AGP Executive Report

Agentic payments in Macao: MPay will integrate Ant International’s Agentic Mobile Protocol, letting authorized AI agents initiate payments on users’ behalf with spending limits and a “Know Your Agent” trust framework. Hengqin push for diversification: Central and local officials held a special meeting in Hengqin to speed up the Guangdong-Macao In-Depth Cooperation Zone, aiming to lift development and support Macao’s 15th Five-Year Plan alignment. Earth system data hub starts in Hengqin: Construction began on China’s first Earth System Data International Exchange Centre (Macao), a cross-border platform for meteorological and environmental data to support Macau’s diversification and Hengqin’s digital economy. Green finance in the GBA: Shenzhen issued RMB 1 billion offshore sustainability bonds in Macao, with proceeds for water management and healthcare, underscoring deeper Shenzhen-Macao financial cooperation. Macau services trade ranking: Macau placed sixth globally and second in Asia in a services trade development index, with services trade now exceeding 93% of GDP over recent years. Local tech funding momentum: Macau’s science and technology funding applications rose nearly 30% to 1,171 by Aug. 5, with corporate submissions more than doubling. Transport/parking update: Edifício Ut Koi and Edifício Lok Koi hourly car parks will cap 24-hour parking fees at MOP 60 (light vehicles) and MOP 15 (motorcycles) from Sept 1 to Dec 31, 2026. Tourism and culture: The Parisian Macao marks its 10th anniversary, while the government targets opening the first phase of the Macao National Museum of Culture in 2029.

AI in Insurance: AXA Hong Kong and Macau has signed an MOU with BytePlus to embed AI and large language model tools across underwriting, claims, customer intelligence and marketing, with a focus on responsible AI governance. Tourism & Resorts: Sands China says The Parisian Macao will mark its 10th anniversary this Sunday, topping 100 million visitors since 2016 and highlighting expanded non-gaming offerings. Culture & Heritage: The government aims to open the first phase of the Macao National Museum of Culture in 2029, inviting 10 architectural teams to submit concepts, including foreign groups. Hengqin Integration & Data Economy: Construction has started on the Earth System Data International Exchange Centre (Macao) in Hengqin, backed by CMA and local partners, to support international data cooperation and Macau’s diversification. Cross-border Transport Tech: Integrated fare vending and validation gates launched at HZMB Zhuhai Port for Hong Kong–Zhuhai return trips, adding WeChat Pay and Alipay QR payments to speed boarding. Finance & RMB Links: Shenzhen Municipality issued RMB 1 billion offshore municipal bonds in Macao, with proceeds earmarked for water governance and healthcare projects. Business Outlook: A commentary argues Macao’s next five years should build stability by preserving strengths while deepening Hengqin-Macao integration under the 15th Five-Year Plan.

Greater Bay Area Finance: Shenzhen Municipality issued RMB 1 billion offshore municipal government bonds in Macao, marking a second straight year of offshore RMB bond sales and the first Greater Bay Area-themed sustainability bonds there, with a 3-year tenor and a 1.41% coupon. AI & Telecom for Enterprises: HKBN Enterprise Solutions and BoCloud will partner on AI infrastructure and enterprise AI services across Hong Kong and Macao, aiming to speed up regional AI deployments. Satellite Connectivity Upgrade: ST Engineering iDirect unveiled new AI capabilities for its Foresight platform, adding AI governance and guided onboarding to help operators modernize multi-orbit networks. Cross-border Mobility Demand: China processed 499 million inbound and outbound passenger trips in the first eight months of 2026, up 8.7% year-on-year, with visa-free entries rising. Macao Culture & Local Industry: The Cultural Affairs Bureau announced an end-September run of interactive play “In Search of the Playwright,” plus a local programme presentation session to spur collaboration with mainland and nearby stage groups. Gaming & Tourism Push: Wynn supports Macau’s push into Southeast Asia, while WTT Champions Macao 2026 continues to draw visitors and perks for ticket holders. Legal/Compliance Watch: Hong Kong Customs fined a local forwarder $20,000 for exporting Chinese herbal and proprietary Chinese medicines without proper export licences.

