Chinese president Xi Jinping will be travelling to Macau in December to attend the inauguration ceremony for the Chief Executive and other top officials, Radio Macau reported. The Chinese president is also due to participate in ceremonies marking the MSAR’s 15th anniversary. It will be the first time Xi has visited Macau while serving as president of the People’s Republic of China. He had previously visited the territory while serving as vice-president.
Macau reserves decrease 0.8 pct
Macau’s reserves have decreased 0.8 percent month-on-month in September, with foreign reserves falling to MOP129.2 billion by the end of last month. Data released by the Monetary Authority of Macau reveals that the reserves declined by 0.8 percent from the revised value of MOP130.2 billion for the previous month. By the end of September, Macau’s foreign exchange reserves represented 13 times the currency in circulation. The trade-weighted effective exchange rate index for the pataca – a gauge of the domestic currency’s exchange rates against the currencies of Macau’s major trading partners – rose by 1.18 points month-on-month and 1.41 points year-on-year to reach 98.88 in September 2014.