![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8942-1028x568.jpeg\")
China’s artificial intelligence (AI) and intelligent speech giant iFLYTEK and its subsidiary iFLYHEALTH will set up their international headquarters in Hong Kong’s flagship incubator Cyberport, and help with the formation of a local AI ecosystem.
\n\n\n\n“iFLYTEK and iFLYHEALTH plan to invest 400 million Hong Kong dollars (51.22 million U.S. dollars) in Hong Kong over the next five years to establish an international headquarters, an international business headquarters, an international R&D center, an international trade and capital management platform, as well as a 150-member team to drive R&D and overseas market expansion, with a view to establishing an AI ecosystem with tens of thousands of developers,” Cyberport said in a press release on Friday.
\n\n\n\nMeanwhile, iFLYHEALTH will set up an international research institute at Cyberport focusing on cutting-edge technology research that integrates medical health and AI, the release said.
\n\n\n\nAddressing the signing ceremony, Sun Dong, secretary for innovation, technology and industry of the HKSAR government, said that the HKSAR government has always been a strong supporter of Hong Kong’s innovation and technology development, in which AI and life and health technology are the government’s focus on the development of technology industries with advantages.
\n\n\n\nHe added that Hong Kong has already gathered numerous leading enterprises at home and abroad, including iFLYTEK, SenseTime, Cisco, as well as hundreds of excellent AI enterprises, and an AI ecosystem is taking shape in Hong Kong.
\n\n\n\nSimon Chan Sai-ming, chairman of Hong Kong Cyberport Management Company Limited, called the participation of iFLYTEK another milestone in Hong Kong’s AI ecosystem, believing that this will further boost the innovation and R&D of Hong Kong’s AI industry as well as the commercialization of relevant products and technologies, so as to attract AI investments from both home and abroad.
\n", "content_text": "China’s artificial intelligence (AI) and intelligent speech giant iFLYTEK and its subsidiary iFLYHEALTH will set up their international headquarters in Hong Kong’s flagship incubator Cyberport, and help with the formation of a local AI ecosystem.\n\n\n\n“iFLYTEK and iFLYHEALTH plan to invest 400 million Hong Kong dollars (51.22 million U.S. dollars) in Hong Kong over the next five years to establish an international headquarters, an international business headquarters, an international R&D center, an international trade and capital management platform, as well as a 150-member team to drive R&D and overseas market expansion, with a view to establishing an AI ecosystem with tens of thousands of developers,” Cyberport said in a press release on Friday.\n\n\n\nMeanwhile, iFLYHEALTH will set up an international research institute at Cyberport focusing on cutting-edge technology research that integrates medical health and AI, the release said.\n\n\n\nAddressing the signing ceremony, Sun Dong, secretary for innovation, technology and industry of the HKSAR government, said that the HKSAR government has always been a strong supporter of Hong Kong’s innovation and technology development, in which AI and life and health technology are the government’s focus on the development of technology industries with advantages.\n\n\n\nHe added that Hong Kong has already gathered numerous leading enterprises at home and abroad, including iFLYTEK, SenseTime, Cisco, as well as hundreds of excellent AI enterprises, and an AI ecosystem is taking shape in Hong Kong.\n\n\n\nSimon Chan Sai-ming, chairman of Hong Kong Cyberport Management Company Limited, called the participation of iFLYTEK another milestone in Hong Kong’s AI ecosystem, believing that this will further boost the innovation and R&D of Hong Kong’s AI industry as well as the commercialization of relevant products and technologies, so as to attract AI investments from both home and abroad.", "date_published": "July 20, 2024", "date_modified": "July 20, 2024 - 10:42", "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" }, "tags": [ "China", "Greater Bay", "MNA" ], "summary": "China's artificial intelligence (AI) and intelligent speech giant iFLYTEK and its subsidiary iFLYHEALTH will set up their international headquarters in Hong Kong's flagship incubator Cyberport, and help with the formation of a local AI ecosystem." }, { "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/2024/07/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/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.
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/image-15-150x150.jpg\")
\nThe 34th Hong Kong Book Fair opened on Wednesday, kicking off a week-long cultural bonanza featuring over 600 activities.
\n\n\n\nReaders thronged the Hong Kong Convention and Exhibition Center on Wednesday to pick from rigorously curated selections of books from exhibitors.
\n\n\n\nFairgoers can also meet writers from around the world during this year’s event. Established writers including Su Tong and Jin Yucheng will give lectures.
\n\n\n\nTo echo this year’s theme of Film and Television Literature, clips and film stills of movies are displayed alongside the original novels they were adapted from. Many fairgoers tried out an interactive map that showed film locations and relevant tidbits.
\n\n\n\nThis year’s event continues to dedicate a section to books from the Chinese mainland, where over 60 publishers from the mainland showcased nearly 10,000 different books.
\n\n\n\nThe book fair will last through July 23, concurrent with the Hong Kong Sports and Leisure Expo and the World of Snacks 2024.
\n", "content_text": "The 34th Hong Kong Book Fair opened on Wednesday, kicking off a week-long cultural bonanza featuring over 600 activities.\n\n\n\nReaders thronged the Hong Kong Convention and Exhibition Center on Wednesday to pick from rigorously curated selections of books from exhibitors.\n\n\n\nFairgoers can also meet writers from around the world during this year’s event. Established writers including Su Tong and Jin Yucheng will give lectures.\n\n\n\nTo echo this year’s theme of Film and Television Literature, clips and film stills of movies are displayed alongside the original novels they were adapted from. Many fairgoers tried out an interactive map that showed film locations and relevant tidbits.\n\n\n\nThis year’s event continues to dedicate a section to books from the Chinese mainland, where over 60 publishers from the mainland showcased nearly 10,000 different books.\n\n\n\nThe book fair will last through July 23, concurrent with the Hong Kong Sports and Leisure Expo and the World of Snacks 2024.", "date_published": "July 18, 2024", "date_modified": "July 18, 2024 - 14:30", "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/image-15.jpg", "tags": [ "China", "Greater Bay", "MNA" ], "summary": "The 34th Hong Kong Book Fair opened on Wednesday, kicking off a week-long cultural bonanza featuring over 600 activities." }, { "id": "https://www.macaubusiness.com/financial-sector-thrives-with-14-new-approved-institutions-since-2019/", "url": "https://www.macaubusiness.com/financial-sector-thrives-with-14-new-approved-institutions-since-2019/", "title": "Financial sector thrives with 14 new approved institutions since 2019", "content_html": "![\"\"](\"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/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/ChkhgeE007006_20240717_CBMFN0A001-150x150.jpg\")
\nHong Kong recorded about 21 million visitor arrivals in the first half of 2024, up 64 percent compared to the same period 2023, the Hong Kong Tourism Board said on Tuesday.
\n\n\n\nThe initial data announced by the tourism board showed that the number of visitors to Hong Kong in June reached 3.13 million, up 14 percent year-on-year.
\n\n\n\nIn the first six months of 2024, about 16.1 million visitors arrived from the Chinese mainland, about 60 percent more than in the same period of 2023. Five million were non-mainland visitors, representing an 80 percent year-on-year increase. Overnight visitors accounted for 50 percent of all visitor arrivals during the period, staying for 3.2 nights on average.
\n\n\n\nA survey done by the tourism board showed that visitors were satisfied with their overall experience in Hong Kong. Overnight visitors rated Hong Kong 8.7 out of 10 for satisfaction from January to May, and 94 percent of visitors said they intended to revisit and recommend Hong Kong to others.
\n\n\n\nAccording to the survey, Tsim Sha Tsui, Temple Street and the Peak were some of the popular places visited among overnight visitors from January to May.
\n", "content_text": "Hong Kong recorded about 21 million visitor arrivals in the first half of 2024, up 64 percent compared to the same period 2023, the Hong Kong Tourism Board said on Tuesday.\n\n\n\nThe initial data announced by the tourism board showed that the number of visitors to Hong Kong in June reached 3.13 million, up 14 percent year-on-year.\n\n\n\nIn the first six months of 2024, about 16.1 million visitors arrived from the Chinese mainland, about 60 percent more than in the same period of 2023. Five million were non-mainland visitors, representing an 80 percent year-on-year increase. Overnight visitors accounted for 50 percent of all visitor arrivals during the period, staying for 3.2 nights on average.\n\n\n\nA survey done by the tourism board showed that visitors were satisfied with their overall experience in Hong Kong. Overnight visitors rated Hong Kong 8.7 out of 10 for satisfaction from January to May, and 94 percent of visitors said they intended to revisit and recommend Hong Kong to others.\n\n\n\nAccording to the survey, Tsim Sha Tsui, Temple Street and the Peak were some of the popular places visited among overnight visitors from January to May.", "date_published": "July 17, 2024", "date_modified": "July 17, 2024 - 11:39", "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/ChkhgeE007006_20240717_CBMFN0A001.jpg", "tags": [ "HongKong | tourism", "Greater Bay", "International", "MNA" ], "summary": "Hong Kong recorded about 21 million visitor arrivals in the first half of 2024, up 64 percent compared to the same period 2023" }, { "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/hong-kongs-business-community-bullish-on-greater-bay-area-hainan-ftp-synergy/", "url": "https://www.macaubusiness.com/hong-kongs-business-community-bullish-on-greater-bay-area-hainan-ftp-synergy/", "title": "Hong Kong\u2019s business community bullish on Greater Bay Area, Hainan FTP synergy", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/image-150x150.jpeg\")
\nA delegation of consular corps and business communities in Hong Kong has just concluded a five-day Hainan visit, eyeing further collaboration between the two dynamic export hubs of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Hainan Free Trade Port (FTP).
\n\n\n\nInspired by the remarkable achievements of the Hainan FTP construction, the delegates were bullish on a promising converge of development needs between the two areas, which are close neighbors with complementary strengths.
\n\n\n\n“I’m quite impressed by the confidence with which the people here in Hainan introduce their hometown’s history, culture, distinctive industries and development strategy,” said Alexander Kaymer, co-founder and managing director of KAYRO Solutions of the Austrian Chamber of Commerce in Hong Kong and Macao. In fact, many in the delegation shared this sentiment with Xinhua.
\n\n\n\n“What lures investors to Hainan is that the people here are not just talking about having good and cheap beaches or clean air, that sort of homogeneous concepts, but concretizing the idea of green economy with such indicators as zero carbon and clean production, and really building green industries and eco-tourism into local brands,” said Johannes Hack, president of the German Chamber of Commerce in Hong Kong.
\n\n\n\nThe Hainan Free Trade Port features a clear top-level design and blueprint, and focuses on building regional trademarks, Hack said, noting that Hong Kong, an international metropolis boasting edges in professional services, can help Hainan with attracting and utilizing foreign investment.
\n\n\n\nThe two areas can recalibrate their roles in terms of investment categories, with Hong Kong being an ideal option for investing in the secondary market while the Hainan FTP being a suitable place for high-tech venture capital, he added.
\n\n\n\n“This is my first visit to Hainan, but it certainly won’t be my last. It’s amazing and worth more visits,” Ahmed Elbeshlawy, an analyst of the Consulate-General of the United Arab Emirates (UAE) in Hong Kong, told Xinhua, saying that he was impressed by the “richness” in Hainan, including the abundant resources, the diversified industries, and the untapped potential.
\n\n\n\nWith experience in clean production, seed breeding and medical tourism, Hainan is a promised land for businesses, particularly ESG (environmental, social, and governance) investing, Elbeshlawy said. “It’s reasonable to believe that in the future, the relevant industries will emerge stronger, their scope of business expanding from the Chinese mainland to the wider world.”
\n\n\n\nThe UAE government is currently leading a nationwide green push, he said, adding that Hainan’s optimal location, cost-effectiveness and inspiring experience in ESG will pool more global green and high-tech investments, including both Hong Kong-based multinationals and UAE enterprises.
\n\n\n\nParticularly, via the platform of the GBA, bigger enterprises can capitalize on a slew of measures to boost financial market interconnectivity including the Cross-boundary Wealth Management Connect Scheme and Shenzhen-Hong Kong Stock Connect, Elbeshlawy said, noting that this is where the development needs of the GBA and the FTP can converge.
\n\n\n\nSpeaking about the visit to the Hainan International Commercial Aerospace Launch Center and the Wenchang Aerospace Supercomputing Center, David Whitwam, chairman of the New Zealand Chamber of Commerce in Hong Kong, told Xinhua that he was very excited to see these high-end facilities up close.
\n\n\n\nChina has been deeply engaged in the aerospace field, and its technology ranks among the top globally, Whitwam said. “It’s a fresh experience to get to see so many industries, including space exploration, developing on Hainan Island simultaneously. Investors based in Hong Kong and those from New Zealand should really come and see for themselves.”
\n\n\n\nThe five-day trip spanned across the whole island, covering such cities as Haikou, Wenchang, Qionghai, Danzhou, Changjiang and Sanya, which excel respectively in new energy vehicles manufacturing, biotechnology, aerospace, nuclear energy, medical tourism, seed breeding, deep sea technology, among others.
\n\n\n\n“When I think of a free trade port, I think of sort of heavy industry and shipping and those sorts of things. Whereas this is so much more (here in Hainan),” said Paul McComb, executive director of the British Chamber of Commerce in Hong Kong. “So in my sense it’s a bit of a gem, or FTP plus.”
\n\n\n\nHong Kong, with its favorable business environment and internationally aligned legal and tax systems, remains highly attractive as an offshore venue for Chinese companies seeking to pool foreign talents, and Hainan, with its science parks, new productive forces as well as geographical proximity, can be a perfect place for such collaboration, McComb said.
\n\n\n\nMembers of the delegation also shared their excitement about China’s newly enforced measure to grant five-year multi-entry travel permits to non-Chinese permanent residents in Hong Kong and Macao, bullish on future cooperation prospects between the GBA and the Hainan FTP as well as beyond with more exchanges.
\n", "content_text": "A delegation of consular corps and business communities in Hong Kong has just concluded a five-day Hainan visit, eyeing further collaboration between the two dynamic export hubs of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Hainan Free Trade Port (FTP).\n\n\n\nInspired by the remarkable achievements of the Hainan FTP construction, the delegates were bullish on a promising converge of development needs between the two areas, which are close neighbors with complementary strengths.\n\n\n\n“I’m quite impressed by the confidence with which the people here in Hainan introduce their hometown’s history, culture, distinctive industries and development strategy,” said Alexander Kaymer, co-founder and managing director of KAYRO Solutions of the Austrian Chamber of Commerce in Hong Kong and Macao. In fact, many in the delegation shared this sentiment with Xinhua.\n\n\n\n“What lures investors to Hainan is that the people here are not just talking about having good and cheap beaches or clean air, that sort of homogeneous concepts, but concretizing the idea of green economy with such indicators as zero carbon and clean production, and really building green industries and eco-tourism into local brands,” said Johannes Hack, president of the German Chamber of Commerce in Hong Kong.\n\n\n\nThe Hainan Free Trade Port features a clear top-level design and blueprint, and focuses on building regional trademarks, Hack said, noting that Hong Kong, an international metropolis boasting edges in professional services, can help Hainan with attracting and utilizing foreign investment.\n\n\n\nThe two areas can recalibrate their roles in terms of investment categories, with Hong Kong being an ideal option for investing in the secondary market while the Hainan FTP being a suitable place for high-tech venture capital, he added.\n\n\n\n“This is my first visit to Hainan, but it certainly won’t be my last. It’s amazing and worth more visits,” Ahmed Elbeshlawy, an analyst of the Consulate-General of the United Arab Emirates (UAE) in Hong Kong, told Xinhua, saying that he was impressed by the “richness” in Hainan, including the abundant resources, the diversified industries, and the untapped potential.\n\n\n\nWith experience in clean production, seed breeding and medical tourism, Hainan is a promised land for businesses, particularly ESG (environmental, social, and governance) investing, Elbeshlawy said. “It’s reasonable to believe that in the future, the relevant industries will emerge stronger, their scope of business expanding from the Chinese mainland to the wider world.”\n\n\n\nThe UAE government is currently leading a nationwide green push, he said, adding that Hainan’s optimal location, cost-effectiveness and inspiring experience in ESG will pool more global green and high-tech investments, including both Hong Kong-based multinationals and UAE enterprises.\n\n\n\nParticularly, via the platform of the GBA, bigger enterprises can capitalize on a slew of measures to boost financial market interconnectivity including the Cross-boundary Wealth Management Connect Scheme and Shenzhen-Hong Kong Stock Connect, Elbeshlawy said, noting that this is where the development needs of the GBA and the FTP can converge.\n\n\n\nSpeaking about the visit to the Hainan International Commercial Aerospace Launch Center and the Wenchang Aerospace Supercomputing Center, David Whitwam, chairman of the New Zealand Chamber of Commerce in Hong Kong, told Xinhua that he was very excited to see these high-end facilities up close.\n\n\n\nChina has been deeply engaged in the aerospace field, and its technology ranks among the top globally, Whitwam said. “It’s a fresh experience to get to see so many industries, including space exploration, developing on Hainan Island simultaneously. Investors based in Hong Kong and those from New Zealand should really come and see for themselves.”\n\n\n\nThe five-day trip spanned across the whole island, covering such cities as Haikou, Wenchang, Qionghai, Danzhou, Changjiang and Sanya, which excel respectively in new energy vehicles manufacturing, biotechnology, aerospace, nuclear energy, medical tourism, seed breeding, deep sea technology, among others.\n\n\n\n“When I think of a free trade port, I think of sort of heavy industry and shipping and those sorts of things. Whereas this is so much more (here in Hainan),” said Paul McComb, executive director of the British Chamber of Commerce in Hong Kong. “So in my sense it’s a bit of a gem, or FTP plus.”\n\n\n\nHong Kong, with its favorable business environment and internationally aligned legal and tax systems, remains highly attractive as an offshore venue for Chinese companies seeking to pool foreign talents, and Hainan, with its science parks, new productive forces as well as geographical proximity, can be a perfect place for such collaboration, McComb said.\n\n\n\nMembers of the delegation also shared their excitement about China’s newly enforced measure to grant five-year multi-entry travel permits to non-Chinese permanent residents in Hong Kong and Macao, bullish on future cooperation prospects between the GBA and the Hainan FTP as well as beyond with more exchanges.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 23:57", "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/image.jpeg", "tags": [ "China", "Greater Bay", "MNA" ], "summary": "A delegation of consular corps and business communities in Hong Kong has just concluded a five-day Hainan visit, eyeing further collaboration between the two dynamic export hubs of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Hainan Free Trade Port (FTP)." }, { "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/mainland-macau-cars-to-be-allowed-to-reach-hks-hzm-bridge-border-by-year-end-under-new-scheme-report/", "url": "https://www.macaubusiness.com/mainland-macau-cars-to-be-allowed-to-reach-hks-hzm-bridge-border-by-year-end-under-new-scheme-report/", "title": "Mainland, Macau cars to be allowed to reach HK\u2019s HZM Bridge border by year-end under new scheme\u2013 Report", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/105012024052100008282-150x150.jpg\")
\nHong Kong is set to allow private cars from Macau and mainland China to reach the neighbouring SAR’s border at the he Hong Kong-Zhuhai-Macau Bridge under a new southbound scheme as early as the end of the year.
\n\n\n\nAccording to South China Morning Post, citing Hong Kong’s transport minister, the start of the scheme will be on a smaller scale than previously suggested, with several hundred vehicles likely to be allowed.
