AGP Executive Report

MICE Momentum in Macau: Macau’s non-gaming MICE sector kept climbing in 2Q26: 499 events were flat year-on-year, but participants and attendees jumped 37.6% to 314,000, lifting MICE-driven receipts to MOP1.59 billion (+54.8%). For 1H26, events held at 918 while participants rose 16% to 494,000 and receipts reached about MOP2.43 billion (+44.8%). Urban Planning & Land for Industry: Macau’s Urban Master Plan (2020–2040) amendment consultation is pushing for clearer “Priority Urban Renewal Zones” to tackle land constraints for industrial development, alongside ideas like housing-for-renewal transfer mechanisms and district-tailored fee waivers. Gaming Tech Push: US casino tech maker Acres Manufacturing says it has secured DICJ approval to become a licensed gaming machine manufacturer in Macau, betting on real-time player data and personalized incentives as operators face tougher competition. Digital Government with Industry Input: Macau’s policy ecosystem is also getting an AI boost, with Hong Kong’s Digital Policy Office event highlighting how industry can help reshape public service delivery—mirroring the broader regional push toward faster, smarter administration. Labour Rights Debate: A renewed call in Macau urges lawmakers to look beyond employer complaints and focus on domestic helpers’ rights and living conditions, as the sector’s minimum wage benchmark faces rising pressure.

MICE Momentum: Macao’s meetings, incentives, conferences and exhibitions hit 494,000 participants and attendees in H1 2026 (+16% y/y), with 918 events and non-gaming industry receipts up 44.8% to about MOP2.43 billion—showing stronger demand beyond gaming. Inclusive Skills & Jobs: The 4th Macau Abilympics wrapped up at USJ, with 117 participants and 156 entries across 14 categories, aiming to cut bias and push industry-linked hiring for people with disabilities. Urban Ecology Upgrade: IAM is starting phased works on Luís de Camões Garden to create the peninsula’s first “butterfly-friendly garden,” using host plants and nectar-rich flowers to support butterflies through their full life cycle. Policy Dialogue: Chief Executive Sam Hou Fai met Legislative Assembly members to gather views for the 2027 Policy Address, reaffirming the executive-led system and tighter executive-legislative interaction. Finance Watch: Monetary Authority data showed June 2026 new residential mortgage loans rose 30.9% m/m to MOP1.46 billion, while SME credit approvals fell 8.6% y/y in H1 2026 as loan balances declined. Retail Supply Chain: DFI Retail Group will be the exclusive wholesaler, distributor and franchisee for GNC across Hong Kong, Macau and Singapore, using Guardian’s distribution and logistics network. Tourism & Community Pressure: Lawmakers said Macao SMEs are still struggling despite record tourist spending, urging renewed consumption incentives and better transport to route foot traffic to community areas.

MICE Momentum: Macao’s meetings, incentives, conferences and exhibitions hit 494,000 participants and attendees in H1 2026, up 16% year-on-year, with 918 events broadly flat; non-gaming MICE receipts jumped 44.8% to about MOP2.43 billion, showing stronger spend per visitor. Property & Rents: DSEC data showed average residential rents edged down 0.1% quarter-on-quarter in Q2 2026, while shop, office and industrial rents also slipped, with industrial rents down 0.3%—a mixed signal for local demand. SME Credit Pressure: Monetary Authority figures point to softer SME lending in H1 2026: new SME credit approvals fell 8.6% to MOP4.5 billion, outstanding SME loans dropped 13.4% to MOP65.0 billion, and the delinquency ratio rose to 8.5%. Investment Push for “1+4”: IPIM reported 194 new investment proposals in H1 2026 (+7% y/y), with over 60% tied to “1+4” industries; big health projects surged over 60%. Retail Supply Chain Move: DFI Retail Group will be the exclusive wholesaler, distributor and franchisee for GNC across Hong Kong, Macau and Singapore, aiming to rebuild and expand access via Guardian. Hengqin Education Expansion: Macau’s Hengqin university town’s first transitional campus is set to start operations this month, with total investment around RMB18 billion and a focus on AI, robotics, microelectronics and IoT. Drug Law Update: Lawmakers approved adding 13 substances to Macau’s forbidden drugs list, targeting new vape/e-cigarette-linked risks.

