AGP Executive Report

Greater Bay Area: Chief Executive Sam Hou Fai urged businesses to invest across the region, saying Macao would advance its “1+4” diversification strategy while strengthening tourism, traditional Chinese medicine, finance, technology and conventions. Guangdong, Hong Kong and Macao officials also pledged closer cooperation, with a regional science forum highlighting new support for research infrastructure and innovation. Cross-Border Access: Guangdong has launched a design tender for a new joint checkpoint linking the University of Macau campus directly with Hengqin, potentially making daily travel between the two easier. Economic Outlook: Macao’s October casino revenue fell 10% year on year to MOP21.68 billion, marking a fifth straight monthly decline. GDP grew 2.9% in the first nine months, though third-quarter growth was just 0.1%.

Cross-Border Links: A design tender has been launched for a new joint checkpoint connecting the University of Macau campus directly with Hengqin, potentially easing movement between the campus and the cooperation zone. Economic Outlook: Macau’s economy grew 2.9% in the first nine months, but third-quarter growth was just 0.1%; October casino revenue fell 10% year on year to MOP21.68 billion, its fifth consecutive monthly decline. Budget and Services: The 2027 budget, including cash payouts, has advanced for review. The government also plans to merge culture and sports into a new bureau next month. Regional Cooperation: Chief Executive Sam Hou Fai pledged to deepen Guangdong-Hong Kong-Macao science and technology cooperation and promote higher-quality development.

GBA Innovation: Chief Executive Sam Hou Fai used the Greater Bay Area Science Forum in Guangzhou to pledge deeper cooperation and research links, as national agencies announced 40 measures to build the region into an international science and technology hub. Gaming Downturn: Macau casinos took MOP21.68 billion in October, down 10% year on year despite Golden Week. An analyst expects another decline in November, citing weak high-end demand. Economic Picture: Macau’s GDP grew 2.9% in the first nine months of 2026, but just 0.1% in the third quarter.

GBA Innovation: Chief Executive Sam Hou Fai said Macao will deepen regional science and technology cooperation at the Greater Bay Area Science Forum in Guangzhou. National agencies unveiled 40 measures to build the GBA into an international innovation hub, alongside two research programmes and a platform to connect research with businesses. Gaming Revenue: Macao’s casinos took in MOP21.68 billion in October, down 10% year on year despite Golden Week and marking a fifth consecutive monthly decline. The monthly total rebounded 20% from September.

Regional Cooperation: Chief Executive Sam Hou Fai pledged deeper Guangdong-Hong Kong-Macao science and technology cooperation at a Greater Bay Area forum in Guangzhou, highlighting shared innovation resources and closer links between research and industry. Economic Outlook: Macao GDP grew 2.9% in the first nine months, but rose just 0.1% in the third quarter as gaming-services exports declined. October casino revenue fell 10% year-on-year to MOP21.68 billion, its fifth straight annual drop despite Golden Week. Policy Agenda: Sam is due to deliver Macao’s 2027 Policy Address on November 16, with growth and economic diversification among the key challenges facing the government.

Economic Outlook: Macao’s GDP grew 2.9% year-on-year in the first three quarters to MOP316.13 billion, but growth slowed to 0.1% in Q3. Gaming-service exports fell 4.8%, while other tourism services rose 6.6%, pointing to an uneven recovery. Diversification Policy: The government has agreed to establish a MOP20 billion guidance fund with integrated-resort operators, including MOP9 billion in private backing. Casinos are also contributing about US$1.1 billion to diversification efforts. Chief Executive Sam Hou Fai will deliver the 2027 Policy Address on November 16. Regional Role: Macao will host an international forum on mutual learning among civilizations on November 9-10, including sessions on China-Portuguese-speaking country ties and cultural exchange in the AI era.

Economic Outlook: Macao’s GDP rose 2.9% in the first nine months of 2026, but growth slowed to 0.1% in the third quarter. Gaming services fell 4.8%, while other tourism services grew 6.6%. Policy Agenda: Chief Executive Sam Hou Fai will deliver the 2027 Policy Address on November 16. He said the Communist Party’s latest plenary session offers lessons for civil-service development and public administration reform. Jobs: Local unemployment eased to 2.3% in July–September, while underemployment held at 2.0%. Economic Diversification: The government has signed an agreement to establish a MOP20 billion guidance fund for industrial enterprises, with MOP9 billion in private backing.

Public Administration: Chief Executive Sam Hou Fai said the government would study and apply the ruling Communist Party’s latest plenary decisions, which he said offer guidance for civil-service development and public administration reform. Economic Outlook: Macao’s economy grew 2.9% in the first three quarters of 2026, while local unemployment fell to 2.3% in July–September. Third-quarter growth was just 0.1%, with gaming-service exports down 4.8%. Diversification Fund: The government’s MOP20 billion fund for emerging industries and economic diversification will receive MOP9 billion from the six casino concessionaires, counted toward their investment commitments. Policy Agenda: Sam is due to deliver his 2027 Policy Address on November 16.

Economic Outlook: Macao’s GDP grew 2.9% in the first three quarters of 2026, though third-quarter growth slowed to 0.1% and gaming-service exports fell 4.8%. Overall unemployment eased to 1.8%, while the local-resident rate dropped to 2.3%. Policy Agenda: Chief Executive Sam Hou Fai said the government would put the latest Communist Party plenum’s priorities into practice. He is due to deliver Macao’s 2027 Policy Address on November 16. Diversification: The six gaming concessionaires will contribute MOP9 billion to a new MOP20 billion government Guidance Fund for emerging industries and economic diversification. Urban Renewal: The government will survey 292 buildings in the old Laahn Gwai Lau district to assess their condition, as it advances a final proposal to amend the urban master plan.

