AGP Executive Report

Tourism Surge: Macau logged 14.6 million visitors in Jan–Apr, up 13.1% year-on-year and hitting an all-time record for the period, with April alone at 3.44 million arrivals. Fuel Relief: After a diesel subsidy, the government will now subsidise petrol and LPG too, with discounts running from next Tuesday to July 25 to blunt global price swings. Aviation Boost: Hong Kong’s upgraded Terminal 2 is set to open May 27 after a HK$12.9b revamp, reinforcing the city’s push to stay a top regional aviation hub. Business & Trade Links: IPIM and Sichuan partners held a Chengdu seminar to help mainland firms expand into Portuguese- and Spanish-speaking markets, while Guangdong Customs unveiled 20 measures to speed up Greater Bay Area clearance. Tech & Delivery: Meituan says its drone delivery network has moved from testing to commercial service. Health & Education: UM’s Congregation 2026 is on May 30, and Macau’s radiotheranostics symposium drew 100+ researchers to discuss next steps for personalised cancer care.

Nvidia Smuggling Crackdown: Taiwan prosecutors detained three men over alleged forged export documents tied to AI servers with advanced Nvidia chips, with shipments reportedly routed via Hong Kong and possibly China—an escalation that also echoes a wider US export-control pressure. Casino Tech Push: Angel Group is preparing its AI “Bet Attributor” smart-table function for Asia-Pacific casino markets, aiming to directly track players and bets via table-mounted cameras. Leadership Change in Finance: Manulife Hong Kong and Macau named Wilton Kee as CEO effective 1 July 2026, replacing Patrick Graham as the insurer leans into regional growth. Public Health & Services: Macau’s lawmakers passed a bill to license “day hospitals” from Dec 1, expanding private outpatient surgical and specialty services beyond clinics. Local Economy Mood: A new FWD survey finds over 60% of Hong Kong and Macau residents feel financially anxious, with many saying rising living costs and medical expenses are driving worry. Travel Disruption: Hong Kong-Zhuhai-Macao Bridge authorities warn of heavy Buddha’s Birthday holiday traffic, urging travelers to avoid peaks.

APEC Security Clampdown: Drones are banned within a 500-metre radius of Macau Tower and Forum Macao during the 67th APEC Tourism Working Group Meeting (June 24–28), with penalties under Macau’s civil aviation law. Culture & Tourism Buzz: Lisboeta Macau drew K-pop fans to “Do it Again! H853 K-WAVE Fanfest,” while Shenzhen’s ICIF opened with a 300 sq m “Macao Pavilion” showcasing heritage, events and creative products. Community & Lifestyle: Sands Macao marked its 22nd anniversary by handing special lunch boxes to taxi drivers, and MUST’s “Legacy of Time” exhibition revisits Macau’s firecracker industry until August 31. Public Services Watch: The government says it’s still studying how a senior canteen plan in Seac Pai Van will work, after suspending an earlier pilot. Health & Safety: Macau’s tax rebate for 2024 (60% up to MOP 14,000) starts tomorrow, and PJ continues anti-scam pressure after a major cross-border crackdown. Sports Spotlight: Sands confirms the Macau Open Badminton returns June 16–21, with US$370,000 prize money.

Anti-Scam Crackdown: Macau Judiciary Police (PJ) joined forces with nine anti-fraud centres under the “FRONTIER+” platform, targeting cross-border scams and reporting 138,000 cases with losses above 6 billion patacas, plus 3,018 arrests and 102,000 bank accounts frozen. Fraud Takedown: PJ also arrested a mainland woman accused of cheating two illegal currency exchange dealers using counterfeit casino chips in Cotai, after the chips failed verification at the cage. Tax Relief Starts: A 60% rebate of 2024 personal income tax begins tomorrow, capped at 14,000 patacas per taxpayer, with about 1.04 billion patacas earmarked. Sports & Tourism Push: Sands China confirmed the return of the Sands China Ltd Macau Open Badminton 2026 (June 16–21) and PJ’s latest enforcement comes as Macau keeps leaning into “City of Sports” events. Public Consultation: The government launches a 40-day public consultation on Macau’s Third Five-Year Plan (2026–2030), running until June 28.