MICE Momentum: Macao’s meetings, incentives, conferences and exhibitions climbed 16% year-on-year to 494,000 participants and attendees in H1 2026, with 918 events and non-gaming MICE receipts up 44.8% to about MOP2.43 billion; Q2 saw events steady at 499 but attendees jump 37.6% to 314,000 and receipts rise 54.8% to MOP1.59 billion. SME Credit Watch: Monetary Authority data shows new SME credit approvals fell 8.6% to MOP4.5 billion in H1 2026, while outstanding SME loans dropped 13.4% to MOP65.0 billion; delinquency ratio edged up to 8.5% as delinquent balances declined to MOP5.5 billion. Property Signals: DSEC reports average rents eased in Q2 2026—residential down 0.1% to MOP140 per sq m, shops down to MOP460, offices to MOP272, and industrial to MOP116. Policy & Diversification: IPIM says it received 194 new investment proposals in H1 2026 (+7% YoY), with over 60% tied to the “1+4” industries; big health projects surged over 60%. Drug Law Update: The Legislative Assembly unanimously passed urgent amendments adding 13 substances to Macau’s forbidden drugs list, including etomidate analogues (“space oil”), with e-cigarette/vape use highlighted. Tourism Promotion: MGTO stepped up Spain and Portugal outreach via trade visits and familiarisation trips, aiming for longer stays and higher spend.

MICE Momentum: Macao’s meetings, incentives, conferences and exhibitions climbed 16% year-on-year to 494,000 participants/attendees in H1 2026, with 918 events held; non-gaming MICE receipts jumped 44.8% to about MOP2.43 billion, as Q2 saw events steady at 499 but attendees surge 37.6% to 314,000 and receipts rise 54.8% to MOP1.59 billion. Property & Credit Pulse: DSEC data showed average residential rents edged down 0.1% quarter-on-quarter in Q2 2026, while Monetary Authority figures pointed to softer SME lending (new SME credit limits down 8.6% to MOP4.5b; delinquency ratio up to 8.5%) and a June rebound in new mortgage approvals (new RMLs up 30.9% month-on-month to MOP1.46b). Investment Drive for “1+4”: IPIM reported 194 new investment projects in H1 2026 (+7% YoY), with over 60% tied to the “1+4” industries—especially big health (+60%+) and modern financial services/high-tech growth—plus 133 projects completed creating 787 jobs. Retail Deal in Health & Wellness: DFI Retail Group will be the exclusive wholesaler, distributor and franchisee for GNC across Hong Kong, Macau and Singapore, using Guardian Singapore for sales and logistics after a court win in Singapore. Drug Control Update: Macau’s Legislative Assembly passed an urgent bill adding new substances to the anti-drug law, including etomidate analogues linked to “space oil.”

Macao Investment Push: Macao’s IPIM says it received 194 new investment proposals in H1 2026, up 7% year-on-year, with over 60% tied to the “1+4” industries—especially modern financial services, high-tech and big health. Property & Finance Pulse: DSEC data shows Q2 2026 average rents slipped slightly—residential down 0.1% QoQ, with industrial rents down 0.3%—while Monetary Authority figures point to softer SME credit approvals (MOP4.5b, -8.6% YoY) and a June uptick in new mortgage lending (RMLs +30.9% MoM). Retail & Distribution: DFI Retail Group will be GNC’s exclusive wholesaler, distributor and franchisee across Hong Kong, Macau and Singapore, using Guardian to rebuild access after a court win. Industry Innovation: Rodin Motorsport says it used CAD-driven engineering work to optimize performance for races held at Macau’s Guia Circuit, highlighting how advanced design tools support local engineering competitiveness. Health & Education Link: UM welcomed 6,000+ new students and reiterated its “one university, two campuses” model supporting the Macao-Hengqin education town.

Macao Economy & Property: DSEC data shows average residential rents slipped 0.1% QoQ in Q2 2026 to MOP140 per sq m, while industrial rents fell 0.3% QoQ to MOP116; shop rents eased too (down 1.5% QoQ to MOP460) but some areas saw mixed movement. SME Credit Watch: The Monetary Authority reports new SME credit approvals fell 8.6% YoY to MOP4.5b in H1 2026, with outstanding SME loans down 13.4% YoY to MOP65.0b; delinquency ratios rose to 8.5% as balances shrank. MICE Momentum: MICE activity held steady at 499 events in Q2 2026, but participants jumped 37.6% YoY to 314,000, lifting non-gaming MICE receipts 54.8% YoY to MOP1.59b. Housing Finance: June 2026 saw new residential mortgage loans rise 30.9% MoM to MOP1.46b, while outstanding RMLs edged down 0.5% MoM to MOP201.98b. Investment Push (1+4): IPIM says it secured 194 new investment projects in H1 2026 (+7% YoY), with 60%+ in “1+4” industries—big health up 60%+ and modern finance/high-tech also surging. Retail Deal: DFI Retail Group will be GNC’s exclusive wholesaler, distributor and franchisee across HK, Macau and Singapore, using Guardian for sales and logistics after a court win. Drug Control Update: Macau lawmakers passed an urgent bill adding multiple substances (including etomidate analogues) to the anti-drug law, effective the day after gazette publication. Hengqin Education Plan: Macau expects 18b yuan for the Macao-Hengqin International Education (University) Town, with phased facilities supporting UM, MPU and UTM. Tech & Cyber (Regional): Reports describe an autonomous AI-driven vulnerability hunting campaign targeting Taiwan government and energy entities—an industry reminder for cross-border security.