\n\n\n\nThe Southbound Travel for Guangdong Vehicles scheme will initially provide more than 1,000 automated parking spaces on the artificial island at the Hong Kong border of the mega-bridge.
\n\n\n\nThis is a departure from the previously reported plan to provide 6,000 spaces.
\n\n\n\n“We want to start with a smaller scale,” Secretary for Transport and Logistics Lam Sai-hung was quoted as saying.
\n\n\n\n“If demand is good, we will plan the next stage of development. I expect it to be popular.”
\n\n\n\nAs part of a drive to achieve the goal of a “one-hour life circle”, the scheme will allow visitors from Macau and Guangdong province to drive to Hong Kong, park their cars on the artificial island of the 55-kilometre link.
\n\n\n\nThey can then take a bus to the city’s airport for international travel, or enter Hong Kong through the bridge checkpoint.
\n\n\n\nThe parking arrangement means drivers will not be allowed to drive around Hong Kong, which will ease traffic pressure in the city, SCMP notes.
\n\n\n\nA separate scheme grants limited quotes for Macau private and company vehicles to Hong Kong, an allocation which is determined by lucky draw.\u00a0
\n\n\n\nThe latest batch of three-year permits, comprising 750 vehicles, was unveiled last month. A previous allocation of 2,500 quotas was rolled out earlier this year.
\n", "content_text": "Hong Kong is set to allow private cars from Macau and mainland China to reach the neighbouring SAR’s border at the he Hong Kong-Zhuhai-Macau Bridge under a new southbound scheme as early as the end of the year.\n\n\n\nAccording to South China Morning Post, citing Hong Kong’s transport minister, the start of the scheme will be on a smaller scale than previously suggested, with several hundred vehicles likely to be allowed.\n\n\n\nThe Southbound Travel for Guangdong Vehicles scheme will initially provide more than 1,000 automated parking spaces on the artificial island at the Hong Kong border of the mega-bridge.\n\n\n\nThis is a departure from the previously reported plan to provide 6,000 spaces. \n\n\n\n“We want to start with a smaller scale,” Secretary for Transport and Logistics Lam Sai-hung was quoted as saying. \n\n\n\n“If demand is good, we will plan the next stage of development. I expect it to be popular.”\n\n\n\nAs part of a drive to achieve the goal of a “one-hour life circle”, the scheme will allow visitors from Macau and Guangdong province to drive to Hong Kong, park their cars on the artificial island of the 55-kilometre link.\n\n\n\nThey can then take a bus to the city’s airport for international travel, or enter Hong Kong through the bridge checkpoint.\n\n\n\nThe parking arrangement means drivers will not be allowed to drive around Hong Kong, which will ease traffic pressure in the city, SCMP notes.\n\n\n\nA separate scheme grants limited quotes for Macau private and company vehicles to Hong Kong, an allocation which is determined by lucky draw.\u00a0\n\n\n\nThe latest batch of three-year permits, comprising 750 vehicles, was unveiled last month. A previous allocation of 2,500 quotas was rolled out earlier this year.", "date_published": "July 12, 2024", "date_modified": "July 13, 2024 - 01:17", "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/2024/07/105012024052100008282.jpg", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Hong Kong is set to open its doors to private cars from mainland China and Macau via the Hong Kong-Zhuhai-Macau Bridge as early as the end of the year." }, { "id": "https://www.macaubusiness.com/chinas-beverage-giant-mixue-debuts-in-macau/", "url": "https://www.macaubusiness.com/chinas-beverage-giant-mixue-debuts-in-macau/", "title": "China\u2019s beverage giant Mixue debuts in Macau", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240712182902-150x150.jpg\")
\nChina’s largest bubble\ntea chain, Mixue Ice Cream & Tea, opened its first shop in Macau on Friday in\nthe popular tourist spot Senado Square.
\n\n\n\nIn terms of the number\nof outlets, Mixue ranks first in China and second globally, among fresh\nbeverage makers, boasting 31,568 outlets around the globe as of last week.
\n\n\n\nThe opening of Mixue’s local\nstop follows the launch of its Hong Kong branch at the end of last year. Known\nfor its low prices on the Chinese mainland, the brand\u2019s expansion into Hong\nKong attracted widespread attention and garnered long queues of eager\ncustomers.
\n\n\n\nIn January 2024, Mixue\nGroup filed for an initial public offering (IPO) in Hong Kong. However, no\nprogress had been made before the prospectus expired early this week.
\n\n\n\nAt Mixue’s Macau store,\nthe prices of ice cream and beverages range from MOP5 to MOP20, mirroring the\npricing in their Hong Kong counterpart.
\n\n\n\nHowever, there\nis a significant gap in pricing between stores in the two SARs and in\nmainland China, with beverages commanding an average price twice as high as\nsimilar products on the mainland.
\n\n\n\nIn an interview with\nlocal Chinese language news outlet Macau Daily, Sun Lili, the company’s\nspokesperson, expressed optimism about the Macau market and highlighted the\nbrand’s intention to enhance cooperation with Portuguese-speaking countries,\nleveraging Macau’s positioning as ‘One Centre, One Platform, and One Base\u2019.
\n\n\n\nMeanwhile, the\npresident of the Commerce and Investment Promotion Institute, U U Sang\ncommented that the bureau would continue to support Mixue’s expansion into the\nMacau market, as the brand holds the potential to \u2018generate more employment\nopportunities for the youth\u2019.
\n\n\n\nThe chairman also\nexpressed the hope that Mixue would establish more shops in the city in\nthe future, thereby attracting visitors to explore local neighbourhoods\nand drive consumption.
\n", "content_text": "China’s largest bubble\ntea chain, Mixue Ice Cream & Tea, opened its first shop in Macau on Friday in\nthe popular tourist spot Senado Square.\n\n\n\nIn terms of the number\nof outlets, Mixue ranks first in China and second globally, among fresh\nbeverage makers, boasting 31,568 outlets around the globe as of last week.\n\n\n\nThe opening of Mixue’s local\nstop follows the launch of its Hong Kong branch at the end of last year. Known\nfor its low prices on the Chinese mainland, the brand\u2019s expansion into Hong\nKong attracted widespread attention and garnered long queues of eager\ncustomers.\n\n\n\nIn January 2024, Mixue\nGroup filed for an initial public offering (IPO) in Hong Kong. However, no\nprogress had been made before the prospectus expired early this week.\n\n\n\nAt Mixue’s Macau store,\nthe prices of ice cream and beverages range from MOP5 to MOP20, mirroring the\npricing in their Hong Kong counterpart.\n\n\n\nHowever, there\nis a significant gap in pricing between stores in the two SARs and in\nmainland China, with beverages commanding an average price twice as high as\nsimilar products on the mainland.\n\n\n\nIn an interview with\nlocal Chinese language news outlet Macau Daily, Sun Lili, the company’s\nspokesperson, expressed optimism about the Macau market and highlighted the\nbrand’s intention to enhance cooperation with Portuguese-speaking countries,\nleveraging Macau’s positioning as ‘One Centre, One Platform, and One Base\u2019.\n\n\n\nMeanwhile, the\npresident of the Commerce and Investment Promotion Institute, U U Sang\ncommented that the bureau would continue to support Mixue’s expansion into the\nMacau market, as the brand holds the potential to \u2018generate more employment\nopportunities for the youth\u2019.\n\n\n\nThe chairman also\nexpressed the hope that Mixue would establish more shops in the city in\nthe future, thereby attracting visitors to explore local neighbourhoods\nand drive consumption.", "date_published": "July 12, 2024", "date_modified": "July 12, 2024 - 18:49", "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_20240712182902.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/gba-firms-positive-on-outlook-plan-upgrade-and-investment-research/", "url": "https://www.macaubusiness.com/gba-firms-positive-on-outlook-plan-upgrade-and-investment-research/", "title": "GBA firms positive on outlook, plan upgrade and investment \u2013 Research", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Macau-Hengqin-Sky-150x150.jpeg\")
\nEnterprises in the Guangdong-Hong Kong-Macau Greater Bay Area are optimistic about their business prospects, according to the latest findings from the Standard Chartered GBA Business Confidence Index (GBAI).
\n\n\n\nThe research, conducted jointly by Standard Chartered and the Hong Kong Trade Development Council (HKTDC), provides insights into the region’s economic prospects.
\n\n\n\nBased on the survey results for the second quarter of this year, the overall performance index for business activity remained largely unchanged at 54.1, compared to the 54.3 reported in the previous January-March period. The second-quarter figure is close to its highest level since the second quarter of 2021.
\n\n\n\nThe GBAI expectations index rose to 54.8 in the second quarter from 54.0 previously, marking the first rise in five quarters.
\n\n\n\n\u201cThe figures remain comfortably above the 50 neutral mark, reflecting sustained expansionary momentum following a solid start to the year,\u201d the research team wrote.
\n\n\n\nAnalysed by industry categories, the retail and wholesale sector saw a quarter-on-quarter increase of 3.9 points for current performance and a rise of 2.6 points for expectations.
\n\n\n\nThe financial services sector recorded a surge of 15.0 points for current performance and 10.7 points for expectations, while the professional services sector saw growth of 7.6 points and 12.3 points for current performance and expectations, respectively.
\n\n\n\nThe IT sector appeared to take a hit from tariff concerns, with the category\u2019s current performance sub-index plunging to 43.9 from 57.8 previously, and expectations falling sharply to 38.1 from 54.6 in the first quarter.
\n\n\n\nThe research team noted that the May Labour Day holiday and an early start to the 618 online shopping festival in the mainland probably boosted household demand, allowing retail and wholesale to outperform manufacturing and trading, despite a stronger start to the year for manufacturing.
\n\n\n\nAdditionally, the research team highlighted that the risk of overcapacity or macro concerns, such as an uncertain economic outlook, did not deter GBA companies from upgrading equipment and planning to make other business investments in the next 12 months
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_8787-150x150.jpeg\")
\nAn updated design for a Zhuhai immigration and customs inspection station has provided the latest sign of the possible construction of an underwater passageway between the neighbouring city and Macau.
\n\n\n\nAccording to the Zhuhai Bureau of Land and Resources, the facility will cover an area of 20,000 square metres – opposite the Light Rapid Transit station in Barra.
\n\n\n\nThe plan made public for viewing, which is yet to be approved, also mentions the long-discussed project of an underwater pedestrian tunnel – a link that is expected to significantly improve connectivity between the Inner Harbour district and Wanzhai, a town in Zhuhai’s Xiangzhou district.
\n\n\n\nFerry services, which take between five and ten minutes, are currently the main mode of transport for people crossing the border between the two sides.
\n", "content_text": "An updated design for a Zhuhai immigration and customs inspection station has provided the latest sign of the possible construction of an underwater passageway between the neighbouring city and Macau.\n\n\n\nAccording to the Zhuhai Bureau of Land and Resources, the facility will cover an area of 20,000 square metres – opposite the Light Rapid Transit station in Barra.\n\n\n\nThe plan made public for viewing, which is yet to be approved, also mentions the long-discussed project of an underwater pedestrian tunnel – a link that is expected to significantly improve connectivity between the Inner Harbour district and Wanzhai, a town in Zhuhai’s Xiangzhou district.\n\n\n\nFerry services, which take between five and ten minutes, are currently the main mode of transport for people crossing the border between the two sides.", "date_published": "July 10, 2024", "date_modified": "July 10, 2024 - 20:16", "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_8787.jpeg", "tags": [ "China", "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "An updated design for a Zhuhai immigration and customs inspection station has provided the latest sign of the possible construction of an underwater passageway between the neighbouring city and Macau." }, { "id": "https://www.macaubusiness.com/guangzhou-removes-purchase-curbs-for-sar-residents/", "url": "https://www.macaubusiness.com/guangzhou-removes-purchase-curbs-for-sar-residents/", "title": "Guangzhou removes purchase curbs for SAR residents", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-6-150x150.jpg\")
\nGuangzhou has lifted restrictions on home purchases by foreigners, including those from Hong Kong, Macau and Taiwan, in a bid to prop up its sagging property market.
\n\n\n\nThe authorities made the confirmation on Tuesday amid rumours circulating online.
\n\n\n\nUnder the new rules, Macau buyers will now be allowed to buy a residential property of 120 square metres or less in areas subject to purchase restrictions.
\n\n\n\nAuthorities said the policy had been in place since last week, with prospective buyers required to submit their identity documents and travel permits.
\n\n\n\nThose from Taiwan or overseas Chinese, meanwhile, should provide proof of employment or study in Guangzhou city.
\n\n\n\nFor larger apartments, there is no limit on the number of properties that can be purchased, whether in non-restricted or restricted areas.
\n\n\n\nIn May this year, the Guangzhou government announced a reduction in down payment requirements for property purchases – reportedly the largest among the country’s first-tier cities.
\n\n\n\nFor families buying their first home, the minimum down payment has been lowered to a minimum of 15 per cent.
\n\n\n\nMeanwhile, the previous interest rate floor has been abolished.
\n\n\n\nSimilarly, for prospective buyers of a second residential property, the minimum down payment ratio has been adjusted to a minimum of 25 per cent.
\n", "content_text": "Guangzhou has lifted restrictions on home purchases by foreigners, including those from Hong Kong, Macau and Taiwan, in a bid to prop up its sagging property market.\n\n\n\nThe authorities made the confirmation on Tuesday amid rumours circulating online.\n\n\n\nUnder the new rules, Macau buyers will now be allowed to buy a residential property of 120 square metres or less in areas subject to purchase restrictions.\n\n\n\nAuthorities said the policy had been in place since last week, with prospective buyers required to submit their identity documents and travel permits.\n\n\n\nThose from Taiwan or overseas Chinese, meanwhile, should provide proof of employment or study in Guangzhou city.\n\n\n\nFor larger apartments, there is no limit on the number of properties that can be purchased, whether in non-restricted or restricted areas.\n\n\n\nIn May this year, the Guangzhou government announced a reduction in down payment requirements for property purchases – reportedly the largest among the country’s first-tier cities.\n\n\n\nFor families buying their first home, the minimum down payment has been lowered to a minimum of 15 per cent.\n\n\n\nMeanwhile, the previous interest rate floor has been abolished.\n\n\n\nSimilarly, for prospective buyers of a second residential property, the minimum down payment ratio has been adjusted to a minimum of 25 per cent.", "date_published": "July 09, 2024", "date_modified": "July 10, 2024 - 07:44", "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-6.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/business-delegation-from-hong-kong-eyes-synergy-opportunities-from-visit-to-hainan/", "url": "https://www.macaubusiness.com/business-delegation-from-hong-kong-eyes-synergy-opportunities-from-visit-to-hainan/", "title": "Business delegation from Hong Kong eyes synergy, opportunities from visit to Hainan", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/668ca483f3e8fabeeeb6a1ea_570x-150x150.jpg\")
\nA delegation of consular corps and business communities in Hong Kong has departed from the Hong Kong Special Administrative Region (HKSAR) for south China’s Hainan Province on a 5-day visit to explore broader synergy between the two dynamic export hubs.
\n\n\n\nPrior to its departure, a launch ceremony was held at the Hong Kong International Airport, during which Li Yongsheng, deputy commissioner of the Commissioner’s Office of the Ministry of Foreign Affairs in the HKSAR, also the organizer of the event, delivered a speech.
\n\n\n\nHong Kong has the ability to play a greater role in strengthening the synergy and coordinated development between the Hainan Free Trade Port and Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Li said, hoping that through a fruitful visit, the members of the delegation would have a deeper understanding of the construction of the Hainan Free Trade Port as well as the role of Hong Kong in that synergy.
\n\n\n\nDavid Whitwam, chairman of the New Zealand Chamber of Commerce in Hong Kong, told Xinhua that New Zealand and Hong Kong enjoy close trade ties, and that the Hong Kong market has a great demand for New Zealand’s farm produce and beverages including dairy products.
\n\n\n\nA long-time resident in Hong Kong, Whitwam has been impressed by the rapid changes and vitality of Hong Kong, particularly thanks to a series of newly-rolled out preferential policies, such as starting from July 10, non-Chinese permanent residents of Hong Kong and Macao will be eligible to apply for special travel permits to enter the mainland, from which he sees unlimited opportunities for Hong Kong to link up with the Chinese mainland and beyond. He looks forward to more inspiration and broader business opportunities.
\n\n\n\nFrom Monday to Friday, the delegation will visit a few cities in Hainan, including Haikou, Wenchang, Qionghai, Danzhou, Changjiang and Sanya.
\n", "content_text": "A delegation of consular corps and business communities in Hong Kong has departed from the Hong Kong Special Administrative Region (HKSAR) for south China’s Hainan Province on a 5-day visit to explore broader synergy between the two dynamic export hubs.\n\n\n\nPrior to its departure, a launch ceremony was held at the Hong Kong International Airport, during which Li Yongsheng, deputy commissioner of the Commissioner’s Office of the Ministry of Foreign Affairs in the HKSAR, also the organizer of the event, delivered a speech.\n\n\n\nHong Kong has the ability to play a greater role in strengthening the synergy and coordinated development between the Hainan Free Trade Port and Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Li said, hoping that through a fruitful visit, the members of the delegation would have a deeper understanding of the construction of the Hainan Free Trade Port as well as the role of Hong Kong in that synergy.\n\n\n\nDavid Whitwam, chairman of the New Zealand Chamber of Commerce in Hong Kong, told Xinhua that New Zealand and Hong Kong enjoy close trade ties, and that the Hong Kong market has a great demand for New Zealand’s farm produce and beverages including dairy products.\n\n\n\nA long-time resident in Hong Kong, Whitwam has been impressed by the rapid changes and vitality of Hong Kong, particularly thanks to a series of newly-rolled out preferential policies, such as starting from July 10, non-Chinese permanent residents of Hong Kong and Macao will be eligible to apply for special travel permits to enter the mainland, from which he sees unlimited opportunities for Hong Kong to link up with the Chinese mainland and beyond. He looks forward to more inspiration and broader business opportunities.\n\n\n\nFrom Monday to Friday, the delegation will visit a few cities in Hainan, including Haikou, Wenchang, Qionghai, Danzhou, Changjiang and Sanya.", "date_published": "July 09, 2024", "date_modified": "July 09, 2024 - 14:37", "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/2024/07/668ca483f3e8fabeeeb6a1ea_570x.jpg", "tags": [ "China", "Greater Bay", "MNA" ], "summary": "A delegation of consular corps and business communities in Hong Kong has departed from the Hong Kong Special Administrative Region (HKSAR) for south China's Hainan Province on a 5-day visit to explore broader synergy between the two dynamic export hubs." }, { "id": "https://www.macaubusiness.com/zhuhai-unveils-plan-for-chinese-medicine-hub-to-attract-spending/", "url": "https://www.macaubusiness.com/zhuhai-unveils-plan-for-chinese-medicine-hub-to-attract-spending/", "title": "Zhuhai unveils plan for Chinese medicine hub to attract spending", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-3-150x150.jpg\")
\nZhuhai authorities are transforming several streets into a hub for traditional Chinese medicine, aiming to establish them as “the country’s largest center for online and offline sales” of these age-old remedies.
\n\n\n\nOn Monday, a strategic pact\nwas signed between the Zhuhai government and the Guangdong Provincial Hospital\nof Traditional Chinese Medicine.
\n\n\n\nThree districts – the Jida\nresidential area, the New Yuanming Palace and the city’s high-tech zone – are\ninvolved in the project, which is due to be completed by October this year.
