five-year terms. With the exception of the first CE election, held in 1999, there has always been only one candidate on the ballot. Local businessman Jorge Chiang announced earlier this month his intention to run in this year\u2019s CE election.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/CPC-Third-Plenum-150x150.jpg\")
\nThe four-day Third Plenum of the Central Committee of the Communist Party of China (CPC) ended on July 18, delineating a\u00a0\u00a0comprehensive set of reforms and designating the year 2029 as the timeline of completing these reforms and the year 2035 as a target of achieving \u201chigh-quality socialist market economic system.\u201d Overall, stability amid persistent economic and social reforms are the main themes of the Third Plenum.
\n\n\n\n![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2021/10/Sonny-Lo01.jpg\")
The Plenum approved an important decision on the Central Committee\u2019s further comprehensive and deepening reforms and on the promotion of Chinese-style modernization. The objectives are to improve the basic system, to realize the modernization of the national governing system and capability, and to achieve a strong socialist modernized nation.
\n\n\n\nEconomically speaking, the decision mentions the need to construct a unified big market in China, improve the market economy, reform the new high-quality productive system, deepen financial/monetary and tax reforms, and lay the foundation of the 15th five-year plan.
\n\n\n\nClearly, the socialist market economy and its permanent reforms remain the pillar of China\u2019s economic modernization with an emphasis on the acceleration of new productive forces and on their related reforms at the level of superstructure (values and institutions).
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Central-Committe-politburo-standing-commitee.jpg\")
In terms of risks management, the decision emphasizes the necessity of preventing and solving the debts of the land and property sectors, the local government and small and medium enterprises. Moreover, there is a need of leading public opinion and preventing and solving the risks of ideological development.
\n\n\n\nWhat these phrases implied was that the central authorities learnt a lesson from the failure of the Evergrande Group to deliver property projects that led to some public discontent. The conglomerate\u2019s fiasco heightened the crisis consciousness of the central and local authorities who have recently tightened the process of auditing work in the land and property sectors.
\n\n\n\nWith regard to opening the door to the outside world, the decision mentions the need to expand the openness of the economic system in a stable manner, to deepen reforms in external trade, and to persist in managerial reforms to attract foreign investment and improve China\u2019s investment in other countries. In this way, a high-quality Belt and Road system will be established.
\n\n\n\nPolitically, the decision vows to improve and perfect the basic political system, meaning that the national and local legislatures as well as the people\u2019s consultative conferences will continue to be reformed as crucial supervisory mechanisms.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Xi-Jinping-CPC-Central-Commitee.jpg\")
Culturally, the decision emphasizes cultural confidence, pointing to the need for a responsibility system in ideological work, a healthy governing system for cultural development and an effective international media system.
\n\n\n\nClearly, persistent ideological and propaganda work remain the cornerstone of reforms in China.
\n\n\n\nIn terms of livelihood improvement, the decision points to the improvements of the distribution system, the policy priority of providing employment and the necessity of deepening medical care and health system reforms.
\n\n\n\nObviously, social stability through the betterment of the people\u2019s livelihood is the linchpin of the Third Plenum\u2019s decision.
\n\n\n\nThe decision also elucidates the importance of improving the national security system, the governing mechanism for public safety, the social governance system and the national security mechanism that deals with external relations.
\n\n\n\nSecuritization has actually remained a prominent trend of Chinese reforms since 2012, analytically speaking.
\n\n\n\nIn the area of external relations, the decision says that China participates in and takes the leadership of the global governance system, reform and construction while resolutely protecting national sovereignty, security and developmental interest.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/CPC-Central-Committee1.jpg\")
Other crucial aspects of the decision includes the need for reform of state-owned enterprises (injecting more competition into the energy and railroad sectors); the support of civilian enterprises to partake in the nation\u2019s large infrastructure projects; the standardization and integration of high-quality markets in electricity, digital data and rural-urban land use. Moreover, the entity economy and the digital economy have to be integrated further in the process of infrastructure modernization and high-quality development. The local government\u2019s financial difficulties will be tackled through the process of giving the localities more autonomy in expanding their tax revenues and increasing the central government\u2019s proportion of local-level expenditures. Public services will be improved for registered households and low-income and poor households in rural areas, including the supervision of the manufacturing and distribution of food products with proper subsidies.
\n\n\n\nNew economic and social groups will be explored to assist employment with an emphasis on party leadership. Finally, anti-corruption work persists while strengthening a monitoring system to prevent abusing the prosecution process of anti-corruption.
\n\n\n\nAnalytically, the CPC plays the leadership role in all aspects of reforms, ranging from the injection of more competitive elements in the socialist economy to the re-invigoration of social organizations supportive of the government and societal employment.
\n\n\n\nBasically, strong governance is the focal point of the Third Plenum.
\n\n\n\nInterestingly, its decision is not only pragmatic but also frank, acknowledging that the demand side of the economy remains weak.
\n\n\n\nIn terms of personnel management, ex-foreign minister Qin Gang resigned from his position in the Central Committee \u2013 a more graceful exit than those corrupt military commanders such as former minister Li Shangfu and former rocket force chief Sun Jinming who were dismissed from the party.
\n\n\n\nThe implications for Hong Kong and Macau are obvious: while Hong Kong and Macau practise capitalism under the \u201cone country, two systems,\u201d both cities are expected to persist in all kinds of reforms in the economic, social, cultural and livelihood aspects. If social stability and economic prosperity are the twin foci of permanent reforms in the mainland, the ruling authorities in both Hong Kong and Macau are naturally expected to deliver more in these two crucial dimensions.
\n\n\n\nIn conclusion, the decision of the Third Plenum continues to build China up as a strong nation punctuated by the emphases on persistent economic reforms, systemic improvements, socio-political stability, economic prosperity, the betterment of the people\u2019s livelihood, the permanence of socialist market modernization, and the leadership of the CPC.
\n\n\n\n*Sonny Shiu-Hing Lo is a political scientist, veteran commentator, and author of dozens of books and academic articles on Hong Kong, Macau, and Greater China
![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/02/5W9A7061a-150x150.jpg\")
\nChina\u2019s massive wave of urbanisation is threatened by land subsidence, a study indicates.
\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau
\n\n\n\nForty percent of China’s major cities are suffering “moderate to severe” levels of subsidence, putting millions of people at risk of flooding
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/%E5%B1%8F%E5%B9%95%E6%88%AA%E5%9B%BE-2024-07-19-172428.png\")
A study published in April, analysing 82 major cities in China, showed that about 40 per cent of the land is “undergoing moderate to severe subsidence, which adds to the risk of flooding for a large population.”
\n\n\n\nThe study’s title, “A national-scale assessment of land subsidence in China’s major cities,” which appeared in Science magazine, sums up the research’s goals.
\n\n\n\nIts 63 authors, all Chinese, are renowned scientists from the mainland, so the credibility of the information is beyond doubt. The research was funded by the National Natural Science Foundation of China and the Chinese Academy of Sciences.
\n\n\n\nThe impact of the study was enormous. In addition to being in the news via Reuters, it originated several texts, with emphasis on one published in competitor Nature: “Nearly half of China’s major cities are sinking \u2014 some ‘rapidly’.”
\n\n\n\nThrough radar observations from satellites, scientists were able to track ground deformation, between 2015 and 2022. “Over many years, radar can pick up even relatively small changes on the order of millimetres per year.” This was the first time that satellite data was used to systematically measure how China’s major cities are sinking. An example: some parts of Shanghai have subsided up to 9 feet in the last century.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/2_Tinajin.jpeg\")
The northern city of Tianjin \u201cwas identified as one of the worst-hit.\u201d According to Reuters dispatch, \u201clast year, 3,000 residents were evacuated after a’sudden geological disaster\u2019 that investigators blamed on water depletion as well as the construction of geothermal wells.\u201d
\n\n\n\nOne of the consequences highlighted by the study is that part of the population living in areas of high urbanisation will be in danger in the coming decades.
\n\n\n\nA third of China’s urban population lives in the most affected areas. In the conclusions, the authors support the possibility that about a quarter of China’s coastal land will be below sea level in the next hundred years, largely due to subsidence.
\n\n\n\n\u201cOf the examined urban lands, 45 per cent are subsiding faster than 3 millimetres per year, and 16 per cent are subsiding faster than 10 millimeters per year, affecting 29 and 7 per cent of the urban population, respectively,\u201d wrote the authors.
\n\n\n\n\u201cThe subsidence appears to be associated with a range of factors, such as groundwater withdrawal and the weight of buildings,\u201d reads the paper.
\n\n\n\n\u201cBy 2120, 22 to 26 per cent of China\u2019s coastal lands will have a relative elevation lower than sea level, hosting 9 to 11 per cent of the coastal population, because of the combined effect of city subsidence and sea-level rise. Our results underscore the necessity of enhancing protective measures to mitigate potential damages from subsidence,\u201d the team lead by Zurui Ao (Associate Researcher at South China Normal University) recommends.
\n\n\n\n“Subsidence is the technical term for when land sinks relative to its surroundings, and it’s a major threat for cities around the world. It accelerates local sea level rise from climate change, because the land is getting lower as the ocean gets higher. Urban subsidence can also affect inland cities by damaging buildings and roads, and causing drainage issues when water is trapped in sinking areas,” according to the explanations in one of the multiple publications made later on the topic.
\n\n\n\nOf the 44 major coastal cities suffering from the problem, 30 were in Asia, according to a 2022 Singapore study, quoted by Reuters.
\n\n\n\nPrevious | \u201cClimate change brings complex legal issues\u201d
\n", "content_text": "China\u2019s massive wave of urbanisation is threatened by land subsidence, a study indicates.\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau\n\n\n\n\n\n\n\nForty percent of China’s major cities are suffering “moderate to severe” levels of subsidence, putting millions of people at risk of flooding\n\n\n\n\n\n\n\nA study published in April, analysing 82 major cities in China, showed that about 40 per cent of the land is “undergoing moderate to severe subsidence, which adds to the risk of flooding for a large population.”\n\n\n\nThe study’s title, “A national-scale assessment of land subsidence in China’s major cities,” which appeared in Science magazine, sums up the research’s goals.\n\n\n\nIts 63 authors, all Chinese, are renowned scientists from the mainland, so the credibility of the information is beyond doubt. The research was funded by the National Natural Science Foundation of China and the Chinese Academy of Sciences.\n\n\n\nThe impact of the study was enormous. In addition to being in the news via Reuters, it originated several texts, with emphasis on one published in competitor Nature: “Nearly half of China’s major cities are sinking \u2014 some ‘rapidly’.”\n\n\n\nThrough radar observations from satellites, scientists were able to track ground deformation, between 2015 and 2022. “Over many years, radar can pick up even relatively small changes on the order of millimetres per year.” This was the first time that satellite data was used to systematically measure how China’s major cities are sinking. An example: some parts of Shanghai have subsided up to 9 feet in the last century.\n\n\n\n\n\n\n\nThe northern city of Tianjin \u201cwas identified as one of the worst-hit.\u201d According to Reuters dispatch, \u201clast year, 3,000 residents were evacuated after a’sudden geological disaster\u2019 that investigators blamed on water depletion as well as the construction of geothermal wells.\u201d\n\n\n\nOne of the consequences highlighted by the study is that part of the population living in areas of high urbanisation will be in danger in the coming decades.\n\n\n\nA third of China’s urban population lives in the most affected areas. In the conclusions, the authors support the possibility that about a quarter of China’s coastal land will be below sea level in the next hundred years, largely due to subsidence.\n\n\n\n\u201cOf the examined urban lands, 45 per cent are subsiding faster than 3 millimetres per year, and 16 per cent are subsiding faster than 10 millimeters per year, affecting 29 and 7 per cent of the urban population, respectively,\u201d wrote the authors.\n\n\n\n\u201cThe subsidence appears to be associated with a range of factors, such as groundwater withdrawal and the weight of buildings,\u201d reads the paper.\n\n\n\n\u201cBy 2120, 22 to 26 per cent of China\u2019s coastal lands will have a relative elevation lower than sea level, hosting 9 to 11 per cent of the coastal population, because of the combined effect of city subsidence and sea-level rise. Our results underscore the necessity of enhancing protective measures to mitigate potential damages from subsidence,\u201d the team lead by Zurui Ao (Associate Researcher at South China Normal University) recommends.\n\n\n\n“Subsidence is the technical term for when land sinks relative to its surroundings, and it’s a major threat for cities around the world. It accelerates local sea level rise from climate change, because the land is getting lower as the ocean gets higher. Urban subsidence can also affect inland cities by damaging buildings and roads, and causing drainage issues when water is trapped in sinking areas,” according to the explanations in one of the multiple publications made later on the topic.\n\n\n\nOf the 44 major coastal cities suffering from the problem, 30 were in Asia, according to a 2022 Singapore study, quoted by Reuters.\n\n\n\nPrevious | \u201cClimate change brings complex legal issues\u201d", "date_published": "July 20, 2024", "date_modified": "July 19, 2024 - 17:28", "author": { "name": "Jo\u00e3o Paulo Meneses", "url": "https://www.macaubusiness.com/author/joao-paulo-meneses/", "avatar": "https://secure.gravatar.com/avatar/65cce644a14f20eda9029182721bd65f?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/02/5W9A7061a.jpg", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured" ], "summary": "China\u2019s massive wave of urbanisation is threatened by land subsidence, a study indicates.\ufeff" }, { "id": "https://www.macaubusiness.com/special-report-climate-change-brings-complex-legal-issues/", "url": "https://www.macaubusiness.com/special-report-climate-change-brings-complex-legal-issues/", "title": "Special Report \u2013 \u201cClimate change brings complex legal issues\u201d", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/09/Figura-4-Situa%C3%A7%C3%A3o-das-inunda%C3%A7%C3%B5es-na-parte-sul-do-Porto-Interior-na-manh%C3%A3-de-2-de-Setembro-150x150.png\")
\nEva Jiang Yi Wa is one of the first lawyers in Macau specializing in, among other areas, environmental law, energy, and climate change. She works at JNV Lawyers and Notaries.
\n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau
She has also been with the Faculty of Law at the University of Macau since 2011, serving as the Deputy Director of the Centre for Legal Studies and the Coordinator of the Postgraduate and Master’s programs.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/2_1_imagem.jpg\")
Floods are increasingly common in the Inner Harbour and, experts say, because of climate change. This alone can lead to an increase in conflict in court. Is this one of the risks?
\n\n\n\nEva Jiang \u2013 Yes, floods in the Inner Harbour are becoming more frequent primarily due to climate change, and this indeed poses significant legal risks. As part of the Macau Special Administrative Region, the Inner Harbour faces climate change challenges similar to those encountered in the rest of the world. Globally, climate change-induced extreme weather events such as floods, hurricanes, and rising sea levels have led to increased property damage and infrastructure destruction, subsequently resulting in numerous legal disputes. These disputes encompass several aspects:
\n\n\n\nFirstly, disputes over liability are likely to increase. Victims might even sue government agencies, arguing that they have failed to provide adequate flood prevention measures and infrastructure. Governments play a crucial role in responding to climate change and extreme weather events. Their responsibilities include not only the implementation of effective flood prevention infrastructure but also the formulation and enforcement of stringent environmental regulations and policies. Should the government fail to fulfil these duties effectively, it may face legal action.
\n\n\n\n
\u201cThe judicial responsibility for climate change cannot fall solely on one type of entity; it is distributed among governments, businesses, and individuals\u201d
Secondly, from a commercial perspective, as floods become more frequent, insurance claims and compensation issues will become more complex. Insurance companies might pay substantial compensation for flood damages but could also question whether the insured parties have adequate disaster prevention measures, leading to legal disputes. This also reminds the government to take precautions and strengthen dialogue with the insurance industry (\u201cto prepare for a rainy day\u201d), ensuring that insurance policies and claims procedures can address the growing climate risks.
\n\n\n\nFurthermore, the long-term impacts of climate change include challenges to land use and urban-planning policies. For example, the government may need to reassess and revise building related regulations and land use policies, including considerations for urban renewal plans, to adapt to changing environmental conditions.
\n\n\n\nIn conclusion, climate change brings not only direct environmental and economic challenges but also complex legal issues, necessitating global legal frameworks and policy adjustments to address these risks. Governments, businesses, and individuals all have significant responsibilities in addressing climate change and preventing the resulting legal disputes.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2022/08/Inner-harbour-walls-flood-gates.png\")
It seems obvious that, despite some signs, we have not yet begun to suffer the consequences of climate change, which will happen in the coming decades. What can a lawyer with this specialisation do?
\n\n\n\nE. J. \u2013 As a Macau lawyer and law teacher in the Faculty of Law at the University of Macau, I see numerous opportunities to help our community prepare for and adapt to future challenges. Macau, as a global tourism hub, faces climate change challenges similar to those encountered in other parts of the world while participating in building a community with a shared future for mankind. Although we have not yet fully experienced the severe consequences of climate change, these impacts will become more apparent in the coming decades. Here are some action directions that I have considered:
\n\n\n\nLaws and Policies: First, I believe that legal professionals in Macau should actively participate in drafting and advocating for stricter environmental regulations and policies to mitigate and adapt to the impacts of climate change.
\n\n\n\nLegal Litigation and Advocacy: In terms of legal litigation, legal professionals in Macau, especially practicing lawyers, can represent individuals, communities, or NGOs in lawsuits against entities responsible for climate change.
\n\n\n\nCorporate Consulting and Compliance: Providing legal consulting and compliance advice to companies is both important and beneficial.
\n\n\n\nEducation and Awareness: Education and awareness are also key duties of legal practitioners in the field of climate change.
\n\n\n\nCross-Border Cooperation and Exchange: Finally, climate change knows no borders, it is a global issue that requires cross-border cooperation and exchange. As lawyers in Macau, we should actively participate in international or regional climate change legal forums, exchanging experiences and best practices with legal experts from other countries and regions.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/04/Macau-seen-from-Hengqin-1028x935.jpeg\")
A philosophical question: man, in a general sense, is primarily (the sole? responsible for climate change and, therefore, its consequences. Who will be held responsible when we start talking about judicial accountability?
\n\n\n\nE. J. \u2013 Judicial responsibility in environmental protection is not merely the duty of a single entity but rather a complex collective responsibility (the principle of “common but differentiated responsibilities” should likewise apply). As a lawyer in Macau specialising in environmental and administrative law, I believe that addressing the judicial responsibility related to climate change demands a comprehensive and integrated approach:
\n\n\n\nAdministrative and legislative bodies: Governments play a fundamental role in mitigating and adapting to climate change, and this is indisputable. It is crucial that the government adopt a proactive and flexible approach to execution rather than merely reacting to issues.
\n\n\n\nIn Macau, businesses must also adhere to local environmental laws and regulations while referencing international best practices to develop and implement effective environmental management systems. The Macau SAR government has enacted a series of environmental protection policies, and businesses must actively cooperate to ensure their operations do not negatively impact the environment; otherwise, they risk becoming defendants in judicial lawsuits.
\n\n\n\nIn summary, the judicial responsibility for climate change cannot fall solely on one type of entity; it is distributed among governments, businesses, and individuals. Each entity plays a role in mitigating and adapting to climate change, forming a collective responsibility, with judicial responsibilities being no exception.
\n\n\n\nPrevious | The weather is \u201cbroken\u201d and Macau has already noticed that
\n", "content_text": "Eva Jiang Yi Wa is one of the first lawyers in Macau specializing in, among other areas, environmental law, energy, and climate change. She works at JNV Lawyers and Notaries. \n\n\n\nMacau Business | July 2024 | Special Report | How climate change(s) Macau\n\n\n\n\n\n\n\nShe has also been with the Faculty of Law at the University of Macau since 2011, serving as the Deputy Director of the Centre for Legal Studies and the Coordinator of the Postgraduate and Master’s programs.\n\n\n\n\n\n\n\nFloods are increasingly common in the Inner Harbour and, experts say, because of climate change. This alone can lead to an increase in conflict in court. Is this one of the risks? \n\n\n\nEva Jiang \u2013 Yes, floods in the Inner Harbour are becoming more frequent primarily due to climate change, and this indeed poses significant legal risks. As part of the Macau Special Administrative Region, the Inner Harbour faces climate change challenges similar to those encountered in the rest of the world. Globally, climate change-induced extreme weather events such as floods, hurricanes, and rising sea levels have led to increased property damage and infrastructure destruction, subsequently resulting in numerous legal disputes. These disputes encompass several aspects:\n\n\n\nFirstly, disputes over liability are likely to increase. Victims might even sue government agencies, arguing that they have failed to provide adequate flood prevention measures and infrastructure. Governments play a crucial role in responding to climate change and extreme weather events. Their responsibilities include not only the implementation of effective flood prevention infrastructure but also the formulation and enforcement of stringent environmental regulations and policies. Should the government fail to fulfil these duties effectively, it may face legal action.\n\n\n\n \u201cThe judicial responsibility for climate change cannot fall solely on one type of entity; it is distributed among governments, businesses, and individuals\u201d \n\n\n\nSecondly, from a commercial perspective, as floods become more frequent, insurance claims and compensation issues will become more complex. Insurance companies might pay substantial compensation for flood damages but could also question whether the insured parties have adequate disaster prevention measures, leading to legal disputes. This also reminds the government to take precautions and strengthen dialogue with the insurance industry (\u201cto prepare for a rainy day\u201d), ensuring that insurance policies and claims procedures can address the growing climate risks.\n\n\n\nFurthermore, the long-term impacts of climate change include challenges to land use and urban-planning policies. For example, the government may need to reassess and revise building related regulations and land use policies, including considerations for urban renewal plans, to adapt to changing environmental conditions.\n\n\n\nIn conclusion, climate change brings not only direct environmental and economic challenges but also complex legal issues, necessitating global legal frameworks and policy adjustments to address these risks. Governments, businesses, and individuals all have significant responsibilities in addressing climate change and preventing the resulting legal disputes.\n\n\n\n\n\n\n\n It seems obvious that, despite some signs, we have not yet begun to suffer the consequences of climate change, which will happen in the coming decades. What can a lawyer with this specialisation do?\n\n\n\nE. J. \u2013 As a Macau lawyer and law teacher in the Faculty of Law at the University of Macau, I see numerous opportunities to help our community prepare for and adapt to future challenges. Macau, as a global tourism hub, faces climate change challenges similar to those encountered in other parts of the world while participating in building a community with a shared future for mankind. Although we have not yet fully experienced the severe consequences of climate change, these impacts will become more apparent in the coming decades. Here are some action directions that I have considered:\n\n\n\nLaws and Policies: First, I believe that legal professionals in Macau should actively participate in drafting and advocating for stricter environmental regulations and policies to mitigate and adapt to the impacts of climate change.\n\n\n\nLegal Litigation and Advocacy: In terms of legal litigation, legal professionals in Macau, especially practicing lawyers, can represent individuals, communities, or NGOs in lawsuits against entities responsible for climate change.\n\n\n\nCorporate Consulting and Compliance: Providing legal consulting and compliance advice to companies is both important and beneficial.\n\n\n\nEducation and Awareness: Education and awareness are also key duties of legal practitioners in the field of climate change.\n\n\n\nCross-Border Cooperation and Exchange: Finally, climate change knows no borders, it is a global issue that requires cross-border cooperation and exchange. As lawyers in Macau, we should actively participate in international or regional climate change legal forums, exchanging experiences and best practices with legal experts from other countries and regions.\n\n\n\n\n\n\n\nA philosophical question: man, in a general sense, is primarily (the sole? responsible for climate change and, therefore, its consequences. Who will be held responsible when we start talking about judicial accountability?\n\n\n\nE. J. \u2013 Judicial responsibility in environmental protection is not merely the duty of a single entity but rather a complex collective responsibility (the principle of “common but differentiated responsibilities” should likewise apply). As a lawyer in Macau specialising in environmental and administrative law, I believe that addressing the judicial responsibility related to climate change demands a comprehensive and integrated approach:\n\n\n\nAdministrative and legislative bodies: Governments play a fundamental role in mitigating and adapting to climate change, and this is indisputable. It is crucial that the government adopt a proactive and flexible approach to execution rather than merely reacting to issues.\n\n\n\nIn Macau, businesses must also adhere to local environmental laws and regulations while referencing international best practices to develop and implement effective environmental management systems. The Macau SAR government has enacted a series of environmental protection policies, and businesses must actively cooperate to ensure their operations do not negatively impact the environment; otherwise, they risk becoming defendants in judicial lawsuits.\n\n\n\nIn summary, the judicial responsibility for climate change cannot fall solely on one type of entity; it is distributed among governments, businesses, and individuals. Each entity plays a role in mitigating and adapting to climate change, forming a collective responsibility, with judicial responsibilities being no exception.\n\n\n\nPrevious | The weather is \u201cbroken\u201d and Macau has already noticed that", "date_published": "July 20, 2024", "date_modified": "July 19, 2024 - 17:21", "author": { "name": "Jo\u00e3o Paulo Meneses", "url": "https://www.macaubusiness.com/author/joao-paulo-meneses/", "avatar": "https://secure.gravatar.com/avatar/65cce644a14f20eda9029182721bd65f?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/09/Figura-4-Situa%C3%A7%C3%A3o-das-inunda%C3%A7%C3%B5es-na-parte-sul-do-Porto-Interior-na-manh%C3%A3-de-2-de-Setembro.png", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured" ], "summary": "Eva Jiang Yi Wa is one of the first lawyers in Macau specializing in, among other areas, environmental law, energy, and climate change. She works at JNV Lawyers and Notaries. " }, { "id": "https://www.macaubusiness.com/analysis-the-internationalization-of-chinas-electric-vehicles/", "url": "https://www.macaubusiness.com/analysis-the-internationalization-of-chinas-electric-vehicles/", "title": "ANALYSIS \u2013 The internationalization of China\u2019s Electric Vehicles", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2022/09/Chinese-carmaker-BYD-150x150.jpg\")
\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/12/Jorge-Costa-Oliveira-new-photo-1028x982.jpg\")
By Jorge Costa Oliveira
\n\n\n\nPartner and CEO of JCO Consultancy
\n\n\n\nWell-defined public policies (including significant government incentives \u2013 purchase subsidies, tax incentives and favourable licensing plates), good government and business planning in creating an integrated value chain in the electric storage and mobility sectors, and the absence of entropies created by radical environmentalist activism, all these factors converged to make China the largest market in the production (45%) and consumption (60%) of electric vehicles (EV). It should be noted that it is not only Chinese brands (BYD, Great Wall, SAIC, BAIC, Changan, Chery, Geely, XPeng, NIO) that produce EV in China; many foreign brands (Tesla, Ford, GM, BMW, VW, Mercedes, Audi, Renault, Volvo, Jaguar Land Rover, Nissan) also have EV plants within China, producing for the Chinese domestic market, but also for export. Value chain integration \u2013 from the refining of critical metals to the production of electric cells, cathodes, anodes, to gigafactories and EV assemblers \u2013 low production costs, the abovementioned government incentives and effective competition, have enabled the production of EVs in China to be significantly cheaper than in the US and Europe. According to some industry experts, production in China can shave up to \u20ac10,000 off the cost of an EV. In 2022, electric battery prices were 24% lower in China than in the U.S.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture2-1028x579.png\")
Meanwhile, in the Chinese domestic EV market, demand growth is slowing down (+90% in 2022, +36% in 2023, +22% in 2024) and competition is fierce (with a price war that has lasted for more than a year). Furthermore, several western institutions consider that China\u2019s EV industry is at overcapacity, producing annually an excess of 5 to 10 million EVs beyond domestic demand, forcing China to find new markets to fuel continued growth.
\n\n\n\nInternationalisation has become an essential facet for all EV producers in China, focused on key potential consumer markets. Thus far, the internationalisation of Chinese EVs has been made mainly via exports. The growth of EV exports was the key factor for China\u2019s reversion of its automotive trade balance; since mid-2022, vehicle exports have continuously outperformed imports. This trend was catalysed by China-produced vehicle exports to Russia amid the retreat of western corporations from this market since Ukraine\u2019s invasion.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture3-1028x544.png\")
Overall, the Association of European Vehicle Logistics (ECG), citing data from the China Association of Automobile Manufacturers (Caam), reports that Chinese [all] vehicle exports rose >1.3m in Q1 2024 (76.8% ICE, 23.2% NEVs), up 33% from Q1 2023, with leading markets being Russia (112,000 units), Mexico (66,000), Belgium (42,000) and the UK (38,000). The main Chinese carmakers exporters were Chery (with 253,000 units), SAIC (206,000), Changan (145,000), Geely (111,000), BYD (99,000), Great Wall (93,000) and Tesla (88,000).
