Briefs | Gov’t approves tax pact with Vietnam

The Macau government has reached an agreement with the state authorities of Vietnam to share tax-related information in order to deter both tax evasion and double taxation in the two jurisdictions. According to Viet Nam Plus, Vietnam’s Ministry of Finance is responsible for coordinating the two sides’ relevant agencies to implement the agreement, and for making announcements on its progress.

Solomon Islands sees match against Macau as warm up

The Solomon Islands defeated Macau 4-1 last night. The national football team said it used yesterday’s friendly match held in Macau to warm up for their upcoming game against Fiji. According to Fiji Broadcasting Corporation (FBC), coach Moses Toata said that their game against Macau would give them ideas as to how to counter Fiji. “A positive result against Macau will definitely put us in a good shape ahead of the game with Fiji,” he said, according to FBC. The Solomon Islands will face Fiji next Wednesday.

Fitch Ratings assigns BB- to China Aoyuan’s US, Singapore notes

Fitch Ratings has assigned China Aoyuan Property Group’s proposed US dollar and Singapore dollar senior notes an expected ‘BB-(EXP)’ rating, the same as the company’s senior unsecured rating, because they constitute its direct and senior unsecured obligations. The basis for the grading, according to Fitch Ratings, is due to the company’s exposure to industry downside risk, given its deeper penetration into China’s lower-tier cities and its higher commercial property exposure than its ‘BB-’ peers. Most of Aoyuan’s lower-tier cities are satellite cities, which benefit from spillover from Tier 1 cities with home-purchase restrictions. However, Fitch sees lower-tier city housing markets as more vulnerable than higher-tier cities, due to unexpected policy-making and industry downturn. China Aoyuan Property Group is one of the largest-scale property developers in China, headquartered in Guangzhou and in Hong Kong.

Number of MICE events stable

A total of 327 MICE events was held in the second quarter of 2018, including 316 meetings and conferences, nine exhibitions and two incentives. The total number of events decreased by six year-on-year, while the number of participants and attendees increased by 1.7 percent to 411,000. According to information from the Statistics and Census Service, the number of meetings and conferences held in the second quarter of 2018 increased by eight year-on-year; the number of participants soared by 121 percent to 98,000, which is attributable to an upsurge of 171.3 percent in participants (85,000) attending meetings & conferences with 200 participants or more (69). The number of exhibitions held in the second quarter decreased by two year-on-year, with the number of attendees dropping by 12.4 percent to 308,000. Exhibitions organized by non-government organizations totaled seven and number of attendees dropped by 24.7 percent to 258,000.

Experts gather at UM to discuss smart grid technologies

The University of Macau (UM) State Key Laboratory of Internet of Things for Smart City recently held a seminar on smart grid technologies for smart cities. This is the first event organized by the lab since UM received approval from the central government to establish it. The event received assistance from Companhia de Electricidade de Macau, the Institute of Electrical and Electronics Engineers (IEEE) of Macau, and the IEEE Macau Power and Energy Society/Power Electronics Society Joint Chapter. Experts and scholars from Macau, mainland China, and overseas attended the seminar and discussed the latest developments of technologies in sustainable energy, energy internet, electricity market, and the dispatch of smart grid equipment.

Mi Jian appointed new policy research bureau head 

Mi Jian has been appointed the new director of the Policy Research and Regional Development Bureau, according to a dispatch published in the government’s Official Gazette yesterday. Mi will step into his new position on September 1 for a two-year term. Mi is currently the director of the Policy Research Office. The CE also appointed two department heads and four division heads to DSEDPR. DSEDPR will be established on September 1, formed by the Policy Research Office and the Mainland Work Team of the CE Office.

Housing policy not specifically for Pearl Horizon owners

The city’s policy on temporary housing was not established specifically for Pearl Horizon buyers, according to the head of the Administration Appeal Bureau and deputy commissioner of the Commission Against Corruption, Lam Chi Long. Yesterday during Forum Macau, Lam said that despite Pearl Horizon buyers being the first batch of candidates eligible for the city’s temporary housing policies, that does not mean the policy was made deliberately for the group.  Lam claimed that the temporary housing policies could provide property owners with more options.

Hong Kong man broke into military camp

A middle-aged Hong Kong resident has been sent to the prosecution authority after breaking into the Taipa Military Camp. When the man first attempted to enter the camp, he was stopped by a soldier who was on-duty. Upon being warned by the soldier, the 50-year-old Hong Kong resident refused to leave the scene and broke into a prohibited area of the camp. The man showed no signs of physical resistance afterwards, when the soldier stopped him from stepping forward. The soldier reported the case to the Public Security Police Force (PSP). According to the PSP, the Hong Kong man claimed he wanted to seek help from the military.