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Business Daily #1413 October 31, 2017

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China’s bureau of statistics to unify data from 2019 Regional figures Page 9Tuesday, October 31 2017 Year VI  Nr. 1413  MOP 6.00  Publisher Paulo A.…
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China’s bureau of statistics to unify data from 2019 Regional figures Page 9Tuesday, October 31 2017 Year VI  Nr. 1413  MOP 6.00  Publisher Paulo A. Azevedo Closing Editor Kelsey Wilhelm   IPOAsia Pioneer Entertainment lists on HK Stock Exchange Page 5See you… tomorrow! It is with a mixture of sadness and joy that we say goodbye to this newspaper, a project that has made a difference for five years in the Macau media landscape. But times change and so do societies. Macau is no different. The written press, especially the daily press, does not go untouched by technological advances and by the need for faster information, closer to us, just a click away, the push of a button. And that is why tomorrow we all welcome the Macau News Agency, the first independent news agency in the city. From now on, information will not take 24 hours to reach you. It's going to take minutes. Project Asia Corp. has made a strong investment in a new online news portal, which will start operating tomorrow, designed by us and built by Amazon, featuring all the contents of this media group. Starting with the Macau News Agency, which will report the most important events in town, but also in the region and in the world, thanks to partnerships with other news agencies. And everything for free. The group's magazines will soon have their current content available on the portal, and MB.tv will strengthen its local production of news, documentaries and events, while also including regional and international news. Closer to online TV from A to Z. Transformations are massive. And they must be, if this small media group wants to continue to resist in a land where occult interests continue to perpetuate, also in the media. Obscure businesses that seek to disrupt the scales of balance, preventing a more transparent access to the truth of the facts, facilitating the overlap of institutional "truths”. It’s the perpetuation of a more effective and camouflaged type of censorship, by occupying media spaces with highly subsidized products in a non-transparent, immoral – if not illegal - way, and thus trying to cover up the most independent voices. In the macaubusiness.com portal you will find everything at your fingertips: up-to-the-minute news by MNA, television products that will be extended to reports and talk shows on MB.tv, in addition to the group's magazines with more in-depth reporting. So we will meet again with our clients and readers on a much more powerful and interactive highway. Very soon. Tomorrow.TourismZhuhai aims to up tourist numbers to 75 mln by 2025 Page 3www.macaubusiness.com ALCross-straitLegislative Assembly proposes budget decrease Page 2Taiwan's Tsai bets on military development Page 10Looking to London InvestmentBrexit has led to a rush of real estate investors from the Greater Bay Area and mainland China. London calls and investors respond, due to the lower value of the pound, a transparent and robust legal system and historical data to benchmark property values. Some cases include legislator Angela Leong On Kei and Lai Sun development group. Page 6Keep on rollingA proposal for a mutual recognition system for driving licenses between the MSAR and the Mainland might not create a better system than currently exists, says Synergy Macao director. A small increase in drivers, if constantly on the roads, could mean a large increase in traffic locally, while demand for Mainland drivers to drive locally has in fact gone down in recent years. However, MSAR demand for driving in the Mainland is going up.HK Hang Seng Index October 30, 2017 28,336.19 -102.66 (-0.36%) Worst PerformersChina Mengniu Dairy Co Ltd+4.91%Want Want China Holdings+1.71%China Overseas Land &-0.78%Cathay Pacific Airways Ltd-0.64%China Shenhua Energy Co+4.12%Kunlun Energy Co Ltd+1.62%AIA Group Ltd-0.68%HSBC Holdings PLC-0.53%Tencent Holdings Ltd+3.91%China Merchants Port Hold-+1.29%MTR Corp Ltd-0.67%Cheung Kong Property-0.48%Swire Pacific Ltd+2.52%Hengan International Group+1.27%Hong Kong & China Gas Co-0.67%Bank of East Asia Ltd/The-0.45%Geely Automobile Holdings+1.98%Galaxy Entertainment Group+1.09%Power Assets Holdings Ltd-0.65%BOC Hong Kong Holdings-0.40%21°  24° 20°  26° 21°  27° 22°  28° 21°  25° TodaySource: BloombergBest PerformersWEDTHUI SSN 2226-8294FRISATSource: AccuWeatherTransportation Page 32    Business Daily Tuesday, October 31 2017MacauAnn O'Dea, CEO and co-founder of Silicon RepublicScience-technologyThe revolution is online and more than ready for diversity The head of Silicon Republic, a sci-tech media publisher headquartered in Dublin, Ireland, paid a visit to the MSAR on her way to Hong Kong to promote her company and the role of women in the field Sheyla Zandonai sheyla.zandonai@macaubusiness.comIt