\n\n\n\nThe main destination market for Chinese-produced EVs is Europe, followed by Asia; there is little penetration in the North American and Latin American markets (although growing fast in Brazil). Chinese EV brands avoid exporting to the US, which has a 27.5% tariff on automobiles imported from China (soon to be increased to 100%) and tie EV tax credits to local incorporation requirements. The majority of EVs exported from China are destined for Europe due to high demand in the region, high European per capita income, high local EV prices, low European customs tariffs, and substantial government subsidies for EVs, regardless of its origin.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture4-1028x545.png\")
To understand the competitiveness of Chinese EV brands, a recent report by Rhodium Group gives the example of BYD’s Seal U model that sells for \u20ac21,770 in China and \u20ac41,990 in the EU. Not only are Chinese automakers rapidly gaining shares of the European EV market (especially in the lower-priced segments), but they are making higher profits in Europe. Elon Musk\u2019s prediction that Chinese carmakers would \u2018demolish\u2019 global rivals is coming true in literally every market (hence the 100% tariff imposed by the US government).
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture5.png\")
According to the European Automobile Manufacturers’ Association (ACEA), China maintained its position as the leading source of new car imports to the EU in terms of value, with a growth of 37.1% and a market share of 17.7%. A significant portion of this growth is due to EVs. According to the European Federation for Transport and Environment (T&E), EVs manufactured in China are expected to account for 25% of total EV sales in Europe in 2024 (+5% compared to 2023).
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture6.png\")
T&E projections estimate that [among the EVs manufactured in China] Chinese brands will progressively gain bigger market shares \u2013 11% by 2024 and 20% until 2027. However, it is important to clarify what \u201cChinese brands\u201d means. In 2023, Chinese brands only represented a 2.5% market share of the European market last year, with 72% of that share belonging to MG, a British car brand controlled by the Chinese group SAIC Motor, MG being today a fully Chinese brand from production to design. Without MG, Chinese brands have only a 0.6% market share in Europe. This discrepancy arises from the fact that most vehicles imported from China to Europe are not Chinese brand vehicles but rather vehicles manufactured in China by foreign brands. Tesla alone accounts for 68% of the EVs imported from China and registered in Western Europe.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture7.png\")
Following an investigation launched by the European Commission on \u201cunfair subsidization\u201d of China-produced EVs\u2019, the currently low EU customs tariffs (10%) are going to be increased to up to 38% (on BYD: 17,4%; on Geely: 20%; on SAIC: 38,1%; on other BEV producers in China, which cooperated in the investigation but have not been sampled: 21%; on all other BEV producers in China which did not cooperate in the investigation: 38,1%). It is not clear the effect that such an increase will have on European consumers demand for China-produced EVs, but it is likely to slow down the [fast] penetration they were having.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture8-1028x787.png\")
Given the high tariffs already imposed in many relevant markets (e.g., India, Thailand, Brazil) to protect local automobile industries and the high probability that the EU would raise its tariffs (and eventually impose non-tariff obstacles), Chinese EV producers have planned to and are gradually setting up plants in several countries outside China.
\n\n\n\nJourney to the West – the European Market
\n\n\n\nThe growing decoupling between China and the US has refrained Chinese EV producers from venturing into US-based production. Only Polestar \u2013 a luxury EV brand owned by Geely \u2013 has an investment in an EV plant, scheduled to start production in South Carolina in 2024 (it is so far the only brand selling in the US China-produced EVs).
\n\n\n\nThe main market where Chinese-branded EV companies plan to set up plants is Europe. BYD will have its first European plant investment in Hungary, and announced it is considering a second European plant in 2025. It is also likely that Great Wall Motors will make its first European plant in Hungary (negotiations concerning government incentives, including tax breaks, to attract foreign investment and for job creation, are under way). These investments are in line with sizable investments (and government incentives) for gigafactories in the country, to be made by South Korean groups SK On and Samsung SDI and Chinese battery giant CATL.
\n\n\n\nSpain, Europe\u2019s second largest car-making country after Germany, has secured investment from Chery, which will start production in the fourth quarter at a former Nissan facility in Barcelona, via a partnership with Spanish EV Motors. Chery is expected to benefit from Spain\u2019s 3.7 billion-euro programme launched in 2020 to attract EV and battery plants.
\n\n\n\nChina\u2019s Envision Group has already received 300 million euros in incentives under the scheme for a 2.5 billion battery plant creating 3,000 jobs. Spain might also host Stellantis\u2019 planned fourth gigafactory in Europe, with CATL.
\n\n\n\nPoland will have an EV plant to be made, in Tychy, by a partnership of China’s Leapmotor and Franco-Italian Stellantis.
\n\n\n\nChery is mulling over plans to establish a plant in the UK as it begins to launch its Omoda and Jaecoo brands, following in the footsteps of several Chinese-owned gigafactories producing electric batteries in the country.
\n\n\n\nAccording to Reuters, Chery plans a second, larger facility in Europe, a source with knowledge of the company’s plans told, and has held talks with governments, including the Italian one, which is keen to attract a second automaker to rival Fiat-maker Stellantis.
\n\n\n\nItaly can tap its national automotive fund, worth 6 billion euros between 2025 and 2030, for incentives for both car buyers and manufacturers. China\u2019s Dongfeng is among several other automakers that have held investment discussions with Rome.
\n\n\n\nStill, according to Reuters, SAIC, owner of the MG brand, aims to build two Europe plants. The first, based at an existing facility, could be announced as early as July and would employ a kit-assembly technique, targeting annual production of up to 50,000 vehicles. SAIC\u2019s second European plant would be completely greenfield and produce up to 200,000 vehicles annually. Germany, Italy, Spain and Hungary are reported to be on SAIC’s location shortlist.
\n\n\n\nBYD, Chery, SAIC and Great Wall are also looking for attractive locations in Eastern Europe and Turkey (its Association Agreement with the EU creates a customs union, and the country has several free trade agreements with non-EU countries) to set up plants for lower-cost vehicles.
\n\n\n\nTurkey is reported to be in advanced negotiations with BYD and Chery for EV plants investments in the country. The Turkish government says that separate negotiations are also underway with SAIC Motor, which owns MG, and Great Wall Motor.
\n\n\n\nOvercoming shipping issues
\n\n\n\nIn 2023, prices for car shipping carriers increased by up to 700% compared to 2019; Houthi attacks in the Red Sea further exacerbated them. A perception of shortage of shipping carriers [capacity] and inflated costs stemming from the war in Ukraine led Chinese EV carmakers and associated shipping companies to place orders for a significant number of new car carrier ships. According to the abovementioned report by the Rhodium Group, the combined capacity of these ships will allow the shipment of an estimated 560,000 cars annually to Europe in 2025, based on six trips a year (in 2023 the EU imported 472,000 EVs from China). Said capacity could surge to 1.7 million cars in 2026. \u201cIn the unlikely case that all ships were used for transporting cars to Europe, the volumes exported from China would likely be enough to capture 50% of the EU\u2019s EV market\u201d. The decision to purchase rather than lease these car-shipping carriers shows the long-term commitment of Chinese EV producers to export large quantities of cars.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture9-1028x614.png\")
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture11.png\")
Journey to SE Asia
\n\n\n\nThe other relevant market where Chinese-branded EV companies plan to set up plants is Southeast Asia.
\n\n\n\nAccording to a Counterpoint analyst, \u201cover 70% of EV sales in [Southeast Asia] are from Chinese brands, led by BYD\u201d. Thailand is the main destination market in SE Asia, accounting for 79% of ASEAN EV sales. Several major Chinese EV manufacturers have already established or announced plans to invest in Thailand. Great Wall Motors operates an EVs plant in Rayong province that produces its Ora brand. The company also plans to build a battery factory and an R&D centre in Thailand. BYD (in cooperation with Rever Automotive) also has a plant in Rayong that produces EVs and batteries. Chongqing Changan Automobile intends to invest 10 billion baht ($290 million) to set up an EV production facility in Chonburi province. The company expects to start production in 2024 and sell its vehicles under the Kaicene brand. GAC Aion plans to invest 6.2 billion baht ($180 million) to build an EV plant in Chachoengsao province. The company targets to begin production in 2024 and launch its Aion V model in Thailand. Hozon New Energy Automobile (in partnership with a local firm, Yontrakit Group) will start production of its Neta brand of EVs in Thailand in 2024. In 2023, SAIC Motor, in cooperation with Charoen Pokphand Group (CP), opened its first battery plant for EV in Chonburi province. SAIC Motor-CP said it intended to start making MG BEVs in Thailand.
\n\n\n\nSeveral Chinese EV brands are also scheduled to be produced in Malaysia. Hozon New Energy Automobile announced investments to produce the Neta brand in Malaysia. Changan Automobile Corporation (in partnership with Fieldman EV Sdn Bhd (FEV)) plans to build the Eado EV460 model in Lipat Kajang, Jasin, Melaka. Chery also plans to produce its EQ1 model in Malaysia. BYD (in partnership with CSH Alliance) will assemble (CKD) the BYD T3 electric van in Tanjung Malim, Perak.
\n\n\n\nEven in Vietnam, home to the successful VinFast EV carmaker, BYD and Haima announced plans to build plants to produce car parts and plants to assemble EVs.
\n\n\n\nIn Indonesia (by far the most populous SE Asian country, but with a low GDP per capita), PT Neta Auto (a subsidiary of Chinese firm Hozon Auto), in partnership with PT Handal Indonesia Motor (HIM), has started the production of Neta’s latest model, the Neta V-II (on a CKD basis) in Bekasi, West Java. Neta V-II is powered by LFP batteries from Chinese battery maker Gotion High-tech, a battery pack that, according to Neta Auto, has 44% of its components produced in Indonesia. BYD announced in January 2024 that it will make an EV plant in Indonesia, following a previous intention of building an electric bus assembly plant and, eventually, a battery manufacturing factory in Indonesia. Chinese EV maker Aion announced in April 2024 that plans to make an EV plant in Indonesia (in partnership with Indomobil Group).
\n\n\n\nIndonesia has also great potential to become a production hub for EV batteries given the abundant nickel ore natural resources in the country. Many EV carmakers, namely from China, are keen to enter upstream in the supply chain for EVs and automotive batteries including the mining and refining of nickel ore, producing precursors and cathode materials.
\n\n\n\nJourneys to other geographies
\n\n\n\nAlthough Europe and ASEAN are the main markets in the internationalization path of Chinese EV carmakers, the main producers are also expanding into other relevant geographies.
\n\n\n\nIn Central Asia, the Kazakhstan government, unveiled (on March 2023) that it reached an agreement [with Chery and ZEEKR] for the construction of EV plants for the production of Exeed and Geely car models, with a planned capacity of 80,000 finished vehicles.
\n\n\n\nIt is noteworthy the sizable investment by BYD [Europe] (in partnership with Uzavtosanoat) in the Jizzakh region, in Uzbekistan, for an EV plant using initially the CKD method. Chinese firm Henan Suda signed a deal with Uzbekistan\u2019s Energy Ministry to build upwards of 50,000 electric vehicle charging stations around the country by 2033.
\n\n\n\nIn Latin America, thus far, Chinese EV carmakers have focused in Brazil and in Mexico. In Brazil, Chinese EV carmakers are already the EV market leaders, and they appear set to capitalize on the rapidly growing market for EVs in the country. EV sales in Brazil were up 145% in the first three months of 2024, according to the Brazilian Electric Vehicle Association, with BYD and Great Wall Motors leading the pack on EV sales in Brazil, the world\u2019s sixth-largest auto market. Like the US and the EU, Brazil has raised tariffs on all imported EVs, which should reach 35% in 2026.
\n\n\n\nGreat Wall and BYD have both pledged to build EV factories in the country. BYD estimates that its Cama\u00e7ari complex (a former Ford cars plant) will be able to churn out 150,000 vehicles per year once it opens, while Great Wall’s plant in Iracem\u00e1polis (a former Mercedes-Benz cars plant) could produce 100,000 vehicles annually. Following its business model in China, BYD is trying to recreate an integrated supply chain in Brazil (and Chile), reportedly holding talks about taking over one of the country’s lithium producers.
\n\n\n\nBYD committed to make an EV plant in Central Mexico. SAIC also plans to build an EV plant in the country, to produce locally MG-branded vehicles. Jetour (in alliance with the LDR company), another Chinese EV automaker, also announced large investments in Mexico (in Aguascalientes and/or Guanajuato) for a dual assembly plant \u2013 it will produce both combustion vehicles (ICE) and EVs. Chery is also mentioned in the media as being engaged in discussions with Mexican authorities over the setting up of EV car assembly plants.
\n\n\n\nA report from the \u2018Alliance for American Manufacturing\u2019, released in February 2024, describes as \u201calarming\u201d the Chinese focus on building plants in Mexico. \u201cThey can access the US by way of the more favourable tariffs [2.5%] under the USMCA. This strategy is, in effect, an effort to gain backdoor access to American consumers by circumventing existing policies that are keeping China\u2019s autos out of the US market.\u201d The Alliance expressed concern that \u201cthe introduction of cheap Chinese autos \u2013 which are so inexpensive because they are backed with the power and funding of the Chinese government \u2013 to the American market could end up being an extinction-level event for the US auto sector\u201d. Reuters reported, on April 2024, that the Mexico’s federal government, under pressure from the US authorities, is keeping Chinese automakers at arm’s length by refusing to offer such incentives as low-cost public land or tax cuts for investment in EV production.
\n\n\n\nIn the Middle East, in 2022 Enovate Motors, a Chinese EV start-up, announced it would make (in partnership with Saudi Sumou Holding) an EV plant in Saudi Arabia. On mid-2023 Saudi Arabia’s Ministry of Investment agreed with Chinese EV carmaker Human Horizons a mega-deal of $5.6 billion to collaborate on the development, manufacture and sale of vehicles. These investments in the new plants made by Chinese-based EV automakers in Saudi Arabia are expected to serve the surrounding region.
\n\n\n\nIn India, BYD, which entered the Indian passenger vehicle market in 2021, currently offers two products in its India portfolio \u2013 Atto3 SUV and e6 MPV \u2013 which are imported and assembled at its plant in Chennai. However, on mid-2023, a proposal by BYD (in partnership with Hyderabad-based Megha Engineering and Infrastructures) to make another EV plant, in Hyderabad (the proposal included a plan to set up charging stations in India and build research and development and training centres) was refused by the Indian government on \u201csecurity concerns with respect to Chinese investments in India\u201d. More recently, the Indian government changed its approach. On March 2024, the new EV policy approved by Indian government, allows import duty concessions (a limited number of cars costing USD >35,000 will be subject to lower customs/import duty of 15% for five years) to be given to foreign companies setting up manufacturing units in the country with a minimum investment of USD 500 million. Clarifications were made by the Indian government that this new policy also applies to Chinese EV carmakers, but many of these Chinese EV corporations will remain at large given the serious tension arising from regional rivalry and borders conflicts.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Picture10-1028x770.png\")
Conclusion
\n\n\n\nSeveral 2021 Merics analysts\u2019 predictions \u2013 that China would become a major automotive export hub, that Europe would be the main market for Chinese EV exporters, that the Chinese government would issue directives, put pressure and support Chinese and China-based foreign carmakers to export, that Chinese manufacturers would move up the EVs value chain, that Chinese companies\u2019 overseas investments and partnerships would make them global [successful] competitors, that government subsidies for China-based manufacturers could distort global markets \u2013 became true.
\n\n\n\nThe internationalization of Chinese EVs is global, albeit giving priority to markets with higher income and demand for EVs.
\n\n\n\nThe internationalization of Chinese EVs is subject to political decisions at home and abroad, often influenced by geopolitical concerns.
\n\n\n\nIn several cases, of which BYD is a good example, the integration of upstream stages in the EVs value chain (producing its own EV batteries and its components as well as refining the critical metals needed for EV batteries), creates bigger operating margins that provide greater price elasticity and makes Chinese EVs very competitive.
\n\n\n\nInternationalization of Chinese EVs will continue to be made on a dual track \u2013 via exports of certified models and via investments in local EV plants.
\n\n\n\nHigh(er) tariffs on imported EVs to protect domestic automotive industries \u2013 as is the case in the US, the EU, Brazil and Thailand \u2013 are likely to continue.
\n\n\n\nThe impact of higher tariffs on imported EVs is not clear but it is likely to reduce [the pace of] exports of Chinese EV models of such relevant markets.
\n\n\n\nAlthough higher tariffs will make some Chinese EV carmakers (e.g., XPeng) hesitate to go ahead with planned EV plants in said protected markets, such investments likely will be a necessary cost to maintain access to some of those markets, namely in Europe.
\n\n\n\nIn some markets where higher tariffs are but a tool arising from a clear political will of not allowing Chinese EV carmakers to enter the national market \u2013 as seems to be the case of the US and India \u2013 it is unlikely that Chinese EV will be successful in penetrating such markets; in some cases (US), commitments on investments in local EV plants will probably not be authorized.
\n\n\n\nNonetheless, even with the recently announced imposition of US, EU and Brazil higher tariffs on EVs from China (and, in the case of the US, from 2030 also from Southeast Asia), a fast pace for the internationalization of Chinese EV carmakers is inevitable in every relevant market and hard times lie ahead for European, American, Japanese and Korean automakers.
\n", "content_text": "Jorge Costa Oliveira – Partner and CEO of JCO Consultancy \n\n\n\nBy Jorge Costa Oliveira\n\n\n\nPartner and CEO of JCO Consultancy\n\n\n\n\n\n\n\nWell-defined public policies (including significant government incentives \u2013 purchase subsidies, tax incentives and favourable licensing plates), good government and business planning in creating an integrated value chain in the electric storage and mobility sectors, and the absence of entropies created by radical environmentalist activism, all these factors converged to make China the largest market in the production (45%) and consumption (60%) of electric vehicles (EV). It should be noted that it is not only Chinese brands (BYD, Great Wall, SAIC, BAIC, Changan, Chery, Geely, XPeng, NIO) that produce EV in China; many foreign brands (Tesla, Ford, GM, BMW, VW, Mercedes, Audi, Renault, Volvo, Jaguar Land Rover, Nissan) also have EV plants within China, producing for the Chinese domestic market, but also for export. Value chain integration \u2013 from the refining of critical metals to the production of electric cells, cathodes, anodes, to gigafactories and EV assemblers \u2013 low production costs, the abovementioned government incentives and effective competition, have enabled the production of EVs in China to be significantly cheaper than in the US and Europe. According to some industry experts, production in China can shave up to \u20ac10,000 off the cost of an EV. In 2022, electric battery prices were 24% lower in China than in the U.S.\n\n\n\n\n\n\n\nMeanwhile, in the Chinese domestic EV market, demand growth is slowing down (+90% in 2022, +36% in 2023, +22% in 2024) and competition is fierce (with a price war that has lasted for more than a year). Furthermore, several western institutions consider that China\u2019s EV industry is at overcapacity, producing annually an excess of 5 to 10 million EVs beyond domestic demand, forcing China to find new markets to fuel continued growth.\n\n\n\nInternationalisation has become an essential facet for all EV producers in China, focused on key potential consumer markets. Thus far, the internationalisation of Chinese EVs has been made mainly via exports. The growth of EV exports was the key factor for China\u2019s reversion of its automotive trade balance; since mid-2022, vehicle exports have continuously outperformed imports. This trend was catalysed by China-produced vehicle exports to Russia amid the retreat of western corporations from this market since Ukraine\u2019s invasion.\n\n\n\n\n\n\n\nOverall, the Association of European Vehicle Logistics (ECG), citing data from the China Association of Automobile Manufacturers (Caam), reports that Chinese [all] vehicle exports rose >1.3m in Q1 2024 (76.8% ICE, 23.2% NEVs), up 33% from Q1 2023, with leading markets being Russia (112,000 units), Mexico (66,000), Belgium (42,000) and the UK (38,000). The main Chinese carmakers exporters were Chery (with 253,000 units), SAIC (206,000), Changan (145,000), Geely (111,000), BYD (99,000), Great Wall (93,000) and Tesla (88,000).\n\n\n\nThe main destination market for Chinese-produced EVs is Europe, followed by Asia; there is little penetration in the North American and Latin American markets (although growing fast in Brazil). Chinese EV brands avoid exporting to the US, which has a 27.5% tariff on automobiles imported from China (soon to be increased to 100%) and tie EV tax credits to local incorporation requirements. The majority of EVs exported from China are destined for Europe due to high demand in the region, high European per capita income, high local EV prices, low European customs tariffs, and substantial government subsidies for EVs, regardless of its origin.\n\n\n\n\n\n\n\nTo understand the competitiveness of Chinese EV brands, a recent report by Rhodium Group gives the example of BYD’s Seal U model that sells for \u20ac21,770 in China and \u20ac41,990 in the EU. Not only are Chinese automakers rapidly gaining shares of the European EV market (especially in the lower-priced segments), but they are making higher profits in Europe. Elon Musk\u2019s prediction that Chinese carmakers would \u2018demolish\u2019 global rivals is coming true in literally every market (hence the 100% tariff imposed by the US government).\n\n\n\n\n\n\n\nAccording to the European Automobile Manufacturers’ Association (ACEA), China maintained its position as the leading source of new car imports to the EU in terms of value, with a growth of 37.1% and a market share of 17.7%. A significant portion of this growth is due to EVs. According to the European Federation for Transport and Environment (T&E), EVs manufactured in China are expected to account for 25% of total EV sales in Europe in 2024 (+5% compared to 2023).\n\n\n\n\n\n\n\nT&E projections estimate that [among the EVs manufactured in China] Chinese brands will progressively gain bigger market shares \u2013 11% by 2024 and 20% until 2027. However, it is important to clarify what \u201cChinese brands\u201d means. In 2023, Chinese brands only represented a 2.5% market share of the European market last year, with 72% of that share belonging to MG, a British car brand controlled by the Chinese group SAIC Motor, MG being today a fully Chinese brand from production to design. Without MG, Chinese brands have only a 0.6% market share in Europe. This discrepancy arises from the fact that most vehicles imported from China to Europe are not Chinese brand vehicles but rather vehicles manufactured in China by foreign brands. Tesla alone accounts for 68% of the EVs imported from China and registered in Western Europe.\n\n\n\n\n\n\n\nFollowing an investigation launched by the European Commission on \u201cunfair subsidization\u201d of China-produced EVs\u2019, the currently low EU customs tariffs (10%) are going to be increased to up to 38% (on BYD: 17,4%; on Geely: 20%; on SAIC: 38,1%; on other BEV producers in China, which cooperated in the investigation but have not been sampled: 21%; on all other BEV producers in China which did not cooperate in the investigation: 38,1%). It is not clear the effect that such an increase will have on European consumers demand for China-produced EVs, but it is likely to slow down the [fast] penetration they were having.\n\n\n\n\n\n\n\nGiven the high tariffs already imposed in many relevant markets (e.g., India, Thailand, Brazil) to protect local automobile industries and the high probability that the EU would raise its tariffs (and eventually impose non-tariff obstacles), Chinese EV producers have planned to and are gradually setting up plants in several countries outside China.\n\n\n\nJourney to the West – the European Market\n\n\n\nThe growing decoupling between China and the US has refrained Chinese EV producers from venturing into US-based production. Only Polestar \u2013 a luxury EV brand owned by Geely \u2013 has an investment in an EV plant, scheduled to start production in South Carolina in 2024 (it is so far the only brand selling in the US China-produced EVs).\n\n\n\nThe main market where Chinese-branded EV companies plan to set up plants is Europe. BYD will have its first European plant investment in Hungary, and announced it is considering a second European plant in 2025. It is also likely that Great Wall Motors will make its first European plant in Hungary (negotiations concerning government incentives, including tax breaks, to attract foreign investment and for job creation, are under way). These investments are in line with sizable investments (and government incentives) for gigafactories in the country, to be made by South Korean groups SK On and Samsung SDI and Chinese battery giant CATL.\n\n\n\nSpain, Europe\u2019s second largest car-making country after Germany, has secured investment from Chery, which will start production in the fourth quarter at a former Nissan facility in Barcelona, via a partnership with Spanish EV Motors. Chery is expected to benefit from Spain\u2019s 3.7 billion-euro programme launched in 2020 to attract EV and battery plants.\n\n\n\nChina\u2019s Envision Group has already received 300 million euros in incentives under the scheme for a 2.5 billion battery plant creating 3,000 jobs. Spain might also host Stellantis\u2019 planned fourth gigafactory in Europe, with CATL.\n\n\n\nPoland will have an EV plant to be made, in Tychy, by a partnership of China’s Leapmotor and Franco-Italian Stellantis.\n\n\n\nChery is mulling over plans to establish a plant in the UK as it begins to launch its Omoda and Jaecoo brands, following in the footsteps of several Chinese-owned gigafactories producing electric batteries in the country.\n\n\n\nAccording to Reuters, Chery plans a second, larger facility in Europe, a source with knowledge of the company’s plans told, and has held talks with governments, including the Italian one, which is keen to attract a second automaker to rival Fiat-maker Stellantis.\n\n\n\nItaly can tap its national automotive fund, worth 6 billion euros between 2025 and 2030, for incentives for both car buyers and manufacturers. China\u2019s Dongfeng is among several other automakers that have held investment discussions with Rome.\n\n\n\nStill, according to Reuters, SAIC, owner of the MG brand, aims to build two Europe plants. The first, based at an existing facility, could be announced as early as July and would employ a kit-assembly technique, targeting annual production of up to 50,000 vehicles. SAIC\u2019s second European plant would be completely greenfield and produce up to 200,000 vehicles annually. Germany, Italy, Spain and Hungary are reported to be on SAIC’s location shortlist.\n\n\n\nBYD, Chery, SAIC and Great Wall are also looking for attractive locations in Eastern Europe and Turkey (its Association Agreement with the EU creates a customs union, and the country has several free trade agreements with non-EU countries) to set up plants for lower-cost vehicles.\n\n\n\nTurkey is reported to be in advanced negotiations with BYD and Chery for EV plants investments in the country. The Turkish government says that separate negotiations are also underway with SAIC Motor, which owns MG, and Great Wall Motor.\n\n\n\nOvercoming shipping issues\n\n\n\nIn 2023, prices for car shipping carriers increased by up to 700% compared to 2019; Houthi attacks in the Red Sea further exacerbated them. A perception of shortage of shipping carriers [capacity] and inflated costs stemming from the war in Ukraine led Chinese EV carmakers and associated shipping companies to place orders for a significant number of new car carrier ships. According to the abovementioned report by the Rhodium Group, the combined capacity of these ships will allow the shipment of an estimated 560,000 cars annually to Europe in 2025, based on six trips a year (in 2023 the EU imported 472,000 EVs from China). Said capacity could surge to 1.7 million cars in 2026. \u201cIn the unlikely case that all ships were used for transporting cars to Europe, the volumes exported from China would likely be enough to capture 50% of the EU\u2019s EV market\u201d. The decision to purchase rather than lease these car-shipping carriers shows the long-term commitment of Chinese EV producers to export large quantities of cars.\n\n\n\n\n\n\n\n\n\n\n\nJourney to SE Asia\n\n\n\nThe other relevant market where Chinese-branded EV companies plan to set up plants is Southeast Asia.