Briefs | Wushu Masters Challenge closes

The inaugural edition of the Wushu Masters Challenge came to an official close last night at a ceremony held at Tap Seac Square. A parade starting from the Ruins of St. Paul’s Cathedral and ending at Tap Seac Square preceded the closing ceremony. The event, which is being heralded as a cultural occasion in the city with the additional aim of promoting traditional Chinese martial arts among residents, was said to have brought together about 400 masters from Asia, the Middle East and Europe. In addition to the entertainment, sporting and tourism affair, the Sports Bureau says that the four-day event can also provide a way to promote international interaction and experience-sharing among practitioners. The Secretary for Culture and Social Affairs, Alexis Tam, posed yesterday with a selection of the participating artists, who were dressed in the traditional gear and some as Chinese-style dragons, lions and mythological creatures.

Xu Yingzhen takes office at Forum Macau

The new Secretary-General of the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries – Macao (Forum Macau), Xu Yingzhen, took office on August 11.
Xu has served as Commercial Counselor of the Department of American and Oceania Affairs of the Ministry of Commerce of China for several years. She is said to have extensive experience in foreign affairs and good knowledge of the markets of Portuguese-speaking countries, having also supported previous editions of the Ministerial Conference of Forum Macau. Xu arrived in the territory last month. According to the information provided by Forum Macau, she has been visiting several MSAR government entities, as well as the consular representatives of Portuguese-speaking countries in the territory, in order to exchange views on their work.

SME lending by local banks drops 50pct

New Small and Medium-sized Enterprises’ (SME) lending approved by Macau banks has dropped by more than 50 percent in the first half of 2016, compared to the second half of 2015, according to statistics released by the Monetary Authority of Macao. In the first half of 2016, new SMEs’ credit limit approved by Macau banks totaled MOP9.9 billion, down by 51.8 percent from the second half of 2015, or 44.8 percent compared to the same period last year. At the end of the first half of this year, the outstanding balance of delinquent SMEs loans dropped by 16.3 percent from six months ago to MOP306.4 million. This is in comparison to a year ago when the balance grew by 56.5 percent.