AGP Executive Report

Pension & Social Security Modernisation: Macao’s central provident fund transfers to Guangdong bank accounts are now fully operational in Hengqin, with a one-time registration letting eligible residents receive all eligible social security and livelihood fund payments automatically (free of charge). The Social Security Fund also proposes lowering the pension adjustment trigger from 3% to 2% and setting a review interval of no more than three years to better track living-cost changes. Gaming & Tourism Infrastructure: The government has green-lit Wynn Palace’s expansion in Cotai, approving a new luxury hotel tower plus theatre and entertainment facilities, with a contract premium of MOP 652 million. Local Business Going Global: IPIM opened applications for the 31st MIF “Macao Local Enterprise Sales Area,” offering an 80% booth fee discount (MOP 2,700) for categories including food & beverages and smart home devices, targeting mainland and Portuguese-/Spanish-speaking markets. Public Health & Safety: FEHD released July gravidtrap and density indexes for Aedes albopictus across 19 survey areas, while IAM stepped up summer safety inspections and plans fire evacuation drills for municipal facilities under construction. Cross-border Trade & Compliance: Hong Kong Customs seized smuggled goods worth about $87.5 million in a sea-smuggling operation involving river trade vessels departing for Macao, including suspected pharmaceuticals and anti-obesity injections. Sports & Hospitality Demand: Women’s Volleyball Nations League – Finals Macao 2026 kicked off at the East Asian Games Dome, with quarterfinals continuing tomorrow; meanwhile, CSTS and Connexus wrapped up FIFA World Cup 2026 Official Hospitality sales in Greater China, highlighting demand for premium sports travel.

Gaming & Tourism Development: Macau government approved Wynn Palace’s large-scale expansion, clearing the way for a new luxury all-suite hotel tower (432 rooms) with a MOP 652 million contract premium. Macau Economy & Cost of Living: DSEC reported June 2026 Composite CPI up 1.24% year-on-year but down 0.15% month-on-month; food, transport, clothing and miscellaneous services were key movers. Social Security Policy: The Social Security Fund proposed lowering the pension adjustment trigger from 3% to 2% cumulative CPI change and adding a rule to review pensions at least once every three years. Local Business Going Global: IPIM opened applications for the 31st MIF “Macao Local Enterprise Sales Area,” offering eligible firms an 80% booth fee discount (MOP 2,700) across smart home, daily necessities, food & beverages, and creative cultural products. Workplace & Site Safety: IAM stepped up inspections of municipal facilities under construction and will run fire evacuation drills across multiple external services centres. Cross-border Business Links: A Mozambique business delegation said Macao is a relevant partner for identifying mainland China opportunities, highlighting cooperation in agriculture, agribusiness, agro-industry, tourism, logistics and the blue economy. Regional Industry Demand: Guangdong data centers’ electricity use jumped 21.1% in H1 as AI model growth boosts computing power demand.

Social Security Reform: Macau’s Social Security Fund will lower the activation threshold for periodic benefit adjustments, cutting the required cumulative Composite CPI change from 3% to 2% and setting a flexible rule so old-age pension reviews won’t be spaced more than three years apart—aimed at tighter alignment with price swings. Gaming Recovery Watch: Citi says Macau’s daily GGR averaged about MOP679 million in the week after July 6, up 9% week-on-week as World Cup distractions faded, while keeping its July forecast at MOP21 billion. Transport & Public Works: Lawmaker Leong Sun Iok flags ageing footbridges’ poor shelter and lift access, while DSOP says maintenance is ongoing; separately, drivers complain about bumpy rides on Friendship Bridge after resurfacing, with an analysis pointing to design and material factors. Pharma Deal: Ashlins Pharmaceuticals signed an exclusive license and supply agreement with Lee’s Pharm for interferon alpha-2b products outside Mainland China, Hong Kong, Macau and Taiwan, with milestones up to $31m. Food & Hospitality: Wynn Macau’s Drunken Fish added to 50 Best Discovery, reinforcing Macau’s push as a global dining destination. Business & Trade: A 2026 Guangdong & Macao branded products fair is set for Aug 6-9, and Macau’s shuttle-bus expansion plan targets more tourism flow into local communities.

