Briefs | Mainland investment in HK property soars

Total property investment by Chinese mainland investors in Hong Kong soared 213 percent year-on-year to USD4.6 billion in the first quarter of 2017, according to a report released by Colliers International, a global leader in commercial real estate services. In 2016, mainland investors spent more than USD5.3 billion in the Hong Kong property market over the course of the whole year. Investment in the first quarter of 2017 represented a year-on-year increase of 60 percent compared with the same period in the previous year. So far, office buildings have been the most popular category of property for mainland corporate investors. Moreover, the report predicted that Hong Kong would replace New York as the top overseas urban property investment destination for Chinese mainland capital in 2017. The report said that Chinese mainland investors are expected to continue to shift their focus from the United States to Asian markets at a moderate pace.

Ng proposes housing development fund

Lawmaker Ng Kuok Cheong is urging the government to use the city’s fiscal reserves to establish a housing development fund. The fund would be used to support Macau’s short, medium and long-term housing developments. Ng reminded the government that the city’s housing and financial authorities had discussed the fund. Ng also questioned  the government on whether it would use the fund to support the construction of additional economical houses, as well as new sorts of public houses.

Inflation grows slightly

The Composite Consumer Price Index in April 2017 increased by 0.8 percent year-on-year. According to the Statistics and Census Service (DSEC), the increment was attributable to higher charges for eating out and out-patient services, as well as an increase in tuition fees and rising gasoline prices. However, price indices of Communication and Housing & Fuels dropped by 5.57 percent and 1.41 percent respectively. For the 12 months that ended in April 2017, the average Composite CPI increased by 1.51 percent from the previous period.

Two mainland men arrested for murder case in 2006

Two men suspected of murder in a homicide case that occurred in 2006 were arrested in mainland China. In 2006, a 23-year-old mainland student who studied at the Macau Polytechnic Institute (IPM) was killed in her apartment in an incident where the two suspects entered Macau illegally and burgled the victim’s house. The Judiciary Police (PJ) says that criminal identification technology was unreliable back then, preventing the police from identifying the suspects. In manslaughter cases, authorities have 20 years to press charges.

DSEJ to enhance training of teachers’ Mandarin

The director of the Education and Youth Affairs Bureau (DSEJ), Leong Lai, said that the bureau intends to enhance the Mandarin training of teachers. According to Leong, the training will improve the use of Mandarin as language of instruction in the city. Currently, 24 percent of the city’s Chinese teachers are teaching in Mandarin. Leong hopes that by the academic year of 2019/2020, most of the city’s Mandarin teachers will be able to obtain China’s national Mandarin qualification.

Fiscal reserve tops USD59b in Q1

The fiscal reserves of Macau reached MOP472.3 billion (almost USD59 billion) at the end of March this year. The basic reserves accounted for MOP127.95 billion and the excess reserves took up MOP344.41 billion, the city’s monetary authority said Tuesday. In the first quarter, the asset allocation of the fiscal reserve continued to include global bonds, global equities and money market instruments. The annual investment income for fiscal reserve totaled MOP4.39 billion, equivalent to an annual return of 3.9 percent. The income from equity investment became the largest source for the fiscal reserve for the period, due to the recovery of global equity markets. Investment in the traditionally stable fixed income market and money market also generated a steady income at the same time, the monetary authority said.

Plane skids off runway at Chek Lap Kok

Flights to and from Hong Kong International Airport were reportedly disrupted for almost two hours yesterday morning after a China Eastern Airlines aircraft skidded off the runway after landing during heavy rain. After an initial attempt to land failed, flight MU765 from Nanjing landed at 10:51 a.m. and airport officials said the Airbus A321 slid off the runway as it was making its way to the gate. Firefighters were deployed after the plane came to a halt with its front and right side wheels stuck on the grass outside the runway. It took over 90 minutes before workers shifted the plane back to the runway and towed it away. Airport authorities said the 141 passengers and crewmembers were then transported to the terminal by bus and two people who felt unwell were sent to hospital for checks. The Civil Aviation Department said it will conduct an investigation into the “serious” incident.

Zhuhai refunds quarantine fees to car owners

The Zhuhai Entry-Exit Inspection and Quarantine Bureau is refunding quarantine fees to Macau and Zhuhai car owners, according to a report by Jornal Va Kio. Under the scheme, a total of RMB5.7 million will be refunded to the owners of around 22,900 cars from both Macau and Zhuhai. The scheme will end on September 30. The Gongbei border gate, the site of most vehicle crossings between Zhuhai and Macau, will be the main border involved in the refund scheme. Around 82 percent of vehicles involved in the scheme were quarantined at the Gongbei border gate.