Tax Relief Starts: Macau will begin paying a 60% rebate of 2024 personal income tax from tomorrow, with a cap of 14,000 patacas per taxpayer and a total pot of about 1.04 billion patacas, via bank transfer or crossed cheques. Scam Crackdown: Judiciary Police stopped a mainland man from losing 1 million yuan to a “fake police” impersonation scam, and also flagged two more local victims who lost a combined 579,960 patacas. Judicial Links: Macau and Kazakhstan signed three criminal justice cooperation accords covering mutual legal assistance, extradition, and transfer of sentenced persons. Sports & Culture: Sands China’s Macau Open Badminton 2026 returns June 16–21, while MGM’s “HAHALULU” trend art exhibition has been extended to One Central Macau. Public Health Research: A new study tied to Macao Polytechnic University says “optimal” heart benefits may require 560–610 minutes of moderate-to-vigorous exercise weekly.

Tourism Push: Guangdong marked China Tourism Day with ten new measures to upgrade cities, corridors, facilities and inbound routes, rolling out 280+ local events and debuting four intangible-heritage markets. Health Watch: A new study from Macao Polytechnic University says “optimal” heart benefits may require 560–610 minutes of moderate-to-vigorous exercise weekly—far above the usual 150-minute target—sparking debate over whether the message is realistic. Border Enforcement: Zhuhai’s Gongbei Customs seized 67 hermit crabs hidden in a handbag, warning that bringing live animals into the mainland without approval is illegal. Macao Governance & Culture: IAM launched a new “Municipal Affairs in Service to the Public” webpage to boost access and participation, while the Macao International Children’s Arts Festival is set to expand to about 1,000 programmes and 300,000 participants. Food Safety: Macau’s authorities moved to stop sales of a Thai “Shredded Pork Stick” brand after Hong Kong food-safety data flagged excessive antioxidant levels. Gaming & Events: Galaxy Macau celebrated its 15th anniversary with a bottle-cap mosaic world record, and Sands Shopping Carnival booth registration opened for July 23–26.

Macau Gaming & Business: Asia Pioneer Entertainment (APE) is going “one-stop” for casino operations after signing a distribution deal with Germany’s CountR, adding cash-handling and redemption kiosks to its gaming portfolio—an expansion it says follows the launch of Bee Macau. New Openings: Galaxy Macau is set to debut Estuary by Vicky Cheng on May 29, its first French restaurant, as the resort doubles down on high-end dining. Local Governance & Transport: IAM will launch a new webpage, “Municipal Affairs in Service to the Public,” from May 19 to make municipal updates easier to track, while Friendship Bridge maintenance starts this Saturday with single-lane traffic through mid-August. Health & Safety: Macau has stepped up traveler screenings after WHO declared an Ebola public health emergency in parts of the DRC and Uganda, though officials say the immediate risk to Macau remains low. Sports & Culture: STAYC announces a fan concert tour that includes Macau on Sept. 26, and Macau’s Inclusion Conference & Festival drew about 300 participants at MGM Cotai.

Casino Tech & Expansion: Asia Pioneer Entertainment (APE) signed a distribution deal with Germany’s CountR, adding automated cash-handling and redemption kiosks to its gaming lineup, with rollout planned across Asian markets. Municipal Governance: IAM will launch a new “Municipal Affairs in Service to the Public” webpage from 19 May to make municipal updates and public participation easier. Industry-Academia Talent: UTM and Melco co-organised “Melco Day” at UTM Taipa, pitching cultural-tourism careers and featuring Lawrence Ho’s industry outlook. Gaming Credit Watch: Moody’s expects SJM’s earnings growth to stay modest through 2026-27 after the Casino L’Arc acquisition and table reallocation, while downgrading SJM’s rating to B1 with a stable outlook. Cross-border Lifestyle: Macau’s MGTO says the city won “Asia’s Best Luxury Destination 2026,” highlighting strong Russian arrivals and luxury trade efforts. Public Works: A 90-day Friendship Bridge maintenance project starts Saturday, cutting approach lanes from two to one and resurfacing worn sections.

