MSAR-China trade slumps 31.4 pct in November

Total trade value between the MSAR and Mainland China plunged 31.4 per cent year-on-year for the month of November 2016, totalling US$310 million (MOP2.5 billion) as the country’s exports to the city slumped, according to the latest official data released yesterday by the Chinese Ministry of Commerce.
During the month, China’s exports to the city amounted to some US$300 million, plunging 29.6 per cent year-on-year whilst the country’s imports from Macau declined 5.9 per cent year-on-year, amounting to some US$10 million.
However, on a month-on-month comparison, the total trade value of the parties represents a significant increase of 30.3 per cent. In particular, local exports to the Mainland surged 61.9 per cent while vice versa trade jumped by 29.3 per cent.
For the first eleven months of last year, the total trade value between the two parties recorded a decrease of 31.4 per cent year-on-year to US$3.01 billion. Of the total, China’s exports to the MSAR amounted to US$2.88 billion, plunging 31.8 per cent year-on-year, whereas the city’s exports to the Mainland dropped 22.5 per cent year-on-year to some US$130 million.
Meanwhile, 624 investment projects of Macau firms were approved by the Mainland authorities during the eleven months, surging 34.2 per cent year-on-year.
Nevertheless, total actual capital used on these projects by local companies decreased 11.8 per cent year-on-year to US$760 million.
As at the end of November, some 15,022 projects of local companies were green lighted by the Mainland government, with total capital used amounting to US$13.5 billion, accounting for 0.8 per cent of foreign direct investment that the country had attracted so far.
For the same eleven-month period, non-financial direct investment of Mainland companies in the Special Administrative Region totalled US$450 million whilst the accumulative amount reached US$2.2 billion as at the end of November.
In addition, Mainland Chinese companies were awarded 27 projects in the MSAR during the eleven months worth US$830 million. Total sales from the projects amounted to US$1.6 billion.
As at the end of the month, some 121,394 workers from the Mainland were working in the Special Administrative Region, said the ministry.