\n\n\n\nAccording to a Counterpoint analyst, \u201cover 70% of EV sales in [Southeast Asia] are from Chinese brands, led by BYD\u201d. Thailand is the main destination market in SE Asia, accounting for 79% of ASEAN EV sales. Several major Chinese EV manufacturers have already established or announced plans to invest in Thailand. Great Wall Motors operates an EVs plant in Rayong province that produces its Ora brand. The company also plans to build a battery factory and an R&D centre in Thailand. BYD (in cooperation with Rever Automotive) also has a plant in Rayong that produces EVs and batteries. Chongqing Changan Automobile intends to invest 10 billion baht ($290 million) to set up an EV production facility in Chonburi province. The company expects to start production in 2024 and sell its vehicles under the Kaicene brand. GAC Aion plans to invest 6.2 billion baht ($180 million) to build an EV plant in Chachoengsao province. The company targets to begin production in 2024 and launch its Aion V model in Thailand. Hozon New Energy Automobile (in partnership with a local firm, Yontrakit Group) will start production of its Neta brand of EVs in Thailand in 2024. In 2023, SAIC Motor, in cooperation with Charoen Pokphand Group (CP), opened its first battery plant for EV in Chonburi province. SAIC Motor-CP said it intended to start making MG BEVs in Thailand.\n\n\n\nSeveral Chinese EV brands are also scheduled to be produced in Malaysia. Hozon New Energy Automobile announced investments to produce the Neta brand in Malaysia. Changan Automobile Corporation (in partnership with Fieldman EV Sdn Bhd (FEV)) plans to build the Eado EV460 model in Lipat Kajang, Jasin, Melaka. Chery also plans to produce its EQ1 model in Malaysia. BYD (in partnership with CSH Alliance) will assemble (CKD) the BYD T3 electric van in Tanjung Malim, Perak. \n\n\n\nEven in Vietnam, home to the successful VinFast EV carmaker, BYD and Haima announced plans to build plants to produce car parts and plants to assemble EVs. \n\n\n\nIn Indonesia (by far the most populous SE Asian country, but with a low GDP per capita), PT Neta Auto (a subsidiary of Chinese firm Hozon Auto), in partnership with PT Handal Indonesia Motor (HIM), has started the production of Neta’s latest model, the Neta V-II (on a CKD basis) in Bekasi, West Java. Neta V-II is powered by LFP batteries from Chinese battery maker Gotion High-tech, a battery pack that, according to Neta Auto, has 44% of its components produced in Indonesia. BYD announced in January 2024 that it will make an EV plant in Indonesia, following a previous intention of building an electric bus assembly plant and, eventually, a battery manufacturing factory in Indonesia. Chinese EV maker Aion announced in April 2024 that plans to make an EV plant in Indonesia (in partnership with Indomobil Group).\n\n\n\nIndonesia has also great potential to become a production hub for EV batteries given the abundant nickel ore natural resources in the country. Many EV carmakers, namely from China, are keen to enter upstream in the supply chain for EVs and automotive batteries including the mining and refining of nickel ore, producing precursors and cathode materials.\n\n\n\nJourneys to other geographies\n\n\n\nAlthough Europe and ASEAN are the main markets in the internationalization path of Chinese EV carmakers, the main producers are also expanding into other relevant geographies.\n\n\n\nIn Central Asia, the Kazakhstan government, unveiled (on March 2023) that it reached an agreement [with Chery and ZEEKR] for the construction of EV plants for the production of Exeed and Geely car models, with a planned capacity of 80,000 finished vehicles.\n\n\n\nIt is noteworthy the sizable investment by BYD [Europe] (in partnership with Uzavtosanoat) in the Jizzakh region, in Uzbekistan, for an EV plant using initially the CKD method. Chinese firm Henan Suda signed a deal with Uzbekistan\u2019s Energy Ministry to build upwards of 50,000 electric vehicle charging stations around the country by 2033. \n\n\n\nIn Latin America, thus far, Chinese EV carmakers have focused in Brazil and in Mexico. In Brazil, Chinese EV carmakers are already the EV market leaders, and they appear set to capitalize on the rapidly growing market for EVs in the country. EV sales in Brazil were up 145% in the first three months of 2024, according to the Brazilian Electric Vehicle Association, with BYD and Great Wall Motors leading the pack on EV sales in Brazil, the world\u2019s sixth-largest auto market. Like the US and the EU, Brazil has raised tariffs on all imported EVs, which should reach 35% in 2026.\n\n\n\nGreat Wall and BYD have both pledged to build EV factories in the country. BYD estimates that its Cama\u00e7ari complex (a former Ford cars plant) will be able to churn out 150,000 vehicles per year once it opens, while Great Wall’s plant in Iracem\u00e1polis (a former Mercedes-Benz cars plant) could produce 100,000 vehicles annually. Following its business model in China, BYD is trying to recreate an integrated supply chain in Brazil (and Chile), reportedly holding talks about taking over one of the country’s lithium producers.\n\n\n\nBYD committed to make an EV plant in Central Mexico. SAIC also plans to build an EV plant in the country, to produce locally MG-branded vehicles. Jetour (in alliance with the LDR company), another Chinese EV automaker, also announced large investments in Mexico (in Aguascalientes and/or Guanajuato) for a dual assembly plant \u2013 it will produce both combustion vehicles (ICE) and EVs. Chery is also mentioned in the media as being engaged in discussions with Mexican authorities over the setting up of EV car assembly plants.\n\n\n\nA report from the \u2018Alliance for American Manufacturing\u2019, released in February 2024, describes as \u201calarming\u201d the Chinese focus on building plants in Mexico. \u201cThey can access the US by way of the more favourable tariffs [2.5%] under the USMCA. This strategy is, in effect, an effort to gain backdoor access to American consumers by circumventing existing policies that are keeping China\u2019s autos out of the US market.\u201d The Alliance expressed concern that \u201cthe introduction of cheap Chinese autos \u2013 which are so inexpensive because they are backed with the power and funding of the Chinese government \u2013 to the American market could end up being an extinction-level event for the US auto sector\u201d. Reuters reported, on April 2024, that the Mexico’s federal government, under pressure from the US authorities, is keeping Chinese automakers at arm’s length by refusing to offer such incentives as low-cost public land or tax cuts for investment in EV production.\n\n\n\nIn the Middle East, in 2022 Enovate Motors, a Chinese EV start-up, announced it would make (in partnership with Saudi Sumou Holding) an EV plant in Saudi Arabia. On mid-2023 Saudi Arabia’s Ministry of Investment agreed with Chinese EV carmaker Human Horizons a mega-deal of $5.6 billion to collaborate on the development, manufacture and sale of vehicles. These investments in the new plants made by Chinese-based EV automakers in Saudi Arabia are expected to serve the surrounding region.\n\n\n\nIn India, BYD, which entered the Indian passenger vehicle market in 2021, currently offers two products in its India portfolio \u2013 Atto3 SUV and e6 MPV \u2013 which are imported and assembled at its plant in Chennai. However, on mid-2023, a proposal by BYD (in partnership with Hyderabad-based Megha Engineering and Infrastructures) to make another EV plant, in Hyderabad (the proposal included a plan to set up charging stations in India and build research and development and training centres) was refused by the Indian government on \u201csecurity concerns with respect to Chinese investments in India\u201d. More recently, the Indian government changed its approach. On March 2024, the new EV policy approved by Indian government, allows import duty concessions (a limited number of cars costing USD >35,000 will be subject to lower customs/import duty of 15% for five years) to be given to foreign companies setting up manufacturing units in the country with a minimum investment of USD 500 million. Clarifications were made by the Indian government that this new policy also applies to Chinese EV carmakers, but many of these Chinese EV corporations will remain at large given the serious tension arising from regional rivalry and borders conflicts.\n\n\n\n\n\n\n\nConclusion\n\n\n\nSeveral 2021 Merics analysts\u2019 predictions \u2013 that China would become a major automotive export hub, that Europe would be the main market for Chinese EV exporters, that the Chinese government would issue directives, put pressure and support Chinese and China-based foreign carmakers to export, that Chinese manufacturers would move up the EVs value chain, that Chinese companies\u2019 overseas investments and partnerships would make them global [successful] competitors, that government subsidies for China-based manufacturers could distort global markets \u2013 became true.\n\n\n\nThe internationalization of Chinese EVs is global, albeit giving priority to markets with higher income and demand for EVs.\n\n\n\nThe internationalization of Chinese EVs is subject to political decisions at home and abroad, often influenced by geopolitical concerns.\n\n\n\nIn several cases, of which BYD is a good example, the integration of upstream stages in the EVs value chain (producing its own EV batteries and its components as well as refining the critical metals needed for EV batteries), creates bigger operating margins that provide greater price elasticity and makes Chinese EVs very competitive.\n\n\n\nInternationalization of Chinese EVs will continue to be made on a dual track \u2013 via exports of certified models and via investments in local EV plants.\n\n\n\nHigh(er) tariffs on imported EVs to protect domestic automotive industries \u2013 as is the case in the US, the EU, Brazil and Thailand \u2013 are likely to continue. \n\n\n\nThe impact of higher tariffs on imported EVs is not clear but it is likely to reduce [the pace of] exports of Chinese EV models of such relevant markets. \n\n\n\nAlthough higher tariffs will make some Chinese EV carmakers (e.g., XPeng) hesitate to go ahead with planned EV plants in said protected markets, such investments likely will be a necessary cost to maintain access to some of those markets, namely in Europe.\n\n\n\nIn some markets where higher tariffs are but a tool arising from a clear political will of not allowing Chinese EV carmakers to enter the national market \u2013 as seems to be the case of the US and India \u2013 it is unlikely that Chinese EV will be successful in penetrating such markets; in some cases (US), commitments on investments in local EV plants will probably not be authorized.\n\n\n\nNonetheless, even with the recently announced imposition of US, EU and Brazil higher tariffs on EVs from China (and, in the case of the US, from 2030 also from Southeast Asia), a fast pace for the internationalization of Chinese EV carmakers is inevitable in every relevant market and hard times lie ahead for European, American, Japanese and Korean automakers.", "date_published": "July 20, 2024", "date_modified": "July 20, 2024 - 23:34", "author": { "name": "Jorge Costa Oliveira", "url": "https://www.macaubusiness.com/author/jcoliveira/", "avatar": "https://secure.gravatar.com/avatar/61f6addb50097930d533e4bbee2df34b?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2022/09/Chinese-carmaker-BYD.jpg", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured", "Opinion" ], "summary": "ANALYSIS - The internationalization of China\u2019s Electric Vehicles " }, { "id": "https://www.macaubusiness.com/mbtv-the-indian-women-campaigning-to-criminalise-marital-rape/", "url": "https://www.macaubusiness.com/mbtv-the-indian-women-campaigning-to-criminalise-marital-rape/", "title": "MBtv: The Indian women campaigning to criminalise marital rape", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/maxresdefault-43-150x150.jpg\")
\nRaped by her husband on her wedding night aged 17, Divya described her repeated suffering an all-too-common account in India, permitted by a terrifying colonial-era legal loophole.
\n\n\n\n\n", "content_text": "Raped by her husband on her wedding night aged 17, Divya described her repeated suffering an all-too-common account in India, permitted by a terrifying colonial-era legal loophole.", "date_published": "July 20, 2024", "date_modified": "July 20, 2024 - 23:42", "author": { "name": "MBeditor", "url": "https://www.macaubusiness.com/author/mbeditor/", "avatar": "https://secure.gravatar.com/avatar/3c44cd47c38b159ae5d5c00312d0cc21?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/maxresdefault-43.jpg", "tags": [ "Documentaries", "International", "Macau", "MB.tv", "MB.tv Featured" ], "summary": "Raped by her husband on her wedding night aged 17, Divya described her repeated suffering an all-too-common account in India, permitted by a terrifying colonial-era legal loophole." }, { "id": "https://www.macaubusiness.com/restaurants-retailers-see-growth-in-receipts-in-may-expectations-for-june-still-dim/", "url": "https://www.macaubusiness.com/restaurants-retailers-see-growth-in-receipts-in-may-expectations-for-june-still-dim/", "title": "Restaurants & retailers see growth in receipts in May, expectations for June still dim", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_5009-150x150.jpeg\")
\nLocal restaurants saw a 5.5 per cent increase in receipts month-on-month in May, while retailers also recorded a month-on-month sales rise of 5.3 per cent, according to the latest data published by the Statistics and Census Service on Friday.
\n\n\n\nWhen compared to May 2023, the receipts of the respondents declined by 5.9 per cent in May 2024. Meanwhile, the sales of the surveyed retailers slipped by 25.9 per cent year-on-year.
\n\n\n\nAs regards the business expectations for June, 38 per cent of the respondents forecast a month-on-month fall in receipts, and only 10 per cent of the interviewed predicted a receipts increase.
\n\n\n\nFor the retail trade sector, 35 per cent of the interviewed retailers expected a month-on-month sales drop in June, while around 19 per cent anticipated sales growth in June.
\n\n\n\nThe Business Outlook Index (BOI) that reflects the trend of month-on-month changes in receipts anticipated by the interviewed establishments was lower than 50 both for restaurants and retailers, indicating a less favourable business outlook month-on-month.
\n", "content_text": "Local restaurants saw a 5.5 per cent increase in receipts month-on-month in May, while retailers also recorded a month-on-month sales rise of 5.3 per cent, according to the latest data published by the Statistics and Census Service on Friday.\n\n\n\nWhen compared to May 2023, the receipts of the respondents declined by 5.9 per cent in May 2024. Meanwhile, the sales of the surveyed retailers slipped by 25.9 per cent year-on-year.\n\n\n\nAs regards the business expectations for June, 38 per cent of the respondents forecast a month-on-month fall in receipts, and only 10 per cent of the interviewed predicted a receipts increase.\n\n\n\nFor the retail trade sector, 35 per cent of the interviewed retailers expected a month-on-month sales drop in June, while around 19 per cent anticipated sales growth in June.\n\n\n\nThe Business Outlook Index (BOI) that reflects the trend of month-on-month changes in receipts anticipated by the interviewed establishments was lower than 50 both for restaurants and retailers, indicating a less favourable business outlook month-on-month.", "date_published": "July 19, 2024", "date_modified": "July 19, 2024 - 19:25", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_5009.jpeg", "tags": [ "Macau", "MNA" ], "summary": "Local restaurants saw a 5.5 per cent increase in receipts month-on-month in May, while retailers also recorded a month-on-month sales rise of 5.3 per cent, according to the latest data published by the Statistics and Census Service on Friday." }, { "id": "https://www.macaubusiness.com/international-arrivals-67-pct-of-2019-level-1-17-mln-visitors-1-5x-yoy-growth/", "url": "https://www.macaubusiness.com/international-arrivals-67-pct-of-2019-level-1-17-mln-visitors-1-5x-yoy-growth/", "title": "International arrivals: 67 pct of 2019 level, 1.17 mln visitors, 1.5x YoY growth", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/450317073_795599612746236_8486139352874957811_n-150x150.jpg\")
\nInternational visitor arrivals have recovered to 67 per cent of the 2019 level, totalling some 1.17 million, 1.5 times more than there were a year ago.
\n\n\n\nAccording to a Friday update from the Statistics and Census Service, a total of 16.72 million tourist arrivals were recorded in the first half, suggesting an increase of 43.6 per cent.
\n\n\n\nThat figure accounts for 82.4 per cent of the 2019 level, with 46.8 per cent of the total having spent more than one night in the city, up 29 per cent year on year.
\n\n\n\nThe overnight tourists spent an average of 2.3 days.
\n\n\n\n69 per cent of the total came from mainland China, with those from the 10 new additions to the Individual Visit Scheme saw a year-on-year rise of 31.8 per cent to 5,950,165.
\n\n\n\nBelow is a year-on-year breakdown of the international tourism pie:
\n\n\n\nSoutheast Asia
\n\n\n\nThe Philippines: 234,336, up 105.1 per cent
Indonesia: 91,953, up 58.2 per cent
Malaysia: 85,122, up 199.9 per cent
Thailand: 74,420, up 146.7 per cent
East Asia
\n\n\n\nSouth Korea: 231,859, up 400.4 per cent
Japan: 61,870, up 178.7 per cent
North America
\n\n\n\nUnited States: 69,566, up 129.4 per cent
\n\n\n\nOn a recent occasion, Maria Helena de Senna Fernandes, director of the Tourism Office, expressed optimism over the possibility of surpassing the full-year target of 33 million.
\n", "content_text": "International visitor arrivals have recovered to 67 per cent of the 2019 level, totalling some 1.17 million, 1.5 times more than there were a year ago. \n\n\n\nAccording to a Friday update from the Statistics and Census Service, a total of 16.72 million tourist arrivals were recorded in the first half, suggesting an increase of 43.6 per cent. \n\n\n\nThat figure accounts for 82.4 per cent of the 2019 level, with 46.8 per cent of the total having spent more than one night in the city, up 29 per cent year on year.\n\n\n\nThe overnight tourists spent an average of 2.3 days. \n\n\n\n69 per cent of the total came from mainland China, with those from the 10 new additions to the Individual Visit Scheme saw a year-on-year rise of 31.8 per cent to 5,950,165.\n\n\n\nBelow is a year-on-year breakdown of the international tourism pie:\n\n\n\nSoutheast Asia\n\n\n\nThe Philippines: 234,336, up 105.1 per cent Indonesia: 91,953, up 58.2 per cent Malaysia: 85,122, up 199.9 per centThailand: 74,420, up 146.7 per cent \n\n\n\nEast Asia\n\n\n\nSouth Korea: 231,859, up 400.4 per cent Japan: 61,870, up 178.7 per cent\n\n\n\nNorth America\n\n\n\nUnited States: 69,566, up 129.4 per cent\n\n\n\nOn a recent occasion, Maria Helena de Senna Fernandes, director of the Tourism Office, expressed optimism over the possibility of surpassing the full-year target of 33 million.", "date_published": "July 19, 2024", "date_modified": "July 19, 2024 - 19:26", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/450317073_795599612746236_8486139352874957811_n.jpg", "tags": [ "Macau", "MNA", "MNA Featured" ], "summary": "International visitor arrivals have recovered to 67 per cent of the 2019 level, totalling some 1.17 million, 1.5 times more than there were a year ago." }, { "id": "https://www.macaubusiness.com/zhuhai-authorities-talk-with-costco-over-new-store-location/", "url": "https://www.macaubusiness.com/zhuhai-authorities-talk-with-costco-over-new-store-location/", "title": "Zhuhai authorities talk with Costco over new store location", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/81f93ade0bfbe2871b70b6844e698b71-150x150.png\")
\n
The Zhuhai government is in talks with Costco Wholesale to set up a store in Zhuhai, Guangdong local media southcn.com reported on Thursday.
According to the report, the city’s central business zone, Xiangzhou District, has been negotiating with Costco on the construction of the Zhuhai store, while representatives from the brand have visited Zhuhai to conduct on-site research and evaluate potential locations.
\n\n\n\nThe anonymous government source revealed that the project is still at an early stage and a final decision on the location has yet to be made.
\n\n\n\nIn the recently released 2024 Economic Development Plan for Xiangzhou District, the Zhuhai authorities emphasised the importance of capitalising on the opportunities presented by the Macau-Hong Kong northbound traffic scheme.
\n\n\n\nThey also highlighted the introduction of wholesale membership stores in Zhuhai to attract travellers from the two SARs for cross-border shopping.
\n\n\n\nOnce the new Costco store opens in Zhuhai, it will be the seventh Costco store in China, following the opening of other stores in Shanghai, Suzhou, Ningbo, Hangzhou and Shenzhen.
\n\n\n\nEarlier in March, Zhuhai authorities announced their intention to bring a Costco wholesale store to the city by “taking advantage of the Hong Kong-Zhuhai-Macau Bridge policy”.
\n\n\n\nSince the northbound travel scheme came into effect in 2023, hundreds of thousands of Macau and Hong Kong residents have flocked to Zhuhai and Shenzhen for shopping and entertainment.
\n\n\n\nUnder the scheme, registered residents of Macau and Hong Kong are allowed to travel to Guangdong province via the Hong Kong-Zhuhai-Macau Bridge.
\n\n\n\nAttracted by more affordable groceries and wholesale warehouses, Sam’s Club Zhuhai, the only American wholesale membership store currently operating in the city, has become one of the city’s major attractions for Macau and Hong Kong tourists.
\n\n\n\nData shows that Sam’s Club Zhuhai’s sales grew significantly in 2023, reaching RMB2.5 billion (MOP2.8 billion/US$347 million), making it the seventh highest-grossing Sam’s Club store out of the 800 stores worldwide.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/01/5_imagem-150x150.jpg\")
\nMacau’s casino market has appeared to be recovering at a slower pace in 2024, with a decline in the number of junket promoters attributed to the slowdown.
\n\n\n\nAccording to CreditSights under Fitch Group, \u201cflattening trends\u201d are expected in the remainder of 2024 as the ongoing gaming recovery \u201cmatures\u201d.
\n\n\n\nCiting data from the city\u2019s gaming watchdog, the financial researcher says that the gross gaming revenue (GGR) last year recovered to 63 per cent of the 2019 level.
\n\n\n\nHowever, the pace of improvement continued into 2024 at lower speed. In the second quarter, 77 per cent of the comparable 2019 level was reached, slightly up from 75 per cent in the preceding quarter.
\n\n\n\n\u201cWe attribute this to the near extinction of junket-promoters which has meaningfully impacted the recovery for VIP GGR,\u201d analyst David Bussey wrote in a recent note.
\n\n\n\nMacau authorities have decided to allow 50 junket companies to run in 2025, a cap unchanged from this year.
\n\n\n\nHowever, as of June this year, only 22 are registered with the city\u2019s gaming watchdog.
\n\n\n\nVisitation, meanwhile, is also experiencing a slowdown. The year-to-date figure, up until May, is tracking at 82 per cent of the levels observed in 2019. However, from April to May, the visitation reached 79 per cent of the 2019 levels \u2013 slightly lower compared to 86 per cent in the first quarter.
\n\n\n\nVIP-mass dynamics
\n\n\n\nAccording to CreditSights analysis, Baccarat games are the largest contributor to GGR, accounting for approximately 85 percent of the total.
\n\n\n\nIn the first quarter of 2024, mass baccarat revenue reached 116 per cent of the 2019 levels, while that of VIP baccarat reached 39 per cent only.
\n\n\n\n\u201cWhile the loss of junkets will likely hinder a full recovery to pre-pandemic GGR (at least in near-to-medium term), it has benefited margins,\u201d the analyst wrote.
\n\n\n\n\u201cFor junket-sourced VIP players, casino operators pay a commission to the junkets in addition to covering the operating costs for VIP rooms (labor, utility, etc.). This has historically made mass-market players a higher-margin demographic,\u201d Bussey added.
\n\n\n\nEven without the absence of the promoters of high-stake rollers, there has been a consistent rebound in spending per visitor, the analysis suggests.
\n\n\n\nIn 2023, GGR per visitor amounted to about USD805 \u2013 or about 88 per cent of the 2019 level of US920.
\n\n\n\nThe year-to-date figure, up until May, is tracking at around US841, a 93 percent recovery compared to 2019.
\n", "content_text": "Macau’s casino market has appeared to be recovering at a slower pace in 2024, with a decline in the number of junket promoters attributed to the slowdown.\n\n\n\nAccording to CreditSights under Fitch Group, \u201cflattening trends\u201d are expected in the remainder of 2024 as the ongoing gaming recovery \u201cmatures\u201d.\n\n\n\nCiting data from the city\u2019s gaming watchdog, the financial researcher says that the gross gaming revenue (GGR) last year recovered to 63 per cent of the 2019 level.\n\n\n\nHowever, the pace of improvement continued into 2024 at lower speed. In the second quarter, 77 per cent of the comparable 2019 level was reached, slightly up from 75 per cent in the preceding quarter. \n\n\n\n\u201cWe attribute this to the near extinction of junket-promoters which has meaningfully impacted the recovery for VIP GGR,\u201d analyst David Bussey wrote in a recent note. \n\n\n\nMacau authorities have decided to allow 50 junket companies to run in 2025, a cap unchanged from this year.\n\n\n\nHowever, as of June this year, only 22 are registered with the city\u2019s gaming watchdog.\n\n\n\nVisitation, meanwhile, is also experiencing a slowdown. The year-to-date figure, up until May, is tracking at 82 per cent of the levels observed in 2019. However, from April to May, the visitation reached 79 per cent of the 2019 levels \u2013 slightly lower compared to 86 per cent in the first quarter.\n\n\n\nVIP-mass dynamics\n\n\n\nAccording to CreditSights analysis, Baccarat games are the largest contributor to GGR, accounting for approximately 85 percent of the total. \n\n\n\nIn the first quarter of 2024, mass baccarat revenue reached 116 per cent of the 2019 levels, while that of VIP baccarat reached 39 per cent only. \n\n\n\n\u201cWhile the loss of junkets will likely hinder a full recovery to pre-pandemic GGR (at least in near-to-medium term), it has benefited margins,\u201d the analyst wrote.\n\n\n\n\u201cFor junket-sourced VIP players, casino operators pay a commission to the junkets in addition to covering the operating costs for VIP rooms (labor, utility, etc.). This has historically made mass-market players a higher-margin demographic,\u201d Bussey added.\n\n\n\nEven without the absence of the promoters of high-stake rollers, there has been a consistent rebound in spending per visitor, the analysis suggests. \n\n\n\nIn 2023, GGR per visitor amounted to about USD805 \u2013 or about 88 per cent of the 2019 level of US920. \n\n\n\nThe year-to-date figure, up until May, is tracking at around US841, a 93 percent recovery compared to 2019.", "date_published": "July 19, 2024", "date_modified": "July 19, 2024 - 14:06", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/01/5_imagem.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's casino market has appeared to be recovering at a slower pace in 2024, with a decline in the number of junket promoters attributed to the slowdown." }, { "id": "https://www.macaubusiness.com/hong-kongs-dr-fauci-sounds-alarm-on-next-pandemic/", "url": "https://www.macaubusiness.com/hong-kongs-dr-fauci-sounds-alarm-on-next-pandemic/", "title": "\u2018Hong Kong\u2019s Dr Fauci\u2019 sounds alarm on next pandemic", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Yuen-Kwok-yung-150x150.png\")
\nHong Kong microbiologist Yuen Kwok-yung has done battle with some of the world’s worst threats, including the SARS virus he helped isolate and identify. And he has a warning.
\n\n\n\nAnother pandemic is inevitable and could exact damage far worse than Covid-19, according to the soft-spoken scientist sometimes thought of as Hong Kong’s answer to top US health expert Anthony Fauci.
\n\n\n\n“Both the public and (world) leaders must admit that another pandemic will come, and probably sooner than you anticipate,” he told AFP at the city’s Queen Mary Hospital, where he works and teaches.
\n\n\n\n“Why I make such a horrifying prediction is because you can see clearly that the geopolitical, economic, and climatic changes are changing so rapidly,” he told AFP.
\n\n\n\nPoliticians must “come to their senses” and solve “global existential threats,” he warns in his new autobiography “My Life in Medicine: A Hong Kong Journey”.
\n\n\n\nWhile world leaders are more focused on “national or regional interests”, Yuen said a rapidly changing climate coupled with emerging infectious diseases should be a top priority.
\n\n\n\n“This is something so important that we should not ignore.”
\n\n\n\nHumble background
\n\n\n\nYuen is a globally recognised authority on coronaviruses and infectious diseases, but he came from humble beginnings.
\n\n\n\nBorn in Hong Kong in the late 1950s, he grew up in a 60-square-foot subdivided flat with his parents and three brothers.
\n\n\n\nSince graduating from medical school in 1981, he has worked in the city’s public hospitals, where doctors are paid far less than in the private sector.
\n\n\n\nIt was in 2003 when he leapt into the public consciousness, after he and his team successfully isolated and identified severe acute respiratory syndrome, better known as SARS.
\n\n\n\nIt was a vital step towards testing, diagnosing and treating the disease, which emerged in southern China and Hong Kong before spreading globally.
\n\n\n\nThe virus killed nearly 300 people in the city in just two months, a toll second only to mainland China.
\n\n\n\nThat experience informed Yuen’s approach to the Covid-19 pandemic, which ripped through Hong Kong due to lax vaccination, particularly among the elderly.
\n\n\n\n“We benefited from the 20 years of study that followed the SARS outbreak,” he wrote in his book.
\n\n\n\n“Until factors beyond our ability to stop or overcome — fear, ignorance, poor messaging, and deliberate misinformation — the measures were effective” in buying Hong Kong time until the vaccines were developed.
\n\n\n\nIn the end, despite tough lockdown measures and lengthy quarantines, Hong Kong recorded some three million infections — about half its population — and more than 13,800 deaths from Covid-19.
\n\n\n\nIt was a frenetic time for Yuen, who became a familiar face as the government’s go-to expert and penned more than 100 peer-reviewed studies on the virus.
\n\n\n\nIt also put him in a delicate position on several occasions, including when his call to lift restrictions in 2022 was rejected when the city stayed aligned with China’s zero-Covid doctrine of closed borders and quarantines.
\n\n\n\nThe self-described medical “detective” also faced complaints that put his license at risk after he described the seafood market in China’s Wuhan — where the first cluster of coronavirus cases was detected — as a “crime scene”.
\n\n\n\n‘Transparent investigation’
\n\n\n\nToday, Yuen chooses his words carefully and avoids political subjects, but he maintains that understanding the origins of Covid-19 is key.
\n\n\n\nIt is “important to properly do an investigation in a very open, transparent manner” so lessons can be learned for future pandemic prevention, he said.
\n\n\n\nThe World Health Organization has called on China to be more transparent about the pandemic’s origins, without making any firm conclusions on the source.
\n\n\n\nLast year, Yuen set up the Pandemic Research Alliance with peers in mainland China and the United States to share information and research on future threats.
\n\n\n\n“It is a bad idea to stop or inhibit these exchanges because it protects everyone,” he said.
\n\n\n\n“If we do not talk about it… then another pandemic comes, we have to pay a huge price again.”