is “high time” to redress the question of the gender imbalance and skills gap that have been “historically” shaping many organizations and the sci-tech field in particular, states Ann O’Dea, CEO and co-founder of Silicon Republic, in an exclusive interview with Business Daily. Back in 2001, the Ireland-born journalist by training, co-founded an online media company specializing in science, technology, engineering, and mathematics (STEM) content at a time when “technology was exploding, becoming huge,” Ms. O’Dea highlighted. “All our competitors were in print, but all our readers were online. We were the only people that were very active online, and took off very quickly,” she explained to Business Daily. At the same time, while the big companies “born on the Internet,” such as Google and Facebook, were developing quickly, Ireland was taking a leading role in hosting such companies. “Ireland has always punched above its weight when it came to science and technology. We have all of the top ten technology companies, all of the top ten ‘born on the Internet’ companies, and we have nine out of ten of the top med-tech companies. And now we are getting a growing number of fintech companies coming to Ireland,” argued Ms. O’Dea. According to her, Silicon Republic is currently “one of the leading science and technologynews services in Europe,” publishing stories with international scope – “not only parochially local content” – also with a large readership in the U.S. The readership base of the niche publication accounts for about one quarter of a million readers, according to its co-founder. Although Ms. O’Dea believes Silicon Republic is “new” to Macau, she claims that people who have a link to Ireland, and who are based here, have heard about it.First-time Asian reachThis trip marks the first time the Irish sci-tech media entrepreneur has come to Asia for business, invited by the Consul General of Ireland, Peter Ryan. In Macau, Ms. O’Dea was toured around and met individuals in the fields of media and creative industries, as well as fellow Irish nationals. She headed to Hong Kong yesterday afternoon, where she is holding the Inspirefest salon. “Maybe we’ll do one in Macau next year. It booked out immediately [in Hong Kong]. I think that there is a hunger for strategies around diversifying your talents and your workforce,” explained Ms. O’Dea. Ms. O’Dea explained to Business Daily that Inspirefest had another impact on the outreach of Silicon Republic, by enabling the publisher to commence internationalizing “more and very quickly.” The first salon taking place in Hong Kong tomorrow, November 1st, is a one-evening event bringing together some 150 participants in a combination of entrepreneurs,academics, and media. Bridging a communityAnn O’Dea is a pioneer in many fields. Inspirefest was born out of smaller events that the publisher had been regularly organizing for leaders, when they would invite visiting speakers. In 2015, they decided to change the strategy, by concentrating efforts into one large annual event held in Dublin, sided by ‘salons,’ such as that being held in Hong Kong tomorrow. From January to March of next year, Inspirefest salons will be held in major worldwide cities and capitals, in San Francisco, New York, London, Berlin, and Paris. Inspirefest’s mandate is to promote women as role models in the industry. As such, the media sci-tech guru is also leading a gender revolution in the field, having assigned herself the mission of gathering leading women in STEM, such as scientists, technologists, astronauts, physicists, and putting them in the spotlight to show their work and inspire new generations. It is about building a community, and “trying to build bridges and ensure that remarkable women in particular are connected,” she told Business Daily. Inspirefest’s mandate is, thus, to reverse what Ms. O’Dea claims is a male-dominated field, while aiming to generate more diverse input in the knowledge industries. “It is that diversity, and cognitive diversity, a diversity of thought that you get with different backgrounds that we believe creates more innovative services andproducts,” she argued. “I travel around the world going to technology and science events, and they tend to be 90 to 95 per cent […] men on stage, which I found very frustrating, and my co-founder is a man, and he finds it very frustrating,” she points out.Marking the trendsReflecting more specifically on the Chinese case, Silicon Republic’s CEO said there is no doubt that e-payments are one of the most obvious and massive trends. “We are heading towards a cashless society. At its most basic level, that is huge, but then the other big trend is data analytics and data science, and customer profiling,” she added. To Ms. O’Dea, the types of technology leading the “ongoing fintech revolution,” and worth keeping an eye on, are those related to “very sophisticated data science tools.” The big trends that matter in that regards “all relate,” according to her, to blockchain, fintech itself, artificial intelligence and