Macau Traffic & Public Safety: Zebra crossing violations nearly doubled to 870 cases in the first eight months, as the Public Security Police Force pushes smarter enforcement including 3D scanners and possible removal of a busy crossing to cut pedestrian-vehicle conflicts. Gaming Market Watch: Early September gaming revenue softened after August’s summer peak, with daily gross gaming revenue averaging about MOP633 million (roughly 10% below August) but still around 4% higher year-on-year, while analysts point to events later in the month. Retail & Consumer Costs: The yuan’s recent appreciation may lift ingredient costs for Macau’s food and beverage sector, but industry insiders expect menu price impacts to be limited in the near term due to procurement timing and inventory buffers. Education & Talent: Macau students placed among the world’s top performers in PISA 2025, ranking third in science and math and first in computational problem-solving, with researchers highlighting relatively small gaps between high- and low performers. Tourism & Community Events: The 26th Macau Food Festival returns Nov 20–Dec 6 with about 150 local eateries, while a new citywide healthy lifestyle competition lets residents earn points via the Macao One Account app. Business & Investment: MGM donated MOP1 million to the Macao University of Tourism Development Foundation to support teaching, research and international cooperation, aligning with the city’s diversification push. Corporate Moves: Zenta Group agreed to acquire 100% of ZentoAI, combining fintech-related services and expanding its Macau-based professional platform. Regional Tech & Trade: PCCW Global and Druid Technology signed an MoU to deliver satellite-plus-hybrid IoT solutions across Hong Kong, Macao and Belt and Road regions. Sports: WTT Champions Macao 2026 continued its second day of matches at the East Asian Games Dome.

Macau Diversification Push: Macau is positioning itself as a “business city” beyond gaming, with a new five-year plan targeting about MOP130 billion in investment and aiming to lift non-gaming output to 60% of GDP by 2030. Gaming Watch: Macau gaming revenue slipped 1% year-on-year in August to MOP21.89 billion, a reminder that diversification will be tested by near-term demand swings. Cross-Border Healthcare & TCM: Macau and Hengqin regulators set up a fast-track channel for Hengqin-developed innovative TCM to get registration in Macau, with support spanning R&D through post-marketing. Transport & Mobility: Uber says Macau’s Meter Taxi trips have surged more than fivefold since launch, with Hong Kong visitors the top demand source and event-driven spikes boosting usage. Aviation Ambitions: Macau formed an Aviation Industry Development Working Group to speed up market opening and develop the city into a regional aviation hub. Local Jobs & Tourism Services: Six leisure operators will offer 345 vacancies via a DSAL job-matching drive starting Sept. 9, covering frontline roles and select tech posts. Education & Skills Backdrop: OECD PISA 2025 results show record-low reading and math scores across OECD countries, adding pressure on talent pipelines that Macau and the region will rely on.

Uber & Mobility: Uber says Macau “Uber Taxi” trips have surged more than fivefold since its February relaunch, hitting a six-month high in July, with Hong Kong the biggest source market and concert peaks driving demand; it’s now launching a WeChat Mini Program to boost mainland visitor use for National Day Golden Week and the Macau Grand Prix. Hengqin Pharma Fast-Track: Macau and Hengqin regulators have set up a coordinated channel for Hengqin-developed traditional Chinese medicines to move through “Hengqin R&D + Macau registration,” aiming to speed up approvals for products with urgent clinical needs. Education & Talent Pipeline: The Macao-Hengqin International Education (University) Town opened its first phase with English-medium teaching, cross-campus course options, and plans for dual-degree partnerships; separately, Macau highlighted top results in PISA 2025 LDW, ranking No.1 globally in Learning in the Digital World. Aviation Push: Macau created a cross-department civil aviation working group to accelerate market opening and develop the city into an international aviation hub, spanning airport expansion and air-sea transfer plans. Jobs & Tourism Services: DSAL will run a September job-matching drive offering 345 leisure-industry vacancies; a new Halal Industry Development Association targets hotel halal certification to capture Muslim travel demand. Business & Innovation: Hengqin launched talent cards for Macau-Hengqin professionals, linking services like border clearance, healthcare, banking and entrepreneurship support. Sports & Events: WTT Champions Macao 2026 kicked off at the East Asian Games Dome, with local players exiting early as matches begin.