Macao’s Luxury Spotlight: Macau was named “Asia’s Best Luxury Destination 2026” at LUXE Asia 2026 in Shanghai, with MGTO pointing to strong momentum—Q1 arrivals rose 13.7% to 11.21 million, including a 10.7% jump in international visitors and a sharp 84.5% surge from Russia. Gaming & Finance: MGM China shareholders approved a final HKD0.353 dividend per share for 2025, payable June 3, after a year of rising revenue. Health & Seniors: Hong Kong pushed a simpler eHealth app “Lite Mode” and support stations to close a gap—nearly all seniors are registered, but far fewer have activated the app. Policy & Rights: In Hong Kong’s Tiananmen activists trial, prosecutors argued freedom of speech is “not absolute,” as closing arguments began. Culture on the Ground: Macau’s Museum Day Carnival drew crowds with 26 museums and hands-on activities, reinforcing the city’s push to turn culture into everyday experiences.

Luxury & Culture Spotlight: Macau landed “Asia’s Best Luxury Destination 2026” at LUXE Asia in Shanghai, with Q1 arrivals up 13.7% to 11.21 million and a big Russian surge (+84.5%), while the Macao International Museum Day Carnival pulled crowds with 26 museums, workshops and performances at Praça dos Lótus. Public Health Alert: The Health Bureau urged travellers to stay vigilant over a hantavirus outbreak linked to an Atlantic cruise ship, citing WHO updates and advising extra hygiene and rodent avoidance. Civic Life: The Legislative Assembly’s Open Day drew 4,300 visits (+62.3%), and the National Security Education Exhibition set a new record with 70,496 visits. Business & Talent: The INCLUSION Conference & Festival starts today, and Macau’s Access Macau unit was unveiled to help international firms tap the SAR market. Regional Buzz: Hong Kong’s Chow Tai Fook opened its first global flagship store, underscoring the wider GBA luxury push.

Drug Innovation Push: Hong Kong is pitching itself as the “beating heart” of a global medical innovation ecosystem, with Financial Secretary Paul Chan pointing to IP protection, institutions, talent and capital—and linking the plan to the 15th Five-Year Plan’s push for faster pathways for innovative drugs. China-US Diplomacy: The Xi-Trump summit is being framed as a stabiliser, with officials stressing “constructive strategic stability” and harmony language as leaders try to manage differences. Expo & Connectivity: The 10th China-Russia Expo opened in Harbin, while China Telecom’s Asia Link Cable has landed in Hong Kong, boosting regional communications capacity. Macao Culture & Business: Macao kicked off its International Museum Day Carnival with 26 museums, and launched “Access Macau” to help international firms enter the SAR market. Local Economy Watch: Macao’s GDP rose 7.1% in Q1, but foreign exchange reserves fell 3.9% in April.

Macao Economy Update: Macao’s GDP rose 7.1% year-on-year in real terms in Q1 2026, with exports of services up 12.8% as visitor arrivals surged around Lunar New Year and other festive events. MICE Momentum: The MICE calendar stayed steady at 425 events, but attendance slipped 8.7% to 181,000; still, non-gaming MICE receipts climbed 29.4% to MOP841 million. Finance Watch: Macao’s foreign exchange reserves fell 3.9% in April to MOP232.8 billion, and the pataca’s trade-weighted effective exchange rate index also weakened. Cross-border Social Security: The Social Security Fund held Hengqin outreach sessions to roll out revised rules for Macao’s two-tier system, including new cross-border convenience measures for residents in the Cooperation Zone. Regional Context: Elsewhere in Asia, China-US leader talks were framed as “constructive strategic stability,” while Hong Kong pushed “security guarantees” and Shanghai accelerated international services—signals of a wider push for stability and smoother cross-border flows.