robotics. In order to allow those developments to continue, she argued that there is a constant need for “incredible software developers that will work with financial experts, so that you have the technology and the financial experts coming together and creating phenomenal products we will all be using in five year’s time.” “You really need people with backgrounds in anthropology, in physics, in mathematics, they are the kinds of talents you need,” she pointed out.PoliticsAL proposed budget slightly lower Th e p r o p o s e d L eg i s l at i v e As s e m b l y b u d g e t for the 2018 financial year is set at MOP184.63 million (US$22.98 million), a decrease of 0.71 per cent year-on-year, or MOP1.32 million less, when c om p ar ed t o th einitial proposed AL budget for 2017. When the new proposed budget - which will be debated at the AL on November 6 - is compared to the revised 2017 AL budget, the amount is 0.84 per cent lower year-on-year.The new proposed budget f o r p e r s o n a l ex p e n s e s was reduced by 0.69 per cent, to MOP139 million, whi l e expe nses for the p u rchas e o f g o o ds a n d services were reduced by 10 per cent to MOP27.53 million, with the proposaldocument stating that this lower amount was d u e t o f e w e r c o n t racts for ‘studies, consultancy and translation’ and for ‘technical and specialized publications’. M ea n w hi l e, th e l a rgest increase was for theproposed budget for capital expenses, which was increased by 106.2 per cent to MOP5.98 million in order to ‘in 2018 replace air conditioning equipment in use for more than ten years, and for some smaller re-works’. N.M.Business Daily Tuesday, October 31 2017    3Macau TourismCuisineBlowing upEating well, on a budgetZhuhai has approved a plan to better integrate the city's tourism with Hong Kong and the MSAR, with the goal of seeing the Chinese city’s tourism numbers go from 39 million last year to 90 million by 2030A total of nine restaurants in the MSAR received the Michelin Bib Gourmand awardThe Zhuhai Government has approved a plan to better integrate its tourism with Macau and Hong Kong and develop the city into a coastal tourism destination with around 90accelerating efforts to build a system of tourism transporta-tion, facilities, and information; implementing collaborative communication about tourism policies, institutions, and management; and increasing the flow and integration of talent, technology, and capital.Nine restaurants in the MSAR and 73 in Hong Kong have received Michelin’s Bib Gourmand award, provided to restaurants offering a quality three-course menu for a maximum of HK$400 (MOP410/US$51), the company revealed yesterday. This is a drop from the 12 localrestaurants: Cheong Kei and Luk Kei Noodle; one Shanghainese restaurant: Din Tai Fung at City of Dreams; one Portuguese style restaurant: Castiço; and the Macanese style Institute for Tourism Studies (IFT) Educational Restaurant. “The selection highlights the richness of the local culinary scene and the quality of Cantonese cuisine […] Our inspectors have discovered moremillion visitors and RMB110 billion (US$16.6 billion) in tourism revenue by 2030, the city’s government has revealed. The Zhuhai Tourism Development Overall Plan Revision (2016-30) approved by the city’s government on October 25 - will look to enhance the city’s characteristics of urban leisure, sports, cultural, countryside, and hot springs tourism, integrating them with its existing marine islands, theme parks, festivals, contest events and MICE (Meetings, Incentives, Conventions and Exhibitions) services. In order to integrate the city’s tourism with the Greater Bay Area, the city will attempt to implement the plan in four steps, including: focusing on the joint development of tourism resources, products, and markets;These measures will be enacted in stages defined by tourist numbers, with 50 million tourists expected by 2020 and 75 million by 2025, and with tourism revenue expected to reach RMB45 billion and RMB80 billion respectively in these two periods. According to the Zhuhai government numbers, the city received around 39 million tourists last year, an increase of nearly 50 per cent when compared to numbers seen in 2011, but with the average annual growth rate in domestic tourist numbers being just over 10 per cent. A Framework Agreement on Cooperation in Tourism was signed in July of last year between Zhuhai, Hong Kong and Macau in order to integrate regional tourism development.Macau restaurants that received the award last year, but an increase from the 63 Hong Kong restaurants awarded in the previous edition. The maximum price set for last year was HK$300. The awarded Macau establishments this year include four Cantonese style restaurants: Chan Seng Kei, Hou Kong Chi Kei, Lou Kei at Fai Chi Kei and Tou Tou Koi; two noodlelocal gourmet offerings including Cantonese stir fried, congee & noodles and dim sum at attractive prices,” stated Michael Ellis, the International Director in charge of the Michelin Guides. The Michelin Guide Hong Kong Macau 2018 will be