\n\n\n\nBy Xinqi Su
\n", "content_text": "Hong Kong microbiologist Yuen Kwok-yung has done battle with some of the world’s worst threats, including the SARS virus he helped isolate and identify. And he has a warning.\n\n\n\nAnother pandemic is inevitable and could exact damage far worse than Covid-19, according to the soft-spoken scientist sometimes thought of as Hong Kong’s answer to top US health expert Anthony Fauci.\n\n\n\n“Both the public and (world) leaders must admit that another pandemic will come, and probably sooner than you anticipate,” he told AFP at the city’s Queen Mary Hospital, where he works and teaches.\n\n\n\n“Why I make such a horrifying prediction is because you can see clearly that the geopolitical, economic, and climatic changes are changing so rapidly,” he told AFP.\n\n\n\nPoliticians must “come to their senses” and solve “global existential threats,” he warns in his new autobiography “My Life in Medicine: A Hong Kong Journey”.\n\n\n\nWhile world leaders are more focused on “national or regional interests”, Yuen said a rapidly changing climate coupled with emerging infectious diseases should be a top priority.\n\n\n\n“This is something so important that we should not ignore.”\n\n\n\nHumble background \n\n\n\nYuen is a globally recognised authority on coronaviruses and infectious diseases, but he came from humble beginnings.\n\n\n\nBorn in Hong Kong in the late 1950s, he grew up in a 60-square-foot subdivided flat with his parents and three brothers. \n\n\n\nSince graduating from medical school in 1981, he has worked in the city’s public hospitals, where doctors are paid far less than in the private sector. \n\n\n\nIt was in 2003 when he leapt into the public consciousness, after he and his team successfully isolated and identified severe acute respiratory syndrome, better known as SARS.\n\n\n\nIt was a vital step towards testing, diagnosing and treating the disease, which emerged in southern China and Hong Kong before spreading globally.\n\n\n\nThe virus killed nearly 300 people in the city in just two months, a toll second only to mainland China.\n\n\n\nThat experience informed Yuen’s approach to the Covid-19 pandemic, which ripped through Hong Kong due to lax vaccination, particularly among the elderly.\n\n\n\n“We benefited from the 20 years of study that followed the SARS outbreak,” he wrote in his book.\n\n\n\n“Until factors beyond our ability to stop or overcome — fear, ignorance, poor messaging, and deliberate misinformation — the measures were effective” in buying Hong Kong time until the vaccines were developed. \n\n\n\nIn the end, despite tough lockdown measures and lengthy quarantines, Hong Kong recorded some three million infections — about half its population — and more than 13,800 deaths from Covid-19.\n\n\n\nIt was a frenetic time for Yuen, who became a familiar face as the government’s go-to expert and penned more than 100 peer-reviewed studies on the virus.\n\n\n\nIt also put him in a delicate position on several occasions, including when his call to lift restrictions in 2022 was rejected when the city stayed aligned with China’s zero-Covid doctrine of closed borders and quarantines.\n\n\n\nThe self-described medical “detective” also faced complaints that put his license at risk after he described the seafood market in China’s Wuhan — where the first cluster of coronavirus cases was detected — as a “crime scene”.\n\n\n\n‘Transparent investigation’ \n\n\n\nToday, Yuen chooses his words carefully and avoids political subjects, but he maintains that understanding the origins of Covid-19 is key.\n\n\n\nIt is “important to properly do an investigation in a very open, transparent manner” so lessons can be learned for future pandemic prevention, he said.\n\n\n\nThe World Health Organization has called on China to be more transparent about the pandemic’s origins, without making any firm conclusions on the source.\n\n\n\nLast year, Yuen set up the Pandemic Research Alliance with peers in mainland China and the United States to share information and research on future threats.\n\n\n\n“It is a bad idea to stop or inhibit these exchanges because it protects everyone,” he said. \n\n\n\n“If we do not talk about it… then another pandemic comes, we have to pay a huge price again.” \n\n\n\nBy Xinqi Su", "date_published": "July 19, 2024", "date_modified": "July 20, 2024 - 00:41", "author": { "name": "AFP", "url": "https://www.macaubusiness.com/author/afp/", "avatar": "https://secure.gravatar.com/avatar/f874b805e642365202fe3b870afdad24?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Yuen-Kwok-yung.png", "tags": [ "HongKong | China | science | health | pandemic", "Greater Bay", "International", "Macau", "MNA" ], "summary": "Hong Kong microbiologist Yuen Kwok-yung has done battle with some of the world's worst threats, including the SARS virus he helped isolate and identify" }, { "id": "https://www.macaubusiness.com/lmelco-to-host-skateboarding-event-at-new-skatepark-next-year/", "url": "https://www.macaubusiness.com/lmelco-to-host-skateboarding-event-at-new-skatepark-next-year/", "title": "Melco to host skateboarding event at new skatepark next year", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240719195413-150x150.jpg\")
\nMelco Resorts &\nEntertainment has announced that it will bring a skateboarding event to Macau\nin March 2025.
\n\n\n\nAccording to a press\nconference held on Friday, the event is entitled \u2018International Festival of\nExtreme Sports (FISE): Battle of the Champions (BOTC) 2025\u2019.
\n\n\n\nIt is part of a collaboration\nwith the government to boost the tourism industry.
\n\n\n\nSkateboarding made its\ndebut as an official Olympic sport at the Tokyo 2020 Olympic Games in a bid to\ndraw attention from the younger generation.
\n\n\n\nSkateboarding events are\nusually held in two disciplines: street and park.
\n\n\n\nThe former allows skaters\nto perform tricks on a course that resembles a street environment, including\nstairs, rails, and ramps.
\n\n\n\nThe latter features a\nlarge hollowed-out course with curves, bowls, and ramps, allowing skaters to\nperform aerial tricks.
\n\n\n\nThe casino operator has\nalso announced a plan to open a skateboard park at Studio City.
\n\n\n\n\u201cWe are excited to\nintroduce \u2018FISE: BOTC 2025, Macau\u2019 as the first event of its kind event to ever\ntake place in Macau and the Greater Bay Area,\u201d said Clarence Chung, a board director\nof Melco.
\n\n\n\n\u201cThe festival will\ncombine sports and youth culture in a vibrant festival atmosphere to appeal to\nboth locals and visitors, while demonstrating Melco’s steadfast commitment to\nbringing world class events and performances to Macau.\u201d
\n", "content_text": "Melco Resorts &\nEntertainment has announced that it will bring a skateboarding event to Macau\nin March 2025.\n\n\n\nAccording to a press\nconference held on Friday, the event is entitled \u2018International Festival of\nExtreme Sports (FISE): Battle of the Champions (BOTC) 2025\u2019. \n\n\n\nIt is part of a collaboration\nwith the government to boost the tourism industry. \n\n\n\nSkateboarding made its\ndebut as an official Olympic sport at the Tokyo 2020 Olympic Games in a bid to\ndraw attention from the younger generation. \n\n\n\nSkateboarding events are\nusually held in two disciplines: street and park. \n\n\n\nThe former allows skaters\nto perform tricks on a course that resembles a street environment, including\nstairs, rails, and ramps.\n\n\n\nThe latter features a\nlarge hollowed-out course with curves, bowls, and ramps, allowing skaters to\nperform aerial tricks.\n\n\n\nThe casino operator has\nalso announced a plan to open a skateboard park at Studio City.\n\n\n\n\u201cWe are excited to\nintroduce \u2018FISE: BOTC 2025, Macau\u2019 as the first event of its kind event to ever\ntake place in Macau and the Greater Bay Area,\u201d said Clarence Chung, a board director\nof Melco.\n\n\n\n\u201cThe festival will\ncombine sports and youth culture in a vibrant festival atmosphere to appeal to\nboth locals and visitors, while demonstrating Melco’s steadfast commitment to\nbringing world class events and performances to Macau.\u201d", "date_published": "July 19, 2024", "date_modified": "July 20, 2024 - 02:08", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240719195413.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Melco Resorts & Entertainment has announced that it will bring a skateboarding event to Macau in March 2025." }, { "id": "https://www.macaubusiness.com/upscale-travel-experiences-are-still-appealing-hotelier/", "url": "https://www.macaubusiness.com/upscale-travel-experiences-are-still-appealing-hotelier/", "title": "Upscale travel experiences are still appealing: Hotelier", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8978-150x150.jpeg\")
\nOne of Macau\u2019s top hoteliers is optimistic about the prospects for the city\u2019s hotel industry, insisting that despite the current economic conditions, consumers are still willing to spend on high-end travel experiences that connect with them.
\n\n\n\nThis is according to Frank Sanders, multi-property vice president of St. Regis Macao and Sheraton Grand Macao, who made the comments on Thursday on the sidelines of a celebration of the St. Regis Bar\u2019s 22nd place in the Asia\u2019s 50 Best Bars list announced recently.
\n\n\n\n\u201cWe don\u2019t see a lot of people spending less, we see more and more people coming into the bar,\u201d Sanders said.
\n\n\n\n\u201cI think people like to spend on the right kind of experience, and we provide that kind of experience right here in the hotel.\u201d
\n\n\n\nIn addition, he said, the two Marriott International hotel brands would refrain from engaging in price wars or using discounted rates to drive footfall.
\n\n\n\nHengqin authorities recently unveiled measures that could pave the way for the conversion of office blocks into accommodation.
\n\n\n\n\u201cCompetition is obviously increasing, but I think there are enough visitors for everyone to have a slice of the cake, as they say,\u201d said the hotelier, stressing that travellers are looking for experiences that resonate with them, whether it\u2019s a familiar offering or an entirely new addition to the market.
\n", "content_text": "One of Macau\u2019s top hoteliers is optimistic about the prospects for the city\u2019s hotel industry, insisting that despite the current economic conditions, consumers are still willing to spend on high-end travel experiences that connect with them.\n\n\n\nThis is according to Frank Sanders, multi-property vice president of St. Regis Macao and Sheraton Grand Macao, who made the comments on Thursday on the sidelines of a celebration of the St. Regis Bar\u2019s 22nd place in the Asia\u2019s 50 Best Bars list announced recently.\n\n\n\n\u201cWe don\u2019t see a lot of people spending less, we see more and more people coming into the bar,\u201d Sanders said.\n\n\n\n\u201cI think people like to spend on the right kind of experience, and we provide that kind of experience right here in the hotel.\u201d\n\n\n\nIn addition, he said, the two Marriott International hotel brands would refrain from engaging in price wars or using discounted rates to drive footfall.\n\n\n\nHengqin authorities recently unveiled measures that could pave the way for the conversion of office blocks into accommodation.\n\n\n\n\u201cCompetition is obviously increasing, but I think there are enough visitors for everyone to have a slice of the cake, as they say,\u201d said the hotelier, stressing that travellers are looking for experiences that resonate with them, whether it\u2019s a familiar offering or an entirely new addition to the market.", "date_published": "July 19, 2024", "date_modified": "July 19, 2024 - 23:34", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8978.jpeg", "tags": [ "Macau", "MNA", "MNA Featured" ], "summary": "Frank Sanders, multi-property vice president of St. Regis Macao and Sheraton Grand Macao, is optimistic about the prospects for the city's hotel industry, insisting that despite the current economic conditions, consumers are still willing to spend on high-end travel experiences that connect with them." }, { "id": "https://www.macaubusiness.com/hk-and-macau-unveil-joint-qr-code-scanning-for-immigration/", "url": "https://www.macaubusiness.com/hk-and-macau-unveil-joint-qr-code-scanning-for-immigration/", "title": "HK and Macau unveil joint QR code scanning for immigration", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8952-1-150x150.jpeg\")
\nHong Kong and Macau permanent residents can now use a QR code for border crossing purposes under a joint measure designed to make immigration and clearance more convenient between the two special administrative regions.
\n\n\n\nThe new measure is scheduled to become effective on Friday (19 July), saving QR code users the hassle of presenting physical documentation.
\n\n\n\nAt a launch ceremony took place on Thursday morning, government officials said that the new immigration method would involve fingerprint and facial recognition screenings.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8942-1028x568.jpeg\")
Benson Kwok, director of the Immigration of Hong Kong said in his address that nearly 2.5 million Hong Kong residents had registered to use the self-service channels in Macau.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8950-1028x685.jpeg\")
According to Ng Wai Han, director of the Public Administration and Civil Service Bureau, as many as 300,000 Macau residents who have registered for Hong Kong\u2019s e-channel services can update their Macao One Account accounts to generate a specific QR code for themselves.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8946-1028x685.jpeg\")
The new function will be found in the \u2018My border crossing\u2019 section on the home page.
\n\n\n\nIn 2023, the Macau authorities introduced digital identification to that app, enabling local residents to verify their identity at the immigration halls on the borders between Zhuhai and Macau.
\n\n\n\nWhen will non-permanent residents benefit from the new initiative?
\n\n\n\nThe authorities said that they were considering the possibility of extending the new QR code immigration initiative to non-permanent residents in its next phase.
\n\n\n\n“At this stage, it is difficult to predict the number of potential applicants. However, both the Hong Kong and Macau systems have undergone thorough stress tests,” Ng told the media.
\n\n\n\nUnder current arrangements, only permanent residents aged 11 or over are allowed to make registrations in Macau, Hengqin, or Hong Kong to use the e-channel services in Hong Kong.
\n\n\n\nThose aged 18 or older are allowed to make registrations at the self-service machines located at the 24-hour government service centres across the city, as well as the round-the-clock administrative service centre in Hengqin.
\n\n\n\nAbout three hours after successful registration, applicants will be allowed to produce their permanent resident ID card or QR code for the e-channel services.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Helena-Senna-Fernandes-MGTO-150x150.jpeg\")
\nMacau tourism authorities are confident that the annual target of welcoming 2 million international visitors will be achieved, with more promotional offers tailored for overseas tourists to be launched in the second half of this year.
\n\n\n\nThe remarks were delivered by Macao Government Tourism Office (MGTO) Director Maria Helena de Senna Fernandes on Thursday at the media sidelines after the opening ceremony of the 2024 Sands Shopping Carnival.
\n\n\n\nMs. Fernandes said that driven by the \u2018enthusiastic response\u2019 from international travellers to MGTO’s special travel offers, the authorities are planning for an expansion of promotional incentives in the second half of the year.
\n\n\n\nMGTO plans to spend MOP 235 million (US$29.2 million) this year on promotional incentives targeting overseas markets, including 250,000 special travel offers for international travellers.
\n\n\n\nThese offers cover air tickets, cross-border transport, hotel accommodations, dining, entertainment, and show tickets.
\n\n\n\n![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2019/06/Screen-Shot-2019-06-07-at-5.53.17-PM.png\")
The MGTO head also revealed plans for collaborations with renowned international news outlets in the second half of the year, such as CNN and BBC, to promote Macau as a tourist destination.
\n\n\n\nMeanwhile, the tourism authorities are also planning to collaborate with online travel agencies such as Agoda and Booking.com to launch more promotional campaigns.
\n\n\n\nMs. Fernandes expressed satisfaction with the recovery pace of overseas tourists in the first half of the year, adding that she is confident in achieving the annual target of 2 million.
\n\n\n\nMacau authorities have set a target of at least 2 million international arrivals for 2024 and 3 million for 2025, a level in line with 2019.
\n\n\n\nAccording to statistics provided by MGTO, the city welcomed approximately 1.1 million international visitors in the first half of 2024.
![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/08/Central-Committee-CPC-150x150.jpg\")
\nThe leadership of the ruling Communist Party of China adopted a resolution on \u201cfurther deepening reform comprehensively\u201d with a focus on the role of the market being better leveraged and preventing and defusing risks in sectors such as real estate, local government debt, small and medium financial institutions.
\n\n\n\nThe 20th Central Committee of the CPC held its third plenary session (known as third plenum) in Beijing from Monday to Thursday.
\n\n\n\nXi Jinoping, CPCP General Secretary and China\u2019s President, delivered explanatory remarks on the draft version of the resolution titled \u201cFurther Deepening Reform Comprehensively to Advance Chinese Modernization\u201d.
\n\n\n\n“By 2035, we will have finished building a high-standard socialist market economy in all respects, further improved the system of socialism with Chinese characteristics, generally modernized our system and capacity for governance, and basically realized socialist modernization,”the resolution said, as quoted by Xinhua News Agency.
\n\n\n\nThe Third Plenum has previously been an occasion for the party’s top leadership to unveil major economic policy shifts.
\n\n\n\nIn 1978, then-leader Deng Xiaoping used the meeting to announce market reforms that would put China on the path to dazzling economic growth by opening it to the world.
\n\n\n\nAnd more recently following the closed-door meeting in 2013, the leadership pledged to give the free market a “decisive” role in resource allocation, as well as other sweeping changes to economic and social policy.
\n\n\n\nEchoing past plena, top officials promised Thursday to “give fuller play to the role of market mechanisms”.
\n\n\n\n\u201cIn building a high-standard socialist market economy, the role of the market must be better leveraged, with a fairer and more dynamic market environment to be fostered and resource allocation to be made as efficient and productive as possible,\u201d the resolution indicated, adding that \u201crestrictions on the market will be lifted while effective regulation will be ensured to better maintain order in the market and remedy market failures.\u201d
\n\n\n\nIn promoting high-quality development, the communique urged deepening supply-side structural reform, improving incentive and constraint mechanisms for promoting high-quality development, and creating new drivers and strengths for realizing growth.
\n\n\n\n“We will improve the institutions and mechanisms for fostering new quality productive forces in line with local conditions, for promoting full integration between the real economy and the digital economy, for developing the service sector, for modernizing infrastructure, and for enhancing the resilience and security of industrial and supply chains,” it stated.
\n\n\n\nLynn Song, ING’s Chief Economist for Greater China, told AFP the readout offered some “positive signals”.
\n\n\n\nBut, he said, it was “not a platform for pushing specific new stimulus measures”.
\n\n\n\nThe meeting comes just days after China posted official statistics showing the economy grew by 4.7 percent in the second quarter of the year.
\n\n\n\nAnalysts polled by Bloomberg had expected 5.1 percent.
\n\n\n\nBeijing has said it is aiming for five percent growth this year.
\n", "content_text": "The leadership of the ruling Communist Party of China adopted a resolution on \u201cfurther deepening reform comprehensively\u201d with a focus on the role of the market being better leveraged and preventing and defusing risks in sectors such as real estate, local government debt, small and medium financial institutions.\n\n\n\nThe 20th Central Committee of the CPC held its third plenary session (known as third plenum) in Beijing from Monday to Thursday.\n\n\n\nXi Jinoping, CPCP General Secretary and China\u2019s President, delivered explanatory remarks on the draft version of the resolution titled \u201cFurther Deepening Reform Comprehensively to Advance Chinese Modernization\u201d.\n\n\n\n“By 2035, we will have finished building a high-standard socialist market economy in all respects, further improved the system of socialism with Chinese characteristics, generally modernized our system and capacity for governance, and basically realized socialist modernization,”the resolution said, as quoted by Xinhua News Agency. \n\n\n\nThe Third Plenum has previously been an occasion for the party’s top leadership to unveil major economic policy shifts.\n\n\n\nIn 1978, then-leader Deng Xiaoping used the meeting to announce market reforms that would put China on the path to dazzling economic growth by opening it to the world.\n\n\n\nAnd more recently following the closed-door meeting in 2013, the leadership pledged to give the free market a “decisive” role in resource allocation, as well as other sweeping changes to economic and social policy.\n\n\n\nEchoing past plena, top officials promised Thursday to “give fuller play to the role of market mechanisms”.\n\n\n\n\u201cIn building a high-standard socialist market economy, the role of the market must be better leveraged, with a fairer and more dynamic market environment to be fostered and resource allocation to be made as efficient and productive as possible,\u201d the resolution indicated, adding that \u201crestrictions on the market will be lifted while effective regulation will be ensured to better maintain order in the market and remedy market failures.\u201d\n\n\n\nIn promoting high-quality development, the communique urged deepening supply-side structural reform, improving incentive and constraint mechanisms for promoting high-quality development, and creating new drivers and strengths for realizing growth.\n\n\n\n“We will improve the institutions and mechanisms for fostering new quality productive forces in line with local conditions, for promoting full integration between the real economy and the digital economy, for developing the service sector, for modernizing infrastructure, and for enhancing the resilience and security of industrial and supply chains,” it stated.\n\n\n\nLynn Song, ING’s Chief Economist for Greater China, told AFP the readout offered some “positive signals”.\n\n\n\nBut, he said, it was “not a platform for pushing specific new stimulus measures”.\n\n\n\nThe meeting comes just days after China posted official statistics showing the economy grew by 4.7 percent in the second quarter of the year.\n\n\n\nAnalysts polled by Bloomberg had expected 5.1 percent.\n\n\n\nBeijing has said it is aiming for five percent growth this year.", "date_published": "July 18, 2024", "date_modified": "July 18, 2024 - 19:31", "author": { "name": "Newsdesk", "url": "https://www.macaubusiness.com/author/newsdesk/", "avatar": "https://secure.gravatar.com/avatar/75fb5300755cbaf69669b79f302247f2?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/08/Central-Committee-CPC.jpg", "tags": [ "China", "Macau", "MNA" ], "summary": "The leadership of the ruling Communist Party of China adopted a resolution on \u201cfurther deepening reform comprehensively\u201d with a focus on the role of the market being better leveraged and preventing and defusing risks in sectors such as real estate, local government debt, small and medium financial institutions." }, { "id": "https://www.macaubusiness.com/ongoing-auction-ex-junket-king-alvin-chaus-properties-still-available-at-discounted-prices/", "url": "https://www.macaubusiness.com/ongoing-auction-ex-junket-king-alvin-chaus-properties-still-available-at-discounted-prices/", "title": "Ongoing auction: ex-junket king Alvin Chau\u2019s properties still available at discounted prices", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-10-150x150.jpg\")
\nOnly two of the 36 properties owned by former junket kingpin Alvin Chau have been auctioned off, with the rest still under the hammer, court records show.
\n\n\n\nHowever, these properties \u2013 three commercial units and 31 car parking spaces \u2013 are now worth about half of their combined original bid price of nearly MOP600 million (US$74.68 million).
\n\n\n\nThe first three properties, located in Taipa, are selling for MOP49,965,300, MOP66,373,200 and MOP159,073,200 respectively, with 30 parking spaces valued at MOP1,066,050 each and one parking space particularly valued at MOP1,019,700.
\n\n\n\nThe public auction, which was due to end in September last year, has been extended until February this year.
\n\n\n\nEarlier this month, the city\u2019s top court upheld the 18-year prison term for Chau, who, along with his eight associates, must pay a whopping HKD24.865 billion in compensation to the government for profiting from illicit gambling operations.
\n\n\n\nThe jail terms for the other eight range from nine years to 12 years and 6 months.
\n\n\n\nEarlier this year, China Central Television, the country\u2019s national TV broadcaster known as CCTV, reported that the online gaming sites run by the former gambling promoter in the Philippines generated RMB300 billion in bets between 2015 and 2019, with his winnings topping RMB8.7 billion from Chinese gamblers.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/news105002_06-150x150.jpg\")
\nMacau\u2019s de facto central bank says there are now 101 licensed financial institutions in the city, an increase of 14 from 2019.
\n\n\n\nIn an update on the city\u2019s financial situation on Thursday, the Monetary Authority of Macau said it had optimised both the city\u2019s hardware and software to create more favourable conditions for the development of modern finance.
\n\n\n\nSeveral mobile payment tools are now available for use in Hong Kong, mainland China and a number of overseas regions such as Japan and Europe, the authority pointed out.
\n\n\n\nFrom January to June this year, some 170 million transactions were recorded, with a total value of MOP14.48 billion (US$1.8 billion).
\n\n\n\nThese figures represent an increase of 16 per cent and 3 per cent respectively over the same period last year.
\n\n\n\nIn addition, local businesses can accept payments via e-wallet services from mainland China, Hong Kong, South Korea, Singapore, Thailand and Malaysia.
\n\n\n\nIn terms of the northbound travel scheme for cars, the authority said it was currently in close communication with its mainland counterparts to expand the scope of cross-border insurance services.
\n\n\n\nSince December 2022, when such services between Guangdong and Macau became available on the market, eight Macau-registered companies have been approved as service providers for around 30,000 vehicles registered in Macau.
\n", "content_text": "Macau\u2019s de facto central bank says there are now 101 licensed financial institutions in the city, an increase of 14 from 2019.\n\n\n\nIn an update on the city\u2019s financial situation on Thursday, the Monetary Authority of Macau said it had optimised both the city\u2019s hardware and software to create more favourable conditions for the development of modern finance.\n\n\n\nSeveral mobile payment tools are now available for use in Hong Kong, mainland China and a number of overseas regions such as Japan and Europe, the authority pointed out.\n\n\n\nFrom January to June this year, some 170 million transactions were recorded, with a total value of MOP14.48 billion (US$1.8 billion).\n\n\n\nThese figures represent an increase of 16 per cent and 3 per cent respectively over the same period last year.\n\n\n\nIn addition, local businesses can accept payments via e-wallet services from mainland China, Hong Kong, South Korea, Singapore, Thailand and Malaysia.\n\n\n\nIn terms of the northbound travel scheme for cars, the authority said it was currently in close communication with its mainland counterparts to expand the scope of cross-border insurance services.\n\n\n\nSince December 2022, when such services between Guangdong and Macau became available on the market, eight Macau-registered companies have been approved as service providers for around 30,000 vehicles registered in Macau.", "date_published": "July 18, 2024", "date_modified": "July 19, 2024 - 08:34", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/news105002_06.jpg", "tags": [ "Finance", "Greater Bay", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/sands-shopping-carnival-kicks-off-supports-local-smes/", "url": "https://www.macaubusiness.com/sands-shopping-carnival-kicks-off-supports-local-smes/", "title": "Sands Shopping Carnival kicks off, supports local SMEs", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Sands-China-shopping-CArnival-150x150.jpeg\")
\nThe 2024 Sands Shopping Carnival kicked off on Thursday at The Venetian Macao, featuring more than 580 booths, with 325 booths dedicated to local small and medium-sized enterprises (SMEs).
\n\n\n\nWilfred Wong, executive vice chairman of Sands China Ltd., said at the opening ceremony that the event has seen 420,000 visitations over the past editions and created a total of around 2,800 exhibition booths.
\n\n\n\nThis year\u2019s edition spans four consecutive days from 18-21 July at Cotai Expo Halls A and B, presenting 9 exhibition zones across 21,000 square meters.
\n\n\n\nVisitors can explore a selection of over 260,000 products, including special daily MOP1 products and discounts of up to 90 percent off regular prices.
\n\n\n\n\u201cWe have increased the number of SME booths to 325, reaching an all-time high. Furthermore, the number of participating community organizations has climbed year after year, encompassing various areas such as culture and creativity, and food and beverage,\u201d Wilfred Wong said.
\n", "content_text": "The 2024 Sands Shopping Carnival kicked off on Thursday at The Venetian Macao, featuring more than 580 booths, with 325 booths dedicated to local small and medium-sized enterprises (SMEs).\n\n\n\nWilfred Wong, executive vice chairman of Sands China Ltd., said at the opening ceremony that the event has seen 420,000 visitations over the past editions and created a total of around 2,800 exhibition booths.\n\n\n\nThis year\u2019s edition spans four consecutive days from 18-21 July at Cotai Expo Halls A and B, presenting 9 exhibition zones across 21,000 square meters.\n\n\n\nVisitors can explore a selection of over 260,000 products, including special daily MOP1 products and discounts of up to 90 percent off regular prices.\n\n\n\n\u201cWe have increased the number of SME booths to 325, reaching an all-time high. Furthermore, the number of participating community organizations has climbed year after year, encompassing various areas such as culture and creativity, and food and beverage,\u201d Wilfred Wong said.", "date_published": "July 18, 2024", "date_modified": "July 19, 2024 - 08:31", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Sands-China-shopping-CArnival.jpeg", "tags": [ "Macau", "MNA" ], "summary": "The 2024 Sands Shopping Carnival kicked off on Thursday at The Venetian Macao, featuring more than 580 booths, with 325 booths dedicated to local small and medium-sized enterprises (SMEs)." }, { "id": "https://www.macaubusiness.com/mbtv-young-chinese-seek-alternative-jobs-in-shifting-economy/", "url": "https://www.macaubusiness.com/mbtv-young-chinese-seek-alternative-jobs-in-shifting-economy/", "title": "MBtv: Young Chinese seek alternative jobs in shifting economy", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/maxresdefault-39-150x150.jpg\")
\nBraving loneliness and unfamiliar cities, young Chinese professionals are flocking to alternative career options. Their choices reflect broader changes in the world\u2019s second-largest economy after decades of breakneck growth.
\n", "content_text": "Braving loneliness and unfamiliar cities, young Chinese professionals are flocking to alternative career options. Their choices reflect broader changes in the world\u2019s second-largest economy after decades of breakneck growth.", "date_published": "July 18, 2024", "date_modified": "July 19, 2024 - 08:28", "author": { "name": "MBeditor", "url": "https://www.macaubusiness.com/author/mbeditor/", "avatar": "https://secure.gravatar.com/avatar/3c44cd47c38b159ae5d5c00312d0cc21?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/maxresdefault-39.jpg", "tags": [ "China", "Macau", "MB.tv", "MB.tv Featured", "Reports" ], "summary": "Braving loneliness and unfamiliar cities, young Chinese professionals are flocking to alternative career options. Their choices reflect broader changes in the world's second-largest economy after decades of breakneck growth." }, { "id": "https://www.macaubusiness.com/clsa-lowers-ggr-ebitda-forecast-for-2024/", "url": "https://www.macaubusiness.com/clsa-lowers-ggr-ebitda-forecast-for-2024/", "title": "CLSA lowers GGR, EBITDA forecast for 2024", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717183932-150x150.png\")
\nBrokerage firm CLSA has revised down its Macau gross gaming revenue (GGR) forecasts for 2024 and 2025 by 3 per cent and 5.3 per cent to US$28.6 billion (MOP230 billion) and US$29.7 billion, respectively, driven by concerns about the crackdown on illegal money exchange activity.