Macau Economy & Tourism: Macau logged nearly 21 million visitor arrivals in the first half of 2026, up 9% year-on-year, but international arrivals grew slower (+6%), keeping the city reliant on Greater China demand. Gaming Industry: Citi says Macau’s daily GGR averaged about MOP679 million in 13–19 July, up 9% week-on-week as World Cup distractions faded; the bank kept its July 26 GGR forecast at MOP21 billion. Social Security Policy: Macau’s Social Security Fund won unanimous backing to optimise the Periodic Adjustment Mechanism—cutting the activation threshold to 2% and setting old-age pension adjustments at intervals of no more than 3 years. Transport & Infrastructure: Drivers complained about bumpy rides on Friendship Bridge after resurfacing; DSOP says maintenance is ongoing. Separately, DSOP detailed the LRT East Line Extension tunnel contract: 1.726 billion patacas for 1.5 km, with a 1,035-day deadline. Food & Hospitality: Wynn Macau’s Drunken Fish debuted on 50 Best Discovery, adding another global spotlight to Macau’s dining scene. Energy & Industry: Taipa’s Pac On fuel terminal completed Macau’s first integrated solar-storage-EV charging facility, targeting lower energy costs and serving as a low-carbon template. Workforce & Skills: Macau launched a Youth Career Expo at Macau Tower with 1,600 openings, pushing early career planning amid diversification and Hengqin integration.

Judicial Move: Macau’s Court of Final Appeal is set to relocate to the Old Courthouse next week, with the new address at Avenida da Praia Grande No. 459—part of a long-running city-centre redevelopment that reshapes how key legal services are accessed. Gaming & Tourism Pulse: Citi estimates Macau’s daily GGR averaged about MOP 679 million in 13–19 July, up 9% week-on-week as World Cup distractions fade, while DICJ data also points to ongoing shifts in VIP baccarat performance. Clean Energy Milestone: Taipa’s Pac On fuel terminal has completed Macau’s first integrated solar-plus-battery-plus-EV charging facility, entering trial operation and positioning the project as a template for low-carbon industrial rollouts. Local Visitor Demand: First-half visitor arrivals hit nearly 21 million, up 9% year-on-year, but international growth lagged—still a Greater China-heavy mix. Food & Hospitality Branding: Wynn Macau’s Drunken Fish earned a spot on 50 Best Discovery, reinforcing Macao’s push to market itself as a top-tier food destination. Responsible Gaming: Galaxy Macau and StarWorld ran World Cup-linked responsible gaming activities focused on youth and rational entertainment, pairing interactive outreach with on-site counselling. Skills & Employment: A Youth Career Expo in Macau Tower drew 1,600 openings across sectors, signaling continued workforce planning as diversification deepens. Transport Infrastructure: DSOP says the LRT East Line extension tunnel must be finished within 1,035 calendar days, with station design work now underway. Pharma Trade Linkages: CPHI & PMEC Shenzhen 2026 (Sept 16–18) is set to expand South China pharma supply-chain connections, a key regional signal for Macau-linked business networks.