Cyber & Security: A China-linked, fully autonomous AI vulnerability-hunting attack hit Taiwan over four days, using eight open-source AI agents to breach government systems, compromise 85 accounts, and steal 2,500+ personnel records before expanding to the nuclear safety regulator and energy firms. Local Governance & Compliance: Macau’s Legislative Assembly passed an urgent bill adding 13 new substances to the anti-drug law, including etomidate analogues tied to “space oil,” with the change taking effect after Official Gazette promulgation. Education & Hengqin Investment: Macau expects to spend 18 billion yuan on the Macao-Hengqin International Education (University) Town, with phase 1 focused on transitional teaching and research facilities for UM, MPU and UTM. Business & Investment Promotion: IPIM says it attracted 194 new investment projects in H1 2026 (+7% YoY), with over 60% in “1+4” industries and strong momentum in modern financial services, high-tech and big health. Public Procurement Reform: A new Macau Public Procurement Law takes effect Sept 1, replacing decades-old rules and requiring clearer bidding criteria and evaluation methods. Tourism & Hospitality: Studio City Macau launched “Stardust,” a 4D immersive flying attraction, while ZAPE hotel occupancy stayed stable above 90% in 1H despite satellite casino exits. Industry & Infrastructure: Greater Bay Area projects keep moving, including major bridge construction progress and new cross-border trade ecosystem push in Nansha.

Macau Non-Gaming Diversification Push: Macau’s Chief Executive Sam Hou Fai says the SAR will invest MOP$130 billion (US$16.1b) over the next five years to lift non-gaming gross value added to about 60% of GDP by 2030, using a government-guided fund plus four major projects and stronger Hengqin links. Hospitality & Tourism Operations: W Macau – Studio City appointed Sammy King as General Manager, adding 38 years of hotel leadership experience to drive guest experience and operational excellence. MICE/Entertainment Upgrade: Studio City Macau rolled out “Studio City Stardust,” a 4D immersive flying attraction with motion seating and multi-sensory effects, designed for up to 72 guests per session. Food Safety Transparency: FrieslandCampina (Hong Kong) launched a test-report lookup system for Macau consumers, letting parents check batch-specific lab results after a lead limit issue triggered a product withdrawal. Urban Renewal & Building Safety: Transport and Public Works Secretary Raymond Tam inspected dilapidated buildings in the northern district, urging agencies to assess structural safety and clear hazards. Workplace Health Tech: MGM Cotai launched a TCM AI “health preservation” flagship station for worker wellness, combining digital screening with professional assessments and emotional interventions. GBA Trade & Logistics Ecosystem: A Guangzhou Nansha conference unveiled a cross-border trade industrial cluster platform and “Five-Port Synergy,” aiming to turn Nansha into a full supply-chain hub for customs, finance, warehousing, certification, commerce and logistics. Industry/Tech Spotlight: Rodin Motorsport used PTC’s Creo CAD to optimize Formula 3 aerodynamics for the Guia Circuit in Macau, balancing downforce and drag within strict FIA limits.

Non-gaming push: Macau will invest about MOP130 billion (US$16.1b) over the next five years to lift non-gaming sectors’ GDP contribution to around 60% by 2030, with a government-guided fund and four major projects aimed at diversification. MICE & tourism upgrades: Galaxy Entertainment Group reported Q2 net revenue up 6% and adjusted EBITDA up 9%, citing resilient visitation and non-gaming demand, while Studio City Macau unveiled “Studio City Stardust,” a 4D immersive flying attraction. Fintech & auto integration: Macau-based Key One (GAC Capital) says it will use cross-border finance to connect Greater Bay Area industries with global capital, focusing on hard tech like new energy vehicles and AI. Food safety transparency: FrieslandCampina (Hong Kong) launched a test report lookup system for infant formula batches after a lead limit issue in Macau. Workforce health tech: MGM Cotai hosted a TCM AI health station for worker well-being, combining digital screening with professional and emotional interventions. Cyber risk watch: Reports say China-linked hackers used autonomous AI agents to breach Taiwanese government systems, highlighting the growing threat to public-sector networks. Arts for families: The Macao International Children’s Arts Festival starts with “Stone Wolves,” a Portuguese puppet show encouraging kids to explore and question rather than receive fixed answers.

