Motor vehicle insurance for Macau single-plate vehicles is now 30% less expensive in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin in order to further economic, trade, and personnel exchanges. The Cooperation Zone also has increased the exit-entry quota for Macau single-plate vehicles to 10,000 from the initial 400. As of now, 8,000 Macau single-plate vehicles are covered by motor vehicle insurance in the Chinese mainland. To meet the demand of Macau residents to purchase insurance for single-plate vehicles, the Cooperation Zone Financial Development Bureau has promoted local mainland insurance companies to reduce fees for Macau single-plate car owners.
Int’l business in banks retreats slightly
The proportion of international business in the local banking sector retreated in the second quarter of 2022, according to the Monetary Authority of Macao. At end-June 2022, the share of international assets in total banking assets decreased to 85.5% from 86.0% at end-March 2022, while the share of international liabilities in total banking liabilities fell to 83.3% from 83.6%. Non-local currencies continued to be the dominant denomination in international banking transactions. At end-June, the shares of the pataca in total international assets and total international liabilities were 0.8% and 0.7% respectively. The Hong Kong dollar, the US dollar, the renminbi and other foreign currencies accounted for 32.7%, 44.0%, 18.7% and 3.8% of total international assets, respectively.
Guia Hill Cable Car resumes operation
The Guia Hill Cable Car operation, which has been suspended because the main cables were worn out, will resume operation today, as the replacement works of the main cables and a series of works such as connection of cables, inspections, adjustments and trials to ensure the safe operation of the cable car have been completed. The opening hours of the cable car are 8 a.m. to 6 p.m. daily.
Gov’t to allow private dining events up to 299 pax
The Health Bureau stated that public departments or government-subsidized institutions or groups are not allowed to hold catered functions with more than 19 people, in its latest guidelines on catered gatherings. Private institutions or individuals that are not subsidized by the government can hold private dining events with up to 299 people. If 20 or more people participate, staff and participants must hold appropriate nucleic acid test (NAT) certificates. NAT requirement for staff and attendees of functions are subject to changes in the NAT measures set in the Zhuhai-Macau customs entry policy.