Macau Gaming: Citi estimates Macau’s gross gaming revenue averaged MOP$679m per day in the week of 13-19 July, up 9% week-on-week as World Cup “distractions” faded, lifting monthly GGR through 19 July to about MOP$12.05b; Citi keeps its 26 July GGR forecast at MOP$21.0b. Public Transport & Construction: The DSOP says the LRT East Line Extension’s 1.5km underground tunnel must be completed within 1,035 calendar days (about 2 years 10 months), with two station sites entering preliminary design. Tourism & Retail Events: IPIM will run the 2026 Guangdong & Macao Branded Products Fair from Aug 6-9 at The Venetian Macao, with upgraded zones including silver economy wellness and healthy living. Digital Inclusion: Macau’s CTT and IAS held a seminar on accessible technologies, aiming to narrow the digital divide for seniors and people with disabilities. Cross-border Business: IPIM is sending a 29-member entrepreneur delegation to Mozambique (July 20-25) to tap China–Portuguese-speaking country trade links, including logistics, engineering tech and e-commerce. Workforce Skills: Macau will send 24 youths to the Shanghai WorldSkills Competition in September after intensive training and selection across 22 skills categories. Responsible Gaming: Galaxy Macau launched a World Cup-themed responsible gaming campaign with youth-focused activities and counseling support.

Skills & Youth Development: The Labour Affairs Bureau says 24 Macao youths (under 25) will head to Shanghai in September for the 48th WorldSkills Competition after a process that drew nearly 600 applicants and included 350–600 hours of training across 22 skills categories. Trade & Consumer Industry: The 2026 Guangdong & Macao Branded Products Fair runs Aug 6–9 at Cotai Expo, with upgraded zones spanning Guangdong and Macao brands, Belt and Road products, and senior wellness and healthy living experiences, plus forums and business matching. Gaming & Responsible Play: Galaxy Entertainment Group rolls out a World Cup-themed responsible gaming campaign, running youth-focused activities and counseling at Galaxy Macau and StarWorld, and extending outreach via an RG Man competition. Transport & Construction: DSOP details the LRT East Line Extension tunnel contract: a 1.5km underground tunnel must be completed within 1,035 calendar days, with two station preliminary design phases launched (Ilha Verde and Fai Chi Kei). Cross-border Business: IPIM is sending a 29-member entrepreneur delegation to Mozambique (July 20–25) to tap China–Portuguese-speaking country cooperation, including visits to local departments and enterprises. Public Infrastructure & Tourism: A World Cup District Lifestyle Festival in Barra drew residents and visitors with markets and football-themed activities over three days.

Responsible Gaming & Staff Outreach: Galaxy Entertainment Group rolled out a World Cup-themed “GEG Responsible Gaming Promotional Program” with back-of-house activities at Galaxy Macau and StarWorld, plus community outreach via a responsible gaming competition. Gaming Integrity Debate: An opinion piece revisits Macau’s “electronic baccarat shoes” rumor, arguing the real issue is trust and how regulators respond to public concern. Trade & “Going Global”: IPIM sent a 29-member Macao/Hengqin/Mainland delegation to Mozambique (July 20–25) for a China–Portuguese-speaking countries entrepreneurs meeting, covering sectors from engineering and logistics to cross-border e-commerce. Innovation Support for Startups: Hong Kong’s Science Park expansion via the Hong Kong–Shenzhen Innovation & Technology Park boosts cross-border startup funding, coaching and commercialisation, with 750+ applications reported. Macau Tourism/Events: MAMAMOO added a Macau stop at Londoner Arena after instant sell-outs, turning the residency into a back-to-back two-day event. Industry Capacity Building: CPTTM marked 30 years, highlighting ISO and M-Mark certification support and a renewed push for digital transformation and “Made in Macao” market expansion.