\n\n\n\nAccording to local media, the\nauthorities are aiming to create a “new” and “high-quality”\nhealthcare consumer experience.
\n\n\n\nThe Zhuhai government is also\nlooking to incorporate elements of food and beverage, tourism, regimen and\nculture into the project.
\n\n\n\n“The trend of Hong Kong\nand Macau residents driving north to spend money has become popular,” said\nHuang Zhihao, mayor of Zhuhai.
\n\n\n\n“However, this trend is\nmainly limited to dining out, late-night snacks and regular shopping, while the\ndemand for a high-end lifestyle has yet to be met.”
\n\n\n\nThe plan for a Chinese medicine hub comes as the local authorities set their sights on another leisure district long frequented by Macau residents.
\n\n\n\nSeveral bustling streets stretching\nfor some 580 metres near the Border Gate will soon give rise to a new entertainment\ncomplex for \u201ccultural tourism, consumption and socialising\u201d.
\n", "content_text": "Zhuhai authorities are transforming several streets into a hub for traditional Chinese medicine, aiming to establish them as “the country’s largest center for online and offline sales” of these age-old remedies.\n\n\n\nOn Monday, a strategic pact\nwas signed between the Zhuhai government and the Guangdong Provincial Hospital\nof Traditional Chinese Medicine.\n\n\n\nThree districts – the Jida\nresidential area, the New Yuanming Palace and the city’s high-tech zone – are\ninvolved in the project, which is due to be completed by October this year. \n\n\n\nAccording to local media, the\nauthorities are aiming to create a “new” and “high-quality”\nhealthcare consumer experience. \n\n\n\nThe Zhuhai government is also\nlooking to incorporate elements of food and beverage, tourism, regimen and\nculture into the project. \n\n\n\n“The trend of Hong Kong\nand Macau residents driving north to spend money has become popular,” said\nHuang Zhihao, mayor of Zhuhai.\n\n\n\n“However, this trend is\nmainly limited to dining out, late-night snacks and regular shopping, while the\ndemand for a high-end lifestyle has yet to be met.”\n\n\n\nThe plan for a Chinese medicine hub comes as the local authorities set their sights on another leisure district long frequented by Macau residents.\n\n\n\nSeveral bustling streets stretching\nfor some 580 metres near the Border Gate will soon give rise to a new entertainment\ncomplex for \u201ccultural tourism, consumption and socialising\u201d.", "date_published": "July 09, 2024", "date_modified": "July 09, 2024 - 13:32", "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-3.jpg", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Zhuhai authorities are transforming several streets into a hub for traditional Chinese medicine, aiming to establish them as \"the country's largest center for online and offline sales\" of these age-old remedies." }, { "id": "https://www.macaubusiness.com/hengqin-wants-some-office-buildings-to-be-hotels1/", "url": "https://www.macaubusiness.com/hengqin-wants-some-office-buildings-to-be-hotels1/", "title": "Hengqin wants some office buildings to be hotels", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Hengqin-skyline-new-150x150.png\")
\nHengqin has now allowed buildings originally built for other purposes to be converted into hotel accommodation in a move to boost investment in the neighbouring island.
\n\n\n\nTwo measures were announced\nlate last week with the aim of \u201cunleashing the potential of hotel development\u201d.
\n\n\n\nThey target office\nblocks designated for commercial, cultural, creative, high-tech, and scientific\nresearch purposes \u2013 including existing constructions.
\n\n\n\nHowever, according to the Monday announcement, \u201ctemporary conversion\u201d approval will only go to projects that are \u201cmeaningful\u201d to the industries of cultural tourism, exhibition, as well as trade and commerce.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/PHOTO-2024-05-22-17-33-00_2-1028x771.jpg\")
According to the Hengqin\nauthorities, applicants are allowed to submit their applications with a minimum\nduration of eight years \u2013 on the condition that the period of hotel operation does\nnot exceed the remaining term of the right to land use.
\n\n\n\nApplicants can also\nrequest a period extension from the executive committee of the cooperation zone\nwhen the period for using the building as a hotel is approaching an end within\nthree months.
\n\n\n\nThe authorities said\nthat after the eight-year period, of hotel operation, applicants will also be\nallowed to request termination.
\n\n\n\nLast week, Hengqin unveiled a raft of incentives designed to bring international sports events to the city and nurture youth development in the field.
\n\n\n\nRead more: From boardrooms to bedrooms
\n", "content_text": "Hengqin has now allowed buildings originally built for other purposes to be converted into hotel accommodation in a move to boost investment in the neighbouring island.\n\n\n\nTwo measures were announced\nlate last week with the aim of \u201cunleashing the potential of hotel development\u201d.\n\n\n\nThey target office\nblocks designated for commercial, cultural, creative, high-tech, and scientific\nresearch purposes \u2013 including existing constructions. \n\n\n\nHowever, according to the Monday announcement, \u201ctemporary conversion\u201d approval will only go to projects that are \u201cmeaningful\u201d to the industries of cultural tourism, exhibition, as well as trade and commerce.\n\n\n\n\n\n\n\nAccording to the Hengqin\nauthorities, applicants are allowed to submit their applications with a minimum\nduration of eight years \u2013 on the condition that the period of hotel operation does\nnot exceed the remaining term of the right to land use.\n\n\n\nApplicants can also\nrequest a period extension from the executive committee of the cooperation zone\nwhen the period for using the building as a hotel is approaching an end within\nthree months.\n\n\n\nThe authorities said\nthat after the eight-year period, of hotel operation, applicants will also be\nallowed to request termination. \n\n\n\nLast week, Hengqin unveiled a raft of incentives designed to bring international sports events to the city and nurture youth development in the field.\n\n\n\nRead more: From boardrooms to bedrooms", "date_published": "July 09, 2024", "date_modified": "July 09, 2024 - 12:15", "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/Hengqin-skyline-new.png", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Two measures were announced late last week with the aim of \u201cunleashing the potential of hotel development\u201d.\nThey target office blocks designated for commercial, cultural, creative, high-tech, and scientific research purposes \u2013 including existing constructions." }, { "id": "https://www.macaubusiness.com/macao-science-center-establishes-educational-base-at-hengqin-national-urban-wetland-park/", "url": "https://www.macaubusiness.com/macao-science-center-establishes-educational-base-at-hengqin-national-urban-wetland-park/", "title": "Macao Science Center establishes educational base at Hengqin National Urban Wetland Park", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Macao-Science-Centre-Hengqin-150x150.png\")
\n\n\n\n\nThe Urban Planning and Construction Bureau of the Guangdong-Macao\u00a0In-Depth Cooperation Zone in Hengqin signed a strategic cooperation framework agreement with the Macao\u00a0Science Center\u00a0on July 4th. This collaboration aims to integrate science education resources from both regions, and jointly promote science popularization.
\n\n\n\nAs part of this agreement, the Macao Science Center will establish an education base at the Hengqin National Urban Wetland Park. The center plans to offer a series of specialized courses focusing on sustainable development and ecology.
\n\n\n\nHengqin hopes to further collaborate with the Macao Science Center by developing science courses tailored to Macao students. Aligning with the science and technology curriculum guidelines of Macao’s primary and secondary schools, the initiative will combine Hengqin\u2019s facilities and Macao Science Center\u2019s educational resources to design diverse educational activities for students.
\n\n\n\nMeanwhile, both parties are about to launch a science film production competition for youth, encouraging young people to visit the wetland park, explore various topics, and create science films focusing on biodiversity and sustainable development for display.
\n\n\n\n\n", "content_text": "By Newsgd.com \n\n\n\nThe Urban Planning and Construction Bureau of the Guangdong-Macao\u00a0In-Depth Cooperation Zone in Hengqin signed a strategic cooperation framework agreement with the Macao\u00a0Science Center\u00a0on July 4th. This collaboration aims to integrate science education resources from both regions, and jointly promote science popularization.\n\n\n\nAs part of this agreement, the Macao Science Center will establish an education base at the Hengqin National Urban Wetland Park. The center plans to offer a series of specialized courses focusing on sustainable development and ecology.\n\n\n\nHengqin hopes to further collaborate with the Macao Science Center by developing science courses tailored to Macao students. Aligning with the science and technology curriculum guidelines of Macao’s primary and secondary schools, the initiative will combine Hengqin\u2019s facilities and Macao Science Center\u2019s educational resources to design diverse educational activities for students.\n\n\n\nMeanwhile, both parties are about to launch a science film production competition for youth, encouraging young people to visit the wetland park, explore various topics, and create science films focusing on biodiversity and sustainable development for display.", "date_published": "July 05, 2024", "date_modified": "July 06, 2024 - 02:22", "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/2024/07/Macao-Science-Centre-Hengqin.png", "tags": [ "Greater Bay", "Macau", "MNA" ], "summary": "The Urban Planning and Construction Bureau of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin signed a strategic cooperation framework agreement with the Macao Science Center on July 4th. This collaboration aims to integrate science education resources from both regions, and jointly promote science popularization." }, { "id": "https://www.macaubusiness.com/shenzhen-to-pilot-smart-car-vehicle-road-cloud-integration/", "url": "https://www.macaubusiness.com/shenzhen-to-pilot-smart-car-vehicle-road-cloud-integration/", "title": "Shenzhen to pilot smart car \u2018vehicle-road-cloud integration\u2019", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Smart-vehicles-Qianhai-150x150.png\")
\nShenzhen has been selected as one of 20 cities in China to lead a “vehicle-road-cloud integration” pilot initiative aimed at advancing intelligent connected vehicles (ICVs), Shenzhen Daily reported.
\n\n\n\nThe Chinese government plans to establish a cohesive standard system for this integration by 2026 to facilitate the deployment of smart vehicles, according to a statement from the Ministry of Industry and Information Technology.
\n\n\n\nThe “vehicle-road-cloud integration” concept, crucial for the ICV sector, aims to enhance the commercial use of smart vehicles through the combination of intelligent driving technologies with roadside sensors and cloud-based control systems.
\n\n\n\nShenzhen is vigorously developing next-generation smart transportation infrastructure and digital road networks to support the ICV ecosystem. Key domestic companies, including ZTE, Genvict, and Soling, are investing strategically in “vehicle-road-cloud integration” technologies. These companies are leaders in communications services, IoT, and intelligent transportation systems.
\n", "content_text": "Shenzhen has been selected as one of 20 cities in China to lead a “vehicle-road-cloud integration” pilot initiative aimed at advancing intelligent connected vehicles (ICVs), Shenzhen Daily reported.\n\n\n\nThe Chinese government plans to establish a cohesive standard system for this integration by 2026 to facilitate the deployment of smart vehicles, according to a statement from the Ministry of Industry and Information Technology.\n\n\n\nThe “vehicle-road-cloud integration” concept, crucial for the ICV sector, aims to enhance the commercial use of smart vehicles through the combination of intelligent driving technologies with roadside sensors and cloud-based control systems.\n\n\n\nShenzhen is vigorously developing next-generation smart transportation infrastructure and digital road networks to support the ICV ecosystem. Key domestic companies, including ZTE, Genvict, and Soling, are investing strategically in “vehicle-road-cloud integration” technologies. These companies are leaders in communications services, IoT, and intelligent transportation systems.", "date_published": "July 05, 2024", "date_modified": "July 06, 2024 - 02:36", "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/2024/07/Smart-vehicles-Qianhai.png", "tags": [ "China", "Greater Bay", "Macau", "MNA" ], "summary": "The Chinese government plans to establish a cohesive standard system for this integration by 2026 to facilitate the deployment of smart vehicles, according to a statement from the Ministry of Industry and Information Technology" }, { "id": "https://www.macaubusiness.com/china-weather-agency-says-extreme-summer-heat-to-persist/", "url": "https://www.macaubusiness.com/china-weather-agency-says-extreme-summer-heat-to-persist/", "title": "China weather agency says extreme summer heat to persist", "content_html": "\nChina’s weather agency expects extreme heat to persist across the country this summer as climate change pushes global temperatures higher, state media reported Thursday.
\n\n\n\nThe Asian nation is the world’s biggest emitter of greenhouse gases that scientists say cause global warming and make extreme weather more frequent and intense.
\n\n\n\nSwathes of northern China have already been baked by heat waves this summer, while unseasonably torrential rains have triggered deadly floods and landslides across much of the south.
\n\n\n\nState broadcaster CCTV said Thursday the China Meteorological Administration’s National Climate Centre forecasts that “air temperatures in most parts of the country will be somewhat higher… during the midsummer of this year”.
\n\n\n\n“Against the climatic backdrop of global warming, average temperatures will rise and the occurrence of high-temperature weather will tend to be frequent,” the centre said, according to CCTV.
\n\n\n\nThe mercury will edge one to two degrees Celsius higher than normal in Zhejiang, Jiangxi, Hunan, Fujian, Guangdong and Gansu provinces as well as the regions of Guangxi and Ningxia, the report said.
\n\n\n\nHowever, it said northeastern provinces and the northern region of Inner Mongolia will see close to normal temperatures.
\n\n\n\nChina ejects more planet-heating carbon dioxide into the atmosphere than any other country, but has pledged to bring emissions to a peak by 2030 and slash them to net zero by 2060.
\n\n\n\nAuthorities tend to acknowledge the role of climate change in extreme weather but rarely link them directly to national emissions, and Chinese officials have brushed aside suggestions that Beijing could make more ambitious cuts.
\n\n\n\nThe country saw an average of 2.6 high-temperature days — those with maximum highs of 35 C (95 degrees Fahrenheit) or above — in June, the fourth-highest figure since records began in 1961, CCTV cited the National Climate Centre as saying.
\n\n\n\nHeat records at 20 local weather stations broke historical records, the report added.
\n\n\n\n“As global warming intensifies, in recent years, high-temperature days in our country have… begun at earlier dates, occurred with increasing frequency, accumulated over longer periods, had a wider impact range and been generally stronger,” it said.
\n\n\n\nParts of northern China sweltered in temperatures of over 40 C last month.
\n\n\n\nAnd in eastern Anhui province this week, nearly a quarter of a million people were evacuated as rainstorms caused the mighty Yangtze and other rivers to swell.
\n\n\n\nAlso in June, a landslide in Hunan killed eight people, and heavy rains and flooding left 38 dead in Guangdong.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-1-150x150.jpg\")
\nMacau Urban Renewal (MUR),\nthe developer of the Macau New Neighbourhood (MNN) housing project, has\nconfirmed the transformation of a number of MNN units into a residence for\nstudents.
\n\n\n\nIn a statement released\non its WeChat official account on Wednesday, MUR confirmed that more than 200\nunits in Building 17 and 18 of MNN will be designated as talent housing\napartments, aiming to \u2018provide professionals in Hengqin with a high-quality\nliving environment\u2019.
\n\n\n\nThe developer said that\ndiscussions were underway with the University of Macau (UM), the Hengqin School\nAffiliated to Hou Kong Middle School, and the health station of MNN, regarding\nthe rental of the housing.
\n\n\n\nUM had previously informed its students that a section of MNN apartments would be earmarked for postgraduate student accommodation.
\n\n\n\nStudents opting for single rooms will be required to pay between MOP13,300 (US$1,653) and MOP14,950 per semester, while those going for double rooms will have to pay between MOP7,900 and MOP9,600 per semester.
\n\n\n\nThis information has\nsparked widespread debate on social media, with many questioning whether MNN is\nstill living up to its promise as a \u201clivelihood project built for Macau\nresidents\u201d.
\n\n\n\nMUR emphasised in the statement\nthat this move is intended to attract high-quality talents to reside in MNN,\nthereby enhancing the commercial atmosphere and vibrancy of the community.
\n\n\n\nAdditionally, MUR\nhighlighted that MNN is seen as \u2018an innovative and exploratory endeavor\u2019, being\nthe first livelihood project jointly developed by Macau and Hengqin.
\n\n\n\nSales of about 4,000\nflats in MNN began at the end of November 2023 and were exclusively available\nto Macau ID holders. However, as of June 2024, only about 30 percent of the\ninventory had been sold.
\n", "content_text": "Macau Urban Renewal (MUR),\nthe developer of the Macau New Neighbourhood (MNN) housing project, has\nconfirmed the transformation of a number of MNN units into a residence for\nstudents.\n\n\n\nIn a statement released\non its WeChat official account on Wednesday, MUR confirmed that more than 200\nunits in Building 17 and 18 of MNN will be designated as talent housing\napartments, aiming to \u2018provide professionals in Hengqin with a high-quality\nliving environment\u2019.\n\n\n\nThe developer said that\ndiscussions were underway with the University of Macau (UM), the Hengqin School\nAffiliated to Hou Kong Middle School, and the health station of MNN, regarding\nthe rental of the housing.\n\n\n\nUM had previously informed its students that a section of MNN apartments would be earmarked for postgraduate student accommodation. \n\n\n\nStudents opting for single rooms will be required to pay between MOP13,300 (US$1,653) and MOP14,950 per semester, while those going for double rooms will have to pay between MOP7,900 and MOP9,600 per semester.\n\n\n\nThis information has\nsparked widespread debate on social media, with many questioning whether MNN is\nstill living up to its promise as a \u201clivelihood project built for Macau\nresidents\u201d.\n\n\n\nMUR emphasised in the statement\nthat this move is intended to attract high-quality talents to reside in MNN,\nthereby enhancing the commercial atmosphere and vibrancy of the community.\n\n\n\nAdditionally, MUR\nhighlighted that MNN is seen as \u2018an innovative and exploratory endeavor\u2019, being\nthe first livelihood project jointly developed by Macau and Hengqin.\n\n\n\nSales of about 4,000\nflats in MNN began at the end of November 2023 and were exclusively available\nto Macau ID holders. However, as of June 2024, only about 30 percent of the\ninventory had been sold.", "date_published": "July 04, 2024", "date_modified": "July 04, 2024 - 15:11", "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/Untitled-1.jpg", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/shenzhen-zhongshan-link-lowers-business-cost-helps-businesses-to-tap-in-international-markets-business-reps/", "url": "https://www.macaubusiness.com/shenzhen-zhongshan-link-lowers-business-cost-helps-businesses-to-tap-in-international-markets-business-reps/", "title": "Shenzhen Zhongshan Link lowers business cost, helps businesses to tap in international markets \u2013 Business reps", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Shenzhen-Zhongshan-Bridge-150x150.jpg\")
\nBy Newsgd.com
\n\n\n\nThe opening of the Shenzhen-Zhongshan (ShenZhong) Link has ignited numerous new development opportunities for businesses in Zhongshan, as evidenced by the views and experiences shared by local leaders and entrepreneurs.
\n\n\n\nJason Yang, Director of Public Relation Department of Akeso Biopharma Co., Ltd., highlighted the company’s international reach, whose products are manufactured in Zhongshan and are now poised to efficiently access global markets via the Link and Shenzhen’s international airport, underscoring the Link’s role in enhancing the city’s export capabilities.
\n\n\n\nSherman, Deputy General Manager of Express Luck, emphasized the company’s export-oriented status, with 100% of products destined for overseas markets. He noted that the opening of the Link provides additional customs port options, crucial during peak seasons when container availability and port congestion can become critical issues. This new route offers a strategic alternative for logistics, ensuring smoother export operations.
\n\n\n\nJason Xu, General Manager of Guangdong Huapu Intelligent Technology Co., Ltd., anticipates significant cost savings on production management and logistics following the Link’s opening. The company expects to reduce costs by over 15% compared to the time they operated in Shenzhen, a figure that resonates with businesses looking to enhance competitiveness through optimized cost management.