China-US Summit Update: Foreign Minister Wang Yi said Xi and Trump’s Beijing talks were “open, thorough, constructive and strategic,” producing shared understandings and a “historic meeting,” as both sides try to keep relations on steadier ground. Macao Economy: Macao’s Q1 GDP rose 7.1% year-on-year, driven by a jump in exports of services tied to visitor surges during Lunar New Year and festive events. FX Watch: Macao foreign exchange reserves slipped 3.9% in April to MOP232.8 billion, while the pataca’s trade-weighted index fell. MICE & Tourism: Macao and Hengqin won awards for annual meetings and innovative MICE policy support, pushing the “multi-venue event” model. Cross-border Social Security: The Social Security Fund held Hengqin outreach sessions to roll out new cross-border convenience rules for Macao residents. Tech & Connectivity: China Telecom’s Asia Link Cable landed in Hong Kong, a major step toward higher-capacity regional connectivity. Wealth Push: OCBC Hong Kong plans a bigger wealth-management drive, hiring 30–50 relationship managers in 2026.

Trump-Xi Fallout: President Trump said Xi’s response to his request to release imprisoned Hong Kong media tycoon Jimmy Lai was “not positive,” calling it Xi’s “worst nightmare,” as Lai remains in prison amid reports of harsh conditions. Macao Economy: Macao’s GDP rose 7.1% year-on-year in Q1, driven by a 12.8% jump in exports of services as visitor arrivals surged around Lunar New Year. FX Watch: Foreign exchange reserves fell 3.9% in April to MOP232.8 billion, while the pataca’s trade-weighted index slipped. MICE & Tourism Push: Macao and Hengqin won awards for annual meetings and innovative MICE policy support, backing the “multi-venue event” model. Local Services: The Social Security Fund held Hengqin briefings on new cross-border convenience rules, and Macao Water warned residents about fake SMS payment links. Sports Spotlight: In Manila’s Karate One-Youth League, Macau’s Hang Lao Cheok ended Eduardo Berco III’s run, leaving him seventh after a repechage push.

Telecom Milestone: China Telecom’s Asia Link Cable (ALC) has successfully landed in Hong Kong, a major step toward commercial operation and higher-capacity links across the region. Macao Economy: Macao GDP rose 7.1% in Q1, driven by stronger exports of services as visitor arrivals picked up. FX Watch: Macao foreign exchange reserves fell 3.9% in April to MOP232.8 billion, while the pataca’s trade-weighted exchange rate index weakened. Cross-Border Social Security: The Social Security Fund held Hengqin briefings to make the revised two-tier system easier for residents in the Cooperation Zone. Wealth Push: OCBC is expanding wealth management in Hong Kong, adding 30–50 relationship managers and launching a premier private client centre later this year. Tourism & Culture: MGTO won Asia’s Best Luxury Destination 2026 at PATA-related events, while WSP Inc. picked up a Stevie for media-relations innovation in Macau. Sports: Team China topped the Sanda World Cup medal table in Macao, and Karate One-Youth League saw Macau’s Hang Lao Cheok stop Eduardo Berco III just short of a podium finish.

Macau Gaming Finance: MGM China has completed a US$750 million senior notes issue due 2033, using most proceeds to cut revolving credit debt and fund general corporate needs, with Fitch last week flagging a “BB-” credit view but citing MGM China’s strong Macau position. Regional Competition: Okada Manila’s parent UEC says Manila gaming competition is intensifying, pushing up customer-acquisition costs as 1Q26 revenue and profit slid sharply. Sports-Plus Push: Mario Ho used the Asian IR Expo to argue Macau should pivot from gaming-only identity toward a “Sports Plus” model to pull in youth culture and high-value inbound tourism. Tech at G2E: LT Game showed its second-gen AI robot dealer “Samantha,” drawing overseas interest from South Korea and Europe. Transport Pulse: Macau’s LRT carried 9.62 million passengers in 2025, up 79%, with daily ridership peaking in February. Border Enforcement: Gongbei Customs seized 25 live ornamental fish at HZMB, warning against bringing live animals into the mainland without approval.