Macau Tourism & Transport: Macau is set to expand its concessionaire shuttle bus scheme to move visitors into local communities, while Hengqin rolls out voucher drives and upgraded shuttle routes to boost cross-border tourism. Gaming & Finance: Macau’s DICJ data shows Q2 2026 GGR at MOP61.2b, with VIP baccarat down 18.8% sequentially—mass baccarat’s share rises as VIP weakens. Local Industry Upgrades: CPTTM marks 30 years, saying it has served 20,000 SMEs and pushed ISO/M-Mark certification, with a renewed push for digital transformation and AI. Smart Care & Telecom: MTel signs AI cooperation deals with Jiangnan University and a CAS-linked firm to build an AI-powered smart care solution for seniors. Trade & Wellness: The 18th Guangdong & Macao Branded Products Fair returns Aug 6-9 at Cotai Expo, themed on silver economy and healthy living, with business matching across the region. Creative & Media: IC shortlists 30 projects for the second phase of “Local View Power,” backing documentaries, short features and animation. Luxury Demand: Richemont reports “stratospheric” jewellery-led growth, with China, Hong Kong and Macau cited among key drivers. Cross-border Enforcement: Hong Kong reports jail sentences for passengers smuggling duty-not-paid cigarettes via the HZMB from Macau. Equine Industry Link: The Hong Kong Jockey Club deepens cooperation with Guangzhou to build an equine industry cluster for the Greater Bay Area. Energy Tech: Tongwei showcases high-efficiency solar module upgrades at Intersolar Europe, including record bifaciality claims. Skills & Hospitality: UTM student Bianca Mak Correia wins silver in Restaurant Service at the WorldSkills Australia Global Skills Challenge. Entertainment Spotlight: MAMAMOO expands its Macau stadium stop to back-to-back sell-outs at Londoner Arena.

Customs & Trade Enforcement: Two incoming passengers were jailed in Hong Kong after being caught at the HZMB Hong Kong Port importing duty-not-paid cigarettes from Macao—88,400 sticks worth about HK$450,000, with sentences of seven months plus a HK$1,000 fine, underscoring tougher deterrence under the Dutiable Commodities Ordinance. Luxury & Retail Demand: Richemont (Cartier owner) reported “stratospheric” jewellery-led growth, with sales up 20% organically in the quarter to end-June, pointing to strong spending in Hong Kong and Macau alongside Japan and the Americas. Media & Creative Industries: Hengqin’s new 220,000 sq m microdrama studio in partnership with COL Group International is now operational, with dozens of shooting assignments already completed and more TV and microdrama productions lined up. Gaming Revenue Watch: Macau’s DICJ data shows June quarter VIP baccarat GGR fell sharply—down 18.8% sequentially—dragging overall GGR to MOP 61.2 billion in Q2. SME Support & Industry Upgrading: CPTTM marked 30 years, saying it has served 20,000 SMEs and is pushing renewed digital transformation and “Made in Macao” certification expansion. Tourism Infrastructure: A land concession was approved for a new 10-storey two-star hotel in Patane, with premiums and fees set out in the government gazette. Cross-border Logistics: HKIA handled 5.1 million tonnes of cargo in FY2025/26, becoming the world’s busiest cargo airport for the 15th time since 2010. Local Business Promotion: The 2026 Guangdong & Macao Branded Products Fair returns Aug 6–9 at Cotai Expo, themed around silver economy and healthy living, with business matching for regional buyers.

Macau Economy & Industry: Macau’s Productivity and Technology Transfer Center (CPTTM) marked 30 years, saying it has supported over 20,000 SMEs and pushed “Made in Macao” via ISO and the M-Mark quality scheme, with a renewed push for AI and digital transformation. Gaming Oversight: Macau’s gaming regulator (DICJ) met concessionaires to crack down on illegal livestreaming of casino gambling, stressing tighter internal controls and coordination with the Judiciary Police. Gaming Numbers: DICJ data showed Q2 2026 GGR at MOP61.2b, with VIP baccarat down sharply—down 18.8% quarter-on-quarter—while mass baccarat held up better. Tourism & Hospitality: A 10-storey two-star hotel project in Patane got land concession approval, with the developer paying premiums and fees and a 60-month completion timeline. Local Business & Tech: MTel signed AI smart-care cooperation deals with Jiangnan University and a CAS-linked firm to build solutions for elderly care across Macau communities. Trade & Consumer Goods: The 2026 Guangdong & Macao Branded Products Fair runs Aug 6-9 at Cotai Expo, themed around silver economy and healthy living, aiming for business matching across the region. Skills & Culture: UTM said a student won silver in Restaurant Service at WorldSkills Australia’s Global Skills Challenge, while IC shortlisted 30 projects for the next phase of “Local View Power” film funding.