\n\n\n\nAlston Fan, Deputy General Manager of Shenzhen YueShen Industry Development Co., Ltd., said that they are actively developing an international order platform. By integrating overseas orders, the platform aims to bring more business opportunities for local enterprises to venture abroad, leveraging the Link as a conduit for international trade and exchange.
\n\n\n\nJiang Bin, Director of the Urban Renewal and Construction Service Center, Xiaolan Town, points out that industries such as hardware, lighting, printing, and packaging are closely linked with Shenzhen’s high-end industries. The ShenZhong Link is expected to attract segments of the industry seeking higher industrial support or looking to optimize labor costs, with the Intelligent Industrial Park in Xiaolan standing out as a model for this symbiotic relationship.
\n\n\n\nAs the ShenZhong Link forges ahead, it promises to be more than an infrastructural advancement; it also offers businesses robust support for growth, cost efficiency, and international engagement, heralding a new era of prosperity for the region.
\n", "content_text": "By Newsgd.com \n\n\n\nThe opening of the Shenzhen-Zhongshan (ShenZhong) Link has ignited numerous new development opportunities for businesses in Zhongshan, as evidenced by the views and experiences shared by local leaders and entrepreneurs.\n\n\n\nJason Yang, Director of Public Relation Department of Akeso Biopharma Co., Ltd., highlighted the company’s international reach, whose products are manufactured in Zhongshan and are now poised to efficiently access global markets via the Link and Shenzhen’s international airport, underscoring the Link’s role in enhancing the city’s export capabilities.\n\n\n\nSherman, Deputy General Manager of Express Luck, emphasized the company’s export-oriented status, with 100% of products destined for overseas markets. He noted that the opening of the Link provides additional customs port options, crucial during peak seasons when container availability and port congestion can become critical issues. This new route offers a strategic alternative for logistics, ensuring smoother export operations.\n\n\n\nJason Xu, General Manager of Guangdong Huapu Intelligent Technology Co., Ltd., anticipates significant cost savings on production management and logistics following the Link’s opening. The company expects to reduce costs by over 15% compared to the time they operated in Shenzhen, a figure that resonates with businesses looking to enhance competitiveness through optimized cost management.\n\n\n\nAlston Fan, Deputy General Manager of Shenzhen YueShen Industry Development Co., Ltd., said that they are actively developing an international order platform. By integrating overseas orders, the platform aims to bring more business opportunities for local enterprises to venture abroad, leveraging the Link as a conduit for international trade and exchange.\n\n\n\nJiang Bin, Director of the Urban Renewal and Construction Service Center, Xiaolan Town, points out that industries such as hardware, lighting, printing, and packaging are closely linked with Shenzhen’s high-end industries. The ShenZhong Link is expected to attract segments of the industry seeking higher industrial support or looking to optimize labor costs, with the Intelligent Industrial Park in Xiaolan standing out as a model for this symbiotic relationship.\n\n\n\nAs the ShenZhong Link forges ahead, it promises to be more than an infrastructural advancement; it also offers businesses robust support for growth, cost efficiency, and international engagement, heralding a new era of prosperity for the region.", "date_published": "July 04, 2024", "date_modified": "July 04, 2024 - 22:39", "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/2024/06/Shenzhen-Zhongshan-Bridge.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/hengqin-touts-incentives-to-draw-sports-competitions/", "url": "https://www.macaubusiness.com/hengqin-touts-incentives-to-draw-sports-competitions/", "title": "Hengqin touts incentives to draw sports competitions", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-150x150.jpg\")
\nHengqin has unveiled a new playbook for its sports development with Macau, with one-off incentives for competitive games ranging from RMB2 million (US$270,000/MOP2.2 million) to RMB8 million.
\n\n\n\nAccording to the\nthree-year guidance effective from 1 July, there are seven types of categories\neligible for financial support from the government.
\n\n\n\nCompetitive games
\n\n\n\nAs for international\ncompetitions for at least 40,000 spectators, the maximum incentive is RMB8\nmillion.
\n\n\n\nHowever, the organiser\nitself has to provide at least USD2 million in cash prizes.
\n\n\n\nNational games are\neligible for RMB5 million, on the condition that cash prizes worth RMB10\nmillion are provided.
\n\n\n\nThe minimum incentive\nfor international games are RMB2 million as long as the number of spectators\nreaches 15,000, alongside the provision of US$500,000.
\n\n\n\nThe incentive is the\nsame for national competitions, yet cash prizes provided have to be worth at\nleast RMB4 million.
\n\n\n\nAll incentive\napplicants will have to hold their games for three consecutive years if their\napplications are successful.
\n\n\n\nLarge-scale sporting events
\n\n\n\nOrganisers of mass\nevents that are tailored to at least 15,000 are eligible for a one-off\nincentive of RMB2 million.
\n\n\n\nEvents organised under\nthe name of a group and involving 20 or more teams are eligible for a reward of\nup to RMB2 million, with the amount equivalent to 50 per cent of the actual investment\nin organising the event.
\n\n\n\nSelf-branded competitions
\n\n\n\nHengqin authorities are\nalso looking to tap into the island\u2019s natural resources for sports development,\nwith five categories particularly listed: cycling, water-based sports, road\nrace, orienteering, and triathlon.
\n\n\n\nGames in these areas are\nup for a one-off incentive of up to RMB2 million, with the amount to be granted\nequivalent to 50 per cent of the actual investment.
\n\n\n\nOther types are also up\nfor 40 per cent of the actual investment to a maximum of RMB1 million.
\n\n\n\nAdditional financial\nsupport, as much as RMB300,000, or 30 per cent of the actual investment, could\nbe granted if the games were broadcast via Hong Kong or Macau media, or\nprovincial-level media outlets.
\n\n\n\nExtension of Macau signature events
\n\n\n\nEvents that have been\nsubsidised by the Macau government for three years are eligible for 50 per cent\nof their investment, up to a maximum of RMB1 million.
\n\n\n\nHowever, an turnout of\n200 competitors or 20 competing groups is required.
\n\n\n\n300-strong events held in cooperation with non-governmental bodies could also be eligible for RMB50,000. Those with 100 competitors could receive a maximum of RMB20,000.
\n\n\n\nSubsidies for venue construction
\n\n\n\nThe Hengqin government\nalso provides an one-off award for investments linked to building or rescaling,\nwith the amount touted reaching 40 per cent of the cost of the project.
\n\n\n\nAs much as RMB1 million\ncould be granted for the construction of a 1500-square-metre pavilion or a\n2500-square-metre hall for sporting purposes.
\n\n\n\nOther supporting measures
\n\n\n\nProfessional clubs can\nnow apply for a maximum of RMB10 million per year if they finish in the top\nfive of the national professional league.
\n\n\n\nThose non-professional\nones could have the opportunity secure an annual maximum of RMB3 million if\nthey made it to the top three of the regional or city league.
\n\n\n\nEach excellent teenage\nsportsman is also given the chance to earn a maximum of RMB500,000 per year.
\n", "content_text": "Hengqin has unveiled a new playbook for its sports development with Macau, with one-off incentives for competitive games ranging from RMB2 million (US$270,000/MOP2.2 million) to RMB8 million.\n\n\n\nAccording to the\nthree-year guidance effective from 1 July, there are seven types of categories\neligible for financial support from the government. \n\n\n\nCompetitive games\n\n\n\nAs for international\ncompetitions for at least 40,000 spectators, the maximum incentive is RMB8\nmillion. \n\n\n\nHowever, the organiser\nitself has to provide at least USD2 million in cash prizes. \n\n\n\nNational games are\neligible for RMB5 million, on the condition that cash prizes worth RMB10\nmillion are provided. \n\n\n\nThe minimum incentive\nfor international games are RMB2 million as long as the number of spectators\nreaches 15,000, alongside the provision of US$500,000.\n\n\n\nThe incentive is the\nsame for national competitions, yet cash prizes provided have to be worth at\nleast RMB4 million.\n\n\n\nAll incentive\napplicants will have to hold their games for three consecutive years if their\napplications are successful.\n\n\n\nLarge-scale sporting events\n\n\n\nOrganisers of mass\nevents that are tailored to at least 15,000 are eligible for a one-off\nincentive of RMB2 million. \n\n\n\nEvents organised under\nthe name of a group and involving 20 or more teams are eligible for a reward of\nup to RMB2 million, with the amount equivalent to 50 per cent of the actual investment\nin organising the event.\n\n\n\nSelf-branded competitions \n\n\n\nHengqin authorities are\nalso looking to tap into the island\u2019s natural resources for sports development,\nwith five categories particularly listed: cycling, water-based sports, road\nrace, orienteering, and triathlon.\n\n\n\nGames in these areas are\nup for a one-off incentive of up to RMB2 million, with the amount to be granted\nequivalent to 50 per cent of the actual investment. \n\n\n\nOther types are also up\nfor 40 per cent of the actual investment to a maximum of RMB1 million. \n\n\n\nAdditional financial\nsupport, as much as RMB300,000, or 30 per cent of the actual investment, could\nbe granted if the games were broadcast via Hong Kong or Macau media, or\nprovincial-level media outlets.\n\n\n\nExtension of Macau signature events\n\n\n\nEvents that have been\nsubsidised by the Macau government for three years are eligible for 50 per cent\nof their investment, up to a maximum of RMB1 million.\n\n\n\nHowever, an turnout of\n200 competitors or 20 competing groups is required. \n\n\n\n300-strong events held in cooperation with non-governmental bodies could also be eligible for RMB50,000. Those with 100 competitors could receive a maximum of RMB20,000.\n\n\n\nSubsidies for venue construction\n\n\n\nThe Hengqin government\nalso provides an one-off award for investments linked to building or rescaling,\nwith the amount touted reaching 40 per cent of the cost of the project. \n\n\n\nAs much as RMB1 million\ncould be granted for the construction of a 1500-square-metre pavilion or a\n2500-square-metre hall for sporting purposes.\n\n\n\nOther supporting measures\n\n\n\nProfessional clubs can\nnow apply for a maximum of RMB10 million per year if they finish in the top\nfive of the national professional league.\n\n\n\nThose non-professional\nones could have the opportunity secure an annual maximum of RMB3 million if\nthey made it to the top three of the regional or city league. \n\n\n\nEach excellent teenage\nsportsman is also given the chance to earn a maximum of RMB500,000 per year.", "date_published": "July 03, 2024", "date_modified": "July 03, 2024 - 17:10", "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.jpg", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Hengqin has unveiled a new playbook for its sports development with Macau, with one-off incentives for competitive games ranging from RMB2 million to RMB8 million." }, { "id": "https://www.macaubusiness.com/hksar-govt-welcomes-issuance-of-card-type-document-to-non-chinese-hong-kong-permanent-residents/", "url": "https://www.macaubusiness.com/hksar-govt-welcomes-issuance-of-card-type-document-to-non-chinese-hong-kong-permanent-residents/", "title": "HKSAR gov\u2019t welcomes issuance of card-type document to non-Chinese Hong Kong permanent residents", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/668374bef3e8279bd1dfcb88_570x-150x150.jpg\")
\nThe Hong Kong Special Administrative Region (HKSAR) government on Monday welcomed and expressed gratitude to the country for announcing a new measure that will make it more convenient for non-Chinese permanent residents of Hong Kong to travel to the Chinese mainland.
\n\n\n\nStarting July 10, non-Chinese Hong Kong permanent residents will be eligible to apply for a card-type document to enter the mainland, according to the National Immigration Administration. The move is expected to enhance convenience of clearance at control points of the mainland, facilitating the residents’ visit to the mainland for business, traveling and visiting relatives, the HKSAR government said in a statement.
\n\n\n\nHKSAR Chief Executive John Lee said that at the important moment when Hong Kong residents celebrate Hong Kong’s return to the motherland, he is grateful for the central government for introducing the measure in support of Hong Kong again, which demonstrated the country’s care and support for the HKSAR all along.
\n\n\n\nUnder the new measure, individuals holding the card will be able to enjoy self-service clearance at control points of the mainland, significantly enhancing clearance efficiency, he said.
\n\n\n\nThis measure is not limited to any nationality or industry, which fully highlights Hong Kong’s unique status under “one country, two systems” and greatly helps Hong Kong maintain its international character and diversity, thereby providing a significant incentive for companies and talent from around the world to settle in Hong Kong, he said.
\n", "content_text": "The Hong Kong Special Administrative Region (HKSAR) government on Monday welcomed and expressed gratitude to the country for announcing a new measure that will make it more convenient for non-Chinese permanent residents of Hong Kong to travel to the Chinese mainland.\n\n\n\nStarting July 10, non-Chinese Hong Kong permanent residents will be eligible to apply for a card-type document to enter the mainland, according to the National Immigration Administration. The move is expected to enhance convenience of clearance at control points of the mainland, facilitating the residents’ visit to the mainland for business, traveling and visiting relatives, the HKSAR government said in a statement.\n\n\n\nHKSAR Chief Executive John Lee said that at the important moment when Hong Kong residents celebrate Hong Kong’s return to the motherland, he is grateful for the central government for introducing the measure in support of Hong Kong again, which demonstrated the country’s care and support for the HKSAR all along.\n\n\n\nUnder the new measure, individuals holding the card will be able to enjoy self-service clearance at control points of the mainland, significantly enhancing clearance efficiency, he said.\n\n\n\nThis measure is not limited to any nationality or industry, which fully highlights Hong Kong’s unique status under “one country, two systems” and greatly helps Hong Kong maintain its international character and diversity, thereby providing a significant incentive for companies and talent from around the world to settle in Hong Kong, he said.", "date_published": "July 02, 2024", "date_modified": "July 02, 2024 - 12:39", "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/2024/07/668374bef3e8279bd1dfcb88_570x.jpg", "tags": [ "China", "Greater Bay", "MNA" ], "summary": "The Hong Kong Special Administrative Region (HKSAR) government on Monday welcomed and expressed gratitude to the country for announcing a new measure that will make it more convenient for non-Chinese permanent residents of Hong Kong to travel to the Chinese mainland." }, { "id": "https://www.macaubusiness.com/foreign-chambers-applaud-travel-permit-decision-for-sars/", "url": "https://www.macaubusiness.com/foreign-chambers-applaud-travel-permit-decision-for-sars/", "title": "Foreign chambers applaud travel permit decision for SARs", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/5888208310e1f73a63e2c2545d9e12f0-150x150.jpeg\")
\nForeign business groups have welcomed Beijing\u2019s recent decision to grant Hong Kong and Macau\u2019s non-Chinese permanent residents multi-entry travel permits, saying the new policy could encourage travel to the Greater Bay Area (GBA).
\n\n\n\nWhile calling it \u201cgood news for the development of Hengqin and the GBA\u201d, Keith Buckley, chairman of the British Chamber of Commerce in Macao, thinks the economic benefits of the new initiative are limited.
\n\n\n\n\u201cIt is a very good initiative, but it may not have a big economic impact, as many permanent ID card holders are probably not businessmen,\u201d he told Macau News Agency.
\n\n\n\nMoreover, Buckley believes the initiative could further impact the small and medium-sized scene in Macau.
\n\n\n\n\u201cOn the downside, it may further affect the F&B and retail business in Macao, as obstacles to travel freely across the border are reduced,\u201d he added.
\n\n\n\nRutger Verschuren, who heads the France Macau Chamber of Commerce, says the initiative caters to those looking to participate in the forthcoming events in Zhuhai or Hengqin, and those who have partners on the Chinese mainland.
\n\n\n\n\u201cSometimes their partners on the mainland cannot easily come to Macau, and this is a hurdle to us being non-Chinese permanent residents,\u201d he said.
\n\n\n\n\u201cAlso, our Chinese colleagues, coming from the mainland, don\u2019t need a visa, that\u2019s a big plus.\u201d
\n\n\n\nBilly Chan, chairman of the Australian Chamber of Commerce in Macau, has described the new announcement as \u201cexciting news\u201d.
\n\n\n\n\u201cThey\u2019ll be able to go back and forth to do their business, to visit friends, or to do academic exchanges.\u201d
\n\n\n\nCarlos Cid Alvares, president of the Macau delegation of the Portugal-China Chamber of Commerce and Industry, says he sees more positive cooperation forming between mainland China and Macau, calling the initiative a \u201cgreater incentive\u201d for opportunities to invest, travel, and increase business and exchanges on the mainland.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/pXakKvRlwNmfUvRCoMk9-150x150.jpeg\")
\nA joint operation by Macau, Hong Kong and mainland Chinese authorities has dismantled an illegal gambling syndicate, with 93 people arrested, including 11 key figures behind the racket.
\n\n\n\nAccording to the Judiciary Police, the operation resulted in the seizure of more than MOP8 million (US$1 million) in cash.
\n\n\n\nMore than half of those arrested were detained in Macau, with four of them allegedly running an illegal gambling den in northern Macau.
\n\n\n\nThe ring is believed to have been active since 2016, with no less than MOP1 billion involved.
\n\n\n\nThe two masterminds are locals, both aged 33, and the nine core members range from 29 to 47 in age.
\n\n\n\nAccording to the authorities, one of them works for the government as a customs officer and is now facing disciplinary action.
\n\n\n\nThe syndicate was discovered during a money laundering case in 2022. Four members were found to be involved in illicit gambling.
\n\n\n\nPolice investigators found that the group had used overseas servers for the online betting site they had set up, taking bets on football and basketball games.
\n\n\n\nHigher odds were touted to attract punters with the help of agents working around the clock, the authorities said.
\n\n\n\nThe arrests were made at a number of flats on the peninsula, Cotai and in Coloane.
\n\n\n\nMeanwhile, 42 mainland Chinese were arrested in Guangdong with illegal bets worth around RMB80 million.
\n", "content_text": "A joint operation by Macau, Hong Kong and mainland Chinese authorities has dismantled an illegal gambling syndicate, with 93 people arrested, including 11 key figures behind the racket. \n\n\n\nAccording to the Judiciary Police, the operation resulted in the seizure of more than MOP8 million (US$1 million) in cash.\n\n\n\nMore than half of those arrested were detained in Macau, with four of them allegedly running an illegal gambling den in northern Macau. \n\n\n\nThe ring is believed to have been active since 2016, with no less than MOP1 billion involved.\n\n\n\nThe two masterminds are locals, both aged 33, and the nine core members range from 29 to 47 in age. \n\n\n\nAccording to the authorities, one of them works for the government as a customs officer and is now facing disciplinary action. \n\n\n\nThe syndicate was discovered during a money laundering case in 2022. Four members were found to be involved in illicit gambling.\n\n\n\nPolice investigators found that the group had used overseas servers for the online betting site they had set up, taking bets on football and basketball games.\n\n\n\nHigher odds were touted to attract punters with the help of agents working around the clock, the authorities said.\n\n\n\nThe arrests were made at a number of flats on the peninsula, Cotai and in Coloane. \n\n\n\nMeanwhile, 42 mainland Chinese were arrested in Guangdong with illegal bets worth around RMB80 million.", "date_published": "July 01, 2024", "date_modified": "July 01, 2024 - 17:34", "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/pXakKvRlwNmfUvRCoMk9.jpeg", "tags": [ "Gaming", "Greater Bay", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/wanda-commercial-to-relocate-office-to-hengqin/", "url": "https://www.macaubusiness.com/wanda-commercial-to-relocate-office-to-hengqin/", "title": "Wanda Commercial to relocate office to Hengqin", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240701192328-150x150.png\")
\nChina’s largest commercial property developer, Dalian Wanda Commercial Management Group (Wanda Commercial), is reportedly set to move its office to the Guangdong-Macau In-Depth Cooperation Zone in Hengqin.