\n\n\n\nIn a recent note, analysts Jeffery Kiang and Leo Pan predict that Macau\u2019s gaming sector EBITDA will decline by 5 per cent quarter-on-quarter to US$1.9 billion in the second quarter of the year, as the city\u2019s GGR decreased by 1.6 per cent quarter-on-quarter.
\n\n\n\n\u201cWhile factoring in the actual GGR in 2Q24, we also lower our expectations as a result of the ongoing crackdown on illegal money exchange activity from China. Whether the crackdowns will scale up remains to be seen,\u201d the analysts wrote.
\n\n\n\nIn early June, China’s Ministry of Public Security urged security forces not only in Macau but also on the Chinese mainland to step up cooperation in cracking down on illegal currency exchanges in Macau.
\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.
\n\n\n\nAlong with the GGR forecast changes, the analysts also lowered their sector EBITDA forecasts for 2024 and 2025 by 8 per cent and 6 per cent, respectively, citing the rise of promotional activity among operators and rising payroll costs.
\n\n\n\nThe brokerage now expects that sector-adjusted EBITDA will grow by 24 per cent year-on-year to US$8.1 billion in 2024, representing a recovery to 85 per cent of the 2019 level.
\n\n\n\nSector EBITDA is expected to fully normalise in the second half of 2025, reaching 4 per cent above the 2019 level.
\n\n\n\nIn the short-term, the analyst indicated that although a soft start to July\u2019s GGR and the recent crackdown on illegal money exchange activity had weighed on investor sentiment, stable balance sheets and sensible competition should enable the companies to weather these short-term headwinds.
\n", "content_text": "Brokerage firm CLSA has revised down its Macau gross gaming revenue (GGR) forecasts for 2024 and 2025 by 3 per cent and 5.3 per cent to US$28.6 billion (MOP230 billion) and US$29.7 billion, respectively, driven by concerns about the crackdown on illegal money exchange activity.\n\n\n\nIn a recent note, analysts Jeffery Kiang and Leo Pan predict that Macau\u2019s gaming sector EBITDA will decline by 5 per cent quarter-on-quarter to US$1.9 billion in the second quarter of the year, as the city\u2019s GGR decreased by 1.6 per cent quarter-on-quarter. \n\n\n\n\u201cWhile factoring in the actual GGR in 2Q24, we also lower our expectations as a result of the ongoing crackdown on illegal money exchange activity from China. Whether the crackdowns will scale up remains to be seen,\u201d the analysts wrote.\n\n\n\nIn early June, China’s Ministry of Public Security urged security forces not only in Macau but also on the Chinese mainland to step up cooperation in cracking down on illegal currency exchanges in Macau.\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.\n\n\n\nAlong with the GGR forecast changes, the analysts also lowered their sector EBITDA forecasts for 2024 and 2025 by 8 per cent and 6 per cent, respectively, citing the rise of promotional activity among operators and rising payroll costs.\n\n\n\nThe brokerage now expects that sector-adjusted EBITDA will grow by 24 per cent year-on-year to US$8.1 billion in 2024, representing a recovery to 85 per cent of the 2019 level. \n\n\n\nSector EBITDA is expected to fully normalise in the second half of 2025, reaching 4 per cent above the 2019 level.\n\n\n\nIn the short-term, the analyst indicated that although a soft start to July\u2019s GGR and the recent crackdown on illegal money exchange activity had weighed on investor sentiment, stable balance sheets and sensible competition should enable the companies to weather these short-term headwinds.", "date_published": "July 17, 2024", "date_modified": "July 17, 2024 - 18:40", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717183932.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Brokerage firm CLSA has revised down its Macau gross gaming revenue(GGR) forecasts for 2024 and 2025 by 3.0 per cent and 5.3 per cent to US$28.6 billion(MOP230 billion) and US$29.7 billion, respectively, driven by concerns about the crackdown on illegal money exchange activity." }, { "id": "https://www.macaubusiness.com/commerce-and-investment-promotion-institute/", "url": "https://www.macaubusiness.com/commerce-and-investment-promotion-institute/", "title": "Investment promotion institute sees investment surge", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_2914-150x150.jpeg\")
\nInvestment projects handled by the Commerce and Investment Promotion Institute in the first half of the year is worth more than the total for the whole of last year.
\n\n\n\nAccording to an update on Wednesday from the organisation, which was given a new name earlier this year, the January to June period saw MOP1.32 billion (US$160 million), more than the cumulative value for the whole of 2023.
\n\n\n\nThere were 199 new investment programmes, creating a total of 817 job placements.
\n\n\n\nMore than 40 per cent of the total was linked to the city’s ‘1+4′ diversification drive, with the surge in investment said to reflect investors’ confidence in the city’s business prospects.
\n\n\n\nIn the summary, the institute said MICE events held in the first six months attracted more than 170,000 participants.
\n", "content_text": "Investment projects handled by the Commerce and Investment Promotion Institute in the first half of the year is worth more than the total for the whole of last year. \n\n\n\nAccording to an update on Wednesday from the organisation, which was given a new name earlier this year, the January to June period saw MOP1.32 billion (US$160 million), more than the cumulative value for the whole of 2023. \n\n\n\nThere were 199 new investment programmes, creating a total of 817 job placements. \n\n\n\nMore than 40 per cent of the total was linked to the city’s ‘1+4′ diversification drive, with the surge in investment said to reflect investors’ confidence in the city’s business prospects.\n\n\n\nIn the summary, the institute said MICE events held in the first six months attracted more than 170,000 participants.", "date_published": "July 17, 2024", "date_modified": "July 17, 2024 - 17:22", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_2914.jpeg", "tags": [ "Finance", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/govt-records-uptick-in-stamp-duty-on-flat-transfers/", "url": "https://www.macaubusiness.com/govt-records-uptick-in-stamp-duty-on-flat-transfers/", "title": "Gov\u2019t records uptick in stamp duty on flat transfers", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717151125-150x150.jpg\")
\nMacau’s residential market has seen a glimmer of hope with a positive development in stamp duty on transferred units in the first half of the year.
\n\n\n\nAccording to the latest figures from the Financial Services Bureau, there were 413 transfers in June, up from 236 in the same period last year.
\n\n\n\nThe average price per metre for the month was MOP99,489 (US$12,382), an increase of about 2.8 per cent compared to the same month last year.
\n\n\n\nIn May this year, only 346 transfers were recorded, compared to 287 last year.
\n\n\n\nMarch and February saw only 143 and 132 cases respectively, while January saw 263.
\n\n\n\nThe authorities unveiled two rounds of cooling measures last year to prop up the sagging housing market, with all major curbs removed in April.
\n\n\n\nThe general downbeat sentiment was reflected by the overall house price index, which fell to 219.9 in the March-May period, a significant drop of over 12 per cent.
\n\n\n\nThe gauge had previously been as high as 268.3 in the same period in 2019, before the economic hit from the Covid pandemic began to take its toll.
\n\n\n\nQuarter-on-quarter comparisons
\n\n\n\nIn the second quarter, 1,028 transmission cases were recorded, compared with 538 in the previous quarter.
\n\n\n\nThe average price per metre for the quarter was MOP93,118, down 1.99 per cent year on year.
\n\n\n\nCompared with the same quarter last year, this represents an increase of more than 24 percent.
\n\n\n\nIn a quarterly update earlier this month, Centaline Property said that the buy-side appeared to be leaning towards first-hand offers selling at a discount of 20 to 30 per cent.
\n\n\n\nSecondary market transactions were said to have slowed significantly, accounting for only a quarter of total transactions.
\n", "content_text": "Macau’s residential market has seen a glimmer of hope with a positive development in stamp duty on transferred units in the first half of the year.\n\n\n\nAccording to the latest figures from the Financial Services Bureau, there were 413 transfers in June, up from 236 in the same period last year. \n\n\n\nThe average price per metre for the month was MOP99,489 (US$12,382), an increase of about 2.8 per cent compared to the same month last year. \n\n\n\nIn May this year, only 346 transfers were recorded, compared to 287 last year. \n\n\n\nMarch and February saw only 143 and 132 cases respectively, while January saw 263. \n\n\n\nThe authorities unveiled two rounds of cooling measures last year to prop up the sagging housing market, with all major curbs removed in April. \n\n\n\nThe general downbeat sentiment was reflected by the overall house price index, which fell to 219.9 in the March-May period, a significant drop of over 12 per cent.\n\n\n\nThe gauge had previously been as high as 268.3 in the same period in 2019, before the economic hit from the Covid pandemic began to take its toll.\n\n\n\nQuarter-on-quarter comparisons\n\n\n\nIn the second quarter, 1,028 transmission cases were recorded, compared with 538 in the previous quarter. \n\n\n\nThe average price per metre for the quarter was MOP93,118, down 1.99 per cent year on year. \n\n\n\nCompared with the same quarter last year, this represents an increase of more than 24 percent. \n\n\n\nIn a quarterly update earlier this month, Centaline Property said that the buy-side appeared to be leaning towards first-hand offers selling at a discount of 20 to 30 per cent.\n\n\n\nSecondary market transactions were said to have slowed significantly, accounting for only a quarter of total transactions.", "date_published": "July 17, 2024", "date_modified": "July 17, 2024 - 15:24", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717151125.jpg", "tags": [ "Finance", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's residential market has seen a glimmer of hope with a positive development in stamp duty on transferred units in the first half of the year." }, { "id": "https://www.macaubusiness.com/vip-gambling-down-7-4-pct-quarter-to-quarter-in-q2/", "url": "https://www.macaubusiness.com/vip-gambling-down-7-4-pct-quarter-to-quarter-in-q2/", "title": "VIP gambling down 7.4 pct quarter-to-quarter in Q2", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/01/casino-worker-150x150.jpg\")
\nRevenue from high-stakes gambling (VIP gambling) in Macau fell by 7.4 per cent in the second quarter of the year compared to the previous three months, according to data released by the Gaming Inspection and Coordination Bureau (DICJ).
\n\n\n\nCasinos collected MOP13.31 billion (USD1.66 billion) between April and June from VIP baccarat gambling, compared to MOP14.37 billion (EUR1.64 billion) between January and March, the DICJ revealed.
\n\n\n\nThe figure is still far from pre-pandemic levels.
\n\n\n\nBetween April and June 2019, high-stakes gambling totalled MOP34.61 billion in the second quarter of that year.
\n\n\n\nOn an annual basis, the amount between April and June 2024 represents an increase of 9% compared to the same period in 2023, when VIP gambling brought in MOP12.2 billion (EUR1.39 billion).
\n\n\n\nThe total accumulated from high-stakes gambling in the first six months of this year was MOP27.69 billion, the DICJ added.
\n\n\n\nAs the world’s gambling capital, Macau is the only place in China where casino gambling is legal.
\n\n\n\nDuring nearly three years of strict restrictions against the COVID-19 pandemic, which ended in December 2022, the six gaming operators \u2013 MGM, Galaxy, Venetian, Melco, Wynn, and SJM \u2013 accumulated unprecedented losses, and the government was forced to use the extraordinary reserve to respond to the crisis, as a substantial portion of government revenue comes from gambling taxes.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/n22ksugdk0__t20221120202335-150x150.jpeg\")
\nMacau\u2019s intermediate court has upheld the guilty verdict against a university professor accused of sexually assualting his female student during an on-campus party.
\n\n\n\nThe alleged sexual misconduct happened during the Covid pandemic in 2022 when movement restrictions were largely in place across the city.
\n\n\n\nThe suspect, who was in his 70s and worked for the University of Macau, was found guilty by the Court of First Instance and slapped with a two-year suspended sentence and a seven-month probation.
\n\n\n\nIn his appeal, he claimed that he could not recall the details of the incident and denied any form of sexual harassment, citing reasons such as being too drunk.
\n\n\n\nHowever, the Court of Second Instance ruled that the appellant was sober enough to engage in a coherent academic conversation moments before the incident occurred, concluding that he should have been cognitively capable of maintaining self-control.
\n\n\n\n\u201cIt indicates that he was then conscious and was not in a state where he could not be held accountable,\u201d a statement from the court says.
\n\n\n\nAccording to the statement, the professor stressed during his appeal that he had never been accused of disrespecting women in his nearly 30-year career.
\n\n\n\nHe also raised concerns about the introduction of the teacher-student relationship into the case and criticised the plaintiff for disclosing the matter on social media, which violated the principles of judicial confidentiality.
\n\n\n\nThe only witness mentioned in the case was said to have not seen the incident, and she did not know the complainant.
\n\n\n\nHowever, the intermediate court ruled that there was no motive for the plaintiff who had received a recommendation letter from the appellant to make a false accusation.
\n", "content_text": "Macau\u2019s intermediate court has upheld the guilty verdict against a university professor accused of sexually assualting his female student during an on-campus party. \n\n\n\nThe alleged sexual misconduct happened during the Covid pandemic in 2022 when movement restrictions were largely in place across the city.\n\n\n\nThe suspect, who was in his 70s and worked for the University of Macau, was found guilty by the Court of First Instance and slapped with a two-year suspended sentence and a seven-month probation. \n\n\n\nIn his appeal, he claimed that he could not recall the details of the incident and denied any form of sexual harassment, citing reasons such as being too drunk. \n\n\n\nHowever, the Court of Second Instance ruled that the appellant was sober enough to engage in a coherent academic conversation moments before the incident occurred, concluding that he should have been cognitively capable of maintaining self-control.\n\n\n\n\u201cIt indicates that he was then conscious and was not in a state where he could not be held accountable,\u201d a statement from the court says. \n\n\n\nAccording to the statement, the professor stressed during his appeal that he had never been accused of disrespecting women in his nearly 30-year career. \n\n\n\nHe also raised concerns about the introduction of the teacher-student relationship into the case and criticised the plaintiff for disclosing the matter on social media, which violated the principles of judicial confidentiality.\n\n\n\nThe only witness mentioned in the case was said to have not seen the incident, and she did not know the complainant.\n\n\n\nHowever, the intermediate court ruled that there was no motive for the plaintiff who had received a recommendation letter from the appellant to make a false accusation.", "date_published": "July 17, 2024", "date_modified": "July 17, 2024 - 12:52", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/n22ksugdk0__t20221120202335.jpeg", "tags": [ "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/shenzhen-to-launch-20-self-driving-buses-soon-fare-set-at-1-yuan/", "url": "https://www.macaubusiness.com/shenzhen-to-launch-20-self-driving-buses-soon-fare-set-at-1-yuan/", "title": "Shenzhen to launch 20 self-driving buses soon, fare set at 1 yuan", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/self-driving-buses-Shenzhen-150x150.png\")
\nShenzhen is set to launch 20 self-driving buses by the end of the year, following the recent discussion triggered by the introduction of driverless ride-hailing vehicles,\u00a0 according to local media reports.
\n\n\n\nExperts told the Global Times that despite the promising future of autonomous driving applications, significant challenges, particularly regarding safety, remain.
\n\n\n\nCurrently, four self-driving bus routes have been approved and are slated to start operation by the end of July, with each ride costing 1 yuan ($0.14). These routes will connect subway stations, commercial and residential areas, central business districts, industrial parks, and scenic spots.
\n\n\n\nThe reports indicate that these driverless buses are equipped with high-definition on-board cameras, millimetre-wave radar, and LiDAR, which provide a 360-degree accurate perception of surrounding vehicles, pedestrians, non-motorized vehicles, and changing road conditions.
\n\n\n\nAdditionally, the buses are outfitted with the country’s leading automated driving system, allowing for quick judgment and decision-making comparable to that of an experienced driver. This system ensures precise control of the vehicle, enabling safe navigation along predetermined routes.
\n\n\n\nInside the buses, an intelligent interactive display screen offers real-time information on the surrounding traffic participants perceived by the vehicle’s sensors, the vehicle’s autonomous driving status, and the planned driving route, according to local media.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Shanghai-skyline2-150x150.jpg\")
\nThe IMF maintained its forecast for global growth in 2024 at 3.2 percent, noting that Asia’s emerging market economies remain the main engine for the global economy.
\n\n\n\nGlobal activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia, particularly in the technology sector, the WEO update noted.
\n\n\n\nWorld trade volume is expected to grow by 3.1 percent in 2024 and 3.4 percent in 2025, each 0.1 percentage points higher than the April projection.
\n\n\n\n“Asia’s emerging market economies remain the main engine for the global economy. Growth in India and China is revised upwards and accounts for almost half of global growth,” IMF Chief Economist Pierre-Olivier Gourinchas said in a blog.
\n\n\n\nThe revision for China’s growth prediction was announced in late May by the IMF’s first deputy managing director, Gita Gopinath, during a news briefing in Beijing following the conclusion of the IMF team’s 2024 Article IV Consultation for China.
\n\n\n\nThe update also noted that the momentum of global disinflation is slowing, signaling bumps along the path. “Upside risks to inflation have thus increased, raising the prospect of higher-for-even-longer interest rates, in the context of escalating trade tensions and increased policy uncertainty,” it said.
\n\n\n\n“Further challenges to disinflation in advanced economies could force central banks, including the Federal Reserve, to keep borrowing costs higher for even longer. That would put overall growth at risk, with increased upward pressure on the dollar and harmful spillovers to emerging and developing economies,” Gourinchas said.
\n\n\n\nThe IMF chief economist said it is “concerning” that a country like the United States maintains a fiscal stance that pushes its debt-to-GDP ratio steadily higher, with rising risks to both the domestic and global economy. “The increasing U.S. reliance on short-term funding is also worrisome,” he said.
\n", "content_text": "The IMF maintained its forecast for global growth in 2024 at 3.2 percent, noting that Asia’s emerging market economies remain the main engine for the global economy.\n\n\n\nGlobal activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia, particularly in the technology sector, the WEO update noted.\n\n\n\nWorld trade volume is expected to grow by 3.1 percent in 2024 and 3.4 percent in 2025, each 0.1 percentage points higher than the April projection.\n\n\n\n“Asia’s emerging market economies remain the main engine for the global economy. Growth in India and China is revised upwards and accounts for almost half of global growth,” IMF Chief Economist Pierre-Olivier Gourinchas said in a blog.\n\n\n\nThe revision for China’s growth prediction was announced in late May by the IMF’s first deputy managing director, Gita Gopinath, during a news briefing in Beijing following the conclusion of the IMF team’s 2024 Article IV Consultation for China.\n\n\n\nThe update also noted that the momentum of global disinflation is slowing, signaling bumps along the path. “Upside risks to inflation have thus increased, raising the prospect of higher-for-even-longer interest rates, in the context of escalating trade tensions and increased policy uncertainty,” it said.\n\n\n\n“Further challenges to disinflation in advanced economies could force central banks, including the Federal Reserve, to keep borrowing costs higher for even longer. That would put overall growth at risk, with increased upward pressure on the dollar and harmful spillovers to emerging and developing economies,” Gourinchas said.\n\n\n\nThe IMF chief economist said it is “concerning” that a country like the United States maintains a fiscal stance that pushes its debt-to-GDP ratio steadily higher, with rising risks to both the domestic and global economy. “The increasing U.S. reliance on short-term funding is also worrisome,” he said.", "date_published": "July 17, 2024", "date_modified": "July 18, 2024 - 02:19", "author": { "name": "Xinhua News Agency", "url": "https://www.macaubusiness.com/author/xinhua/", "avatar": "https://secure.gravatar.com/avatar/d4523ba2379179f75fca37fe93e1f3b8?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Shanghai-skyline2.jpg", "tags": [ "China", "International", "Macau", "MNA", "MNA Featured" ], "summary": "The International Monetary Fund (IMF) on Tuesday revised China's 2024 economic growth up to 5 percent in an update to its World Economic Outlook (WEO), from the 4.6-percent forecast in April." }, { "id": "https://www.macaubusiness.com/mgm-unveils-minmplaza-promotion-to-encourage-spending/", "url": "https://www.macaubusiness.com/mgm-unveils-minmplaza-promotion-to-encourage-spending/", "title": "MGM unveils MinMPlaza promotion to encourage spending", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-8-150x150.jpg\")
\nMGM China Holdings has unveiled a campaign to promote Macau brands, an initiative supported by the Industrial Association of Macau and the Bank of China Macau Branch.
\n\n\n\nAccording to the casino operator, the ‘Shop Macau Fun Macau!’ campaign aims to promote made-in-Macau products and ‘M-mark’ certified offerings to help local small and medium-sized enterprises expand their ‘online and offline exposure’ and ‘business scope’.
\n\n\n\nThe government-backed campaign will run from 20 July to 31 August, with MOP25 (US$3) e-coupons for MinMPlaza being distributed via the BOC Macau mobile app.
\n\n\n\nMinMPlaza is an exhibition centre established by the association in downtown Macau to promote homegrown brands.
\n\n\n\nUnder the promotion, customers who make a single purchase of at least MOP75 via the app will receive a MOP25 discount using the e-coupons.
\n", "content_text": "MGM China Holdings has unveiled a campaign to promote Macau brands, an initiative supported by the Industrial Association of Macau and the Bank of China Macau Branch.\n\n\n\nAccording to the casino operator, the ‘Shop Macau Fun Macau!’ campaign aims to promote made-in-Macau products and ‘M-mark’ certified offerings to help local small and medium-sized enterprises expand their ‘online and offline exposure’ and ‘business scope’.\n\n\n\nThe government-backed campaign will run from 20 July to 31 August, with MOP25 (US$3) e-coupons for MinMPlaza being distributed via the BOC Macau mobile app. \n\n\n\nMinMPlaza is an exhibition centre established by the association in downtown Macau to promote homegrown brands. \n\n\n\nUnder the promotion, customers who make a single purchase of at least MOP75 via the app will receive a MOP25 discount using the e-coupons.", "date_published": "July 17, 2024", "date_modified": "July 18, 2024 - 02:38", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-8.jpg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/h1-ggr-hits-mop113-7-bln-vip-baccarat-contributes-24-pct/", "url": "https://www.macaubusiness.com/h1-ggr-hits-mop113-7-bln-vip-baccarat-contributes-24-pct/", "title": "H1 GGR hits MOP113.7 bln, VIP baccarat contributes 24 pct", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717155213-150x150.png\")
\nMacau’s gross gaming revenue (GGR) for the first half of this year reached MOP113.75 billion (US$14.1 billion), representing a recovery to 76 per cent of the pre-pandemic level.
\n\n\n\nAccording to the latest data released by the city\u2019s gaming watchdog, the Gaming Inspection and Coordination Bureau (DICJ), GGR for the second quarter was MOP56.43 billion, reflecting a quarter-on-quarter fall of 1.6 per cent.
\n\n\n\nVIP baccarat tables generated MOP27.7 billion in revenue for the first half of this year, accounting for 24 per cent of the overall GGR.
\n\n\n\nIn the pre-pandemic year 2019, VIP baccarat revenue reached MOP135 billion, which represented 46 per cent of the full-year GGR earned by local casinos.
\n\n\n\nIn the first half of 2024, revenue from the mass-market baccarat segment amounted to MOP69.2 billion, while slot machines contributed MOP6.43 billion.
\n\n\n\nThe number of gaming tables and slot machines in the first half of 2024 stood at 6,000 and 12,000, respectively.
\n\n\n\nLast week, the Financial Services Bureau announced that as much as MOP44.79 billion in gaming taxes in the first half of this year, representing a year-on-year increase of 67.2 per cent.
\n", "content_text": "Macau’s gross gaming revenue (GGR) for the first half of this year reached MOP113.75 billion (US$14.1 billion), representing a recovery to 76 per cent of the pre-pandemic level.\n\n\n\nAccording to the latest data released by the city\u2019s gaming watchdog, the Gaming Inspection and Coordination Bureau (DICJ), GGR for the second quarter was MOP56.43 billion, reflecting a quarter-on-quarter fall of 1.6 per cent.\n\n\n\nVIP baccarat tables generated MOP27.7 billion in revenue for the first half of this year, accounting for 24 per cent of the overall GGR. \n\n\n\nIn the pre-pandemic year 2019, VIP baccarat revenue reached MOP135 billion, which represented 46 per cent of the full-year GGR earned by local casinos. \n\n\n\nIn the first half of 2024, revenue from the mass-market baccarat segment amounted to MOP69.2 billion, while slot machines contributed MOP6.43 billion.\n\n\n\nThe number of gaming tables and slot machines in the first half of 2024 stood at 6,000 and 12,000, respectively.\n\n\n\nLast week, the Financial Services Bureau announced that as much as MOP44.79 billion in gaming taxes in the first half of this year, representing a year-on-year increase of 67.2 per cent.", "date_published": "July 17, 2024", "date_modified": "July 18, 2024 - 02:37", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717155213.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's gross gaming revenue (GGR) for the first half of this year reached MOP113.75 billion (US$14.1 billion), representing a recovery to 76 per cent of the pre-pandemic level." }, { "id": "https://www.macaubusiness.com/hengqin-touts-incentives-to-boost-cross-border-e-commerce-growth/", "url": "https://www.macaubusiness.com/hengqin-touts-incentives-to-boost-cross-border-e-commerce-growth/", "title": "Hengqin touts incentives to boost cross-border e-commerce growth", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/c60IDEspmUMupUJgXvw5-150x150.jpg\")
\nHengqin authorities have\nintroduced a package of measures to promote the development of the e-commerce\neco-system, with such businesses in demonstration zones to benefit from financial\nsupport.
\n\n\n\nTop-rated zones can now enjoy 30 per cent of their fixed asset investment, capped at RMB100 million (US$13.8 million/ MOP110.87 million)
\n\n\n\nZones that are still\nundergoing the stage of growth are eligible for up to 20 per cent of their\nfixed asset investment, capped at RMB20 million yuan.
\n\n\n\nAdditionally, the\nformer zones will receive operational subsidies of up to RMB20 million yuan per\nyear, whereas the latter are eligible to up to RMB5 million per year.
\n\n\n\nEnterprises will\nbenefit from various subsidies to reduce operational costs \u2013 covering office\nspace rent, cross-border network connections, property purchases.
\n\n\n\nMoreover, they can\nreceive a one-time settlement incentive of up to RMB20 million.
\n\n\n\nTo support the\nestablishment of cross-border e-commerce service providers, subsidies of up to\n5 per cent of service fees will be granted \u2013 up to a maximum of 2.5 million\nyuan per year.
\n\n\n\nBusinesses will also\nreceive financial support for trademark registration abroad, establishing\nindependent platforms, leasing overseas warehouses, obtaining logistics\ninsurance, and building product selection centers for brand expansion overseas.
\n\n\n\nIn order to recognise\nthe rising trend of live-streaming e-commerce, support measures for this field\ninclude provisions for developing live-streaming e-commerce bases.
\n\n\n\nEligible bases can\nreceive subsidies of 50 per cent of their investment, up to a maximum of 3\nmillion yuan.
\n\n\n\nTalent development is\nanother focus of the support measures.
\n\n\n\nCollaboration between\nenterprises and major universities in Macau and mainland China was mentioned in\nthe latest announcement, with e-commerce training bases eligible for a one-time\nsubsidy of RMB500,000.
\n\n\n\nTailored-made training programmes\nwill be provided to attract young talent from Macau, with an annual subsidy of\nup to RMB1.5 million.
\n\n\n\nUp-and-coming talent\nwho complete certified training courses and join enterprises in the cooperation\nzone can receive a subsidy of up to RMB2,500, which goes up to RMB4,000 for\nMacau locals.
\n\n\n\nTo create a vibrant\ne-commerce atmosphere, event funding of up to RMB3 million will be provided to organisations\nthat hold national e-commerce festivals, product selection events, and industry\nevents that play host to at least 500 attendees.
\n\n\n\nAdditionally, online\nand offline combined live-streaming festivals held in the cooperation zone or\nMacau can receive a maximum subsidy of RMB500,000 for events lasting up to\nthree days.