Macau Gaming & Tourism: Citi estimates Macau’s gross gaming revenue hit about MOP$6.6b in the first nine days of August, with a daily run-rate up 12% vs July, and points to a packed concert calendar (Tencent Music Entertainment Awards at Galaxy Arena, ITZY, Lay Zhang, (G)I-DLE) as a driver for further recovery. Macau Finance & Fintech: Galaxy Macau and Ant Bank (Macao) launched a “Financial Services Station” at the resort, bringing self-service banking plus online/offline consultations under one roof to push “Finance + Tourism” and deepen visitor engagement. Macau Capital Markets: The central government will issue 6b yuan sovereign bonds in Macao on Aug 20 for the fifth straight year, aiming to support the bond market and diversify Macao’s economy. Food Safety & Consumer Tools: FrieslandCampina (Hong Kong) rolled out a batch-based test report lookup system after Macau ordered withdrawal of a Frisolac Prestige Stage 1 batch over lead levels. Urban Renewal & Safety: Transport and Public Works Secretary Raymond Tam inspected dilapidated buildings in the northern district, urging thorough structural safety assessments and repairs to remove hazards. Local Policy Direction: Chief Executive Sam Hou Fai published a signed article on Macao’s Third Five-Year Plan (2026–2030), framing goals around law-based, vibrant, cultural, and “blissful” development. Regional Business Links: Hong Kong’s Think Business, Think Hong Kong symposium in Kuala Lumpur drew 1,600 leaders and 300+ tailored business matches, with a push toward the Greater Bay Area and cross-border growth. Wealth & Regulation Watch: China’s offshore trust clampdown adds a new tax layer on offshore trust income, with potential spillovers for cross-border finance hubs including Hong Kong and Macao. Cybersecurity: Researchers say AI-enabled hackers in Taiwan used autonomous open-source tools to compromise government accounts and extract personnel records, underscoring the fast shift in cyber warfare. Sports Incentives: The Hong Kong Jockey Club extended its Athlete Incentive Awards Scheme through 2028, covering major events including the Aichi-Nagoya Asian Games and the LA Olympics.

Food Safety & Consumer Trust: FrieslandCampina (Hong Kong) launched a batch-based test report lookup on its website after Macau ordered the withdrawal of Frisolac Prestige Stage 1 infant formula over lead levels, letting parents check professional lab results by product batch number (from July 2025 onward). Urban Renewal & Building Safety: Macau’s Transport and Public Works Secretary Raymond Tam inspected dilapidated buildings in the northern peninsula, urging agencies to assess structural safety and push repairs, revitalisation, and redevelopment to remove hazards. Local Talent & Fashion Manufacturing Skills: The Macao Student Fashion Creativity Competitions opened with 54 contestants from 22 schools under “Green City,” training students across design, merchandising tech, beauty/makeup, and illustration with a full garment-making pipeline focus. Fintech Meets Tourism: Galaxy Macau and Ant Bank (Macao) opened a “Financial Services Station” with self-service kiosks and consultations, aiming to deepen “Finance + Tourism” convenience for visitors. Gaming Revenue Watch: Citi estimates Macau GGR at MOP 6.6b for the first nine days of August, with a run-rate up year-on-year and expected support from major concerts and events. Digital Yuan Policy: The PBOC’s 2026-2030 plan formally places the digital yuan as a strategic priority, including domestic payment upgrades and cross-border RMB expansion.

Macau Gaming Pulse: Citi estimates Macau GGR at MOP$6.6b in the first nine days of August, a 12% higher run-rate than July, with VIP up 12–15% and mass up 10–12%, pointing to a recovery helped by major concerts and events. Public Finance: China’s Ministry of Finance and Macao SAR say 6b yuan of sovereign bonds will be issued in Macao on Aug 20 for the fifth straight year, aiming to deepen the bond market and support economic diversification. Fintech for Tourism: Galaxy Macau and Ant Bank (Macao) launched a “Financial Services Station” with self-service kiosks plus online/offline consultations and a new Galaxy membership push, betting on “Finance + Tourism” to lift visitor spending. Digital Yuan Policy: PBOC’s 2026–2030 plan puts the digital yuan as a core task, including domestic payment upgrades and an international push for cross-border RMB use. Local Industry Strategy: Chief Executive Sam Hou Fai published an article on Macao’s Third Five-Year Plan (2026–2030), stressing “high-quality development” and aligning with national strategy. Retail Expansion Signal: Gap is expanding in China with a localisation overhaul, opening 50 new stores in 2026 and returning to Hong Kong by year-end—an indicator of shifting consumer demand.