\n\n\n\nEmployees will relocate from Beijing to the Hengqin office, with the transition expected to be completed by mid-July, Chinese digital news outlet the Paper reported.
\n\n\n\nWanda Commercial is a key subsidiary of Dalian Wanda Group, a major Chinese conglomerate and one of the country’s largest private property developers.
\n\n\n\nPrevious reports from mainland media outlets had indicated that Wanda Group’s Beijing headquarters would be relocated to Zhuhai.
\n\n\n\nHowever, according to the anonymous sources cited in The Paper, the current move only involves the commercial property management division of the group, and the headquarters will remain in Beijing.
\n\n\n\nThe source also said that the decision to move to the new office at Hengqin International Business Centre was aimed at reducing operational costs.
\n\n\n\nIn April this year, Wanda sold its headquarters Beijing Wanda Plaza, to alleviate the company’s liquidity pressure.
\n\n\n\nThe group said that despite changes in shareholders at Beijing Wanda Plaza Industrial, Wanda’s employees continue to work from there.
\n\n\n\nSince 2023, Wanda Commercial has sold 14 malls and other assets, including its Sunseeker yacht business and its flagship Beijing Wanda Plaza.
\n\n\n\nIn June, rating agency Fitch Ratings reaffirmed Wanda Commercial’s Issuer Default Rating (IDR) of ‘cc’, which is at the same level as the consolidated profile of its 44 per cent parent, Dalian Wanda Group.
\n\n\n\nFitch Ratings indicated that both entities’ ratings are constrained by their tight liquidities. It stated that Zhuhai Wanda Commercial’s proposed new financing plan, along with other asset disposal arrangements, are expected to help Wanda Commercial address its short-term maturities.
\n\n\n\nHowever, these plans are subjected to execution risks.
\n", "content_text": "China’s largest commercial property developer, Dalian Wanda Commercial Management Group (Wanda Commercial), is reportedly set to move its office to the Guangdong-Macau In-Depth Cooperation Zone in Hengqin.\n\n\n\nEmployees will relocate from Beijing to the Hengqin office, with the transition expected to be completed by mid-July, Chinese digital news outlet the Paper reported.\n\n\n\nWanda Commercial is a key subsidiary of Dalian Wanda Group, a major Chinese conglomerate and one of the country’s largest private property developers.\n\n\n\nPrevious reports from mainland media outlets had indicated that Wanda Group’s Beijing headquarters would be relocated to Zhuhai. \n\n\n\nHowever, according to the anonymous sources cited in The Paper, the current move only involves the commercial property management division of the group, and the headquarters will remain in Beijing.\n\n\n\nThe source also said that the decision to move to the new office at Hengqin International Business Centre was aimed at reducing operational costs.\n\n\n\nIn April this year, Wanda sold its headquarters Beijing Wanda Plaza, to alleviate the company’s liquidity pressure.\n\n\n\nThe group said that despite changes in shareholders at Beijing Wanda Plaza Industrial, Wanda’s employees continue to work from there.\n\n\n\nSince 2023, Wanda Commercial has sold 14 malls and other assets, including its Sunseeker yacht business and its flagship Beijing Wanda Plaza.\n\n\n\nIn June, rating agency Fitch Ratings reaffirmed Wanda Commercial’s Issuer Default Rating (IDR) of ‘cc’, which is at the same level as the consolidated profile of its 44 per cent parent, Dalian Wanda Group. \n\n\n\nFitch Ratings indicated that both entities’ ratings are constrained by their tight liquidities. It stated that Zhuhai Wanda Commercial’s proposed new financing plan, along with other asset disposal arrangements, are expected to help Wanda Commercial address its short-term maturities.\n\n\n\nHowever, these plans are subjected to execution risks.", "date_published": "July 01, 2024", "date_modified": "July 02, 2024 - 01:57", "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_20240701192328.png", "tags": [ "China", "Greater Bay", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/entertainment-complex-to-rise-by-zhuhai-macau-border/", "url": "https://www.macaubusiness.com/entertainment-complex-to-rise-by-zhuhai-macau-border/", "title": "Entertainment complex to rise by Zhuhai-Macau border", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/9908537_0585a4da-cd29-4425-9e79-20b58b5eaa52-1-150x150.jpg\")
\nSeveral bustling streets in Zhuhai near the Border Gate have been earmarked for a facelift project to turn them into a hub for “cultural tourism, consumption and socialising”.
\n\n\n\nAccording to local media, a groundbreaking ceremony took place on Sunday, with the project being billed as one of the top 10 events of the year for Xiangzhou district.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/658539cab978e4755c3476f1-1-1028x462.jpeg\")
Zhengyuan Holding, a company responsible for the redevelopment, told the media that the project would cover a 580-metre stretch of streets and nearby alleys.
\n\n\n\nConstruction was originally due to start in March this year.
\n\n\n\nThe streets involved in the project were once home to street vendors, hairdressers’ and massage parlours, as well as casual eateries.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/658539cab978e4755c3476e8-1028x685.jpeg\")
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/02/Border-Gate-150x150.png\")
\nStarting from July 10, mainland authorities will begin issuing multiple-entry travel permits to non-Chinese permanent residents in the SARs, the Exit and Entry Administration of China announced on Monday morning.
\n\n\n\nAccording to the announcement, non-Chinese holders of permanent Macau and Hong Kong ID Cards can submit their applications to the China Travel Service agencies in the SARs and be issued a Mainland Travel Permit for Hong Kong and Macau Residents. The maximum stay for each visit is 90 days.
\n\n\n\nWith this certificate, in the format of a card, non-Chinese permanent residents will also be allowed to use the fast channel at the borders after completing fingerprint collection and other procedures.
\n\n\n\nThe permit is applicable to those traveling to mainland China for short-term purposes such as investment, visiting relatives, tourism, business, seminars, and exchanges. The announcement also noted that holders are not permitted to work, study, or engage in news coverage activities in mainland China with this permit.
\n\n\n\nThe measure announced today coincides with the 27th anniversary of the establishment of the Hong Kong Special Administrative Region. It aims to \u201cfurther promote personnel exchanges between mainland China, Hong Kong, and Macau, as well as facilitate the smooth development of activities such as trade, investment, cultural tourism, education, and research, and support the better integration of Hong Kong and Macau into the overall national development situation,\u201d mainland authorities stressed, as quoted by CCTV.
\n\n\n\nThe Macau SAR Government issued statement thanking the Central Government for the new policy, emphasising that it provides great encouragement to non-Chinese Macao permanent residents either to invest, visit relatives, travel, do business, or engage in discussions and exchanges on the mainland.
\n\n\n\n“This further promotes people-to-people exchanges, economic and trade exchanges, and mutually beneficial cooperation between the mainland and Macao. It also contributes positively for the construction of the Guangdong-Hong Kong-Macau Greater Bay Area and accelerates Macau\u2019s integration into the overall development of the country.”
\n", "content_text": "Starting from July 10, mainland authorities will begin issuing multiple-entry travel permits to non-Chinese permanent residents in the SARs, the Exit and Entry Administration of China announced on Monday morning.\n\n\n\nAccording to the announcement, non-Chinese holders of permanent Macau and Hong Kong ID Cards can submit their applications to the China Travel Service agencies in the SARs and be issued a Mainland Travel Permit for Hong Kong and Macau Residents. The maximum stay for each visit is 90 days.\n\n\n\nWith this certificate, in the format of a card, non-Chinese permanent residents will also be allowed to use the fast channel at the borders after completing fingerprint collection and other procedures.\n\n\n\nThe permit is applicable to those traveling to mainland China for short-term purposes such as investment, visiting relatives, tourism, business, seminars, and exchanges. The announcement also noted that holders are not permitted to work, study, or engage in news coverage activities in mainland China with this permit.\n\n\n\nThe measure announced today coincides with the 27th anniversary of the establishment of the Hong Kong Special Administrative Region. It aims to \u201cfurther promote personnel exchanges between mainland China, Hong Kong, and Macau, as well as facilitate the smooth development of activities such as trade, investment, cultural tourism, education, and research, and support the better integration of Hong Kong and Macau into the overall national development situation,\u201d mainland authorities stressed, as quoted by CCTV.\n\n\n\nThe Macau SAR Government issued statement thanking the Central Government for the new policy, emphasising that it provides great encouragement to non-Chinese Macao permanent residents either to invest, visit relatives, travel, do business, or engage in discussions and exchanges on the mainland.\n\n\n\n“This further promotes people-to-people exchanges, economic and trade exchanges, and mutually beneficial cooperation between the mainland and Macao. It also contributes positively for the construction of the Guangdong-Hong Kong-Macau Greater Bay Area and accelerates Macau\u2019s integration into the overall development of the country.”", "date_published": "July 01, 2024", "date_modified": "July 01, 2024 - 11:24", "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/2024/02/Border-Gate.png", "tags": [ "China", "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Starting from July 10, mainland authorities will begin issuing multiple-entry travel permits to non-Chinese permanent residents in the SARs, the Exit and Entry Administration of China announced on Monday morning." }, { "id": "https://www.macaubusiness.com/xi-sends-congratulatory-letter-on-opening-of-shenzhen-zhongshan-cross-sea-passage/", "url": "https://www.macaubusiness.com/xi-sends-congratulatory-letter-on-opening-of-shenzhen-zhongshan-cross-sea-passage/", "title": "Xi sends congratulatory letter on opening of Shenzhen-Zhongshan cross-sea passage", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/6681161cf3e8279bd1dea47c_570x-150x150.jpeg\")
\nChinese President Xi Jinping on Sunday sent a congratulatory letter as a cross-sea passage opened, linking the cities of Shenzhen and Zhongshan in southern China’s Guangdong Province.
\n\n\n\nXi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, said the Shenzhen-Zhongshan Link is another large-scale transportation project in the Guangdong-Hong Kong-Macao Greater Bay Area following the Hong Kong-Zhuhai-Macao Bridge. The project managed to overcome multiple world-class technical challenges and set multiple world records.
\n\n\n\nAll participants, through their hard work and unwavering determination, have successfully completed the project with high quality, Xi said.
\n\n\n\n“This fully illustrates that Chinese modernization can only be achieved through solid work, as all great causes are accomplished through concrete actions,” he said.
\n", "content_text": "Chinese President Xi Jinping on Sunday sent a congratulatory letter as a cross-sea passage opened, linking the cities of Shenzhen and Zhongshan in southern China’s Guangdong Province.\n\n\n\nXi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, said the Shenzhen-Zhongshan Link is another large-scale transportation project in the Guangdong-Hong Kong-Macao Greater Bay Area following the Hong Kong-Zhuhai-Macao Bridge. The project managed to overcome multiple world-class technical challenges and set multiple world records.\n\n\n\nAll participants, through their hard work and unwavering determination, have successfully completed the project with high quality, Xi said.\n\n\n\n“This fully illustrates that Chinese modernization can only be achieved through solid work, as all great causes are accomplished through concrete actions,” he said.", "date_published": "June 30, 2024", "date_modified": "June 30, 2024 - 17:23", "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/2024/06/6681161cf3e8279bd1dea47c_570x.jpeg", "tags": [ "China", "Greater Bay", "MNA" ], "summary": "Chinese President Xi Jinping on Sunday sent a congratulatory letter as a cross-sea passage opened, linking the cities of Shenzhen and Zhongshan in southern China's Guangdong Province." }, { "id": "https://www.macaubusiness.com/shenzhen-zhongshan-bridge-opens-this-sunday/", "url": "https://www.macaubusiness.com/shenzhen-zhongshan-bridge-opens-this-sunday/", "title": "Shenzhen-Zhongshan Bridge opens", "content_html": "\nThe Shenzhen-Zhongshan Link, a new cross-sea passage linking the eastern and western banks of the Pearl River estuary, has opened for trial operations today at 3 PM. The two-hour commute from Shenzhen to Zhongshan will be reduced to 30 minutes.
\n\n\n\nThe Shenzhen-Zhongshan Link is an amalgamation of bridges, islands, tunnels, and underwater interchanges.
\n\n\n\nThe Shenzhen-Zhongshan Link will significantly reduce travel times. The link is connected to major expressways such as the Guangzhou-Shenzhen Expressway, the Jihe Expressway, and the Guangzhou-Shenzhen Coastal Expressway in the east, and the Zhongshan-Kaiping Expressway, the Guangzhou-Macau Expressway, and the Zhongshan Eastern Outer Ring Expressway in the west.
\n\n\n\nIt also interfaces with the Nansha-Zhongshan Expressway (currently under construction) and the Nansha Port Expressway.
\n\n\n\nThe link will charge a toll fee of 66 yuan per standard vehicle for the entire 24 kilometre-long route.
\n\n\n\nPresident Xi Jinping sent a congratulatory letter, expressing warm congratulations and extending sincere greetings to all those involved in the planning and construction.
\n\n\n\nXi Jinping pointed out that the Shenzhen-Zhongshan Link is another super-large transportation project built in the Guangdong-Hong Kong-Macau Greater Bay Area after the Hong Kong-Zhuhai-Macau Bridge.
\n\n\n\nXi Jinping stressed that the next step is to manage and use the Shenzhen-Zhongshan Link well, ensure safe, smooth, comfortable and intelligent operation, give full play to its role as a pioneer in transportation, promote the integrated development of the east and west banks of the Pearl River Estuary, improve the “hard connectivity” of infrastructure and the “soft connectivity” of rules and mechanisms in the Greater Bay Area and promote market integration in the GBA.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240628185007-150x150.png\")
\nSome of Macau New\nNeighbourhood (MNN) apartments have been earmarked for accommodation purposes\nfor University of Macau postgraduate students in an apparent move to lift the\nresidency rate of the compound amidst sluggish sales.
\n\n\n\nIn a recent email to\nstudents reviewed by Macau News Agency, UM announced that the new accommodation\nfor postgraduate students would be located within the MNN project.
\n\n\n\nStudents will have to\npay between MOP13,300 (US$1,653) and MOP14,950 per semester for single rooms,\nwhile those opting for double rooms will have to pay between MOP7,900 and\nMOP9,600 per semester.
\n\n\n\nFrom the first semester\nof the 2024/2025 academic year, which normally starts in August, students whose\nprogrammes are offered on the new campus will be accommodated in the new\npostgraduate residences in MNN.
\n\n\n\nEarlier this year, UM rector Song Yonghua revealed plans for an additional campus on the Hengqin island, which will be half the size of the current one.
\n\n\n\nThe facility will offer\na range of programmes, including medicine, new engineering, microelectronics, artificial\nintelligence, robotics and quantitative business analysis.
\n\n\n\nThis information has\nsparked widespread debate on social media, with many questioning whether MNN is\nstill living up to its promise as a “livelihood project built for Macau\nresidents”.
\n\n\n\nMacau News Agency (MNA)\ncontacted the developer of MNN, Macau Urban Renewal Limited (MUR), for comment\non the matter.
\n\n\n\nSales of about 4,000\nflats in MNN began at the end of November 2023 and were exclusively available\nto Macau ID holders. However, as of June 2024, only about 30 percent of the\ninventory had been sold.
\n\n\n\nTo further encourage purchases, ownership restrictions on the development in neighbouring Hengqin were lifted last month.
\n\n\n\nA real estate agent from Centaline Property told MNA that despite extensive online advertising, apartments in MNN had yet to attract significant attention from potential tenants.
\n", "content_text": "Some of Macau New\nNeighbourhood (MNN) apartments have been earmarked for accommodation purposes\nfor University of Macau postgraduate students in an apparent move to lift the\nresidency rate of the compound amidst sluggish sales.\n\n\n\nIn a recent email to\nstudents reviewed by Macau News Agency, UM announced that the new accommodation\nfor postgraduate students would be located within the MNN project.\n\n\n\nStudents will have to\npay between MOP13,300 (US$1,653) and MOP14,950 per semester for single rooms,\nwhile those opting for double rooms will have to pay between MOP7,900 and\nMOP9,600 per semester.\n\n\n\nFrom the first semester\nof the 2024/2025 academic year, which normally starts in August, students whose\nprogrammes are offered on the new campus will be accommodated in the new\npostgraduate residences in MNN.\n\n\n\nEarlier this year, UM rector Song Yonghua revealed plans for an additional campus on the Hengqin island, which will be half the size of the current one.\n\n\n\nThe facility will offer\na range of programmes, including medicine, new engineering, microelectronics, artificial\nintelligence, robotics and quantitative business analysis.\n\n\n\nThis information has\nsparked widespread debate on social media, with many questioning whether MNN is\nstill living up to its promise as a “livelihood project built for Macau\nresidents”.\n\n\n\nMacau News Agency (MNA)\ncontacted the developer of MNN, Macau Urban Renewal Limited (MUR), for comment\non the matter.\n\n\n\nSales of about 4,000\nflats in MNN began at the end of November 2023 and were exclusively available\nto Macau ID holders. However, as of June 2024, only about 30 percent of the\ninventory had been sold.\n\n\n\nTo further encourage purchases, ownership restrictions on the development in neighbouring Hengqin were lifted last month.\n\n\n\nA real estate agent from Centaline Property told MNA that despite extensive online advertising, apartments in MNN had yet to attract significant attention from potential tenants.", "date_published": "June 28, 2024", "date_modified": "June 28, 2024 - 19:07", "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/2024/06/Weixin-Image_20240628185007.png", "tags": [ "Greater Bay", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/beijing-ups-new-duty-free-limit-for-sars/", "url": "https://www.macaubusiness.com/beijing-ups-new-duty-free-limit-for-sars/", "title": "Beijing ups new duty-free limit for SARs", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240628115346-150x150.jpg\")
\nBeijing has announced new duty-free allowance rules for arrivals from Hong Kong and Macau, allowing a maximum of RMB12,000 (MOP13,287/ US$1,651) worth of goods to be exempt from customs duties.
\n\n\n\nThe existing mechanism, introduced in August 1996, only permits RMB5,000 at most. Besides, goods from duty-free shops enjoy an allowance of RMB3,000.
\n\n\n\nHowever, according to the latest announcement, made on Friday, the new duty-free allowance rules state that travellers aged 18 or over, residents and visitors alike, will now be allowed a maximum of RMB15,000, including both duty-free goods and their personal belongings.
\n\n\n\nThe new policy also applies to those travelling from the Hengqin island, which enjoys an autonomous customs regime.
\n\n\n\nAll the new rules are due to come into effect on 1 July this year at six entry points: Luohu, Futian, Shenzhen Bay, the West Kowloon station of the Guangzhou-Shenzhen-Hong Kong high-speed railway, Gongbei and the Zhuhai end of the Hong Kong-Zhuhai-Macau Bridge.
\n\n\n\nThe authorities say they will enforce the new policy at all entry points from 1 August.
\n\n\n\nIn response to new rules, the Macau Government Tourism Office says in a statement that they believe that the new rules will increase spending in Macau by mainland Chinese travellers.
\n\n\n\nChief Executive Ho Iat Seng stressed that these measures reflects the great importance the Central Government attaches to Macau.