\n", "content_text": "Hengqin authorities have\nintroduced a package of measures to promote the development of the e-commerce\neco-system, with such businesses in demonstration zones to benefit from financial\nsupport. \n\n\n\nTop-rated zones can now enjoy 30 per cent of their fixed asset investment, capped at RMB100 million (US$13.8 million/ MOP110.87 million)\n\n\n\nZones that are still\nundergoing the stage of growth are eligible for up to 20 per cent of their\nfixed asset investment, capped at RMB20 million yuan. \n\n\n\nAdditionally, the\nformer zones will receive operational subsidies of up to RMB20 million yuan per\nyear, whereas the latter are eligible to up to RMB5 million per year.\n\n\n\nEnterprises will\nbenefit from various subsidies to reduce operational costs \u2013 covering office\nspace rent, cross-border network connections, property purchases.\n\n\n\nMoreover, they can\nreceive a one-time settlement incentive of up to RMB20 million.\n\n\n\nTo support the\nestablishment of cross-border e-commerce service providers, subsidies of up to\n5 per cent of service fees will be granted \u2013 up to a maximum of 2.5 million\nyuan per year. \n\n\n\nBusinesses will also\nreceive financial support for trademark registration abroad, establishing\nindependent platforms, leasing overseas warehouses, obtaining logistics\ninsurance, and building product selection centers for brand expansion overseas.\n\n\n\nIn order to recognise\nthe rising trend of live-streaming e-commerce, support measures for this field\ninclude provisions for developing live-streaming e-commerce bases. \n\n\n\nEligible bases can\nreceive subsidies of 50 per cent of their investment, up to a maximum of 3\nmillion yuan.\n\n\n\nTalent development is\nanother focus of the support measures. \n\n\n\nCollaboration between\nenterprises and major universities in Macau and mainland China was mentioned in\nthe latest announcement, with e-commerce training bases eligible for a one-time\nsubsidy of RMB500,000. \n\n\n\nTailored-made training programmes\nwill be provided to attract young talent from Macau, with an annual subsidy of\nup to RMB1.5 million.\n\n\n\nUp-and-coming talent\nwho complete certified training courses and join enterprises in the cooperation\nzone can receive a subsidy of up to RMB2,500, which goes up to RMB4,000 for\nMacau locals.\n\n\n\nTo create a vibrant\ne-commerce atmosphere, event funding of up to RMB3 million will be provided to organisations\nthat hold national e-commerce festivals, product selection events, and industry\nevents that play host to at least 500 attendees. \n\n\n\nAdditionally, online\nand offline combined live-streaming festivals held in the cooperation zone or\nMacau can receive a maximum subsidy of RMB500,000 for events lasting up to\nthree days.", "date_published": "July 16, 2024", "date_modified": "July 16, 2024 - 20:47", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/c60IDEspmUMupUJgXvw5.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA" ], "summary": "Hengqin authorities have introduced a package of measures to promote the development of the e-commerce eco-system, with such businesses in demonstration zones to benefit from financial support. " }, { "id": "https://www.macaubusiness.com/macau-gaming-still-resilient-amid-illegal-money-exchange-crackdown-citi/", "url": "https://www.macaubusiness.com/macau-gaming-still-resilient-amid-illegal-money-exchange-crackdown-citi/", "title": "Macau gaming still resilient amid illegal money exchange crackdown: Citi", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240716181212-150x150.jpg\")
\nInvestors\u2019 concern about a possible crackdown on illegal cross-border fund flows and its potential impact on Macau’s gross gaming revenue (GGR) is likely \u2018overdone\u2019, brokerage firm Citigroup has said.
\n\n\n\nIn a recent update, analysts George Choi and Ryan Cheung noted that gaming demand in Macau is showing improving trends in July, despite the action taken to curb illegal money exchange activities that began in June.
\n\n\n\n\u201cWe continue to believe that most players in Macau have their own legitimate ways to get their funds over to Macau, sufficient for them to bet as much as HK$1 million/hand,\u201d the analysts wrote.
\n\n\n\nEarlier in June, China\u2019s Ministry of Public Security urged security forces, not only in Macau but also on the Chinese mainland, to strengthen cooperation in clamping down on illegal money exchange in Macau.
\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.
\n\n\n\nBased on Citigroup’s observations, the total wagers of the premium mass segment surged by 34 per cent year-on-year to HKD12.2 million (MOP12.6 million/ US$1.56 million) in July, driven by a 61 per cent increase in the number of premium mass players.
\n\n\n\nThis implies that wager per player in July has recovered to HKD21,193, indicating a 15 per cent month-on-month rise amidst robust gaming demand.
\n\n\n\nThe number of whales, defined as those betting at least HKD100,000, increased to 23 in July this year, compared to the figure of 19 reported in July 2023.
\n\n\n\nGalaxy and Sands China ranked 1 and 2 in the brokerage\u2019s premium mass survey, each holding a 25 per cent market share in terms of the total wager observed, with 11 out of the 23 whales playing at their casinos.
\n", "content_text": "Investors\u2019 concern about a possible crackdown on illegal cross-border fund flows and its potential impact on Macau’s gross gaming revenue (GGR) is likely \u2018overdone\u2019, brokerage firm Citigroup has said.\n\n\n\nIn a recent update, analysts George Choi and Ryan Cheung noted that gaming demand in Macau is showing improving trends in July, despite the action taken to curb illegal money exchange activities that began in June.\n\n\n\n\u201cWe continue to believe that most players in Macau have their own legitimate ways to get their funds over to Macau, sufficient for them to bet as much as HK$1 million/hand,\u201d the analysts wrote.\n\n\n\nEarlier in June, China\u2019s Ministry of Public Security urged security forces, not only in Macau but also on the Chinese mainland, to strengthen cooperation in clamping down on illegal money exchange in Macau.\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.\n\n\n\nBased on Citigroup’s observations, the total wagers of the premium mass segment surged by 34 per cent year-on-year to HKD12.2 million (MOP12.6 million/ US$1.56 million) in July, driven by a 61 per cent increase in the number of premium mass players.\n\n\n\nThis implies that wager per player in July has recovered to HKD21,193, indicating a 15 per cent month-on-month rise amidst robust gaming demand.\n\n\n\nThe number of whales, defined as those betting at least HKD100,000, increased to 23 in July this year, compared to the figure of 19 reported in July 2023.\n\n\n\nGalaxy and Sands China ranked 1 and 2 in the brokerage\u2019s premium mass survey, each holding a 25 per cent market share in terms of the total wager observed, with 11 out of the 23 whales playing at their casinos.", "date_published": "July 16, 2024", "date_modified": "July 16, 2024 - 18:17", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240716181212.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Investors\u2019 concern about a possible crackdown on illegal cross-border fund flows and its potential impact on Macau's gross gaming revenue (GGR) is likely \u2018overdone\u2019, brokerage firm Citigroup has said." }, { "id": "https://www.macaubusiness.com/macau-outlines-health-goals-for-residents-to-encourage-physical-activity/", "url": "https://www.macaubusiness.com/macau-outlines-health-goals-for-residents-to-encourage-physical-activity/", "title": "Macau outlines health goals for residents to encourage physical activity", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_2194-1-150x150.jpeg\")
\nMacau authorities have\nformulated a health blueprint amidst a perceived shift to an ageing population.\n
\n\n\n\nAccording to the\nblueprint \u2013 based on the Healthy China 2030 \u2013 presented on Tuesday by Alvis Lo\nIek Long, director of the Health Bureau, as many as 20 specific goals and over\n50 assessment indicators have been laid out, covering fields such as health\nrisks, mental health, chronic diseases, and infectious diseases.
\n\n\n\nThe overall objective\nis to lift the population\u2019s health literacy by 2030 when \u2018healthy lifestyles\nare basically adopted\u2019.
\n\n\n\nThe authorities are also\nlooking to control the incidence of major chronic diseases.
\n\n\n\n“With urban\ndevelopment, an ageing population and changing lifestyles, chronic diseases\nsuch as hypertension, diabetes, cardiovascular disease and cancer have become\nthe major health challenges,” the health chief said.
\n\n\n\n“This has led to a\ncontinuous increase in demand for medical services and has also become the\nleading cause of death.”
\n\n\n\nAccording to the\nStatistics and Census Service, the number of young people is expected to fall\nbelow the number of older people for the first time.
\n\n\n\nOver the next two\ndecades, the proportion of over-65s is projected to rise from 12.2 per cent in\n2021 to 14.2 per cent in 2023, with the upward trajectory on track to reach almost\n21 per cent by 2041 \u2013 a situation that will earn Macau the \u2018super-aged society\u2019\ntitle by the World Health Organization standards.
\n\n\n\nWhat is worth paying attention to?
\n\n\n\nThe results of a survey\nconducted during the 2022-2023 academic year indicate that 90 per cent of\nsecondary school students did not meet the recommended amount of daily physical\nactivity, with most of their time dedicated to a sedentary lifestyle.
\n\n\n\n70 per cent of their\nleisure time was spent in front of a computer screen, and 40 per cent of them\nwere found to have an inadequate intake of fruit and vegetables.
\n\n\n\nIn addition, 25 per\ncent of the city’s residents were found to have been suffering from chronic\ndiseases, which were the main cause of over 80 per cent of deaths in the city.
\n\n\n\nAccording to a\ngovernment-commissioned analysis by a Hong Kong academic institution, the\ndemand for hospital care is six times higher for the elderly than for other age\nbrackets.
\n", "content_text": "Macau authorities have\nformulated a health blueprint amidst a perceived shift to an ageing population.\n\n\n\n\nAccording to the\nblueprint \u2013 based on the Healthy China 2030 \u2013 presented on Tuesday by Alvis Lo\nIek Long, director of the Health Bureau, as many as 20 specific goals and over\n50 assessment indicators have been laid out, covering fields such as health\nrisks, mental health, chronic diseases, and infectious diseases.\n\n\n\nThe overall objective\nis to lift the population\u2019s health literacy by 2030 when \u2018healthy lifestyles\nare basically adopted\u2019.\n\n\n\nThe authorities are also\nlooking to control the incidence of major chronic diseases.\n\n\n\n“With urban\ndevelopment, an ageing population and changing lifestyles, chronic diseases\nsuch as hypertension, diabetes, cardiovascular disease and cancer have become\nthe major health challenges,” the health chief said. \n\n\n\n“This has led to a\ncontinuous increase in demand for medical services and has also become the\nleading cause of death.”\n\n\n\nAccording to the\nStatistics and Census Service, the number of young people is expected to fall\nbelow the number of older people for the first time.\n\n\n\nOver the next two\ndecades, the proportion of over-65s is projected to rise from 12.2 per cent in\n2021 to 14.2 per cent in 2023, with the upward trajectory on track to reach almost\n21 per cent by 2041 \u2013 a situation that will earn Macau the \u2018super-aged society\u2019\ntitle by the World Health Organization standards.\n\n\n\nWhat is worth paying attention to?\n\n\n\nThe results of a survey\nconducted during the 2022-2023 academic year indicate that 90 per cent of\nsecondary school students did not meet the recommended amount of daily physical\nactivity, with most of their time dedicated to a sedentary lifestyle. \n\n\n\n70 per cent of their\nleisure time was spent in front of a computer screen, and 40 per cent of them\nwere found to have an inadequate intake of fruit and vegetables.\n\n\n\nIn addition, 25 per\ncent of the city’s residents were found to have been suffering from chronic\ndiseases, which were the main cause of over 80 per cent of deaths in the city.\n\n\n\nAccording to a\ngovernment-commissioned analysis by a Hong Kong academic institution, the\ndemand for hospital care is six times higher for the elderly than for other age\nbrackets.", "date_published": "July 16, 2024", "date_modified": "July 16, 2024 - 15:20", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_2194-1.jpeg", "tags": [ "Macau", "MNA", "MNA Featured" ], "summary": "Macau authorities have formulated a health blueprint amidst a perceived shift to an ageing population. " }, { "id": "https://www.macaubusiness.com/more-than-16-mln-travellers-recorded-in-h1-over-82-pct-recovery/", "url": "https://www.macaubusiness.com/more-than-16-mln-travellers-recorded-in-h1-over-82-pct-recovery/", "title": "More than 16 mln travellers recorded in H1, over 82 pct recovery", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240611184248-1-150x150.jpg\")
\nMacau played host to over 16 million traveller arrivals in the first half of 2024, with the figure suggesting an 82.5 per cent recovery compared to 2019.
\n\n\n\nThe figure \u2013 16.729 million exactly \u2013 which comes from the Macao Government Tourism Office, also translates to a daily average of 91,918 \u2013 up 43.6 per cent year on year.
\n\n\n\nThe authorities say that there were nearly 1.17 million visitors from abroad \u2013 up 146.4 per cent year on year, and about 7.3 per cent of the total recorded.
\n\n\n\nThe tally is about 67.2 per cent of the 2019 level.
\n\n\n\nEarlier this year, the government set a target of 33 million visitors for 2024, and the total achieved so far is almost 48.5 per cent.
\n\n\n\nPackage tours
\n\n\n\nThe first five months saw 928,000 visitors travelling to the city on group tours \u2013 2.3 times more than there were a year earlier. There was a 14-fold increase when it came to international travellers, which totalled 88,000.
\n\n\n\nHotel occupancy rates
\n\n\n\nAs for hotel accommodation, an average of 84.3 per cent was recorded for the January-May period, up 7.7 percentage points compared to 2023.
\n\n\n\nHowever, it is still 7.2 percentage points short of the 2019 record of 91.5 per cent.
\n\n\n\nIn terms of guests, the first five months of the year saw about 6.135 million, up 25 per cent year on year or 6 per cent compared to 2019.
\n\n\n\nAt a meeting held by the government-led tourism development committee, Secretary for Economy and Finance Lei Wai Nong emphasised the need for a \u201cquality boost\u201d for the tourism industry this year \u2013 an occasion that marks 25 years since Macau\u2019s return to Chinese rule.
\n\n\n\nA lineup of events, including fireworks displays, will take place later this year, in addition to over 250,000 offers available since early this year such as air tickets, transport, hotel stays, and dining experiences.
\n", "content_text": "Macau played host to over 16 million traveller arrivals in the first half of 2024, with the figure suggesting an 82.5 per cent recovery compared to 2019.\n\n\n\nThe figure \u2013 16.729 million exactly \u2013 which comes from the Macao Government Tourism Office, also translates to a daily average of 91,918 \u2013 up 43.6 per cent year on year.\n\n\n\nThe authorities say that there were nearly 1.17 million visitors from abroad \u2013 up 146.4 per cent year on year, and about 7.3 per cent of the total recorded.\n\n\n\nThe tally is about 67.2 per cent of the 2019 level.\n\n\n\nEarlier this year, the government set a target of 33 million visitors for 2024, and the total achieved so far is almost 48.5 per cent.\n\n\n\nPackage tours\n\n\n\nThe first five months saw 928,000 visitors travelling to the city on group tours \u2013 2.3 times more than there were a year earlier. There was a 14-fold increase when it came to international travellers, which totalled 88,000.\n\n\n\nHotel occupancy rates\n\n\n\nAs for hotel accommodation, an average of 84.3 per cent was recorded for the January-May period, up 7.7 percentage points compared to 2023.\n\n\n\nHowever, it is still 7.2 percentage points short of the 2019 record of 91.5 per cent.\n\n\n\nIn terms of guests, the first five months of the year saw about 6.135 million, up 25 per cent year on year or 6 per cent compared to 2019.\n\n\n\nAt a meeting held by the government-led tourism development committee, Secretary for Economy and Finance Lei Wai Nong emphasised the need for a \u201cquality boost\u201d for the tourism industry this year \u2013 an occasion that marks 25 years since Macau\u2019s return to Chinese rule.\n\n\n\nA lineup of events, including fireworks displays, will take place later this year, in addition to over 250,000 offers available since early this year such as air tickets, transport, hotel stays, and dining experiences.", "date_published": "July 16, 2024", "date_modified": "July 16, 2024 - 13:01", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240611184248-1.jpg", "tags": [ "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/ocbc-faces-decline-in-macau-housing-loans/", "url": "https://www.macaubusiness.com/ocbc-faces-decline-in-macau-housing-loans/", "title": "OCBC faces decline in Macau housing loans", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/123-150x150.jpg\")
\nOversea-Chinese Banking Corporation has seen a drop of 10 per cent in its mortgage loan portfolio dedicated to Macau business, according to Lou Pou Hong, director and chief executive, OCBC Macau.
\n\n\n\nIn a recent interview with Hong Kong media outlet Sing Tao Daily, Lou spoke of the challenges facing the second largest foreign bank in Macau with 11 branches.
\n\n\n\nHousing loans, as he pointed out, once accounted for over 70 per cent of the total at the peak of this business segment. However, it has now declined to approximately 60 per cent.
\n\n\n\nUpwards of 10,000 approvals were made prior to the Covid pandemic, with the number down to some 3,000 last year, he illustrated.
\n\n\n\nAs a result, the amount of the annual issuance of fresh property loans has dropped to just one-fifth of its peak level.
\n\n\n\nNonetheless, the banker said that the bank continued to maintain high-quality mortgage loans, with a delinquency rate of less than 0.5 per cent \u2013 still significantly lower than the market average of over 3 per cent.
\n\n\n\nHis comments reflected the broader mood of caution surrounding home buying, with the latest residential property price index coming in at 219.9 \u2013 well below the comparable level of 268.3 in 2019.
\n\n\n\nReflecting on how locals have historically accumulated wealth through property investment, Lou noted that the trend had led to a high proportion of mortgage loans.
\n\n\n\nUsing himself as an example, he bought his first home in 2003, when a unit of over 1,000 square feet was priced at MOP600,000.
\n\n\n\nThe price once peaked at around MOP8 million but has now settled back to over MOP6 million, he said.
\n", "content_text": "Oversea-Chinese Banking Corporation has seen a drop of 10 per cent in its mortgage loan portfolio dedicated to Macau business, according to Lou Pou Hong, director and chief executive, OCBC Macau.\n\n\n\nIn a recent interview with Hong Kong media outlet Sing Tao Daily, Lou spoke of the challenges facing the second largest foreign bank in Macau with 11 branches.\n\n\n\nHousing loans, as he pointed out, once accounted for over 70 per cent of the total at the peak of this business segment. However, it has now declined to approximately 60 per cent.\n\n\n\nUpwards of 10,000 approvals were made prior to the Covid pandemic, with the number down to some 3,000 last year, he illustrated. \n\n\n\nAs a result, the amount of the annual issuance of fresh property loans has dropped to just one-fifth of its peak level.\n\n\n\nNonetheless, the banker said that the bank continued to maintain high-quality mortgage loans, with a delinquency rate of less than 0.5 per cent \u2013 still significantly lower than the market average of over 3 per cent.\n\n\n\nHis comments reflected the broader mood of caution surrounding home buying, with the latest residential property price index coming in at 219.9 \u2013 well below the comparable level of 268.3 in 2019.\n\n\n\nReflecting on how locals have historically accumulated wealth through property investment, Lou noted that the trend had led to a high proportion of mortgage loans.\n\n\n\nUsing himself as an example, he bought his first home in 2003, when a unit of over 1,000 square feet was priced at MOP600,000. \n\n\n\nThe price once peaked at around MOP8 million but has now settled back to over MOP6 million, he said.", "date_published": "July 16, 2024", "date_modified": "July 19, 2024 - 17:40", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/123.jpg", "tags": [ "Finance", "International", "Macau", "MNA" ], "summary": "Oversea-Chinese Banking Corporation has seen a drop of 10 per cent in its mortgage loan portfolio dedicated to Macau business, according to its deputy general manager Lou Pou Hong." }, { "id": "https://www.macaubusiness.com/man-nabbed-in-failed-casino-robbery-attempt/", "url": "https://www.macaubusiness.com/man-nabbed-in-failed-casino-robbery-attempt/", "title": "Man claiming to have \u2018explosives\u2019 nabbed in failed casino robbery attempt", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Hong-Kong-dollar-150x150.png\")
\nA mainland Chinese man has been arrested after his failed robbery attempt at a Macau casino.
\n\n\n\nThe suspect, identified as Zhao by the Judiciary Police, had previously lost money at the same casino years ago, which motivated his ill-fated plan.
\n\n\n\nAccording to the police authorities, the suspect approached the cashier’s counter holding a bag and claimed to have an explosive device, demanding HKD2 million.
\n\n\n\nFearing the threat, the staff discreetly alerted the security team, the authorities said.
\n\n\n\nIt was said that security personnel fast arrived and apprehended Zhao.
\n\n\n\nDuring the scuffle, he injured one of the guards, whose collective efforts had subdued him and prevented any harm.
\n\n\n\nThe police said that Zhao had admitted his intention to rob the cashier’s counter due to his previous losses.
\n\n\n\nThe alleged explosive device turned out to be a power bank. The suspect now faces charges of robbery and causing bodily harm.
\n\n\n\n\n", "content_text": "A mainland Chinese man has been arrested after his failed robbery attempt at a Macau casino. \n\n\n\nThe suspect, identified as Zhao by the Judiciary Police, had previously lost money at the same casino years ago, which motivated his ill-fated plan.\n\n\n\nAccording to the police authorities, the suspect approached the cashier’s counter holding a bag and claimed to have an explosive device, demanding HKD2 million. \n\n\n\nFearing the threat, the staff discreetly alerted the security team, the authorities said.\n\n\n\nIt was said that security personnel fast arrived and apprehended Zhao. \n\n\n\nDuring the scuffle, he injured one of the guards, whose collective efforts had subdued him and prevented any harm.\n\n\n\nThe police said that Zhao had admitted his intention to rob the cashier’s counter due to his previous losses. \n\n\n\nThe alleged explosive device turned out to be a power bank. The suspect now faces charges of robbery and causing bodily harm.", "date_published": "July 15, 2024", "date_modified": "July 16, 2024 - 00:14", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Hong-Kong-dollar.png", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "A mainland Chinese man has been arrested after his failed robbery attempt at a Macau casino. " }, { "id": "https://www.macaubusiness.com/h1-gdp-could-have-hit-mop194-5-bln-think-tank/", "url": "https://www.macaubusiness.com/h1-gdp-could-have-hit-mop194-5-bln-think-tank/", "title": "H1 GDP could have hit MOP194.5 bln: Think tank", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240715183902-150x150.png\")
\nMacau’s gross domestic product (GDP) for the first half of 2024 is predicted to reach MOP194.5 billion (US$24.2 billion), or a year-on-year growth rate of 17.5 per cent, propelling the economy to 87.5 per cent of its pre-Covid level, according to the Macau Economic Association.
\n\n\n\nIn the monthly economic prosperity index report published on Monday, the association also forecasts a year-on-year GDP growth rate of around 10 per cent for the second quarter of this year.
\n\n\n\nThe second half of 2024 is expected to see lower local GDP growth due to the high comparison base set by the strong GDP performance in the latter half of last year.
\n\n\n\nThe researcher highlighted that Macau’s economic recovery in the first half of 2024 had appeared imbalanced.
\n\n\n\nIn spite of the imbalance, the overall economic prosperity index remains stable, thanks to favourable factors such as rising visitor arrivals and service exports.
\n\n\n\nThe think tank also noted that Macau\u2019s gross gaming revenue (GGR) for the first half of the year reached MOP113.75 billion, representing a year-on-year surge of nearly 42 per cent while achieving 52.7 per cent of the full-year MOP216 billion target.
\n\n\n\nLooking ahead to the second half of the year, the association anticipates challenges for the domestic economic recovery, arising from the complex external environment and the insufficient consumer confidence and demand of mainland residents.
\n\n\n\nThe economic prosperity index for May and June stands at 6.4 and 6.3, respectively.
\n\n\n\nThe index for the forthcoming three months, July to September, will range between 6.5 and 6.6, maintaining a ‘stable’ level.
\n", "content_text": "Macau’s gross domestic product (GDP) for the first half of 2024 is predicted to reach MOP194.5 billion (US$24.2 billion), or a year-on-year growth rate of 17.5 per cent, propelling the economy to 87.5 per cent of its pre-Covid level, according to the Macau Economic Association.\n\n\n\nIn the monthly economic prosperity index report published on Monday, the association also forecasts a year-on-year GDP growth rate of around 10 per cent for the second quarter of this year.\n\n\n\nThe second half of 2024 is expected to see lower local GDP growth due to the high comparison base set by the strong GDP performance in the latter half of last year.\n\n\n\nThe researcher highlighted that Macau’s economic recovery in the first half of 2024 had appeared imbalanced. \n\n\n\nIn spite of the imbalance, the overall economic prosperity index remains stable, thanks to favourable factors such as rising visitor arrivals and service exports.\n\n\n\nThe think tank also noted that Macau\u2019s gross gaming revenue (GGR) for the first half of the year reached MOP113.75 billion, representing a year-on-year surge of nearly 42 per cent while achieving 52.7 per cent of the full-year MOP216 billion target.\n\n\n\nLooking ahead to the second half of the year, the association anticipates challenges for the domestic economic recovery, arising from the complex external environment and the insufficient consumer confidence and demand of mainland residents.\n\n\n\nThe economic prosperity index for May and June stands at 6.4 and 6.3, respectively. \n\n\n\nThe index for the forthcoming three months, July to September, will range between 6.5 and 6.6, maintaining a ‘stable’ level.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 18:41", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240715183902.png", "tags": [ "Macau", "MNA" ], "summary": "Local gross domestic product(GDP) for the first half of this year is predicted to reach MOP194.5 billion(US$24.2 billion), signifying a year-on-year growth rate of 17.5 per cent, propelling the economy to 87.5 per cent of its pre-Covid level, according to the Macau Economic Association." }, { "id": "https://www.macaubusiness.com/macau-makes-arrest-in-alleged-murder-case-of-chinese-tiktoker-in-thailand/", "url": "https://www.macaubusiness.com/macau-makes-arrest-in-alleged-murder-case-of-chinese-tiktoker-in-thailand/", "title": "Macau makes arrest in alleged murder case of Chinese TikToker in Thailand", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/10/Judiciary-Police-696x439-150x150.jpg\")
\nJudicial police investigators have arrested the male suspect in the alleged murder of a Chinese national in Thailand.
\n\n\n\nThe unemployed man, Ma Qingyan, aged 34, was found to have pawned a counterfeit watch in downtown Macau last week.
\n\n\n\nThe incident was reported to local police, who later intercepted the suspect at the Taipa Ferry Terminal.
\n\n\n\nFurther investigation later confirmed his identity as the mastermind behind the ransom kidnapping of TikToker Yan Ruimin, who arrived in Bangkok from Malaysia on her own.
\n\n\n\nThe 38-year-old’s remains were recovered by Thai police last Saturday after she had been missing for at least 10 days.
\n\n\n\nHer friend told Thai investigators that she was heading for Phuket prior to her disappearance.
\n\n\n\nAccording to Thai police authorities, Yan was killed and her body dismembered sometime on 1 July in overgrown grassland in Bang Phra, Mueang district, Chachoengsao province, some 50 kilometres east of Bangkok.
\n\n\n\nOne of the deceased’s relatives in mainland China, a brother-in-law, told local police that he had received a ransom demand of RMB1 million (US$140,000 million/ MOP1.1 million).
\n\n\n\nThe suspect is believed to have made his way into Macau via Hong Kong on 2 July.
\n\n\n\nIt was also reported that records of purchases in Macau were found on the victim’s WeChat account, suggesting that Ma may have travelled around the city for several days.
\n\n\n\nThe Macau authorities said that the suspect had already been transferred to the Chinese mainland for follow-up.
\n", "content_text": "Judicial police investigators have arrested the male suspect in the alleged murder of a Chinese national in Thailand. \n\n\n\nThe unemployed man, Ma Qingyan, aged 34, was found to have pawned a counterfeit watch in downtown Macau last week.\n\n\n\nThe incident was reported to local police, who later intercepted the suspect at the Taipa Ferry Terminal. \n\n\n\nFurther investigation later confirmed his identity as the mastermind behind the ransom kidnapping of TikToker Yan Ruimin, who arrived in Bangkok from Malaysia on her own.\n\n\n\nThe 38-year-old’s remains were recovered by Thai police last Saturday after she had been missing for at least 10 days.\n\n\n\nHer friend told Thai investigators that she was heading for Phuket prior to her disappearance.\n\n\n\nAccording to Thai police authorities, Yan was killed and her body dismembered sometime on 1 July in overgrown grassland in Bang Phra, Mueang district, Chachoengsao province, some 50 kilometres east of Bangkok.\n\n\n\nOne of the deceased’s relatives in mainland China, a brother-in-law, told local police that he had received a ransom demand of RMB1 million (US$140,000 million/ MOP1.1 million).\n\n\n\nThe suspect is believed to have made his way into Macau via Hong Kong on 2 July. \n\n\n\nIt was also reported that records of purchases in Macau were found on the victim’s WeChat account, suggesting that Ma may have travelled around the city for several days.\n\n\n\nThe Macau authorities said that the suspect had already been transferred to the Chinese mainland for follow-up.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 18:12", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/10/Judiciary-Police-696x439.jpg", "tags": [ "China", "International", "Macau", "MNA", "MNA Featured" ], "summary": "Judicial police investigators have arrested the male suspect in the alleged murder of a Chinese national in Thailand. " }, { "id": "https://www.macaubusiness.com/macau-likely-to-make-mop18-5-bln-in-casino-revenue-in-july-jp-morgan/", "url": "https://www.macaubusiness.com/macau-likely-to-make-mop18-5-bln-in-casino-revenue-in-july-jp-morgan/", "title": "Macau likely to make MOP18.5 bln in casino revenue in July: JP Morgan", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/03/IMG_0171-150x150.jpeg\")
\nMacau is expected to generate MOP18.5 billion (US$2.3 billion) in gross gaming revenue this month, a figure slightly below the original forecast of MOP19 billion.
