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Finance
gaming
More work still has to be done for Macau to establish a securities market despite support from Beijing
The three casinos in Portugal are big business for Stanley Ho and STDM in Europe. With the concession expiring in 2020, with no possible extension, STDM fears the new, international tender signals the end of a 60-year relationship
14 Diversification opportunity knocking
business
18 Power to the people
Riding on the wave of the sharing economy across the border, a local start-up offers a portable power bank rental service for travellers and residents to power up their mobiles
Report
24 An overview of Macau’s start-up ecosystem
Ur b a n P l a n n i n g
40 Missing piece of the puzzle
The city still awaits the Urban Master Plan, which the government has failed to deliver as originally pledged, with the public thus knowing little about any progress
property
46 Choose your pick
Gov’t proposes two sets of pricing policy for economic housing
50 2020, Stanley Ho’s second headache
Tourism
54 World Tourism Council advises Macau...
When the indicators are tourism and travel Macau sweeps the board, even when compared to mega cities like London and Beijing. The indications are that it will continue to do so. But as the World Tourism and Travel Council warns this will only increase dependence upon the local economy
58 Integration Island
Attracting over 10 million travellers for the first time last year, the theme park developed by Chimelong Group on Hengqin Island will add three major attractions this year to boost traffic
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Research Corner
opinion
Postcolonial museums are contributing to a rethink on national identity locally in Hong Kong and Macao, says study involving IFT alumna and IFT scholar
23 Jeffrey Frankel
62 Role of local museums in (re)constructing national identity
Special report
65 Hengqin, our precious neighbour
china
88 Three decades of pain
Families of Tiananmen dead demand truth
a r t s & c u lt u r e
94 World premiere concerto and ethnic mood to close season
The 2018-2019 season of the Macao Chinese Orchestra will come to an end in July with the world premier of the Suona Concerto and three other pieces, including The Mohe Tribe Suite
96 Romantic end to the season
As the 2018-2019 season comes to its end, piano virtuoso Kirill Gerstein joins the Macao Orchestra for a romantic concert featuring Schubert and Rachmaninoff works
10 Paulo A. Azevedo Waste of time
The real cost of Trump’s tariffs 33 Yasheng Huang Can the Belt and Road become a trap for China? 38 JosÊ I. Duarte Transition time 64 Keith Morrison Making the familiar strange 87 Nouriel Roubini The global consequences of a Sino-American cold war 92 Andrew Sheng and Xiao Geng How will the US-China trade war end? 102 Stephen S. Roach Japan then, China now
Founder and Publisher Paulo A. Azevedo
VOL.1 Nº182
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Special Projects Coordinator João Paulo Meneses jpmeneses@macaubusiness.com
Senior Reporter Tony Lai
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Group Senior Analyst José I. Duarte jid@macaubusiness.com
Project Asia Corporation Director Victoria Man victoria@projectasiacorp.com
Events and Communication Director Hélder Beja helderbeja@macausignature.com
Assistant to the Publisher Elsa Vong
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Graphic Design Connie Chong, Luís Almoster design@macaubusiness.com
Photography António Mil-Homens, Carmo Correia, Cheong Kam Ka, Gonçalo Lobo Pinheiro, Luís Almoster, Ruka Borges, Agencies Illustration Rui Rasquinho Social Media James Chao
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Contributing Editors Ana Tique, Edwina Liu, Emily Pottier, João Francisco Pinto, Mandy Wong, Nelson Moura, Sheyla Zandonai, Stefan Kuehn, Vítor Quintã, Yi Wei Wong Regular Contributors André Ribeiro, Branko Milanovic, David Cheung, Dominique Moisi, Eswar Prasad, Hideaki Kaneda, José António Ocampo, José Sales Marques, Joseph Stiglitz, Keith Morrison, Kenneth Rogoff, Kenneth Tsang, Martin Roll, Marvin Goodfriend, Pan Yue, Paulo J. Zak, Peter Singer, Rodrigo de Rato, Robert J. Shiller, Sin-ming Shaw, Sudhir Kalé, Sun Shuyun, Vishakha N. Desai, Wenran Jiang Advertising José Reis
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Xu Yu, Irene
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James Chao
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Strategic Marketing Partner Derrick Tran derrick.tran@projectasiacorp.com
Translations PROMPT Editorial Services, Poema Language Services Ltd, TLS Translation and Language Services Agencies AFP, Lusa Exclusives Project Syndicate Printed in Macau by Welfare Ltd Published every month in Macau. All Rights Reserved. Macau Business magazine is a media product of De Ficção - Multimedia Projects
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By José I. Duarte
Goals for Urban Master Plan According to the government, the Urban Master Plan calls for the building of Macau as ‘the world tourism and leisure centre and a beautiful home’ with the following 11 goals,. • Reinforce Macau as a quality tourism destination
• Facilitate integration of Macau into Guangdong-Hong Kong-Macau Greater Bay Area
• Strengthen entrepreneurial and business appeal of Macau, especially in areas of leisure tourism, environment, culture, innovation, education, science & research, and healthcare • Enhance knowledge level and competitiveness of city
• Protect, conserve and promote cultural heritage of Macau, thus consolidating city’s position as a cultural centre in region • Establish a balanced and sustainable land development mode with local characteristics and inject momentum in development of old districts, together with an overall marine resources management system • Improve basic infrastructure and boost supply of public housing [Further] address needs of disadvantaged households and community and facilitate social fairness and tolerance • Facilitate energy efficiency with better mechanism to reduce waste
• Protect environment while improving natural and artificial landscapes of city • Implement measures to continue improving traffic and adjust supply of car parking spaces
“The Macau SAR Government has spared no effort in taking advantage of the ‘One country, two systems’ policy in developing its economy through cooperation with Mainland cities. Viewing these developments in Macau, I’m very concerned about Hong Kong’s future” – Eddy Li
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