|MACAU AND ZHONGSHAN TO ESTABLISH‘CO-OPERATION PILOT ZONE’|
The Macau government signed a framework agreement on 16 July 2014 with Zhongshan city to establish the “Guangdong-Macau Cooperation Pilot Zone” in Cuiheng district,Guangdong province.
The agreement was signed by Secretary for Economy and Finance Francis Tam Pak Yuen and Zhongshan Mayor Chen Liangxian.
The annual joint meeting was first held in 2003 for top officials from either side to discuss cooperation projects. Chief Executive Fernando Chui Sai On and Guangdong Governor Zhu Xiaodan cochaired the meeting.
According to a statement, a five squarekilometerarea will be set up in the “first phase” of the project. The two parties will also establish a joint venture investment company to launch the development and construction of the pilot zone which is to be divided into five functional subzones,namely Guangdong-Hong Kong-Macau Co-operation Industrial Park, International Trade Services Platform, Guangdong-Macau Education and Training Park, International Cultural Exchange Zone, Guangdong-Hong Kong-Macau Tourism Cooperation Zone.
THE 8TH APEC TOURISM MINISTERIAL MEETING IN MACAU
The 8th APEC Tourism Ministerial Meeting,which was held in Macau for the first time on 13 September 2014, ended with the Macau Declaration which recognises “the significant differences among APEC member economies in economic development, culture and history.”
The Macau Declaration on Building a New Future for Asia-Pacific Tourism Co-operation and Development also stressed that “diversity and flexibility should be maintained when conducting Asia-Pacific tourism co-operation so as to strike a balance among member economies’ tourism interests.”
Vice-Premier Wang Yang of PR China said in a speech that he was confident that “by removing barriers and improving the integration of the Asia-Pacific tourism market, APEC can meet its new target of 800 million tourists by 2025.”
A total of 152 representatives from 21 APEC member economies and international tourism organisations attended the meeting.
|FERNANDO CHUI SAI ON RE-ELECTED CHIEF EXECUTIVE|
Mr Fernando Chui Sai On, the sole candidate of the fourth-term chief executive election, was re-elected on 31 August 2014 by 380 of the 396 members of the Chief Executive Election Committee who cast their ballots, garnering 95.96 percent of the ballot.
Re-elected Chief Executive Mr Chui thanked residents for their support, and promised that he will put his campaign promises into action.
The first priority of the new government will be the livelihood of the people by providing Macau residents with better job opportunities through education, since it is the key to cultivate the talent of locals.
In the area of economy, Mr Chui said “We will review the development of the gaming industry as part of positioning Macau as a world-class leisure center.”
Additionally, Mr Chui said that in his new five-year term, importance will also be given to improve the administrative efficiency by solving the overlapping functions of the bureaus.
GROWTH OF MACAU’S ECONOMY STANDS AT 8.1 PCT IN REAL TERMS IN SECOND QUARTER OF 2014
Macau’s economy grew by 8.1 percent in real terms in the second quarter of 2014,unchanged compared to figure reported for the same period of 2013 but lower than the 12.4 percent seen in the first quarter of this year, the region’s Statistics and Census Bureau reported.
The Bureau explained the economic slowdown in Macau between the first and the second quarter with the downturn in exports of gaming services,“which led to the slowdown in economic growth.”
GDP growth in the second quarter was due to be “primarily to increased investment and exports of other tourist services,” which recorded growth of 56.4 percent and 10.4 percent, respectively, while exports of gaming and gambling services decreased by 0.5 percent year on year.
Private consumption grew steadily, with household expenditure in the local market and abroad increasing 7.3 percent and 6.6 percent,respectively, and government expenditure grew by 4.8 percent, year on year.
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