revealed on November 30 of this year, with last year’s editions having starred 19 restaurants in the MSAR. N.M.Nelson Moura nelson.moura@macaubusinessdaily.comNelson Moura nelson.moura@macaubusinessdaily.comadvertisement4    Business Daily Tuesday, October 31 2017MacauTransportationMutual imbalance Director of local association questions actual demand for mutual recognition of driving licenses between MSAR and Mainland drivers Cecilia U cecilia.u@macaubusinessdaily.comRather than altering the current methods for obtaining driving licenses in the MSAR and on the Mainland, keeping the same measures would be more appropriate, according to Ron Lam U Tou, director of local association Synergy Macao. The director also noted that the government has yet to provide solid numbers indicating growing demand for drivers from both regions wanting to be allowed to drive in both regions. “In my opinion, it is more appropriate to maintain it as it is now, with MSAR drivers to take the driving test in Mainland to get the Chinese driving license,” said Lam. Last Thursday, the Transportation Bureau (DSAT) head Kelvin Lam Hin Sang said the government is studying the potential implementation of a mutual recognition system for driving licenses between the city and mainland China.Drivers could obtain car licences from the Mainland without needing to take any driving test, while Mainland drivers would be allowed to drive in Macau with Mainland driving licenses and a stay permit. The DSAT head cited that the number of Macau residents taking the driving test in the Mainland has been increasing since 2014, from 3,000 in 2014 to potentially 6,000 this year. However, Ron Lam pointed out that the government should provide more solid data. “Most importantly is how many Chinese drivers have obtained a Macau license and how often do they drive in Macau [...] what is the percentage of the total driving population in the city [and] vice versa for Macau drivers,” said Lam. Lam remarked that he does not see an urgency to roll out the policy, given the declining number of Mainland drivers applying for Macau driving licenses, as revealed earlier by the DSAT head. M ea n w h i l e, i n l i g h t o f th e advertisements o o n -t o -b e-c o m p l e t e d H o n g Kong-Zhuhai-Macau Bridge, as well as the integration of the city into the Greater Bay Area development plan, Lam said the development of the Greater Bay Area is not aimed at attracting more Chinese nationals to come to Macau, but it will if the mutual recognition of licenses is implemented. “People can still take the driving test in China,” said Lam. “People don’t have big objections to taking the test.” On the other hand, while the DSAT head stated that the driving test in the Mainland is getting stricter, Lam refuted that “it is not a supporting point if the policy is to be rolled out because the recognition will be implemented to any of those who had obtained the license anytime.”RisksThe association head said it is necessary to take the test, given that the driving conditions and requirements in the Mainland are different from those in Macau. “It would be safer to take the test for me,” remarked Lam. “Since China is not included in the [international] Convention on Road Traffic, I would feel worried […] because the driving habits between the two regions are very different.” Mutual recognition of driving licenses has already been in place for over a decade in Hong Kong, with Lam citing that there was a 0.5 per cent increase in car accidents that involved Mainland drivers in Hong Kong during the period from 2013 to 2015. “In Hong Kong, the number of accidents involving Mainland drivers went up 0.5 per cent in three years [...] in that sense would even just a 1 per cent change in Macau be too big when compared to Hong Kong?” questioned Lam. According to the information provided by the Hong Kong Secretary for Transport and Housing of the neighbouring MSAR during 2013, there were between 10 to 35 Mainland driving license holderswho had applied for Hong Kong’s full driving license per year under the direct issue, equivalent to an average rate of 0.34 per 1,000 of such licence holders. Meanwhile, legislator Zheng Anting suggested the introduction of short preparation courses in hourly blocks, for Macau residents who are interested in driving in the Mainland, if feasible. However, he pointed out that “other regions which are also implementing similar mutual recognition of licenses do not have similar training”.More trafficAlthough the DSAT head said the traffic in the city is under control, citing that the number of vehicles on the road is declining, many are still skeptical about whether the city can accommodate more drivers from the Mainland. Although perceiving that the number of Mainland drivers coming to Macau would not see significant growth, Lam said the impact would be notable despite only being a small increase. “Although the number [of Mainland drivers applying to drive in Macau] might not be significant, these people migh
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