Macau Gaming Watch: DICJ data shows Q2 2026 GGR at MOP61.2bn, with VIP baccarat down 18.8% quarter-on-quarter to MOP15.9bn—its share slipping to 26.0%—as mass baccarat softens less sharply. Tourism & Hospitality: A 10-storey two-star hotel project in Patane got land concession approval, with the developer paying MOP32.47m in premiums and 60 months to complete. Industry Upgrading: CPTTM marked 30 years, saying it has supported 20,000 SMEs and pushed ISO/M-Mark certification, with a renewed push for AI and digital transformation. Smart Care & Telecom: MTel signed AI cooperation pacts with Jiangnan University and a CAS-linked firm to build an AI-powered smart care solution for Macau’s ageing population. Local Media & Film: IC shortlisted 30 projects for the second phase of “Local View Power,” with plans due by Aug 31. Public Services: EPD released new water quality grades for 39 gazetted beaches, with 9 rated Good, 22 Fair, 8 Poor and 1 Very Poor. Business & Culture: Macau will host the Asia’s 50 Best Bars ceremony again, with regional bar “guest shifts” set to bring industry buzz into the city. Skills & Training: UTM student Bianca Mak Correia won silver in Restaurant Service at the WorldSkills Australia Global Skills Challenge. Infrastructure Delivery: Egis-SMEDI JV won programme coordination for Hong Kong’s €4bn Sha Tin sewage works cavern relocation—relevant for regional engineering know-how. Entertainment Spotlight: Gong Yoo announced his first Asia fan meeting tour, including a Macau stop on Nov 7.

Tourism & Retail Policy: Macau’s Commerce and Investment Promotion Institute (IPIM) is pushing its “First-Store Economy” scheme, with Phase 2 applications due by 31 July, aiming to attract brands to open their first outlets in Macao and boost neighborhood retail and F&B employment. Gaming Compliance: The Gaming Inspection and Coordination Bureau (DICJ) met concessionaires over illegal livestreaming of casino sessions, stressing tighter internal controls, staff training, and closer coordination with the Judiciary Police to curb covert betting. Local Services & Transport: The government is expanding the concessionaire shuttle-bus “Leisure Bus Community Exploration Programme” to 14 routes and 10 drop-off points, extending service to 3 January and adding weekend and holiday coverage to better connect tourists with local communities. Cross-border Travel Boost: Hengqin rolled out RMB 10 million in consumption vouchers (via AlipayHK/MPay) through 30 Aug, targeting cross-border spending as passenger flows through Hengqin Port keep rising. Business Support & Skills: CPTTM marked 30 years by saying it has served 20,000 SMEs, including ISO certification support and large-scale training. AI for Care: MTel signed AI cooperation deals with Jiangnan University and research partners to develop smart elderly-care solutions for local communities. Creative Industry: IC shortlisted 30 projects for the second phase of “Local View Power,” with workshops and detailed production plans due 31 Aug. Public Health: Macau’s economic outlook stays moderate, with tourism recovery supporting growth but consumer demand still cautious.

