Chief Executive Ho Iat Seng is leading a senior government delegation on a two-day visit to Guangzhou and Zhuhai, which began yesterday. According to the government, the visit is being held in order to exchange views on how to strengthen cooperation between Guangdong and the Macau SAR. Ho met with leading Guangdong province officials in Guangzhou yesterday afternoon and was due to meet with leading Zhuhai officials in Zhuhai today. The delegation will also inspect several projects related to Macau before the end of the trip. The government delegation includes four of the five policy secretaries, as well as several other senior officials in the government. While the Chief Executive is away, Secretary for Security Wong Sio Chak will take on the role of acting Chief Executive.
Chinese regulator opens way for Macau banks
China will support and encourage Macau banks to set up branches on the mainland as part of efforts to stimulate the region’s economic and financial development, the China Banking and Insurance Regulatory Commission said in a statement on its website on Friday. Mainland financial leasing firms are now also allowed to operate in Macau, according to the statement. The regulator announced on December 16 that Chinese insurers could invest in the special administrative region.
Consumer prices increased 2.7% in November
The Composite Consumer Price Index (CPI) for November 2019 increased by 2.7% year-on-year to 102.73, according to the latest data provided by the Statistics and Census Service, which was 0.16 percentage points lower than the 2.86% growth seen in October 2019. The data showed that the increment was attributable to higher rental prices for dwellings, dearer charges for eating out and the rising prices of fresh pork and gasoline. The price index for food and non-alcoholic beverages rose by 5.4% year-on-year, while the index for education grew at a similar rate of 5.2%. Meanwhile, the price indexes for communication dropped 2.76% and the index for clothing and footwear fell 4.57% year-on-year. For the 12 months ending in November 2019, the average Composite CPI increased by 2.78% from the previous period, with notable growth in the price indexes of education (5.72%) and transport (4.84%).
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