\n\n\n\nAccording to JP Morgan Securities Asia Pacific, the downward revision is due to a “slower start to the month”.
\n\n\n\nThe first 14 days of the month saw only about MOP8.3 billion, or MOP593 million per day, analysts DS Kim, Mufan Shi and Selina Li wrote in a recent note.
\n\n\n\n“This implies that last week’s run rate improved by 15% y/y to MOP635 million/day (from only MOP550 million/day in week 1) as summer holiday demand gradually kicked in,” they wrote.
\n\n\n\nA gradual improvement in casino revenues is also expected following the recent conclusion of the UEFA European Championship.
\n\n\n\nIn terms of the mass market, the current level is at 105 to 110 per cent of the pre-Covid level, while VIP is around the low to mid-20 per cent range.
\n\n\n\n“This is a little softer than the trends in Q2, but this is a weekly trend that can be very volatile either way and we wouldn’t read too much into the print just yet,” the analysts add.
\n\n\n\nSince the end of last week, an average of 87,000 people a day have been visiting the city, according to the Macao Government Tourism Office.
\n\n\n\nThe authorities expect hotel occupancy to rise to 90 per cent, up from 88 per cent in the first half of the year.
\n", "content_text": "Macau is expected to generate MOP18.5 billion (US$2.3 billion) in gross gaming revenue this month, a figure slightly below the original forecast of MOP19 billion.\n\n\n\nAccording to JP Morgan Securities Asia Pacific, the downward revision is due to a “slower start to the month”. \n\n\n\nThe first 14 days of the month saw only about MOP8.3 billion, or MOP593 million per day, analysts DS Kim, Mufan Shi and Selina Li wrote in a recent note.\n\n\n\n“This implies that last week’s run rate improved by 15% y/y to MOP635 million/day (from only MOP550 million/day in week 1) as summer holiday demand gradually kicked in,” they wrote.\n\n\n\nA gradual improvement in casino revenues is also expected following the recent conclusion of the UEFA European Championship.\n\n\n\nIn terms of the mass market, the current level is at 105 to 110 per cent of the pre-Covid level, while VIP is around the low to mid-20 per cent range.\n\n\n\n“This is a little softer than the trends in Q2, but this is a weekly trend that can be very volatile either way and we wouldn’t read too much into the print just yet,” the analysts add.\n\n\n\nSince the end of last week, an average of 87,000 people a day have been visiting the city, according to the Macao Government Tourism Office. \n\n\n\nThe authorities expect hotel occupancy to rise to 90 per cent, up from 88 per cent in the first half of the year.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 15:51", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/03/IMG_0171.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau is expected to generate MOP18.5 billion (US$2.3 billion) in gross gaming revenue this month, a figure slightly below the original forecast of MOP19 billion." }, { "id": "https://www.macaubusiness.com/mainland-visitor-arrivals-likely-to-hit-91-100-pct-of-2019-level-report/", "url": "https://www.macaubusiness.com/mainland-visitor-arrivals-likely-to-hit-91-100-pct-of-2019-level-report/", "title": "Mainland visitor arrivals likely to hit 91-100 pct of 2019 level: Report", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240715150448-150x150.png\")
\nThe number of mainland Chinese visitors to Macau is expected to recover to 91-100 per cent of the pre-pandemic level in 2024, representing a year-on-year hike of 33.9 per cent, according to a recent report released by the Asia Tourism Exchange Center (ATEC).
\n\n\n\nThe 2024 Tourism Market Forecast for Hong Kong and Macau indicates that travel industry in the two SARs will see a rapid rebound this year, driven by support from mainland authorities, a series of cultural and tourism events in both regions, and the accelerated recovery of the aviation sector.
\n\n\n\nIn the report, the research team highlights that the performing arts events held in Macau this year have contributed to the growth in visitor arrivals, citing that from January to May, mainland visitor arrivals surged by 62.3 per cent compared to the same period last year.
\n\n\n\nFurthermore, the report emphasises the efficacy of various promotional campaigns in boosting overall visitor arrivals to Macau, including the special travel offers for international visitors on air tickets, cross-border transport, hotel accommodation, dining, entertainment and show tickets.
\n\n\n\nAnother survey conducted by ATEC reveals that the willingness of Macau residents to travel to the Chinese mainland has exceeded pre-pandemic levels.
\n\n\n\nThis surge is attributed to convienient immigration procedures, efficient transport, and favourable exchange rates.
\n\n\n\nMainland China is estimated to welcome at least 32.5 million visitor arrivals from Macau residents this year, reaching 121 per cent of the 2019 level.
\n\n\n\nPopular mainland travel destinations for Macau and Hong Kong residents include Beijing, Shanghai, Guangdong, Tibet, and Xinjiang.
\n", "content_text": "The number of mainland Chinese visitors to Macau is expected to recover to 91-100 per cent of the pre-pandemic level in 2024, representing a year-on-year hike of 33.9 per cent, according to a recent report released by the Asia Tourism Exchange Center (ATEC).\n\n\n\nThe 2024 Tourism Market Forecast for Hong Kong and Macau indicates that travel industry in the two SARs will see a rapid rebound this year, driven by support from mainland authorities, a series of cultural and tourism events in both regions, and the accelerated recovery of the aviation sector.\n\n\n\nIn the report, the research team highlights that the performing arts events held in Macau this year have contributed to the growth in visitor arrivals, citing that from January to May, mainland visitor arrivals surged by 62.3 per cent compared to the same period last year.\n\n\n\nFurthermore, the report emphasises the efficacy of various promotional campaigns in boosting overall visitor arrivals to Macau, including the special travel offers for international visitors on air tickets, cross-border transport, hotel accommodation, dining, entertainment and show tickets. \n\n\n\nAnother survey conducted by ATEC reveals that the willingness of Macau residents to travel to the Chinese mainland has exceeded pre-pandemic levels. \n\n\n\nThis surge is attributed to convienient immigration procedures, efficient transport, and favourable exchange rates.\n\n\n\nMainland China is estimated to welcome at least 32.5 million visitor arrivals from Macau residents this year, reaching 121 per cent of the 2019 level.\n\n\n\nPopular mainland travel destinations for Macau and Hong Kong residents include Beijing, Shanghai, Guangdong, Tibet, and Xinjiang.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 15:07", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240715150448.png", "tags": [ "China", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/chinas-third-plenum-begins-with-economic-policy-taking-centre-stage/", "url": "https://www.macaubusiness.com/chinas-third-plenum-begins-with-economic-policy-taking-centre-stage/", "title": "China\u2019s Third Plenum begins with economic policy taking centre stage", "content_html": "\n*with AFP and Xinhua
\n\n\n\nChina’s Communist Party kicked off a key meeting on Monday, known as the third plenum, led by President Xi Jinping and focused on the economy, state media reported.
\n\n\n\n“The 20th Central Committee of the Communist Party of China (CPC) started its third plenary session in Beijing on Monday morning,” Xinhua news agency said.
\n\n\n\nXi Jinping, general secretary of the CPC Central Committee, \u201cdelivered a work report on behalf of the Political Bureau of the CPC Central Committee and expounded on a draft decision of the CPC Central Committee on further comprehensively deepening reform and advancing Chinese modernization.\u201d
\n\n\n\nThe meeting begins as the country posted a 4.7 percent year-on-year growth rate for the second quarter.
\n\n\n\n\u201cBy quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,\u201d Beijing\u2019s National Bureau of Statistics (NBS) said in a statement.
\n\n\n\nThe quarterly figure was lower than the 5.1 percent predicted by analysts polled by Bloomberg.
\n\n\n\nTing Lu, chief China economist at Nomura, said the meeting was “intended to generate and discuss big, long-term ideas and structural reforms instead of making short-term policy adjustments.”
\n\n\n\nThe Third Plenum has previously been an occasion for the party’s top leadership to unveil major economic policy shifts.
\n\n\n\nIn 1978, then-leader Deng Xiaoping used the meeting to announce market reforms that would put China on the path to dazzling economic growth by opening it to the world.
\n\n\n\nMore recently, following the closed-door meeting in 2013, the leadership pledged to give the free market a “decisive” role in resource allocation, as well as other sweeping changes to economic and social policy.
\n", "content_text": "*with AFP and Xinhua \n\n\n\nChina’s Communist Party kicked off a key meeting on Monday, known as the third plenum, led by President Xi Jinping and focused on the economy, state media reported.\n\n\n\n“The 20th Central Committee of the Communist Party of China (CPC) started its third plenary session in Beijing on Monday morning,” Xinhua news agency said.\n\n\n\nXi Jinping, general secretary of the CPC Central Committee, \u201cdelivered a work report on behalf of the Political Bureau of the CPC Central Committee and expounded on a draft decision of the CPC Central Committee on further comprehensively deepening reform and advancing Chinese modernization.\u201d\n\n\n\nThe meeting begins as the country posted a 4.7 percent year-on-year growth rate for the second quarter.\n\n\n\n\u201cBy quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,\u201d Beijing\u2019s National Bureau of Statistics (NBS) said in a statement.\n\n\n\nThe quarterly figure was lower than the 5.1 percent predicted by analysts polled by Bloomberg.\n\n\n\nTing Lu, chief China economist at Nomura, said the meeting was “intended to generate and discuss big, long-term ideas and structural reforms instead of making short-term policy adjustments.”\n\n\n\nThe Third Plenum has previously been an occasion for the party’s top leadership to unveil major economic policy shifts.\n\n\n\nIn 1978, then-leader Deng Xiaoping used the meeting to announce market reforms that would put China on the path to dazzling economic growth by opening it to the world.\n\n\n\nMore recently, following the closed-door meeting in 2013, the leadership pledged to give the free market a “decisive” role in resource allocation, as well as other sweeping changes to economic and social policy.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 23:52", "author": { "name": "Newsdesk", "url": "https://www.macaubusiness.com/author/newsdesk/", "avatar": "https://secure.gravatar.com/avatar/75fb5300755cbaf69669b79f302247f2?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/08/Central-Committee-CPC.jpg", "tags": [ "China", "Macau", "MNA" ], "summary": "Xi Jinping, general secretary of the CPC Central Committee, \u201cdelivered a work report on behalf of the Political Bureau of the CPC Central Committee and expounded on a draft decision of the CPC Central Committee on further comprehensively deepening reform and advancing Chinese modernization.\u201d" }, { "id": "https://www.macaubusiness.com/zhuhai-court-invites-liquidation-manager-for-hengqin-developer/", "url": "https://www.macaubusiness.com/zhuhai-court-invites-liquidation-manager-for-hengqin-developer/", "title": "Zhuhai court invites liquidation manager for Hengqin developer", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-7-150x150.jpg\")
\nA Zhuhai court has issued an order requiring the appointment of an administrator for a Hengqin property developer in liquidation.
\n\n\n\nThe order was issued by the\u00a0Intermediate People’s Court\u00a0of\u00a0Zhuhai on 9 July, with an application deadline of 22 July.
\n\n\n\nAccording to an online notice, the property developer was registered with the Hengqin authorities in September 2013 with a capital of RMB760 million (US$104 million/ MOP842 million).
\n\n\n\nIts flagship project, the Haoyi Fortune Center, is a corporate tower block whose construction was completed in early December 2020 against a backdrop of the Covid-19 pandemic.
\n\n\n\nIt is one of several major high-rise buildings facing the Hengqin Immigration Hall.
\n\n\n\nThe complex — comprising two blocks, one of 30 storeys and the other of 45 storeys — boasts a gross floor area of over 221,880 square metres and houses 988 offices, 890 commercial spaces and 608 serviced apartments, as well as around 1,300 parking spaces.
\n\n\n\nThere are no existing mortgages or liens on the project, according to the court order.
\n\n\n\nIt was not the first time the financially troubled developer had come under public scrutiny.
\n\n\n\nIn 2021, scores of property buyers staged a protest outside the complex after the developer failed to deliver on its promise to complete the project as scheduled.
\n\n\n\nIt was widely reported that as many as 3,000 units and over 200 buyers were involved.
\n\n\n\nThe developer had initially promised to complete the construction and furnishing of the units by the end of 2020.
\n\n\n\nHowever, the Covid-19 pandemic caused multiple delays, resulting in the completion date being pushed back to mid-2021.
\n\n\n\nIt was later pushed back again to the end of that year for the same reason.
\n\n\n\nThe projects erupted after buyers were informed that there would be no definite timeline for delivery of the units, which reportedly cost over RMB40,000 per square metre.
\n", "content_text": "A Zhuhai court has issued an order requiring the appointment of an administrator for a Hengqin property developer in liquidation. \n\n\n\nThe order was issued by the\u00a0Intermediate People’s Court\u00a0of\u00a0Zhuhai on 9 July, with an application deadline of 22 July. \n\n\n\nAccording to an online notice, the property developer was registered with the Hengqin authorities in September 2013 with a capital of RMB760 million (US$104 million/ MOP842 million). \n\n\n\nIts flagship project, the Haoyi Fortune Center, is a corporate tower block whose construction was completed in early December 2020 against a backdrop of the Covid-19 pandemic.\n\n\n\nIt is one of several major high-rise buildings facing the Hengqin Immigration Hall.\n\n\n\nThe complex — comprising two blocks, one of 30 storeys and the other of 45 storeys — boasts a gross floor area of over 221,880 square metres and houses 988 offices, 890 commercial spaces and 608 serviced apartments, as well as around 1,300 parking spaces.\n\n\n\nThere are no existing mortgages or liens on the project, according to the court order.\n\n\n\nIt was not the first time the financially troubled developer had come under public scrutiny. \n\n\n\nIn 2021, scores of property buyers staged a protest outside the complex after the developer failed to deliver on its promise to complete the project as scheduled.\n\n\n\nIt was widely reported that as many as 3,000 units and over 200 buyers were involved.\n\n\n\nThe developer had initially promised to complete the construction and furnishing of the units by the end of 2020. \n\n\n\nHowever, the Covid-19 pandemic caused multiple delays, resulting in the completion date being pushed back to mid-2021. \n\n\n\nIt was later pushed back again to the end of that year for the same reason. \n\n\n\nThe projects erupted after buyers were informed that there would be no definite timeline for delivery of the units, which reportedly cost over RMB40,000 per square metre.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 12:45", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-7.jpg", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "A Zhuhai court has issued an order requiring the appointment of an administrator for a Hengqin property developer in liquidation. " }, { "id": "https://www.macaubusiness.com/chinas-economy-grows-4-7-percent-in-q2/", "url": "https://www.macaubusiness.com/chinas-economy-grows-4-7-percent-in-q2/", "title": "China\u2019s economy grows 4.7 percent in Q2", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/05/China-trade-150x150.jpg\")
\nChina’s economy grew 4.7 percent year-on-year in the second quarter of 2024, official data showed Monday.
\n\n\n\n“By quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,” Beijing’s National Bureau of Statistics (NBS) said in a statement.
\n\n\n\nThe figures were lower than the 5.1 percent predicted by analysts polled by Bloomberg.
\n\n\n\nRetail sales – a key gauge of consumption – also slowed to two percent in June, the NBS said, down from 3.7 percent in May.
\n\n\n\nTop officials are meeting in Beijing on Monday for a key plenum, with all eyes on measures to boost the country\u2019s economic development. The third plenary session of the 20th Communist Party of China (CPC) Central Committee, also known as the third plenum, will identify priorities for comprehensively deepening reform, map out a blueprint for its long-term economic development, Xinhua News Agency reported.
\n", "content_text": "China’s economy grew 4.7 percent year-on-year in the second quarter of 2024, official data showed Monday.\n\n\n\n“By quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,” Beijing’s National Bureau of Statistics (NBS) said in a statement.\n\n\n\nThe figures were lower than the 5.1 percent predicted by analysts polled by Bloomberg.\n\n\n\nRetail sales – a key gauge of consumption – also slowed to two percent in June, the NBS said, down from 3.7 percent in May.\n\n\n\nTop officials are meeting in Beijing on Monday for a key plenum, with all eyes on measures to boost the country\u2019s economic development. The third plenary session of the 20th Communist Party of China (CPC) Central Committee, also known as the third plenum, will identify priorities for comprehensively deepening reform, map out a blueprint for its long-term economic development, Xinhua News Agency reported.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 10:55", "author": { "name": "Newsdesk", "url": "https://www.macaubusiness.com/author/newsdesk/", "avatar": "https://secure.gravatar.com/avatar/75fb5300755cbaf69669b79f302247f2?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/05/China-trade.jpg", "tags": [ "China", "Macau", "MNA", "MNA Featured" ], "summary": "\"By quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,\" Beijing's National Bureau of Statistics (NBS) said in a statement." }, { "id": "https://www.macaubusiness.com/mbtv-experiencing-driverless-taxi-service-in-shanghai-china/", "url": "https://www.macaubusiness.com/mbtv-experiencing-driverless-taxi-service-in-shanghai-china/", "title": "MBtv: Experiencing driverless taxi service in Shanghai, China", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/maxresdefault-33-150x150.jpg\")
\nA Xinhua reporter has recently experienced the driverless taxi service in Shanghai, following the city’s issuance of its initial batch of demonstration application licenses for autonomous intelligent connected vehicles
\n", "content_text": "A Xinhua reporter has recently experienced the driverless taxi service in Shanghai, following the city’s issuance of its initial batch of demonstration application licenses for autonomous intelligent connected vehicles", "date_published": "July 15, 2024", "date_modified": "July 18, 2024 - 02:18", "author": { "name": "MBeditor", "url": "https://www.macaubusiness.com/author/mbeditor/", "avatar": "https://secure.gravatar.com/avatar/3c44cd47c38b159ae5d5c00312d0cc21?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/maxresdefault-33.jpg", "tags": [ "China", "Macau", "MB.tv", "MB.tv Featured", "Reports" ], "summary": "A Xinhua reporter has recently experienced the driverless taxi service in Shanghai, following the city's issuance of its initial batch of demonstration application licenses for autonomous intelligent connected vehicles" }, { "id": "https://www.macaubusiness.com/opinion-know-thy-customer/", "url": "https://www.macaubusiness.com/opinion-know-thy-customer/", "title": "OPINION \u2013 Know thy customer", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/02/IMG_5579-150x150.jpeg\")
\n![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/09/JoseIDuarte_L3553641_cmyk.jpg\")
Jos\u00e9 I. Duarte
\n\n\n\nEconomist, Macau Business Senior Analyst
\n\n\n\nThe debate about the impact of mass tourism is going on in several places around the world. In some, it is very visible and, one might say, vociferous. It is (or will be) possibly everlasting. Tourism impacts local populations\u2019 livelihoods and environment in multiple ways, some more amenable than others. Specific local issues will play out differently in different places, and diverse solutions will be tried – but the core issue is essentially the same. Too many people, either physically or psychologically, probably both, affect conspicuously how the locals go about their daily lives.
\n\n\n\nSetting such discussions around concepts such as carrying capacities and quotas is almost intuitive and provides a first easily understandable frame of reference. But, as argued here before, the simplicity of the approach may turn out to be too crude to lead to effective policies. It may be a starting point, but hardly an anchor for effective policies.
\n\n\n\nSo, it all starts with increasing numbers of visitors. However, all the visitors are not the same, either in their contribution to the residents\u2019 income or occupation of the physical space. (A short note is justified at this point before we proceed. Published statistics focus on the number of visitors, their length of stay, and their spending profiles. Other relevant matters, relating to their space and time distribution and concentration while in town require systematic information collection that is not readily available, if at all.)
\n\n\n\nThe main distinction, between tourists (those staying overnight, as they are technically defined) and same-day visitors (self-explanatory) provides a good starting point for the discussion. They are associated with different spending profiles – and those differences matter. They impact local activities in diverse (positive and negative) ways.
\n\n\n\nAvailable data tell us that the average overnighter spends, gambling aside, four to five times more than same-day visitors. Indeed, part of that difference is directly linked to the fact that overnighters usually pay for lodging, a significant item in their expenditure basket. But even if we set aside that item (important as it is for the local economy\u2019s direct and indirect income and employment), overnighters still typically spend at least twice as much as their single-day counterparts.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/04/Capture-1.jpg\")
Indeed, the bulk of visitors come from mainland China and the overall figures in all types of expenditure are heavily influenced by their spending patterns. But, again, averages hide significant behavioural differences. Unsurprisingly, most visitors come from Guangdong and Fujian provinces, for reasons of geographical proximity and social affinity. The average consumption for all Chinese visitors is, therefore, quite close to the corresponding figures for those two regions. Yet, significant differences are visible, even at this high level of data aggregation.
\n\n\n\nFor instance, visitors on individual visas consistently spend above the global average (by very variable margins, we may note, the reasons for which would be interesting to investigate). That difference seems related to the behaviour of visitors from regions other than the two closest ones seen above. Distance and visit frequency may play a role in them, but we can only guess, at this point – the data is too aggregated for further judgment).
\n\n\n\nIndeed, all this conversation needs to go beyond the cold analysis of figures and the things they can (fruitfully) tell us. Yet, a careful examination of patterns, trends, and their evolution, is a needed starting point. It will help us to understand the flow of visitors, their distribution, and their spending profiles – and identify their drivers. It should inform any policies concerning the management of the city as a tourist destination, as well as its promotion.
\n", "content_text": "Jos\u00e9 I. Duarte\n\n\n\nEconomist, Macau Business Senior Analyst\n\n\n\n\n\n\n\nThe debate about the impact of mass tourism is going on in several places around the world. In some, it is very visible and, one might say, vociferous. It is (or will be) possibly everlasting. Tourism impacts local populations\u2019 livelihoods and environment in multiple ways, some more amenable than others. Specific local issues will play out differently in different places, and diverse solutions will be tried – but the core issue is essentially the same. Too many people, either physically or psychologically, probably both, affect conspicuously how the locals go about their daily lives. \n\n\n\nSetting such discussions around concepts such as carrying capacities and quotas is almost intuitive and provides a first easily understandable frame of reference. But, as argued here before, the simplicity of the approach may turn out to be too crude to lead to effective policies. It may be a starting point, but hardly an anchor for effective policies. \n\n\n\nSo, it all starts with increasing numbers of visitors. However, all the visitors are not the same, either in their contribution to the residents\u2019 income or occupation of the physical space. (A short note is justified at this point before we proceed. Published statistics focus on the number of visitors, their length of stay, and their spending profiles. Other relevant matters, relating to their space and time distribution and concentration while in town require systematic information collection that is not readily available, if at all.) \n\n\n\nThe main distinction, between tourists (those staying overnight, as they are technically defined) and same-day visitors (self-explanatory) provides a good starting point for the discussion. They are associated with different spending profiles – and those differences matter. They impact local activities in diverse (positive and negative) ways. \n\n\n\nAvailable data tell us that the average overnighter spends, gambling aside, four to five times more than same-day visitors. Indeed, part of that difference is directly linked to the fact that overnighters usually pay for lodging, a significant item in their expenditure basket. But even if we set aside that item (important as it is for the local economy\u2019s direct and indirect income and employment), overnighters still typically spend at least twice as much as their single-day counterparts.\n\n\n\n\n\n\n\nIndeed, the bulk of visitors come from mainland China and the overall figures in all types of expenditure are heavily influenced by their spending patterns. But, again, averages hide significant behavioural differences. Unsurprisingly, most visitors come from Guangdong and Fujian provinces, for reasons of geographical proximity and social affinity. The average consumption for all Chinese visitors is, therefore, quite close to the corresponding figures for those two regions. Yet, significant differences are visible, even at this high level of data aggregation.\n\n\n\nFor instance, visitors on individual visas consistently spend above the global average (by very variable margins, we may note, the reasons for which would be interesting to investigate). That difference seems related to the behaviour of visitors from regions other than the two closest ones seen above. Distance and visit frequency may play a role in them, but we can only guess, at this point – the data is too aggregated for further judgment). \n\n\n\nIndeed, all this conversation needs to go beyond the cold analysis of figures and the things they can (fruitfully) tell us. Yet, a careful examination of patterns, trends, and their evolution, is a needed starting point. It will help us to understand the flow of visitors, their distribution, and their spending profiles – and identify their drivers. It should inform any policies concerning the management of the city as a tourist destination, as well as its promotion.", "date_published": "July 14, 2024", "date_modified": "July 13, 2024 - 13:11", "author": { "name": "Jos\u00e9 I. Duarte", "url": "https://www.macaubusiness.com/author/jose-duarte/", "avatar": "https://secure.gravatar.com/avatar/e38388db4f8ef2a44f40cee48efffb47?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/02/IMG_5579.jpeg", "tags": [ "Macau", "Macau Business", "MAG", "MB", "MB Featured", "Opinion" ], "summary": "The debate about the impact of mass tourism is going on in several places around the world. In some, it is very visible and, one might say, vociferous. It is (or will be) possibly everlasting." }, { "id": "https://www.macaubusiness.com/former-suncity-group-defends-contributions-to-macau-sar-in-social-media-statement/", "url": "https://www.macaubusiness.com/former-suncity-group-defends-contributions-to-macau-sar-in-social-media-statement/", "title": "Former Suncity Group defends contributions to Macau SAR in social media statement", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/09/suncity-150x150.jpg\")
\nSuncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives.
\n\n\n\nAlvin Chau, the former CEO of Suncity Group, was sentenced to 18 years in prison following a trial in 2022-2023 centered around under-the-table betting and illicit online gaming operations.
\n\n\n\nThe company itself terminated its operations in the Macau SAR after the arrests of its management, with its assets auctioned by authorities to pay for compensation demands.
\n\n\n\nHowever, the group’s remaining Facebook page has suddenly issued a heartfelt post – the first since November 2021 – in which the Suncity Group addressed former colleagues and friends, reflecting on its connection to Macau and contributions to the city.
\n\n\n\n“It’s been over two years already! This period, neither too long nor too short, has been enough for me to thoroughly reflect on the past 16 years or so,” the post stated.
\n\n\n\nThe post highlighted the company’s deep roots in Macau, emphasizing its founder’s dedication to the city’s growth and development since establishing Suncity Group in 2007. “Macau is my home and my roots!” the post declared, underscoring the founder’s lifelong commitment to enhancing the city’s global standing.
\n\n\n\nSuncity Group detailed its “extensive efforts” to promote Macau as a leading entertainment and cultural hub, stating that over the years, the company has organized and sponsored over 50 major concerts and performances, and heavily invested in promoting Macau as a premier tourism destination.
\n\n\n\nKey sponsored events include the Macau Grand Prix, the Macau International Film Festival, the Wushu Masters Challenge, and the Miss Macau pageant.
\n\n\n\n“Additionally, Suncity Group has been a strong supporter of social welfare and sports development in Macau. The company has made significant charitable donations, established the Suncity volunteer team, and founded several sports teams, including football, basketball, and dragon boat teams. The Youth Inspiration Association, another initiative by the company, aims to nurture the city’s young talent,” the post read.
\n\n\n\n“The only reason I have contributed so much to Macau is because I truly love this place!” it read.
\n\n\n\nThe post resembles an \u201copen letter\u201d issued by Chau to President Xi Jinping, pleading for a reduction in the 18-year prison sentence imposed by the Court of First Instance in January.
\n\n\n\nIn a recent development, Macau\u2019s Court of Final Appeal rejected Chau’s appeal, upholding his 18-year sentence.
\n\n\n\nEight other co-appellants also had their appeals denied. The court maintained the original sentences of between 9 and 18 years for Si Tou Chi Hou, Cheung Yat Ping Ellute, Ali Celestino, Cheong Chi Kin, Chau Chun Hee, Lou Seak Fong, Wong Pak Ling Philip, and Leong Su Weng.
\n\n\n\nThe prosecution’s appeal for harsher sentences was also rejected. The defendants are now required to pay a total of HKD24.865 billion (MOP25.61 billion/US$3.18 billion) to the Macau SAR, as stipulated under the new ruling.
\n\n\n\nIn January 2023 the Hong Kong-listed Suncity group entity was rebranded as LET Group, with Andrew Lo Kai Bang, a former executive in Suncity appointed as its chairman.
\n\n\n\nLET holds a nearly 70 percent stake in Summit Ascent, responsible for managing hotel and gaming businesses within the Integrated Entertainment Zone located in the Primorye Region of the Russian Federation.