\n\n\n\nThe increase in the duty-free allowance will help promote the growth of tourism consumption in Macau and promote the community\u2019s economy, benefit small and medium-sized enterprises, including the retail industry, and help the overall economic development of the MSAR to move forward steadily, Ho adde as quoted in statement by the Government Information Bureau.
\n\n\n\n\n\n\n\n\n", "content_text": "Beijing has announced new duty-free allowance rules for arrivals from Hong Kong and Macau, allowing a maximum of RMB12,000 (MOP13,287/ US$1,651) worth of goods to be exempt from customs duties.\n\n\n\nThe existing mechanism, introduced in August 1996, only permits RMB5,000 at most. Besides, goods from duty-free shops enjoy an allowance of RMB3,000. \n\n\n\nHowever, according to the latest announcement, made on Friday, the new duty-free allowance rules state that travellers aged 18 or over, residents and visitors alike, will now be allowed a maximum of RMB15,000, including both duty-free goods and their personal belongings.\n\n\n\nThe new policy also applies to those travelling from the Hengqin island, which enjoys an autonomous customs regime.\n\n\n\nAll the new rules are due to come into effect on 1 July this year at six entry points: Luohu, Futian, Shenzhen Bay, the West Kowloon station of the Guangzhou-Shenzhen-Hong Kong high-speed railway, Gongbei and the Zhuhai end of the Hong Kong-Zhuhai-Macau Bridge.\n\n\n\nThe authorities say they will enforce the new policy at all entry points from 1 August.\n\n\n\nIn response to new rules, the Macau Government Tourism Office says in a statement that they believe that the new rules will increase spending in Macau by mainland Chinese travellers. \n\n\n\nChief Executive Ho Iat Seng stressed that these measures reflects the great importance the Central Government attaches to Macau. \n\n\n\n The increase in the duty-free allowance will help promote the growth of tourism consumption in Macau and promote the community\u2019s economy, benefit small and medium-sized enterprises, including the retail industry, and help the overall economic development of the MSAR to move forward steadily, Ho adde as quoted in statement by the Government Information Bureau.", "date_published": "June 28, 2024", "date_modified": "June 29, 2024 - 00:42", "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/2024/06/Weixin-Image_20240628115346.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Beijing has announced new duty-free allowance rules for arrivals from Hong Kong and Macau, allowing a maximum of RMB12,000 (MOP13,287/ US$1,651) worth of goods to be exempt from customs duties." }, { "id": "https://www.macaubusiness.com/fidelidade-macau-at-25-ready-to-embrace-future-hengqin-gba-opportunities-management/", "url": "https://www.macaubusiness.com/fidelidade-macau-at-25-ready-to-embrace-future-hengqin-gba-opportunities-management/", "title": "Fidelidade Macau at 25 ready to embrace future Hengqin, GBA opportunities \u2013 Management", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Fidelidade-Macau-25-anos-150x150.jpeg\")
\nInsurer Fidelidade Macau is closely monitoring potential business opportunities in Hengqin and the Greater Bay Area as it celebrates its 25th anniversary, the company told MNA on Friday.
\n\n\n\n\u201cFidelidade Macau is now more than ever ready to seize future opportunities, not only in Macau but also in the Greater Bay Area,\u201d said Andr\u00e9 Sim\u00f5es Cardoso, chairman of Fidelidade Macau\u2019s Board of Directors.
\n\n\n\nTo take steps in the neighbouring In-depth Cooperation Zone and other GBA cities, there needs to be a suitable regulatory environment and flexibility to develop products and services that meet the market\u2019s needs, he added.
\n\n\n\n\u201cShould we have that window of opportunity (to enter the GBA market), we have the willingness and the company is ready in terms of capital, team members, and platforms,\u201d Mr. Cardoso noted, adding that he hopes to see the necessary regulatory framework take shape across the border.
\n\n\n\nFidelidade Macau CEO Paulo Barbosa also emphasized the company\u2019s financial strength and willingness to expand to Hengqin and beyond. \u201cThe company has sufficient capital to initiate an expansion project. We are now waiting for both Macau and mainland authorities to allow us to expand our business activities to other areas, hopefully in the short term to Hengqin and in the longer term to the wider GBA market.\u201d
\n\n\n\nThe local market itself has become more competitive with increasingly demanding customers. Fidelidade Macau Executive Director Ivan Cheung noted, \u201cMacau citizens are more knowledgeable about insurance. We need to create more innovative products to make breakthroughs.\u201d
\n\n\n\nOperating in Macau since 1999, Fidelidade Macau, which provides life and non-life insurance products, is owned by Portugal\u2019s insurance group Fidelidade. Chinese private multinational conglomerate Fosun International is the group\u2019s main shareholder with about an 85 percent stake, while the remaining 15 percent is held by Portuguese state-owned bank Caixa Geral de Dep\u00f3sitos.
\n\n\n\nIn 2023, the group saw robust growth in its Gross Written Premiums (GWPs) in both the life and non-life segments, with 15.8 percent and 27.3 percent expansions compared to 2022.
\n\n\n\nThe CEO of parent company Fidelidade, Rog\u00e9rio Campos Henriques, said the group \u201cremains fully committed to Macau and the SAR\u2019s development,\u201d as he praised the \u201cgood results and success,\u201d and highlighted the decision last year by US financial rating agency Fitch to upgrade Fidelidade Macau\u2019s Insurer Financial Strength (IFS) rating to \u2018A\u2019 (Strong) from \u2018A-\u2019 (Strong) with a Stable Outlook.
\n\n\n\nThese comments were made during a cocktail reception held on Friday in the SAR to celebrate the 25th anniversary of Fidelidade Macau.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/03/XinhuaLi-He-CPPCC-Beijing-150x150.jpg\")
\nChina’s top political advisory body held a virtual consultation session on Friday to discuss the roles of Hong Kong and Macau in China’s development of new systems for a higher-standard open economy.
\n\n\n\nThe meeting of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) was chaired by Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the CPPCC National Committee.
\n\n\n\nWang emphasised the importance of focusing research on key issues related to the roles of Hong Kong and Macau in China’s development of new systems for a higher-standard open economy.
\n\n\n\nHe called for actionable and targeted policy recommendations to support the implementation of national policies that aid the development of Hong Kong and Macau.
\n\n\n\nTwelve members of the CPPCC National Committee delivered remarks from Beijing, Fujian, Hong Kong, Macau, and other locations via video link.
\n\n\n\nThey proposed enhancing the coordination of economic regulations and mechanisms across Guangdong, Hong Kong, and Macau to facilitate the efficient flow of people, goods, capital, and data, thereby improving market integration.
\n\n\n\nRecommendations included consolidating Hong Kong’s status as an international financial, shipping, and trade centre, leveraging Macau’s unique advantages as a platform for cooperation between China and Portuguese-speaking countries, and expanding smooth and convenient international connections.
\n\n\n\nOfficials from relevant departments provided information and engaged in discussions with national political advisors.
\n\n\n\n\n", "content_text": "China’s top political advisory body held a virtual consultation session on Friday to discuss the roles of Hong Kong and Macau in China’s development of new systems for a higher-standard open economy.\n\n\n\nThe meeting of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) was chaired by Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the CPPCC National Committee.\n\n\n\nWang emphasised the importance of focusing research on key issues related to the roles of Hong Kong and Macau in China’s development of new systems for a higher-standard open economy.\n\n\n\nHe called for actionable and targeted policy recommendations to support the implementation of national policies that aid the development of Hong Kong and Macau.\n\n\n\nTwelve members of the CPPCC National Committee delivered remarks from Beijing, Fujian, Hong Kong, Macau, and other locations via video link.\n\n\n\nThey proposed enhancing the coordination of economic regulations and mechanisms across Guangdong, Hong Kong, and Macau to facilitate the efficient flow of people, goods, capital, and data, thereby improving market integration.\n\n\n\nRecommendations included consolidating Hong Kong’s status as an international financial, shipping, and trade centre, leveraging Macau’s unique advantages as a platform for cooperation between China and Portuguese-speaking countries, and expanding smooth and convenient international connections.\n\n\n\nOfficials from relevant departments provided information and engaged in discussions with national political advisors.", "date_published": "June 28, 2024", "date_modified": "June 29, 2024 - 00:45", "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/2024/03/XinhuaLi-He-CPPCC-Beijing.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA" ], "summary": "China's top political advisory body held a virtual consultation session on Friday to discuss the roles of Hong Kong and Macau in China's development of new systems for a higher-standard open economy." }, { "id": "https://www.macaubusiness.com/macau-to-host-five-events-under-15th-national-games/", "url": "https://www.macaubusiness.com/macau-to-host-five-events-under-15th-national-games/", "title": "Macau to host five events under 15th National Games", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Untitled-3-150x150.jpg\")
\nMacau will host table tennis, women’s senior volleyball, 3X3 basketball, karate, and under-18 men’s basketball games at the 15th National Games next year.
\n\n\n\nThe executive committee of the event provided an update on Thursday, revealing that the 15th National Games will consist of 34 major events and 401 minor events.
\n\n\n\nGuangzhou will serve as the host for 136 events, accounting for approximately 34 per cent of the total, while Shenzhen will host 82 events, making up around 20 per cent.
\n\n\n\nNeighboring Zhuhai will witness the unfolding of track and field, road cycling, and tennis competitions.
\n\n\n\nHong Kong has been designated as the host for various competitions, including men’s basketball for under-22s, track cycling, fencing, golf, men’s handball, rugby sevens, triathlon, beach volleyball, and bowling.
\n\n\n\nGuangdong, the host province, will provide a total of 78 venues for the games, consisting of 12 provincial-level venues and 66 municipal-level venues.
\n\n\n\nThe organizer has stated that over 90 per cent of these venues will be repurposed from existing facilities. Of the 34 venues for the Paralympic Games, 21 will be shared with the 15th Games.
\n\n\n\nIt is anticipated that the majority of the venues will be completed by the end of 2024, with all venue refurbishments and constructions expected to conclude by the end of March 2025.
\n", "content_text": "Macau will host table tennis, women’s senior volleyball, 3X3 basketball, karate, and under-18 men’s basketball games at the 15th National Games next year.\n\n\n\nThe executive committee of the event provided an update on Thursday, revealing that the 15th National Games will consist of 34 major events and 401 minor events. \n\n\n\nGuangzhou will serve as the host for 136 events, accounting for approximately 34 per cent of the total, while Shenzhen will host 82 events, making up around 20 per cent.\n\n\n\nNeighboring Zhuhai will witness the unfolding of track and field, road cycling, and tennis competitions.\n\n\n\nHong Kong has been designated as the host for various competitions, including men’s basketball for under-22s, track cycling, fencing, golf, men’s handball, rugby sevens, triathlon, beach volleyball, and bowling.\n\n\n\nGuangdong, the host province, will provide a total of 78 venues for the games, consisting of 12 provincial-level venues and 66 municipal-level venues. \n\n\n\nThe organizer has stated that over 90 per cent of these venues will be repurposed from existing facilities. Of the 34 venues for the Paralympic Games, 21 will be shared with the 15th Games.\n\n\n\nIt is anticipated that the majority of the venues will be completed by the end of 2024, with all venue refurbishments and constructions expected to conclude by the end of March 2025.", "date_published": "June 27, 2024", "date_modified": "June 27, 2024 - 20:36", "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/2024/06/Untitled-3.jpg", "tags": [ "Greater Bay", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/direct-passenger-flight-links-chinas-guangzhou-with-budapest/", "url": "https://www.macaubusiness.com/direct-passenger-flight-links-chinas-guangzhou-with-budapest/", "title": "Direct passenger flight links China\u2019s", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Baiyun-Airport-Guangzhou-Airport1-150x150.jpg\")
\nA new direct air route linking Guangzhou, the capital of south China’s Guangdong Province, with Budapest in Hungary, was launched on Thursday.
\n\n\n\nThe inaugural flight, CZ649, departed Guangzhou at approximately 1 a.m., carrying over 200 passengers, marking the first direct flight between the Guangdong-Hong Kong-Macao Greater Bay Area and Hungary.
\n\n\n\nOperated by China Southern Airlines, the new air service utilizes a Boeing aircraft, with flights scheduled four times a week on Tuesdays, Thursdays, Saturdays, and Sundays. The journey between Guangzhou and Budapest takes about 12 hours.
\n\n\n\nHan Wensheng, general manager of China Southern Airlines, said the new route will significantly enhance economic and trade relations, tourism cooperation, and cultural exchanges between China and Hungary.
\n\n\n\nChina is witnessing a resurgence of inbound tourism this year faster than expected.
\n\n\n\nThe country will expand its visa-free transit policy to include more countries and increase inbound flights from major passenger source countries to optimize its entry and exit measures, according to a circular unveiled on Monday by China’s top economic planner.
\n", "content_text": "A new direct air route linking Guangzhou, the capital of south China’s Guangdong Province, with Budapest in Hungary, was launched on Thursday.\n\n\n\nThe inaugural flight, CZ649, departed Guangzhou at approximately 1 a.m., carrying over 200 passengers, marking the first direct flight between the Guangdong-Hong Kong-Macao Greater Bay Area and Hungary.\n\n\n\nOperated by China Southern Airlines, the new air service utilizes a Boeing aircraft, with flights scheduled four times a week on Tuesdays, Thursdays, Saturdays, and Sundays. The journey between Guangzhou and Budapest takes about 12 hours.\n\n\n\nHan Wensheng, general manager of China Southern Airlines, said the new route will significantly enhance economic and trade relations, tourism cooperation, and cultural exchanges between China and Hungary.\n\n\n\nChina is witnessing a resurgence of inbound tourism this year faster than expected.\n\n\n\nThe country will expand its visa-free transit policy to include more countries and increase inbound flights from major passenger source countries to optimize its entry and exit measures, according to a circular unveiled on Monday by China’s top economic planner.", "date_published": "June 27, 2024", "date_modified": "June 28, 2024 - 01:17", "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/2024/06/Baiyun-Airport-Guangzhou-Airport1.jpg", "tags": [ "China", "Greater Bay", "International", "MNA" ], "summary": "A new direct air route linking Guangzhou, the capital of south China's Guangdong Province, with Budapest in Hungary, was launched on Thursday." }, { "id": "https://www.macaubusiness.com/influx-of-intl-schools-in-gba-means-need-for-inclusive-learning-austcham-speakers/", "url": "https://www.macaubusiness.com/influx-of-intl-schools-in-gba-means-need-for-inclusive-learning-austcham-speakers/", "title": "Influx of int\u2019l schools in GBA means need for inclusive learning: Austcham speakers", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/d16602d9-6ab8-4894-b354-15bd84d97042-1-150x150.jpeg\")
\nThe Greater Bay Area is expected to welcome the establishment of more international schools and a diverse student community, insiders from the education sectors of Macau and Hengqin indicated on Wednesday.
\n\n\n\nOn the sidelines of the latest session of the Power Hour talk series conducted by the Australian Chamber of Commerce in Macau (AustCham Macau), the guest speakers expressed their hope for creating an inclusive and innovative education environment in Macau and the Greater Bay Area.
\n\n\n\nKirsty Lowery, deputy head of Harrow Li De School Hengqin, told Macau News Agency(MNA) that the anticipated influx of international and British schools into the region would cultivate a healthy competitive atmosphere in the education sector.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/588ba821d43d57ca36dbc42f6c95be4e-1028x771.jpeg\")
She explained that the heightened competition resulting from the expansion of international schools would drive improvements in the sector, as schools \u2018have to strive to be excellent\u2019.
\n\n\n\n\u201cIt’s an area that is developing, the Chinese government is promoting the development of the Greater Bay Area, and they really value education,\u201d she added.
\n\n\n\nMeanwhile, the deputy head emphasised that as more students from Macau, Hong Kong and the northern part of China are relocating to Hengqin, teachers must adapt their educational strategies to cater to the diverse student population.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/b0418439fa08f853779ead11b77d6525-1028x771.jpeg\")
Another guest speaker at the event, Nair Cardoso, Director of Saint Joseph International Nursery, shared her perspective with MNA, stressing the need for innovation in kindergartens and early childhood education institutions in Macau to enhance language skills and foster creativity among students.
\n\n\n\nMs. Cardoso also noted that the influx of students, particularly in the tourism field, would increase, necessitating an elevated education system that meets their specific needs.
\n\n\n\n\u201cI think Macau is a multicultural city, we are in a very multicultural place. We need to be more open, more flexible to accept people from different races, different religions, and different culture,\u201d she said.
\n", "content_text": "The Greater Bay Area is expected to welcome the establishment of more international schools and a diverse student community, insiders from the education sectors of Macau and Hengqin indicated on Wednesday.\n\n\n\nOn the sidelines of the latest session of the Power Hour talk series conducted by the Australian Chamber of Commerce in Macau (AustCham Macau), the guest speakers expressed their hope for creating an inclusive and innovative education environment in Macau and the Greater Bay Area.\n\n\n\nKirsty Lowery, deputy head of Harrow Li De School Hengqin, told Macau News Agency(MNA) that the anticipated influx of international and British schools into the region would cultivate a healthy competitive atmosphere in the education sector.\n\n\n\n\n\n\n\nShe explained that the heightened competition resulting from the expansion of international schools would drive improvements in the sector, as schools \u2018have to strive to be excellent\u2019.\n\n\n\n\u201cIt’s an area that is developing, the Chinese government is promoting the development of the Greater Bay Area, and they really value education,\u201d she added.\n\n\n\nMeanwhile, the deputy head emphasised that as more students from Macau, Hong Kong and the northern part of China are relocating to Hengqin, teachers must adapt their educational strategies to cater to the diverse student population.\n\n\n\n\n\n\n\nAnother guest speaker at the event, Nair Cardoso, Director of Saint Joseph International Nursery, shared her perspective with MNA, stressing the need for innovation in kindergartens and early childhood education institutions in Macau to enhance language skills and foster creativity among students.\n\n\n\nMs. Cardoso also noted that the influx of students, particularly in the tourism field, would increase, necessitating an elevated education system that meets their specific needs.\n\n\n\n\u201cI think Macau is a multicultural city, we are in a very multicultural place. We need to be more open, more flexible to accept people from different races, different religions, and different culture,\u201d she said.", "date_published": "June 26, 2024", "date_modified": "June 27, 2024 - 02:49", "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/2024/06/d16602d9-6ab8-4894-b354-15bd84d97042-1.jpeg", "tags": [ "Greater Bay", "International", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/hong-kong-disneylands-q1-profit-hits-record/", "url": "https://www.macaubusiness.com/hong-kong-disneylands-q1-profit-hits-record/", "title": "Hong Kong Disneyland\u2019s Q1 profit hits record", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/11/ChkhgeE007004_20231117_CBMFN0A004-150x150.jpg\")
\nHong Kong Disneyland Resort on Tuesday reported improved earnings in the fiscal year of 2023, while its revenue and profit hit new records in the first quarter (Q1) of this year.
\n\n\n\nRevenue in the fiscal 2023 running from October 2022 to the end of September 2023 climbed 156 percent year on year to 5.7 billion Hong Kong dollars (about 730 million U.S. dollars), while total loss narrowed to 356 million Hong Kong dollars, according to the resort’s earnings report.
\n\n\n\nIn the calendar year 2023 alone, the resort achieved profitability buoyed by the opening of the world’s first “Frozen”-themed land in November, said Michael Moriarty, managing director of Hong Kong Disneyland Resort.
\n\n\n\n“The strong momentum continues. The first quarter of 2024 was our most successful quarter ever, achieving record levels of revenue and net income,” Moriarty said.
