Briefs | Kaohsiung mayor to visit Macau

The recently elected mayor of Kaohsiung, Han Kuo-yu, is reportedly visiting Macau on March 23 and 24, according to reports by Taiwan media. Han is reportedly going to organize a Kaohsiung investment procurement fair in Macau as well as visit several hotels in Cotai. He is also planning to meet with some of Macau’s government departments. Besides visiting Macau, he will also visit Hong Kong, Shenzhen and Xiamen between March 22 and 28 for economic and trade purposes.

Sai Van lake water level to lower

The Municipal Affairs Bureau (IAM) will lower the water level of Sai Van lake for the construction of the Light Rapid Transit Barra Station, according to a statement released by the IAM. The bureau will oversee the lowering of the water level of Sai Van lake to 1.7 meters at the beginning of March for approximately two weeks. The IAM says that it will closely monitor the water quality and the condition of living organisms in the lake after the descent of the water level. Upon completion of the work, the water level will be restored to the normal level, which varies between 2.4 and 2.5 meters.

Banking sector deposits edge up

The broad money supply continued to grow in January, according to the latest statistics from the Monetary Authority of Macau. The currency in circulation and demand deposits rose 11.1 percent and 1.3 percent respectively. At the same time, resident deposits grew 0.9 percent from the preceding month to MOP640.9 billion and non-resident deposits dropped 0.2 percent to MOP240.1 billion. Public sector deposits decreased 1.8 percent to MOP233.8 billion. As a result, total deposits in the banking sector increased 0.1 percent from a month earlier to MOP1,114.9 billion. The shares of total deposits denominated in MOP, HKD, RMB and USD were 19.4 percent, 50.8 percent, 3.8 percent and 23 percent respectively.