Macau Gaming Outlook: Citi estimates Macau GGR hit MOP$6.6b in the first nine days of August, a 12% higher run-rate than July, with VIP volumes up and mass GGR rising; Citi expects August GGR of MOP$23.5b as concerts (Tencent Music Entertainment Awards, ITZY, Lay Zhang, (G)I-DLE) lift demand. Fintech & Tourism: Ant Bank (Macao) and Galaxy Macau opened a “Financial Services Station” of self-service kiosks and consultations at Galaxy Macau, aiming to deepen “Finance + Tourism” and boost visitor spending via a new Galaxy membership push. Digital Yuan Push: The PBOC’s 2026-2030 plan puts the digital yuan on a strategic footing, with steady development at home and broader cross-border RMB use, plus progress on e-CNY interest and payment trials. Macao’s Bond Market: China’s central government will issue 6b yuan sovereign bonds in Macao on Aug 20 for the fifth straight year, supporting Macau’s bond-market growth and yuan-denominated investment options. Cross-border Business: The 2026 Guangdong-Macao Branded Products Fair drew 90,000+ visits, 460+ business-matching sessions, and 49 signed cooperation deals tied largely to Macau’s “1+4” industries. Cybersecurity & Tech Controls: US lawmakers urged BIS to clarify chip “foundry due diligence” rules after concerns chips ordered via Taiwan channels ended up in Huawei processors; separate news also flags China’s cybersecurity review of Palo Alto Networks products sold in China.

Macao-Hong Kong airport links: Operators are studying longer hours and possible overnight routes for Macau-Hong Kong Airport Direct buses as summer demand rises, with last year’s ridership up nearly 23% to 245,000 and international passengers climbing. Guangdong-Macao trade push: The 2026 Guangdong & Macao Branded Products Fair wrapped with 90,000+ visits, 460+ business-matching sessions and 49 cooperation deals, with about 90% tied to Macau’s “1+4” industries. Gaming & events in Cotai: Sands China says NBA China Games 2026 at The Venetian Macao will start ticket sales this Wednesday, while Inside Asian Gaming confirms the 2026 Asian Gaming Power 50 gala at Galaxy Macau’s JW Marriott ballroom (after party at The Ritz-Carlton). Fintech at Galaxy Macau: Galaxy Macau and Ant Bank (Macao) have launched a financial services station aimed at boosting tourism spending through fintech. IoT/AI industry tie-ups: Fibocom and Future Electronics deepened IoT collaboration across Australia and New Zealand, showcasing cellular modules and PCBA solutions. Cybercrime warning: Hong Kong police arrested a 67-year-old woman accused of posing as a tenant, taking early rent, then using rigged crypto apps to drain landlords’ e-wallets of HK$4.3 million.

Modern Finance in Tourism: Galaxy Macau and Ant Bank (Macao) opened a new financial services station at Taste of Asia, bundling self-service banking, consultations, fintech explainers and account opening, tied into a revamped Galaxy membership push. Trade & Retail Matchmaking: The 2026 Guangdong & Macao Branded Products Fair kicked off at Cotai Expo with a “silver economy” theme, signing 49 cooperation deals on day one and running 80+ activities across food, big health, sports and kitchen equipment. Food Safety Alert: Macau’s IAM urged residents to stop eating a specific “BONNE MAMAN” strawberry jam batch (glass-shard risk), and asked sellers to halt supply while contacting the food safety hotline. Cross-border Enforcement: Zhuhai Gongbei Customs seized 8,000 cigarettes at HZMB, reminding the public that cigarette exports require approvals and licences under China’s tobacco monopoly rules. Urban Planning for Diversification: Macau’s Sci-Tech Park working group held its first 2026 meeting, focusing on construction progress, investment promotion and reserving space for sustainable growth and talent attraction. Heat Preparedness: Home Affairs said 19 community halls will operate as temporary heat shelters during very hot weather warnings, with enhanced cooling, water and overnight refuge.