Central Policy: Chief Executive Sam Hou Fai says Macao will put the Communist Party’s fifth-plenum directives into practice, with a focus on civil-service development and public-administration reform. Economic Diversification: Casino operators’ MOP9 billion contribution will provide nearly half the planned MOP20 billion Guidance Fund. CBRE says it counts toward concession commitments, but may also feel like a one-off tax; faster investment could ease operators’ costs over time. Urban Renewal: The government will survey 292 buildings in the old Laahn Gwai Lau district next week, starting a pilot for wider checks on ageing neighbourhoods. Community Spending: From November 1, an expanded rewards scheme will offer residents and visitors discounts for taking part in local tourism, cultural and sporting activities. Policy Agenda: Sam is due to deliver Macao’s 2027 Policy Address on November 16.

Urban Planning: Macao has presented its final proposal to amend the 2020–2040 urban master plan, following public consultation. The changes would make room for three major projects, including a science and technology park and an international aviation hub; district development plans are due next. Central Government Ties: Chief Executive Sam Hou Fai expressed condolences over the death of former Vice-Premier Liu Yandong, who supported Macao’s development while overseeing Hong Kong and Macao affairs. Policy and Budget: Sam will deliver his 2027 Policy Address on November 16, with the budget and gaming revenue expected to feature. A 2027 budget with cash payouts has also advanced to review. Economic Diversification: The six casino operators have committed MOP9 billion to a government guidance fund targeting MOP20 billion to support new industries. Government Restructuring: Culture and sports are set to merge into a new bureau next month.

Urban Planning: The government has submitted its final proposal to amend Macao’s 2020–2040 master plan after public consultation. Changes would reserve land for three major projects in integrated tourism and culture, technology research and aviation; district-level plans are expected to follow. Policy Agenda: Chief Executive Sam Hou Fai will deliver the 2027 Policy Address on November 16. The 2027 budget, which includes cash payouts, has advanced to review. Economic Diversification: Six casino operators have signed agreements supporting a government guidance fund, with MOP9 billion in private backing toward a MOP20 billion pool for new industries. Government Structure: Culture and sports are set to merge into a new bureau next month. Tourism and Jobs: Visitor arrivals rose 8.5% through September, while the Labour Affairs Bureau says retirees aged 65 and over made up 10% of jobseekers last month.

Regional Integration: Guangdong’s new online registration service lets Hong Kong and Macao investors set up businesses across the Greater Bay Area’s nine mainland cities without paper documents, easing cross-border market entry. Public Administration: Macao’s new Cultural and Sports Bureau and unified fund begin operating on Nov. 1, merging four existing bodies to streamline services and support economic diversification. Policy & Budget: Chief Executive Sam Hou Fai will deliver the 2027 Policy Address on Nov. 16, while the 2027 budget, including cash payouts, advances to review. Economic Diversification: The six casino concessionaires have committed MOP9 billion to the government’s MOP20 billion guidance fund for investment and diversification. Accountability: The CCAC has completed an inquiry into the Sports Bureau’s supervision of fitness centres.

Government Restructuring: A new Cultural and Sports Bureau and unified fund will launch Nov. 1, merging four existing bodies to streamline services and support economic diversification. Policy Agenda: Chief Executive Sam Hou Fai will deliver Macao’s 2027 Policy Address on Nov. 16, followed by a lawmakers’ question session and policy-secretary budget debates. Oversight: The CCAC found negligence by the Sports Bureau in supervising fitness centres, including seven cases that saw no fines or follow-up after enforcement procedures began. Economic Diversification: Six casino operators are backing a government guidance fund worth MOP20 billion, with MOP9 billion in private contributions, to support new industries. Tourism and Gaming: Visitor arrivals rose 8.5% to 32.2 million in the first nine months, while gaming revenue grew just 3.2%; September arrivals climbed even as casino revenue fell for a fourth straight month year on year.

Government Oversight: Macao’s CCAC found “clear” negligence and omissions by the Sports Bureau in supervising fitness centres, saying seven of nine suspected violators received no fine notices or follow-up after proceedings began in 2024. Policy Agenda: Chief Executive Sam Hou Fai will deliver his 2027 Policy Address on November 16, followed by a lawmakers’ question session the next day and policy-secretary debates from November 20. The address is expected to set out next year’s gaming-revenue target and welfare measures. Economic Diversification: The government signed agreements with Macao’s six casino operators to establish a MOP20 billion guidance fund, backed by MOP9 billion in private contributions, to support new industries. Urban Planning: The Lands and Urban Construction Bureau reported broad public support for revisions to Macao’s 2020–2040 master plan, based on 4,091 submissions; consultation feedback focused on major projects, land allocation and the city’s future development.

Policy Address: Chief Executive Sam Hou Fai will present Macao’s 2027 Policy Address to the Legislative Assembly on November 16, followed by a press conference and a lawmakers’ Q&A the next day. Legislative debates on the five policy portfolios are scheduled for November 20–30. Economic Diversification: Macao has launched a MOP20 billion Government Guidance Fund, with MOP11 billion from fiscal reserves and MOP9 billion pledged by the six casino operators. The fund will back emerging industries, technology start-ups and research commercialisation. Urban Planning: The government says residents broadly support proposed amendments to the 2020–2040 urban master plan. A public consultation gathered 4,091 opinions and suggestions, with participants focused on major public works, land allocation and the city’s future development.