Tourism & Mobility: Macau is pushing visitor spillover with an upgraded free “Leisure Bus Community Exploration Programme,” adding new one-way routes from Ruins of St. Paul’s and Rua do Cunha and expanding to 14 routes and 10 community drop-off points through early January. Tourism Demand & Cross-Border Spend: Hengqin rolled out fresh consumption vouchers worth up to RMB10 million with AlipayHK/MPay, aiming to lift cross-border leisure spending as passenger trips through Hengqin Port keep rising. Local Regulation: The Municipal Affairs Bureau (IAM) is consulting on tighter controls for paid “travel photography” at tourist sites, including registration deadlines, operator quotas, trading-hour limits, and mandatory ID badges. Macau Economy Watch: The Macau Economic Association expects moderate first-half growth of about 5% (GDP MOP209.5bn), with June gaming softening tied to the World Cup and cautious consumer spending. Retail & Luxury Signals: Richemont’s Q1 sales rose 17%, with jewellery up 24%—a read-through for Macau’s luxury retail ecosystem as Asia Pacific (including China, Hong Kong and Macau) continues to perform. Property & Finance: Macau’s mortgage and CRE lending data show new residential mortgage approvals down month-on-month in May, while CREL approvals fell sharply from a high base. Culture & IP Business: IC is taking Macao’s original IP brands to Shanghai’s Licensing Expo via a “Macao Creative Pavilion,” targeting international licensing deals. Waste-to-Value Tech: UM researchers say they’ve developed a sewage-sludge extraction technology that could reach commercialization within two years, supporting construction and fish-feed inputs.

Macao Tourism & Mobility: Macau will expand its concessionaire shuttle bus “Leisure Bus Community Exploration Programme” from this Friday, adding four new direct community routes (from Ruins of St. Paul’s and Rua do Cunha), a Fai Chi Kei drop-off point, and extending service to 3 January next year, with 14 routes and 10 community drop-off points. Luxury & Retail Signals: Richemont’s Q1 sales beat forecasts, with jewellery accelerating (up 24%), a read-through for Macau’s luxury demand cycle. Duty Free Performance: China Tourism Group Duty Free reported H1 net profit up 19.9% year-on-year, while revenue eased, highlighting selective consumer strength. Construction & Logistics: Shenzhen’s Pinghunan Integrated Logistics Hub is turning an old freight yard into a “logistics park built over a railway,” using smart warehousing and unmanned systems to boost land efficiency. Macau Finance Watch: J.P. Morgan flagged low expectations for Macau’s 2Q26 results, citing softer China consumer trends and weaker VIP/premium play. Local Media Production Funding: IC shortlisted 30 projects for the second phase of “Local View Power,” with workshops and production plans due by 31 August. Real Estate Lending: Macao mortgage approvals fell month-on-month in May, while CREL approvals dropped sharply, pointing to a cautious property credit tone. Aviation/Travel Branding: STARLUX’s Sorayama-themed A350-1000 made its North America debut in Phoenix, underscoring how airlines are selling branded experiences. Health & Biotech Deals: Innovent licensed IBI355 (SP001) rights to Spero for up to $1.1bn outside Greater China, a reminder of the region’s growing life-sciences deal flow.

Macau Gaming Outlook: J.P. Morgan says expectations are low for Macau’s 2Q26 results, forecasting industry GGR up just 3% year-on-year and flagging softer fundamentals tied to weaker VIP/premium play and the World Cup, with EBITDA estimates below Street for Sands China and MGM. Cultural & Creative Industries: The Cultural Affairs Bureau will stage the baby theatre work “Sounds of WOODerland” at the Macao Cultural Centre (Aug 5–10) and run an Aug 8 industry session to pitch and build regional collaboration. Public Tender Scrutiny: A new Cinematheque·Passion operator has won a two-year concession, but the shortened term and scoring weight for price have drawn criticism from local practitioners. Circular Economy & Waste Tech: UM researchers developed a process to extract valuable resources from sewage sludge, targeting commercialization within two years. Food Safety: IAM ordered “Healer Bar” to suspend operations after finding Salmonella in a follow-up sample, following earlier bacterial non-compliance. Greater Bay Area Skills: Zhuhai Lianzhou Airport launched drone pilot training for HK and Macau residents, aiming to feed demand in the RMB 300 billion low-altitude economy. Hospitality Inclusion: Galaxy Macau’s Galaxy Hotel, Galaxy Kidz and Grand Resort Deck earned Certified Autism Center™ designation, boosting accessibility credentials for the tourism sector.