The Macau Metro Monitor. December 17th 2009.
MACAU TRADE WITH CHINESE INTERIOR RISES MORE THAN THREE-FOLD macauhub.com.mo
Trade between Macau and the Chinese interior has risen more than three-fold in the last ten years, totaling US$2.91 billion, according to the Chinese trade ministry. A Xinhua-published report also noted that since 2006, all products manufactured in Macau have been exempt from taxes, which “made industrial restructuring easier” for the territory.
Most of Macau’s banks now operate with yuan and, last October, deposits in the currency of the People’s Republic of China totaled US$258 million, according to the trade ministry.
MELCO SEEKS EXTENSION ON HK$1.2 BLN LOAN NOTE reuters.com
The parent company of Macau casino operator Melco Crown Entertainment is seeking to extend the maturity date of a HK$1.175 billion convertible loan due next September. The extension is being sought in order to ease its funding needs, according to the company.