\n", "content_text": "Suncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives.\n\n\n\nAlvin Chau, the former CEO of Suncity Group, was sentenced to 18 years in prison following a trial in 2022-2023 centered around under-the-table betting and illicit online gaming operations.\n\n\n\nThe company itself terminated its operations in the Macau SAR after the arrests of its management, with its assets auctioned by authorities to pay for compensation demands.\n\n\n\nHowever, the group’s remaining Facebook page has suddenly issued a heartfelt post – the first since November 2021 – in which the Suncity Group addressed former colleagues and friends, reflecting on its connection to Macau and contributions to the city. \n\n\n\n“It’s been over two years already! This period, neither too long nor too short, has been enough for me to thoroughly reflect on the past 16 years or so,” the post stated.\n\n\n\nThe post highlighted the company’s deep roots in Macau, emphasizing its founder’s dedication to the city’s growth and development since establishing Suncity Group in 2007. “Macau is my home and my roots!” the post declared, underscoring the founder’s lifelong commitment to enhancing the city’s global standing.\n\n\n\nSuncity Group detailed its “extensive efforts” to promote Macau as a leading entertainment and cultural hub, stating that over the years, the company has organized and sponsored over 50 major concerts and performances, and heavily invested in promoting Macau as a premier tourism destination. \n\n\n\nKey sponsored events include the Macau Grand Prix, the Macau International Film Festival, the Wushu Masters Challenge, and the Miss Macau pageant.\n\n\n\n“Additionally, Suncity Group has been a strong supporter of social welfare and sports development in Macau. The company has made significant charitable donations, established the Suncity volunteer team, and founded several sports teams, including football, basketball, and dragon boat teams. The Youth Inspiration Association, another initiative by the company, aims to nurture the city’s young talent,” the post read.\n\n\n\n“The only reason I have contributed so much to Macau is because I truly love this place!” it read.\n\n\n\nThe post resembles an \u201copen letter\u201d issued by Chau to President Xi Jinping, pleading for a reduction in the 18-year prison sentence imposed by the Court of First Instance in January.\n\n\n\nIn a recent development, Macau\u2019s Court of Final Appeal rejected Chau’s appeal, upholding his 18-year sentence. \n\n\n\nEight other co-appellants also had their appeals denied. The court maintained the original sentences of between 9 and 18 years for Si Tou Chi Hou, Cheung Yat Ping Ellute, Ali Celestino, Cheong Chi Kin, Chau Chun Hee, Lou Seak Fong, Wong Pak Ling Philip, and Leong Su Weng.\n\n\n\nThe prosecution’s appeal for harsher sentences was also rejected. The defendants are now required to pay a total of HKD24.865 billion (MOP25.61 billion/US$3.18 billion) to the Macau SAR, as stipulated under the new ruling.\n\n\n\nIn January 2023 the Hong Kong-listed Suncity group entity was rebranded as LET Group, with Andrew Lo Kai Bang, a former executive in Suncity appointed as its chairman.\n\n\n\nLET holds a nearly 70 percent stake in Summit Ascent, responsible for managing hotel and gaming businesses within the Integrated Entertainment Zone located in the Primorye Region of the Russian Federation.", "date_published": "July 14, 2024", "date_modified": "July 15, 2024 - 16:43", "author": { "name": "Nelson Moura", "url": "https://www.macaubusiness.com/author/nelson-moura/", "avatar": "https://secure.gravatar.com/avatar/8580623bdcd7b18171598f6c6c4d3f59?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/09/suncity.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Suncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives." }, { "id": "https://www.macaubusiness.com/slotting-into-place/", "url": "https://www.macaubusiness.com/slotting-into-place/", "title": "Slotting into place", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0028-150x150.jpg\")
\nWith revenues doubling in Asia over the past 12 months in the post-COVID era, leading machine maker and gaming supplier Aristocrat Gaming is bullish about regional prospects and is actively pursuing double-digit growth while doubling down on Macau through investments in products, infrastructure, and personnel, says Asia GM Lloyd Robson.
\n\n\n\nBy Tony Lai
\n\n\n\n
\u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth.\u201d
The past 12 months have proven to be a period of triumph for Aristocrat Gaming, a slot machine maker and games provider, as its strategic investments in the Asian market in recent years began bearing fruit in the post-Covid landscape.
\n\n\n\n\u201cFor us, the business has been accelerating quicker and quicker,\u201d Lloyd Robson, general manager for Asia at Aristocrat Gaming, expressed his enthusiasm for the company’s performance in the post-Covid era. \u201cOur revenues have doubled in the last 12 months [in Asia], and there’ve been multiple contributing factors across the region \u2014 Macau has been a part of that, as have the Philippines, Singapore, and the rest of Southeast Asia.\u201d
\n\n\n\nIn Macau, the gross gaming revenue (GGR) surged by 41.9 percent year-on-year, reaching MOP113.7 billion (US$12 billion) in the first six months of 2024. Across other markets in Asia, the Philippine gaming sector, including operations beyond land-based casinos, achieved a record high of PHP81.70 billion (US$1.42 billion) in GGR during the first quarter of 2024, marking an 18.5 percent increase from the same period the previous year.
\n\n\n\nAristocrat\u2019s success does not only rely on the recovery of Asian gaming jurisdictions but also on its steadfast investments in the region. \u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth,\u201d Mr. Robson said in an interview.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0019.jpg\")
Games for Asia
\n\n\n\n\u201cOne of the decisions we made in the middle of the pandemic \u2014 when decisions were difficult to make \u2014 was to continue to build and invest in our content portfolio,\u201d he said. \u201cWe’re building more games now for Asia than we ever have.\u201d
\n\n\n\nThe slot supplier now has 13 global studios for product development, with nine of them building games for the Asian market. \u201cWe make a really concerted effort to ensure the games we’ve brought to Asia are not just tweaks of global games. They’re games that the designers spent time in the market, listening to [casino] operators and players,\u201d he exemplified.
\n\n\n\n\u201cThe fruits of that labour really started to be seen from about the middle of last year,\u201d he continued. \u201cOur product performance has just gotten better and better over the last 18 months, combined with markets opening up and more players joining casino floors.\u201d
\n\n\n\nOne example of Aristocrat’s success is its popular title \u201cDragon Link,\u201d which is performing \u201cexceptionally well on mass and high-limit floors\u201d in Asian casinos, according to the general manager. At the recent Global Gaming Expo (G2E) Asia 2024, a major regional trade show for the casino industry held in Macau in early June, the supplier showcased an extensive game portfolio that went beyond \u201cDragon Link.\u201d Some of the featured titles included \u201cGrand Legends: Great King,\u201d \u201cGrand Legends: Royal Emperor,\u201d \u201cCaifu Zhong Sheng: Dragon,\u201d \u201cBao Zhu Zhao Fu,\u201d and others.
\n\n\n\nAristocrat Gaming’s parent company, Australia-listed Aristocrat Leisure Ltd, recently reported a year-on-year revenue increase of 6.1 percent to about AUD3.27 billion (US$2.19 billion) in its financial first half. In the October-March 2024 period, its interim profit after tax and before amortisation of acquired intangibles (NPATA) rose 8.6 percent year-on-year to AUD752.1 million.
\n\n\n\n
\u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor.\u201d
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0139.jpg\")
New standards
\n\n\n\nThe robust performance of the slot supplier in the Macau market can also be attributed to the ongoing replacement of electronic gaming machines (EGMs). Macau operators are upgrading their EGMs to comply with the new EGM Technical Standards mandated by the local gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ). By 31 December 2026, all EGMs in Macau must fully comply with the new standards.
\n\n\n\nGiven the cap of 12,000 gaming machines permitted on Macau casino floors, Mr. Robson estimated that about 35 percent of the machines in the market have been compliant with the new standards, indicating that operators are on track to meet the 2026 deadline.
\n\n\n\n
\u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d
Infrastructure and talent
\n\n\n\nAside from continuous investments in products, Aristocrat Gaming also emphasises investments in infrastructure and personnel. After opening its first dedicated gaming showroom in the Philippines last year, the supplier spent six months renovating its office and showroom in downtown Macau. The newly revamped facilities in Macau were unveiled in early June, ahead of the G2E Asia 2024.
\n\n\n\n\u201cWe’ve been in this facility for 20 years… but this was the most significant investment that we put into rebuilding the infrastructure to create an environment that is very different for Macau,\u201d Mr. Robson stated. \u201cIt’s designed to drive collaboration and engagement, not just for our employees but also for our customers and regulators.\u201d
\n\n\n\nAristocrat’s operation in Macau has also seen an expansion in its corporate structure, with the addition of roles in analytics, marketing, and sales. This has increased the headcount of the Macau team to over 20. \u201cHistorically, the supplier-casino relationship has been focused on providing games, selling products, and moving on,\u201d he explained, highlighting the importance of the new roles.
\n\n\n\n\u201cBut we’re really trying to deepen those partnerships and add value in areas that are not as invested in across the industry,\u201d the general manager stated. For instance, the supplier\u2019s analytics roles could analyse the data of its titles \u201cto ultimately help [casino] operators drive incremental GGR,\u201d he added.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0079.jpg\")
Significance of marketing
\n\n\n\nMarketing also plays a crucial role in attracting players, particularly young players, to slot machines. \u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor,\u201d Mr. Robson remarked. \u201cThe core slot demographic across the region has typically been of an older vintage.\u201d
\n\n\n\n\u201cSo one of the things that we’ve been doing is partnering with operators, especially in a marketing capacity,\u201d he continued. \u201cHow do we package up? How do we retail up? How do we theme our games to create an experience that they [players] haven’t had before? It’s more than just putting a game on the floor and hoping the game will work.\u201d
\n\n\n\nAristocrat also focuses on cultivating local talent, as 95 percent of its Macau team consist of locals. \u201cWe’re really committed to our local team and growing local talent over the last three or four years,\u201d he added. \u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d
\n\n\n\n
\u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming.\u201d
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0006.jpg\")
Double-digit growth
\n\n\n\nWith expectations of continuous recovery and steady growth across the Asian continent, Aristocrat Gaming is confident in the prospects of the regional market. \u201cThere’s a lot of growth in front of us and right across the region,\u201d the general manager stated. \u201c[We have] a double-digit growth expectation coming out of Asia.\u201d
\n\n\n\n\u201cIf you look into the next five years, you see a growing Macau market and an expanding Philippine market, led by the president of the Philippines and the chairman of PAGCOR, who are very pro-business,\u201d he explained, referring to the gaming regulator of the Southeast Asian country, the Philippine Amusement and Gaming Corporation (PAGCOR). \u201cThere are also expanding markets in Singapore, Vietnam [and] Cambodia, not to mention markets like Thailand and Japan on the horizon.\u201d
\n\n\n\nA consortium led by MGM Resorts International and Japanese firm Orix Corp is currently constructing Japan’s first integrated resort with a casino in the prefecture of Osaka, scheduled to open in 2030. Meanwhile, Thailand is in the midst of discussions about legalising casino resorts in the country, with lawmakers endorsing a feasibility study earlier this year.
\n\n\n\n\u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming,\u201d Mr. Robson expressed. \u201cAs one of the leaders in the electronic space, we are pretty excited about what we see for the future.\u201d
\n\n\n\nContinuous investments
\n\n\n\nTo seize the opportunities across the region, the supplier is committed to continuous investments. \u201cWe will continue to invest in our people, our products, and our infrastructure,\u201d he emphasised. \u201cWe’re really focused on providing a diversified portfolio that hits different player segments in order to drive incremental GGR [for casino operators].\u201d
\n\n\n\n\u201cWe have been able to demonstrate over the last 12 months what investments in Asia can deliver, and we have the backing to go after Asia for the next five years and beyond,\u201d he concluded.
\n\n\n\n\n", "content_text": "With revenues doubling in Asia over the past 12 months in the post-COVID era, leading machine maker and gaming supplier Aristocrat Gaming is bullish about regional prospects and is actively pursuing double-digit growth while doubling down on Macau through investments in products, infrastructure, and personnel, says Asia GM Lloyd Robson.\n\n\n\nBy Tony Lai\n\n\n\n\n\n\n\n \u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth.\u201d \n\n\n\nThe past 12 months have proven to be a period of triumph for Aristocrat Gaming, a slot machine maker and games provider, as its strategic investments in the Asian market in recent years began bearing fruit in the post-Covid landscape.\n\n\n\n\u201cFor us, the business has been accelerating quicker and quicker,\u201d Lloyd Robson, general manager for Asia at Aristocrat Gaming, expressed his enthusiasm for the company’s performance in the post-Covid era. \u201cOur revenues have doubled in the last 12 months [in Asia], and there’ve been multiple contributing factors across the region \u2014 Macau has been a part of that, as have the Philippines, Singapore, and the rest of Southeast Asia.\u201d\n\n\n\nIn Macau, the gross gaming revenue (GGR) surged by 41.9 percent year-on-year, reaching MOP113.7 billion (US$12 billion) in the first six months of 2024. Across other markets in Asia, the Philippine gaming sector, including operations beyond land-based casinos, achieved a record high of PHP81.70 billion (US$1.42 billion) in GGR during the first quarter of 2024, marking an 18.5 percent increase from the same period the previous year.\n\n\n\nAristocrat\u2019s success does not only rely on the recovery of Asian gaming jurisdictions but also on its steadfast investments in the region. \u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth,\u201d Mr. Robson said in an interview.\n\n\n\n\n\n\n\nGames for Asia\n\n\n\n\u201cOne of the decisions we made in the middle of the pandemic \u2014 when decisions were difficult to make \u2014 was to continue to build and invest in our content portfolio,\u201d he said. \u201cWe’re building more games now for Asia than we ever have.\u201d\n\n\n\nThe slot supplier now has 13 global studios for product development, with nine of them building games for the Asian market. \u201cWe make a really concerted effort to ensure the games we’ve brought to Asia are not just tweaks of global games. They’re games that the designers spent time in the market, listening to [casino] operators and players,\u201d he exemplified. \n\n\n\n\u201cThe fruits of that labour really started to be seen from about the middle of last year,\u201d he continued. \u201cOur product performance has just gotten better and better over the last 18 months, combined with markets opening up and more players joining casino floors.\u201d\n\n\n\nOne example of Aristocrat’s success is its popular title \u201cDragon Link,\u201d which is performing \u201cexceptionally well on mass and high-limit floors\u201d in Asian casinos, according to the general manager. At the recent Global Gaming Expo (G2E) Asia 2024, a major regional trade show for the casino industry held in Macau in early June, the supplier showcased an extensive game portfolio that went beyond \u201cDragon Link.\u201d Some of the featured titles included \u201cGrand Legends: Great King,\u201d \u201cGrand Legends: Royal Emperor,\u201d \u201cCaifu Zhong Sheng: Dragon,\u201d \u201cBao Zhu Zhao Fu,\u201d and others.\n\n\n\nAristocrat Gaming’s parent company, Australia-listed Aristocrat Leisure Ltd, recently reported a year-on-year revenue increase of 6.1 percent to about AUD3.27 billion (US$2.19 billion) in its financial first half. In the October-March 2024 period, its interim profit after tax and before amortisation of acquired intangibles (NPATA) rose 8.6 percent year-on-year to AUD752.1 million.\n\n\n\n \u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor.\u201d \n\n\n\n\n\n\n\nNew standards\n\n\n\nThe robust performance of the slot supplier in the Macau market can also be attributed to the ongoing replacement of electronic gaming machines (EGMs). Macau operators are upgrading their EGMs to comply with the new EGM Technical Standards mandated by the local gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ). By 31 December 2026, all EGMs in Macau must fully comply with the new standards. \n\n\n\nGiven the cap of 12,000 gaming machines permitted on Macau casino floors, Mr. Robson estimated that about 35 percent of the machines in the market have been compliant with the new standards, indicating that operators are on track to meet the 2026 deadline.\n\n\n\n \u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d \n\n\n\nInfrastructure and talent\n\n\n\nAside from continuous investments in products, Aristocrat Gaming also emphasises investments in infrastructure and personnel. After opening its first dedicated gaming showroom in the Philippines last year, the supplier spent six months renovating its office and showroom in downtown Macau. The newly revamped facilities in Macau were unveiled in early June, ahead of the G2E Asia 2024.\n\n\n\n\u201cWe’ve been in this facility for 20 years… but this was the most significant investment that we put into rebuilding the infrastructure to create an environment that is very different for Macau,\u201d Mr. Robson stated. \u201cIt’s designed to drive collaboration and engagement, not just for our employees but also for our customers and regulators.\u201d\n\n\n\nAristocrat’s operation in Macau has also seen an expansion in its corporate structure, with the addition of roles in analytics, marketing, and sales. This has increased the headcount of the Macau team to over 20. \u201cHistorically, the supplier-casino relationship has been focused on providing games, selling products, and moving on,\u201d he explained, highlighting the importance of the new roles. \n\n\n\n\u201cBut we’re really trying to deepen those partnerships and add value in areas that are not as invested in across the industry,\u201d the general manager stated. For instance, the supplier\u2019s analytics roles could analyse the data of its titles \u201cto ultimately help [casino] operators drive incremental GGR,\u201d he added. \n\n\n\n\n\n\n\nSignificance of marketing\n\n\n\nMarketing also plays a crucial role in attracting players, particularly young players, to slot machines. \u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor,\u201d Mr. Robson remarked. \u201cThe core slot demographic across the region has typically been of an older vintage.\u201d\n\n\n\n\u201cSo one of the things that we’ve been doing is partnering with operators, especially in a marketing capacity,\u201d he continued. \u201cHow do we package up? How do we retail up? How do we theme our games to create an experience that they [players] haven’t had before? It’s more than just putting a game on the floor and hoping the game will work.\u201d\n\n\n\nAristocrat also focuses on cultivating local talent, as 95 percent of its Macau team consist of locals. \u201cWe’re really committed to our local team and growing local talent over the last three or four years,\u201d he added. \u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d\n\n\n\n \u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming.\u201d \n\n\n\n\n\n\n\nDouble-digit growth\n\n\n\nWith expectations of continuous recovery and steady growth across the Asian continent, Aristocrat Gaming is confident in the prospects of the regional market. \u201cThere’s a lot of growth in front of us and right across the region,\u201d the general manager stated. \u201c[We have] a double-digit growth expectation coming out of Asia.\u201d\n\n\n\n\u201cIf you look into the next five years, you see a growing Macau market and an expanding Philippine market, led by the president of the Philippines and the chairman of PAGCOR, who are very pro-business,\u201d he explained, referring to the gaming regulator of the Southeast Asian country, the Philippine Amusement and Gaming Corporation (PAGCOR). \u201cThere are also expanding markets in Singapore, Vietnam [and] Cambodia, not to mention markets like Thailand and Japan on the horizon.\u201d\n\n\n\nA consortium led by MGM Resorts International and Japanese firm Orix Corp is currently constructing Japan’s first integrated resort with a casino in the prefecture of Osaka, scheduled to open in 2030. Meanwhile, Thailand is in the midst of discussions about legalising casino resorts in the country, with lawmakers endorsing a feasibility study earlier this year.\n\n\n\n\u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming,\u201d Mr. Robson expressed. \u201cAs one of the leaders in the electronic space, we are pretty excited about what we see for the future.\u201d\n\n\n\nContinuous investments\n\n\n\nTo seize the opportunities across the region, the supplier is committed to continuous investments. \u201cWe will continue to invest in our people, our products, and our infrastructure,\u201d he emphasised. \u201cWe’re really focused on providing a diversified portfolio that hits different player segments in order to drive incremental GGR [for casino operators].\u201d\n\n\n\n\u201cWe have been able to demonstrate over the last 12 months what investments in Asia can deliver, and we have the backing to go after Asia for the next five years and beyond,\u201d he concluded.", "date_published": "July 14, 2024", "date_modified": "July 13, 2024 - 10:54", "author": { "name": "Tony Lai", "url": "https://www.macaubusiness.com/author/tony-lai/", "avatar": "https://secure.gravatar.com/avatar/a5b778e54892854e651e4df2f269cb0d?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0028.jpg", "tags": [ "Gaming", "Macau", "Macau Business", "MAG", "MAG Featured", "MB", "MB Featured" ], "summary": "With revenues doubling in Asia over the past 12 months in the post-COVID era, leading machine maker and gaming supplier Aristocrat Gaming is bullish about regional prospects and is actively pursuing double-digit growth while doubling down on Macau through investments in products, infrastructure, and personnel, says Asia GM Lloyd Robson." }, { "id": "https://www.macaubusiness.com/chinese-kindergartens-pivot-to-senior-care-as-population-ages-2/", "url": "https://www.macaubusiness.com/chinese-kindergartens-pivot-to-senior-care-as-population-ages-2/", "title": "Chinese kindergartens pivot to senior care as population ages", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/china-ageing-150x150.jpg\")
\nSenior citizens sway to old-time tunes at a former kindergarten in northern China, as educators turn their sights away from children in the face of a rapidly ageing population and a baby bust.
\n\n\n\nHundreds of millions of Chinese are set to enter old age in the coming decades while the country’s chronically low birth rate leaves ever fewer people to replace them, official statistics show.
\n\n\n\nThe crisis is already hitting the education sector, with thousands of preschools closing around the country as enrollments dry up.
\n\n\n\nBut others are changing with the times — such as a facility in Shanxi province, which has traded chortling children for a more mature cohort.
\n\n\n\n“(The problem) became particularly evident as the number of children continued to decrease,” principal Li Xiuling, 56, told AFP.
\n\n\n\n“After my kindergarten emptied out, I thought about how to make the best use of it,” she said.
\n\n\n\nLi’s preschool was founded in 2005 and once served as many as 280 children, but closed last year.
\n\n\n\nIt reopened in December as Impressions of Youth, a recreational centre for people of retirement age and above.
\n\n\n\nThe space in the provincial capital Taiyuan boasts around 100 adult learners of music, dance, modelling and other subjects.
\n\n\n\n“It’s quite a progressive idea,” Li said. “They come to fulfil some of the dreams they had when they were young.
\n\n\n\nOn a rainy morning this month, a modelling instructor led a line of immaculately coiffed older women as they sashayed around the classroom in traditional cheongsam dresses and pink oil-paper parasols.
\n\n\n\nIn another class, students sat in a semicircle beating African drums in time to soaring socialist songs.
\n\n\n\nHe Ying, 63, said joining the centre had helped her overcome a post-retirement lack of confidence and meet new friends.
\n\n\n\n“I used to feel that my cultural life\u2026 was very impoverished, that there wasn’t much meaning in going on living,” she told AFP.
\n\n\n\n“(People here) are not just waiting to grow old.”
\n\n\n\nNearly 15,000 kindergartens closed in China last year as enrollments plunged by 5.3 million compared to 2022, according to government data.
\n\n\n\nIn dusty, industrial Shanxi \u2013- where the overall population is falling \u2013- there were 78,000 more deaths than births last year.
\n\n\n\nThe centre bears traces of its past, with bunkbeds and dinky writing desks lining the colourfully decorated walls of former classrooms.
\n\n\n\nFor Yan Xi, who used to teach at the kindergarten but now leads classes for retirees, the shift has taken some getting used to.
\n\n\n\n“Little kids just believe whatever you say, but the elderly\u2026 have their own ways,” she said.
\n\n\n\n“I have to think harder about how to communicate with them,” Yan told AFP.
\n\n\n\nSeveral other facilities across China have found success by pivoting from preschool to senior education, according to local news reports.
\n\n\n\nStudent Sun Linzhi, 56, said they met “a need for universities for the elderly”.
\n\n\n\nSince joining the centre in Taiyuan, “I feel like I’m young again,” she told AFP.
\n\n\n\nChina saw a significant rise in the senior population last year, adding nearly 17 million people aged 60 and above, according to official statistics.
\n\n\n\nThat age group already makes up more than 20 percent of the population, a proportion that is expected to rise to nearly a third by 2035, according to the Economist Intelligence Unit, a research group.
\n\n\n\nBeijing plans to introduce a “relatively sound” national elderly care system by 2025, but the country lacks nursing homes and faces wide regional disparities in coverage.
\n\n\n\nTop leaders will likely discuss the future of what they call the “silver economy” at a key economic meeting in the capital next week.
\n\n\n\nThe government estimates that products and services catering to the elderly — from senior-friendly tourism to technology-driven medical care — could be worth 30 trillion yuan ($4.13 trillion) by 2035.
\n\n\n\nBut it has struggled to revive the plummeting birth rate, a major driver of China’s mismatched demographics.
\n\n\n\nLi, the principal, said she felt nostalgic for the days when her school teemed with boisterous kids.
\n\n\n\n“I was very emotionally invested in it,” she said, gesturing towards the disused bunks and desks. “We kept those as a kind of memento.”
\n", "content_text": "Senior citizens sway to old-time tunes at a former kindergarten in northern China, as educators turn their sights away from children in the face of a rapidly ageing population and a baby bust.\n\n\n\nHundreds of millions of Chinese are set to enter old age in the coming decades while the country’s chronically low birth rate leaves ever fewer people to replace them, official statistics show.\n\n\n\nThe crisis is already hitting the education sector, with thousands of preschools closing around the country as enrollments dry up.\n\n\n\nBut others are changing with the times — such as a facility in Shanxi province, which has traded chortling children for a more mature cohort.\n\n\n\n“(The problem) became particularly evident as the number of children continued to decrease,” principal Li Xiuling, 56, told AFP.\n\n\n\n“After my kindergarten emptied out, I thought about how to make the best use of it,” she said.\n\n\n\nLi’s preschool was founded in 2005 and once served as many as 280 children, but closed last year.\n\n\n\nIt reopened in December as Impressions of Youth, a recreational centre for people of retirement age and above.\n\n\n\nThe space in the provincial capital Taiyuan boasts around 100 adult learners of music, dance, modelling and other subjects.\n\n\n\n“It’s quite a progressive idea,” Li said. “They come to fulfil some of the dreams they had when they were young.\n\n\n\n“‘I’m young again’ –\n\n\n\nOn a rainy morning this month, a modelling instructor led a line of immaculately coiffed older women as they sashayed around the classroom in traditional cheongsam dresses and pink oil-paper parasols.\n\n\n\nIn another class, students sat in a semicircle beating African drums in time to soaring socialist songs.\n\n\n\nHe Ying, 63, said joining the centre had helped her overcome a post-retirement lack of confidence and meet new friends.\n\n\n\n“I used to feel that my cultural life\u2026 was very impoverished, that there wasn’t much meaning in going on living,” she told AFP.\n\n\n\n“(People here) are not just waiting to grow old.”\n\n\n\nNearly 15,000 kindergartens closed in China last year as enrollments plunged by 5.3 million compared to 2022, according to government data.\n\n\n\nIn dusty, industrial Shanxi \u2013- where the overall population is falling \u2013- there were 78,000 more deaths than births last year.\n\n\n\nThe centre bears traces of its past, with bunkbeds and dinky writing desks lining the colourfully decorated walls of former classrooms.\n\n\n\nFor Yan Xi, who used to teach at the kindergarten but now leads classes for retirees, the shift has taken some getting used to.\n\n\n\n“Little kids just believe whatever you say, but the elderly\u2026 have their own ways,” she said.\n\n\n\n“I have to think harder about how to communicate with them,” Yan told AFP.\n\n\n\nSeveral other facilities across China have found success by pivoting from preschool to senior education, according to local news reports.\n\n\n\nStudent Sun Linzhi, 56, said they met “a need for universities for the elderly”.\n\n\n\nSince joining the centre in Taiyuan, “I feel like I’m young again,” she told AFP.\n\n\n\n‘Silver economy’ \n\n\n\nChina saw a significant rise in the senior population last year, adding nearly 17 million people aged 60 and above, according to official statistics.\n\n\n\nThat age group already makes up more than 20 percent of the population, a proportion that is expected to rise to nearly a third by 2035, according to the Economist Intelligence Unit, a research group.\n\n\n\nBeijing plans to introduce a “relatively sound” national elderly care system by 2025, but the country lacks nursing homes and faces wide regional disparities in coverage.\n\n\n\nTop leaders will likely discuss the future of what they call the “silver economy” at a key economic meeting in the capital next week.\n\n\n\nThe government estimates that products and services catering to the elderly — from senior-friendly tourism to technology-driven medical care — could be worth 30 trillion yuan ($4.13 trillion) by 2035.\n\n\n\nBut it has struggled to revive the plummeting birth rate, a major driver of China’s mismatched demographics.\n\n\n\nLi, the principal, said she felt nostalgic for the days when her school teemed with boisterous kids.\n\n\n\n“I was very emotionally invested in it,” she said, gesturing towards the disused bunks and desks. “We kept those as a kind of memento.”", "date_published": "July 14, 2024", "date_modified": "July 15, 2024 - 01:50", "author": { "name": "AFP", "url": "https://www.macaubusiness.com/author/afp/", "avatar": "https://secure.gravatar.com/avatar/f874b805e642365202fe3b870afdad24?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/china-ageing.jpg", "tags": [ "China", "Macau", "MNA" ], "summary": "Senior citizens sway to old-time tunes at a former kindergarten in northern China, as educators turn their sights away from children in the face of a rapidly ageing population and a baby bust." } ] }