\n\n\n\nThe resort will celebrate its 20th anniversary in 2025. It will keep investing in facilities and signature offerings tailored to the anticipation of visitors, according to Moriarty.
\n", "content_text": "Hong Kong Disneyland Resort on Tuesday reported improved earnings in the fiscal year of 2023, while its revenue and profit hit new records in the first quarter (Q1) of this year.\n\n\n\nRevenue in the fiscal 2023 running from October 2022 to the end of September 2023 climbed 156 percent year on year to 5.7 billion Hong Kong dollars (about 730 million U.S. dollars), while total loss narrowed to 356 million Hong Kong dollars, according to the resort’s earnings report.\n\n\n\nIn the calendar year 2023 alone, the resort achieved profitability buoyed by the opening of the world’s first “Frozen”-themed land in November, said Michael Moriarty, managing director of Hong Kong Disneyland Resort.\n\n\n\n“The strong momentum continues. The first quarter of 2024 was our most successful quarter ever, achieving record levels of revenue and net income,” Moriarty said.\n\n\n\nThe resort will celebrate its 20th anniversary in 2025. It will keep investing in facilities and signature offerings tailored to the anticipation of visitors, according to Moriarty.", "date_published": "June 26, 2024", "date_modified": "June 26, 2024 - 11:48", "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/2023/11/ChkhgeE007004_20231117_CBMFN0A004.jpg", "tags": [ "Greater Bay", "Macau", "MNA" ], "summary": "Hong Kong Disneyland Resort reported improved earnings in the fiscal year of 2023, while its revenue and profit hit new records in the first quarter (Q1) " }, { "id": "https://www.macaubusiness.com/unconventional-love-letters-attract-young-people-to-traditional-chinese-art/", "url": "https://www.macaubusiness.com/unconventional-love-letters-attract-young-people-to-traditional-chinese-art/", "title": "Unconventional \u201clove letters\u201d attract young people to traditional Chinese art", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/ChkhgeE007004_20240624_CBMFN0A001-150x150.jpg\")
\nWhat does a love letter entail? For Mak Wing-man, curator of the Xubaizhai collection, it is not confined to the romantic feelings between a couple, but also filial piety, affinity among family members, as well as respect and affection between teachers and students.
\n\n\n\nWith “love letters” as the theme, an exhibition featuring ancient Chinese paintings and calligraphy works at the Hong Kong Museum of Art (HKMoA) has drawn a group of rare visitors — people aged 35 or under account for more than 60 percent of the exhibition goers.
\n\n\n\n“While the Xubaizhai collection is well-renowned, young people seldom came to visit. And even if they came, they would only take a quick look and leave,” Mak said.
\n\n\n\nBut this time the exhibition gained unexpected popularity, with the display period extended to over a year.
\n\n\n\nWhat has rekindled the interest of the young in traditional Chinese art is the genuine expression of people’s feelings encapsulated in the paintings and calligraphy, whether it’s romance, family ties, friendship, or patriotism.
\n\n\n\n“Love has always been a source of inspiration for artists,” Mak said. “The landscape paintings may seem very peaceful at first glance, but they contain many emotions, and the emotion is what we want the audience to feel,” she said.
\n\n\n\nThe more than 60 exhibits told stories of bitter-sweet moments between couples, the sadness of artists when bidding farewell to friends, as well as grief and anguish of poets for the loss of their country.
\n\n\n\nFor instance, the theme poster of the exhibition featured “Farewell by a Winter Stream” by Qing Dynasty painter Chen Chongguang, which depicted a scene as good friends take their leave of each other at a pier. The description of the painting reads: “The water is calm and wide, with withered old trees and crooked branches lining the opposite bank. The cold and desolate river setting amplifies the reluctance at having to say one’s goodbyes and the feeling of wanting to cling on tight to what we treasure in life.”
\n\n\n\n“We tried to focus on telling the sentiments in the artworks and their connection with us so that you don’t have to be an expert to understand them,” Mak said.
\n\n\n\nFor the past 10 years, as a curator, Mak has been trying to figure out a way to get young people interested in Chinese cultural relics. She once converted a truck into a mobile art gallery, bringing calligraphy and paintings to the doorstep of primary and secondary schools and communities.
\n\n\n\nFor the “love letters” exhibition, the museum, in a breakthrough method of displaying traditional Chinese ink art, created a site-specific video projection installation “Freezing Water: Between Here and There” to bring audiences into the emotional worlds of the artists now and then.
\n\n\n\nThe exhibits were selected among the more than 600 artworks in the Xubaizhai collection, which comprises Chinese painting and calligraphy works dating from the fifth to 20th centuries, with particular strengths in the Ming and Qing dynasties.
\n\n\n\nXubaizhai’s founder, Low Chuck-tiew (1911-1993) was a renowned art connoisseur who devoted his life to the collection of Chinese painting and calligraphy. “From day to day, I find immense pleasure in poring over books, artworks and artifacts, after losing track of time and depriving myself of sleep until early morning,” Low once said at the opening of the Xubaizhai Gallery of Chinese Painting and Calligraphy.
\n\n\n\nTo pay tribute to Low, who donated his lifetime collection to the HKMoA, Mak prepared for every visitor of the exhibition a little surprise — a “love letter” carefully packed in an envelope.
\n\n\n\nIn the letter, Low expressed his joy in collecting the artworks and giving them back to society.
\n\n\n\n“In order to avoid the calamities that befell previous collectors resulting in the dispersal of their treasures, I have decided to donate my collection to the public rather than keeping it for my private enjoyment, so that everyone can share the same joy I have experienced throughout my life’s work,” it reads.
\n\n\n\nThe letter, together with all the “love letters” in the exhibition, told a compelling truth: sentiments are everlasting, and love is eternal.
\n", "content_text": "What does a love letter entail? For Mak Wing-man, curator of the Xubaizhai collection, it is not confined to the romantic feelings between a couple, but also filial piety, affinity among family members, as well as respect and affection between teachers and students.\n\n\n\nWith “love letters” as the theme, an exhibition featuring ancient Chinese paintings and calligraphy works at the Hong Kong Museum of Art (HKMoA) has drawn a group of rare visitors — people aged 35 or under account for more than 60 percent of the exhibition goers.\n\n\n\n“While the Xubaizhai collection is well-renowned, young people seldom came to visit. And even if they came, they would only take a quick look and leave,” Mak said.\n\n\n\nBut this time the exhibition gained unexpected popularity, with the display period extended to over a year.\n\n\n\nWhat has rekindled the interest of the young in traditional Chinese art is the genuine expression of people’s feelings encapsulated in the paintings and calligraphy, whether it’s romance, family ties, friendship, or patriotism.\n\n\n\n“Love has always been a source of inspiration for artists,” Mak said. “The landscape paintings may seem very peaceful at first glance, but they contain many emotions, and the emotion is what we want the audience to feel,” she said.\n\n\n\nThe more than 60 exhibits told stories of bitter-sweet moments between couples, the sadness of artists when bidding farewell to friends, as well as grief and anguish of poets for the loss of their country.\n\n\n\nFor instance, the theme poster of the exhibition featured “Farewell by a Winter Stream” by Qing Dynasty painter Chen Chongguang, which depicted a scene as good friends take their leave of each other at a pier. The description of the painting reads: “The water is calm and wide, with withered old trees and crooked branches lining the opposite bank. The cold and desolate river setting amplifies the reluctance at having to say one’s goodbyes and the feeling of wanting to cling on tight to what we treasure in life.”\n\n\n\n“We tried to focus on telling the sentiments in the artworks and their connection with us so that you don’t have to be an expert to understand them,” Mak said.\n\n\n\nFor the past 10 years, as a curator, Mak has been trying to figure out a way to get young people interested in Chinese cultural relics. She once converted a truck into a mobile art gallery, bringing calligraphy and paintings to the doorstep of primary and secondary schools and communities.\n\n\n\nFor the “love letters” exhibition, the museum, in a breakthrough method of displaying traditional Chinese ink art, created a site-specific video projection installation “Freezing Water: Between Here and There” to bring audiences into the emotional worlds of the artists now and then.\n\n\n\nThe exhibits were selected among the more than 600 artworks in the Xubaizhai collection, which comprises Chinese painting and calligraphy works dating from the fifth to 20th centuries, with particular strengths in the Ming and Qing dynasties.\n\n\n\nXubaizhai’s founder, Low Chuck-tiew (1911-1993) was a renowned art connoisseur who devoted his life to the collection of Chinese painting and calligraphy. “From day to day, I find immense pleasure in poring over books, artworks and artifacts, after losing track of time and depriving myself of sleep until early morning,” Low once said at the opening of the Xubaizhai Gallery of Chinese Painting and Calligraphy.\n\n\n\nTo pay tribute to Low, who donated his lifetime collection to the HKMoA, Mak prepared for every visitor of the exhibition a little surprise — a “love letter” carefully packed in an envelope.\n\n\n\nIn the letter, Low expressed his joy in collecting the artworks and giving them back to society.\n\n\n\n“In order to avoid the calamities that befell previous collectors resulting in the dispersal of their treasures, I have decided to donate my collection to the public rather than keeping it for my private enjoyment, so that everyone can share the same joy I have experienced throughout my life’s work,” it reads.\n\n\n\nThe letter, together with all the “love letters” in the exhibition, told a compelling truth: sentiments are everlasting, and love is eternal.", "date_published": "June 24, 2024", "date_modified": "June 24, 2024 - 12:24", "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/2024/06/ChkhgeE007004_20240624_CBMFN0A001.jpg", "tags": [ "HongKong | art", "Greater Bay", "MNA" ], "summary": "What does a love letter entail? For Mak Wing-man, curator of the Xubaizhai collection, it is not confined to the romantic feelings between a couple" }, { "id": "https://www.macaubusiness.com/large-scale-drug-syndicate-busted-in-shenzhen/", "url": "https://www.macaubusiness.com/large-scale-drug-syndicate-busted-in-shenzhen/", "title": "Large-scale drug syndicate busted in Shenzhen", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Drug-trafficking-150x150.png\")
\nShenzhen Customs\u2019 anti-smuggling bureau announced significant drug control achievements over the past year on Saturday, highlighting the dismantling of a major drug smuggling network and the confiscation of 1.12 metric tons of cocaine, methamphetamine, and other narcotics.
\n\n\n\n\u201cCross-border drug smuggling has become increasingly active,\u201d said Zhang Junqiang, head of Shenzhen Customs\u2019 anti-smuggling bureau, as quoted by China Daily. \u201cCriminal organisations often disguise illegal shipments as legitimate cargo to evade detection,\u201d he added.
\n\n\n\nIn the largest bust of the year, Shenzhen Customs, in cooperation with Hong Kong Customs, seized 621 kilograms of cocaine concealed in wooden blocks shipped from the Americas. The smuggling ring had carried out several test shipments before attempting the actual drug movement, showcasing traffickers\u2019 evolving methods.
\n\n\n\n\n", "content_text": "Shenzhen Customs\u2019 anti-smuggling bureau announced significant drug control achievements over the past year on Saturday, highlighting the dismantling of a major drug smuggling network and the confiscation of 1.12 metric tons of cocaine, methamphetamine, and other narcotics.\n\n\n\n\u201cCross-border drug smuggling has become increasingly active,\u201d said Zhang Junqiang, head of Shenzhen Customs\u2019 anti-smuggling bureau, as quoted by China Daily. \u201cCriminal organisations often disguise illegal shipments as legitimate cargo to evade detection,\u201d he added.\n\n\n\nIn the largest bust of the year, Shenzhen Customs, in cooperation with Hong Kong Customs, seized 621 kilograms of cocaine concealed in wooden blocks shipped from the Americas. The smuggling ring had carried out several test shipments before attempting the actual drug movement, showcasing traffickers\u2019 evolving methods.", "date_published": "June 24, 2024", "date_modified": "June 25, 2024 - 10:18", "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/2024/06/Drug-trafficking.png", "tags": [ "Greater Bay", "Macau", "MNA" ], "summary": "Shenzhen Customs' anti-smuggling bureau announced significant drug control achievements over the past year on Saturday, highlighting the dismantling of a major drug smuggling network and the confiscation of 1.12 metric tons of cocaine, methamphetamine, and other narcotics." }, { "id": "https://www.macaubusiness.com/hengqin-lifts-home-transaction-restrictions/", "url": "https://www.macaubusiness.com/hengqin-lifts-home-transaction-restrictions/", "title": "Hengqin lifts home transaction restrictions", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/03/Hengqin_LRT-150x150.jpg\")
\nThe neighbouring Hengqin zone announced on Thursday that it will eliminate all limitations on home transactions, according to official sources quoted by China Daily.
\n\n\n\nThe purchase of commercial housing in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin will no longer require any qualifications, and simultaneously, restrictions on the sale of commercial properties will be removed, as reported by the Shanghai Securities News.
\n\n\n\nThis information was based on a notice from the executive committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. The announcement stated that these changes aim to support people’s fundamental housing needs and enhance overall housing demand.
\n\n\n\nThese measures are intended to foster a new model of property development and promote the stable and healthy growth of the real estate market, authorities said.
\n", "content_text": "The neighbouring Hengqin zone announced on Thursday that it will eliminate all limitations on home transactions, according to official sources quoted by China Daily.\n\n\n\nThe purchase of commercial housing in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin will no longer require any qualifications, and simultaneously, restrictions on the sale of commercial properties will be removed, as reported by the Shanghai Securities News.\n\n\n\nThis information was based on a notice from the executive committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. The announcement stated that these changes aim to support people’s fundamental housing needs and enhance overall housing demand.\n\n\n\nThese measures are intended to foster a new model of property development and promote the stable and healthy growth of the real estate market, authorities said.", "date_published": "June 21, 2024", "date_modified": "June 21, 2024 - 02:09", "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/2024/03/Hengqin_LRT.jpg", "tags": [ "Greater Bay", "Macau", "MNA" ], "summary": "The neighbouring Hengqin zone announced on Thursday that it will eliminate all limitations on home transactions" }, { "id": "https://www.macaubusiness.com/more-hengqin-businesses-present-at-citys-signature-infrastructure-forum/", "url": "https://www.macaubusiness.com/more-hengqin-businesses-present-at-citys-signature-infrastructure-forum/", "title": "More Hengqin businesses present at city\u2019s signature infrastructure forum", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/news104517_05-150x150.jpg\")
\nThe International Infrastructure Investment and Construction Forum has welcomed more companies from Hengqin this year than before, with an increased focus on intelligent engineering technology and small electromechanical equipment.
\n\n\n\nAccording to its organiser, the Macau Trade and Investment Promotion Institute, the 12th edition of the three-day event, which kicked off on Wednesday, features a total of 90 exhibitors, 26 of which are registered in Hengqin – double the number from last year.
\n\n\n\nIn his speech, Fang Qiuchen, who heads the China International Contractors Association, highlighted the important role of infrastructure in the long-standing cooperation between China and Portuguese-speaking countries.
\n\n\n\n“Over the years, China and Portuguese-speaking countries have actively engaged in cooperation in areas such as transport, communications, water resources and energy, promoting the physical connectivity of infrastructure, harmonising regulatory standards and promoting people-to-people communication with Portuguese-speaking countries,” he said.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/news104517_04-1-1028x641.jpg\")
“This has contributed significantly to achieving regional infrastructure interconnectivity, deepening bilateral and multilateral economic and trade relations, and promoting the recovery and growth of the Portuguese-speaking countries and even the global economy.”
\n\n\n\nThe 8,000-square-metre exhibition space is also dedicated to the 10th-year edition of the Forum on Infrastructure Cooperation between China and Portuguese-speaking Countries. Shandong Province takes the spotlight as the highlight of the 2024 event.
\n\n\n\n“Last year, Shandong’s imports and exports with Portuguese-speaking countries amounted to about US$22.5 billion,” revealed Zhang Qingwei, deputy director-general of the Shandong Department of Commerce.
\n\n\n\n“Shandong has set up 49 companies in Portuguese-speaking countries, with Chinese investment reaching US$330 million.
\n", "content_text": "The International Infrastructure Investment and Construction Forum has welcomed more companies from Hengqin this year than before, with an increased focus on intelligent engineering technology and small electromechanical equipment. \n\n\n\nAccording to its organiser, the Macau Trade and Investment Promotion Institute, the 12th edition of the three-day event, which kicked off on Wednesday, features a total of 90 exhibitors, 26 of which are registered in Hengqin – double the number from last year.\n\n\n\nIn his speech, Fang Qiuchen, who heads the China International Contractors Association, highlighted the important role of infrastructure in the long-standing cooperation between China and Portuguese-speaking countries. \n\n\n\n“Over the years, China and Portuguese-speaking countries have actively engaged in cooperation in areas such as transport, communications, water resources and energy, promoting the physical connectivity of infrastructure, harmonising regulatory standards and promoting people-to-people communication with Portuguese-speaking countries,” he said. \n\n\n\n\n\n\n\n“This has contributed significantly to achieving regional infrastructure interconnectivity, deepening bilateral and multilateral economic and trade relations, and promoting the recovery and growth of the Portuguese-speaking countries and even the global economy.”\n\n\n\n The 8,000-square-metre exhibition space is also dedicated to the 10th-year edition of the Forum on Infrastructure Cooperation between China and Portuguese-speaking Countries. Shandong Province takes the spotlight as the highlight of the 2024 event. \n\n\n\n“Last year, Shandong’s imports and exports with Portuguese-speaking countries amounted to about US$22.5 billion,” revealed Zhang Qingwei, deputy director-general of the Shandong Department of Commerce.\n\n\n\n“Shandong has set up 49 companies in Portuguese-speaking countries, with Chinese investment reaching US$330 million.", "date_published": "June 19, 2024", "date_modified": "June 19, 2024 - 20:23", "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/2024/06/news104517_05.jpg", "tags": [ "China", "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "The International Infrastructure Investment and Construction Forum has welcomed more companies from Hengqin this year than before, with an increased focus on intelligent engineering technology and small electromechanical equipment. " }, { "id": "https://www.macaubusiness.com/report-deems-hong-kong-worlds-5th-most-competitive-economy/", "url": "https://www.macaubusiness.com/report-deems-hong-kong-worlds-5th-most-competitive-economy/", "title": "Report deems Hong Kong world\u2019s 5th most competitive economy", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/ChkhgeE007007_20240619_CBMFN0A001-150x150.jpg\")
\nHong Kong climbed two places to rank fifth in the latest World Competitiveness Yearbook 2024 published by the International Institute for Management Development, a business school headquartered in Switzerland, said the Hong Kong Special Administrative Region (HKSAR) government on Tuesday.
\n\n\n\nIn a breakdown by four competitiveness factors put forth by the report, Hong Kong’s rankings in “Business efficiency” and “Infrastructure” both rose notably to the top 10 globally. The city ranks in the top three in terms of “Government efficiency”, while its place under the “Economic performance” metric saw significant improvement that reflected its economic recovery in 2023.
\n\n\n\nRegarding sub-factors, Hong Kong topped the world in “International trade” and “Business legislation”, and was among the global top five in “Tax policy”, “International investment”, “Basic infrastructure”, “Finance” and “Education.”
\n\n\n\n“Having taken into account a host of factors including objective data and business opinions, the report recognized Hong Kong as one of the most competitive economies in the world,” said a spokesperson for the HKSAR government.
