Retendering21-22

 MAR25 Fitch Ratings Inc forecasts Macau’s gross domestic product (GDP) growth to slow to 6.9 percent this year  from 8.8 percent  in 2024, as the city’s gross gaming revenue (GGR) “is likely to rise more gradually to roughly 81 percent of its 2019 level, after a rebound in 2024”. The commentary was part of a Tuesday report in which the institution affirmed Macau’s long-term issuer default rating at “AA”, with a “stable” outlook. In its latest report on Macau, a special administrative region of China, Fitch analysts George Xu, Jeremy Zook and Jan Friederich wrote: “We expect GDP growth to be supported by continued, but slower, gaming tourism recovery, along with favourable visa policies for mainland visitors, non-gaming investments and enhanced tourism infrastructure.” They added: “However, a sharp slowdown in the Chinese economy, such as from substantial U.S. tariff hikes, and sharp yuan depreciation pose downside risks to Macau’s prospects.” https://www.ggrasia.com/fitc...

 MAR25 Fitch Ratings Inc forecasts Macau’s gross domestic product (GDP) growth to slow to 6.9 percent this year  from 8.8 percent  in 2024, as the city’s gross gaming revenue (GGR) “is likely to rise more gradually to roughly 81 percent of its 2019 level, after a rebound in 2024”. The commentary was part of a Tuesday report in which the institution affirmed Macau’s long-term issuer default rating at “AA”, with a “stable” outlook. In its latest report on Macau, a special administrative region of China, Fitch analysts George Xu, Jeremy Zook and Jan Friederich wrote: “We expect GDP growth to be supported by continued, but slower, gaming tourism recovery, along with favourable visa policies for mainland visitors, non-gaming investments and enhanced tourism infrastructure.” They added: “However, a sharp slowdown in the Chinese economy, such as from substantial U.S. tariff hikes, and sharp yuan depreciation pose downside risks to Macau’s prospects.” https://www.ggrasia.com/fitc...

 jan25 Hainan to start independent customs operations by end of 2025 By   Xinhua News Agency  Hainan is intensifying efforts to build itself into a free trade port (FTP), aiming to establish independent customs operations by the end of 2025, according to a government work report presented at the annual session of the Hainan Provincial People’s Congress, which opened on Tuesday. This year Hainan plans to introduce key policies, including a catalog of taxable imported goods, a list of prohibited and restricted items for import and export and customs supervision regulations, the report stated. According to Chi Fulin, head of the Hainan-based China Institute for Reform and Development, the independent customs operations will leverage the province’s strategic geographic location, strengthening its role as a key hub for economic and trade cooperation between China and other member countries of the Regional Comprehensive Economic Partnership (RCEP), and for the development of th...

 jan25 Sands China Ltd has introduced the “Alipay Tap!” payment service to its Macau integrated resorts under a new partnership with Alipay and Macau Pass. “Alipay Tap!” is an innovative payment service introduced by Alipay across mainland China in July 2024, allowing to simply unlock their phones and tap the merchant’s payment device to complete a transaction, without having to open the Alipay app. As part of the first phase rollout of the three-party partnership, “Alipay Tap!” now covers 300 merchants across The Venetian Macao, The Parisian Macao, The Londoner Macao and Sands Macao, including hotels, dining, shopping and ticketing, Sands announced on Tuesday. Allan Chung, Vice President of E-Commerce and Digital Marketing of Sands China Ltd, said, “Sands China is proud to be the first in Macau to offer this innovative payment technology. By deeply integrating it across various business operations within Sands Resorts Macao, we have significantly enhanced the payment experience, m...

 jan25 Remaining land plots in Cotai reserved for commercial use, DSSCU clarifies  Renato Marques, MDT  Monday, January 13, 2025 - 8 hours ago  No Comments  1,188 Views T he Land and Urban Construction Bureau (DSSCU) told the Times that the remaining unused land plots in the Cotai area are designated for commercial use. This information was provided in response to an inquiry from the Times. The area includes several land parcels near the Rotunda Flor de Lotus, between the Macao Union Hospital and the developments of gaming concessionaires. In its response, the DSSCU cited the Urban Master Plan, stating: “According to the ‘Urban Master Plan of the Macau Special Administrative Region (2020-2040),’ the land in question is located in an area designated for commercial use. Detailed plans have not yet been drawn up.” Although DSSCU noted that the final purpose of the land has not been determined, it emphasized that none of these plots will be used for gaming-related d...