\n\n\n\nThe HKSAR government has launched an array of measures to bolster market confidence, tourism and consumption to consolidate the momentum of economic recovery. The city is also advancing high-quality economic development in the medium to long run by attracting enterprises, capital and talent from around the world as well as nurturing new quality productive forces, the spokesperson said.
\n\n\n\nLooking forward, Hong Kong will continue to cultivate new growth areas and enhance competitiveness while acting as a “super-connector” and a “super value-adder”, the spokesperson added.
\n", "content_text": "Hong Kong climbed two places to rank fifth in the latest World Competitiveness Yearbook 2024 published by the International Institute for Management Development, a business school headquartered in Switzerland, said the Hong Kong Special Administrative Region (HKSAR) government on Tuesday.\n\n\n\nIn a breakdown by four competitiveness factors put forth by the report, Hong Kong’s rankings in “Business efficiency” and “Infrastructure” both rose notably to the top 10 globally. The city ranks in the top three in terms of “Government efficiency”, while its place under the “Economic performance” metric saw significant improvement that reflected its economic recovery in 2023.\n\n\n\nRegarding sub-factors, Hong Kong topped the world in “International trade” and “Business legislation”, and was among the global top five in “Tax policy”, “International investment”, “Basic infrastructure”, “Finance” and “Education.”\n\n\n\n“Having taken into account a host of factors including objective data and business opinions, the report recognized Hong Kong as one of the most competitive economies in the world,” said a spokesperson for the HKSAR government.\n\n\n\nThe HKSAR government has launched an array of measures to bolster market confidence, tourism and consumption to consolidate the momentum of economic recovery. The city is also advancing high-quality economic development in the medium to long run by attracting enterprises, capital and talent from around the world as well as nurturing new quality productive forces, the spokesperson said.\n\n\n\nLooking forward, Hong Kong will continue to cultivate new growth areas and enhance competitiveness while acting as a “super-connector” and a “super value-adder”, the spokesperson added.", "date_published": "June 19, 2024", "date_modified": "June 19, 2024 - 10:48", "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/2024/06/ChkhgeE007007_20240619_CBMFN0A001.jpg", "tags": [ "HongKong | economy", "Greater Bay", "International", "MNA" ], "summary": "Hong Kong climbed two places to rank fifth in the latest World Competitiveness Yearbook 2024 published by the International Institute " }, { "id": "https://www.macaubusiness.com/hengqin-finishes-first-industrial-land-sale-provides-space-for-macau-health-sector-development/", "url": "https://www.macaubusiness.com/hengqin-finishes-first-industrial-land-sale-provides-space-for-macau-health-sector-development/", "title": "Hengqin finishes first industrial land sale for Macau health development", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240618192855-150x150.png\")
\nHengqin completed its first industrial land bidding on Monday, with plans to transform the land plot into a biopharmaceutical industrial park, providing support to Macau brands\u2019 industrialisation.
\n\n\n\nAccording to Hengqin\u2019s Economic Development Bureau, the Hengqin-Macau Innovation Industrial Park Development and Construction Co., Ltd. won the land use rights for the 116,000-square-meter land parcel.
\n\n\n\nThe government land will be developed into an industrial park with a floor area of 400,000 square metres, producing health products, food, biopharmaceuticals, and medical devices.
\n\n\n\nAs outlined in the project plan, the primary objective of the industrial park is to attract large-scale investment projects and foster the growth and industrialisation of Macau brands.
\n\n\n\nThe cooperation zone emphasises that the development of this land plot will provide support for advancements in scientific research, high-end manufacturing, and traditional Chinese medicine sector in the region.
\n\n\n\nFurthermore, the cooperation zone plans to link this land parcel with existing industrial parks in Hengqin to create an industrial cluster.
\n\n\n\nMacau’s Chief Executive Ho Iat Seng indicated at a media briefing on Monday that Macau’s traditional Chinese medicine sector would explore markets in Portuguese-speaking countries amid a growing preference for herbal medicine.
\n\n\n\n“Macau-brand traditional Chinese medicine products will be introduced and utilised in Hengqin in the future before further expanding into the Greater Bay Area market,” He said.
\n", "content_text": "Hengqin completed its first industrial land bidding on Monday, with plans to transform the land plot into a biopharmaceutical industrial park, providing support to Macau brands\u2019 industrialisation.\n\n\n\nAccording to Hengqin\u2019s Economic Development Bureau, the Hengqin-Macau Innovation Industrial Park Development and Construction Co., Ltd. won the land use rights for the 116,000-square-meter land parcel.\n\n\n\nThe government land will be developed into an industrial park with a floor area of 400,000 square metres, producing health products, food, biopharmaceuticals, and medical devices.\n\n\n\nAs outlined in the project plan, the primary objective of the industrial park is to attract large-scale investment projects and foster the growth and industrialisation of Macau brands.\n\n\n\nThe cooperation zone emphasises that the development of this land plot will provide support for advancements in scientific research, high-end manufacturing, and traditional Chinese medicine sector in the region.\n\n\n\nFurthermore, the cooperation zone plans to link this land parcel with existing industrial parks in Hengqin to create an industrial cluster.\n\n\n\nMacau’s Chief Executive Ho Iat Seng indicated at a media briefing on Monday that Macau’s traditional Chinese medicine sector would explore markets in Portuguese-speaking countries amid a growing preference for herbal medicine.\n\n\n\n“Macau-brand traditional Chinese medicine products will be introduced and utilised in Hengqin in the future before further expanding into the Greater Bay Area market,” He said.", "date_published": "June 18, 2024", "date_modified": "June 18, 2024 - 19:34", "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/2024/06/Weixin-Image_20240618192855.png", "tags": [ "China", "Greater Bay", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/hong-kong-bourse-to-keep-trading-through-severe-weather-leader/", "url": "https://www.macaubusiness.com/hong-kong-bourse-to-keep-trading-through-severe-weather-leader/", "title": "Hong Kong bourse to keep trading through severe weather: leader", "content_html": "\nHong Kong’s stock exchange will continue trading through typhoons and heavy storms from September, the city’s leader announced Tuesday.
\n\n\n\nThe bourse in the international finance hub typically suspends trading when a strong typhoon signal or “black rainstorm warning” is hoisted, meaning several days are lost each year.
\n\n\n\nSouthern China is accustomed to seeing seasonal typhoons in the latter half of the year, but climate change has made tropical storms more unpredictable while increasing their intensity.
\n\n\n\nOn Tuesday, John Lee said that from September 23 investors can trade as usual “when the typhoon signal number eight or above is hoisted in Hong Kong, or even during a black rainstorm warning”.
\n\n\n\n“Shenzhen and Shanghai are now trading in bad weather. There is no reason why Hong Kong, as an international financial centre, should not follow suit,” he added.
\n\n\n\n“Non-stop trading in inclement weather can strengthen the competitiveness of the Hong Kong Exchange,” he said, adding that the September timeframe would give the industry time to prepare.
\n\n\n\nKaterine Kou, chair of Hong Kong Securities Association, said discussion on the move had been ongoing for a year given the city’s role as “a super connector between the Chinese market and the global market”.
\n\n\n\n“I think Hong Kong as a whole, including the exchange, have been trying to score more points, and to enhance its global competitiveness,” Kou told AFP. “This is definitely a score-winning move.”
\n\n\n\nLast year, the city raised its highest T10 warning — for Typhoon Saola — for only the 16th time since World War II.
\n\n\n\nA week after Saola, Hong Kong was flooded by the heaviest rainfall in nearly 140 years, leaving its streets inundated and subway stations waterlogged.
\n\n\n\nAccording to a consultation paper from the city’s bourse proposing trading continue through bad weather, the exchange was impacted by severe weather four times in 2023, “including three full-day market suspensions”.
\n\n\n\n“During such trading suspensions, investors are unable to manage their portfolios and are exposed to potential market risks, especially in scenarios where the markets of their underlying positions are open,” it said.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/ChkhgeE007004_20240618_CBMFN0A001-150x150.jpg\")
\nOn Saturday night, inside the dining car of high-speed sleeper train D910 from Hong Kong to Beijing, crew members were presenting passengers a spectacular performance of Peking Opera, which met with loud applause.
\n\n\n\nHigh-speed sleeper trains linking Beijing and Shanghai with Hong Kong commenced operations on Saturday. The new train service runs between Hong Kong’s West Kowloon Station and Shanghai Hongqiao Railway Station/Beijing West Railway Station every Friday to Monday.
\n\n\n\nSung Jik Tung, a student from the University of Hong Kong, was one of the passengers on the first high-speed sleeper train to Beijing. He and 15 other Hong Kong students were going to Beijing to participate in artificial intelligence training for about a month.
\n\n\n\nSung told Xinhua that he was very excited to be on the maiden trip made by the first high-speed sleeper train to Beijing to witness the moment.
\n\n\n\nThe co-location arrangement at Hong Kong’s West Kowloon Station enables passengers to travel between different destinations across the country with ease and convenience.
\n\n\n\n“It was convenient and it saved us a lot of time, and also we could walk less, which was very friendly to middle-aged and elderly people,” Hong Kong passenger surnamed Ho said.
\n\n\n\nOn the train D908 bound for Shanghai, a Hong Kong passenger, insisting on merely using his surname Wan, and his family was full of expectation for the trip.
\n\n\n\nWan said riding on an overnight train will not affect the children to go to school and adults going to work on Monday. “When the children heard that they were going to spend the night on the train, they were very excited.”
\n\n\n\nGary Zhang Xinyu, chairman of the Legislative Council’s Subcommittee on Matters Relating to Railways, was also on the train D908. He said that the overnight train service provides business people with extra traveling options, improves the efficiency of business exchanges between Shanghai and Hong Kong, and helps Hong Kong better integrate into the overall development of the country.
\n\n\n\n“The train today is nearly full, which is both gratifying and challenging for us. We hope to do provide quality service to our passengers,” Ma Shuang, chief attendant on the D910 train bound for Beijing West Railway Station, said.
\n\n\n\nThe new train service has also added several stations along the route, including Shijiazhuang, Changsha South, Guangzhou, Shenzhen north and Hangzhou East.
\n\n\n\nOn Sunday morning, passengers got off the high-speed sleeper train D909 bound for Hong Kong’s West Kowloon Station and went straight to visit M+ Museum and the Hong Kong Palace Museum in the West Kowloon Cultural District.
\n\n\n\nBecky Ip, deputy executive director of the Hong Kong Tourism Board, said that the cultural atmosphere in West Kowloon allowed visitors to experience a different Hong Kong and unique charm of the city’s arts and culture.
\n", "content_text": "On Saturday night, inside the dining car of high-speed sleeper train D910 from Hong Kong to Beijing, crew members were presenting passengers a spectacular performance of Peking Opera, which met with loud applause.\n\n\n\nHigh-speed sleeper trains linking Beijing and Shanghai with Hong Kong commenced operations on Saturday. The new train service runs between Hong Kong’s West Kowloon Station and Shanghai Hongqiao Railway Station/Beijing West Railway Station every Friday to Monday.\n\n\n\nSung Jik Tung, a student from the University of Hong Kong, was one of the passengers on the first high-speed sleeper train to Beijing. He and 15 other Hong Kong students were going to Beijing to participate in artificial intelligence training for about a month.\n\n\n\nSung told Xinhua that he was very excited to be on the maiden trip made by the first high-speed sleeper train to Beijing to witness the moment.\n\n\n\nThe co-location arrangement at Hong Kong’s West Kowloon Station enables passengers to travel between different destinations across the country with ease and convenience.\n\n\n\n“It was convenient and it saved us a lot of time, and also we could walk less, which was very friendly to middle-aged and elderly people,” Hong Kong passenger surnamed Ho said.\n\n\n\nOn the train D908 bound for Shanghai, a Hong Kong passenger, insisting on merely using his surname Wan, and his family was full of expectation for the trip.\n\n\n\nWan said riding on an overnight train will not affect the children to go to school and adults going to work on Monday. “When the children heard that they were going to spend the night on the train, they were very excited.”\n\n\n\nGary Zhang Xinyu, chairman of the Legislative Council’s Subcommittee on Matters Relating to Railways, was also on the train D908. He said that the overnight train service provides business people with extra traveling options, improves the efficiency of business exchanges between Shanghai and Hong Kong, and helps Hong Kong better integrate into the overall development of the country.\n\n\n\n“The train today is nearly full, which is both gratifying and challenging for us. We hope to do provide quality service to our passengers,” Ma Shuang, chief attendant on the D910 train bound for Beijing West Railway Station, said.\n\n\n\nThe new train service has also added several stations along the route, including Shijiazhuang, Changsha South, Guangzhou, Shenzhen north and Hangzhou East.\n\n\n\nOn Sunday morning, passengers got off the high-speed sleeper train D909 bound for Hong Kong’s West Kowloon Station and went straight to visit M+ Museum and the Hong Kong Palace Museum in the West Kowloon Cultural District.\n\n\n\nBecky Ip, deputy executive director of the Hong Kong Tourism Board, said that the cultural atmosphere in West Kowloon allowed visitors to experience a different Hong Kong and unique charm of the city’s arts and culture.", "date_published": "June 18, 2024", "date_modified": "June 18, 2024 - 11:07", "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/2024/06/ChkhgeE007004_20240618_CBMFN0A001.jpg", "tags": [ "HongKong | China | railway", "China", "Greater Bay", "MNA" ], "summary": "On Saturday night, inside the dining car of high-speed sleeper train D910 from Hong Kong to Beijing, crew members were presenting passengers " }, { "id": "https://www.macaubusiness.com/double-digit-economic-growth-beckons-says-macau-leader/", "url": "https://www.macaubusiness.com/double-digit-economic-growth-beckons-says-macau-leader/", "title": "Double-digit economic growth beckons, says Macau leader", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_2914-150x150.jpeg\")
\nChief Executive Ho Iat\nSeng has expressed hope that Macau’s overall economy will see double-digit\ngrowth this year compared to last year.
\n\n\n\nThe chief executive\nmade the upbeat prediction on Monday at the Macau leg of an eight-day media\ncampaign to promote economic investment in the Greater Bay Area, which includes\nHong Kong and Macau.
\n\n\n\nAccording to official\nfigures, gambling accounted for 40 per cent of the city’s gross domestic\nproduct (GDP) in 2023 \u2013 down from around 63 per cent during the city’s heyday.
\n\n\n\n“Although the\noverall GDP last year was still lower than in 2019 before the pandemic, we are\nconfident that it will recover to a better level this year,” Ho said.
\n\n\n\nMacau’s GDP reached MOP434.67 billion (US$54 billion) in 2019, with a recovery to 80 per cent observed in 2023.
\n\n\n\nThe first quarter of\n2024 saw a year-on-year increase of 25 per cent.
\n\n\n\nCommenting on the role\nof Hong Kong and Macau in the Greater Bay Area (GBA), a metropolitan region in\nsouthern China comprising nine major cities in Guangdong other than the two\nSARs, Ho described the former as a “big brother” to the latter.
\n\n\n\n“Hong Kong is an\ninternational financial centre that has been supporting Macau for years,”\nthe chief executive told the media.
\n\n\n\nNo GBA city should ‘roll inwards’
\n\n\n\nHo also urged GBA\ncities to avoid pushing each other into a state of “involution and\nhomogenisation”, with the former being a newly coined term to describe\nburnout in cut-throat competition.
\n\n\n\n“GBA cities should\ndevelop their distinctive industries based on their own positioning,” he\nstressed during the media briefing. “Macau seems to be weak in other\nindustries, but we’re confident about co-development with the rest of the\nGBA.”
\n\n\n\nThe Macao leader also\nspoke highly of Hengqin’s development prospects, saying that government\nofficials from the SAR and Guangdong province will be able to work together on\nthe 106-square-kilometre island, which is about three times the size of Macau.
\n\n\n\nIt is a challenging\ntask for the governments of Guangdong and Macau to establish a “system of\njoint consultation and governance”, Ho stressed.
\n\n\n\n“Just imagine that\nthe Macau SAR government operates under a capitalist system, while working with\nthe Guangdong provincial government under a socialist system,” Ho said.
\n\n\n\n“However, in the\npast three years, my colleagues from both governments have successfully\nintegrated”.
\n\n\n\n“They have been\nable to reach consensus on problem-solving perspectives and approaches, which\nis of the utmost importance,” he added.
\n\n\n\n“If there were\nconflicting thoughts from senior officials of the two regions, it would be\ndifficult for those at lower levels to start to work.”
\n", "content_text": "Chief Executive Ho Iat\nSeng has expressed hope that Macau’s overall economy will see double-digit\ngrowth this year compared to last year. \n\n\n\nThe chief executive\nmade the upbeat prediction on Monday at the Macau leg of an eight-day media\ncampaign to promote economic investment in the Greater Bay Area, which includes\nHong Kong and Macau. \n\n\n\nAccording to official\nfigures, gambling accounted for 40 per cent of the city’s gross domestic\nproduct (GDP) in 2023 \u2013 down from around 63 per cent during the city’s heyday. \n\n\n\n“Although the\noverall GDP last year was still lower than in 2019 before the pandemic, we are\nconfident that it will recover to a better level this year,” Ho said.\n\n\n\nMacau’s GDP reached MOP434.67 billion (US$54 billion) in 2019, with a recovery to 80 per cent observed in 2023. \n\n\n\nThe first quarter of\n2024 saw a year-on-year increase of 25 per cent. \n\n\n\nCommenting on the role\nof Hong Kong and Macau in the Greater Bay Area (GBA), a metropolitan region in\nsouthern China comprising nine major cities in Guangdong other than the two\nSARs, Ho described the former as a “big brother” to the latter. \n\n\n\n“Hong Kong is an\ninternational financial centre that has been supporting Macau for years,”\nthe chief executive told the media. \n\n\n\nNo GBA city should ‘roll inwards’\n\n\n\nHo also urged GBA\ncities to avoid pushing each other into a state of “involution and\nhomogenisation”, with the former being a newly coined term to describe\nburnout in cut-throat competition.\n\n\n\n“GBA cities should\ndevelop their distinctive industries based on their own positioning,” he\nstressed during the media briefing. “Macau seems to be weak in other\nindustries, but we’re confident about co-development with the rest of the\nGBA.”\n\n\n\nThe Macao leader also\nspoke highly of Hengqin’s development prospects, saying that government\nofficials from the SAR and Guangdong province will be able to work together on\nthe 106-square-kilometre island, which is about three times the size of Macau.\n\n\n\nIt is a challenging\ntask for the governments of Guangdong and Macau to establish a “system of\njoint consultation and governance”, Ho stressed.\n\n\n\n“Just imagine that\nthe Macau SAR government operates under a capitalist system, while working with\nthe Guangdong provincial government under a socialist system,” Ho said.\n\n\n\n“However, in the\npast three years, my colleagues from both governments have successfully\nintegrated”. \n\n\n\n“They have been\nable to reach consensus on problem-solving perspectives and approaches, which\nis of the utmost importance,” he added.\n\n\n\n“If there were\nconflicting thoughts from senior officials of the two regions, it would be\ndifficult for those at lower levels to start to work.” ", "date_published": "June 17, 2024", "date_modified": "June 17, 2024 - 14:28", "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/2024/06/IMG_2914.jpeg", "tags": [ "Finance", "Greater Bay", "Macau", "MNA", "MNA Featured" ], "summary": "Chief Executive Ho Iat Seng has expressed hope that Macau's overall economy will see double-digit growth this year compared to last year. " } ] }