Education & Skills: OECD’s PISA 2025 shows a sharp global slide, with 15-year-olds reading, math and science at the weakest levels on record; reading fell fastest, raising fresh pressure on education systems as AI reshapes what young people need. Macau Diversification Drive: Macau’s Third Five-Year Plan sets a push to lift non-gaming to about 60% of GDP by 2030, with Dora Ng pointing to an “1+4” industrial layout and a more competitive business environment to help SMEs upgrade. Tourism Targets: Macau aims for MOP23 billion in investment and new international tourism markets under the plan, citing 40.07 million total visitors in 2025 and rising international arrivals. Hengqin Integration: The Guangdong-Macau in-depth cooperation zone marks its fifth anniversary, saying Macau-linked firms in Hengqin jumped 75% to 8,148, with emerging industries expanding. Enforcement & Scams: Customs seized about MOP850,000 in smuggled goods in a six-day operation, while a lawmaker urged stronger safeguards against evolving investment scams after the “Fun Coffee” case. Business Appointments: Aramont named Stephen Ng as Director of Technical Operations, tasking him with expanding technical services across Asia. Ride-hailing Regulation: Uber says it will apply for a Hong Kong licence by end-October and reports Macau usage surging since its February relaunch.

Macau Economic Diversification: Secretary for Economy and Finance Dora Ng reiterated the SAR’s push to lift non-gaming industries to around 60% of GDP by 2030, outlining the “1+4” industrial layout and a more competitive business environment under the 3rd Five-Year Plan. Tourism & Investment Targets: The government set sights on MOP17–23 billion in cumulative investment and 2,400 business matches with Portuguese- and Spanish-speaking partners by 2030, while MGTO said visitor momentum is continuing with 40.07 million total visitors in 2025. Hengqin Integration: Macau-linked firms in Hengqin rose 75% over five years to 8,148 companies, as the cooperation zone reports growth in emerging industries and deeper industrial integration. Cross-border Trade & Enforcement: Customs seized smuggled goods worth about MOP850,000 in a six-day operation, including cigarettes, e-cigarettes, cosmetics, medicines and used phones. Investment Scam Warning: A lawmaker urged stronger prevention as “guaranteed profit” schemes evolve, citing losses from a recent cross-border “Fun Coffee” style scam. Urban Renewal & Liveability: Transport and Public Works Secretary Tam Vai Man gathered views for the 2027 Policy Address, stressing urban renewal, transport upgrades and smart, eco-friendly planning. Community Commerce: A business leader warned that community commerce should be treated as core infrastructure, not an afterthought to housing and roads. Sports-Driven Local Spending: WTT Macau ticket holders can claim up to MOP150 in ZAPE shopping discounts, while merchants ask for more sustained events like a dedicated food night market. Healthcare Insurance Expansion: AXA launched GBA EverGuard Medical Insurance to meet rising demand for cross-border healthcare across Greater China. Business & Mobility Links: Macau and Jakarta are again discussing direct flights, with the CE citing strong Indonesian visitor numbers and local work demand. Corporate Donations: Casino operators pledged MOP40 million for mudslide relief in Xizang.

Macau–ASEAN Air Connectivity: Chief Executive Sam Hou Fai says direct flights between Macau and Jakarta are “back on the cards” after an eight-day Southeast Asia tour, citing strong demand (200,000 Indonesian visitors in 2025 and 8,000 Indonesian workers in Macau) and a shared willingness to restart the route. Sports-to-Retail Push: The government rolls out WTT Champions Macao 2026 ticket perks, offering up to MOP150 in ZAPE merchant discounts (Sept 7–13) to extend tournament spending to about 500 shops. Urban Renewal Framework: Transport and Public Works Secretary Tam Vai Man gathers association views for the 2027 Policy Address, focusing on old building redevelopment, an integrated transport system, smart transport, and eco-friendly neighbourhood planning, alongside a feasibility study for a special urban renewal fund and a citywide survey of old buildings. Cross-Border Mobility Upgrade: DSAT and DSOP move LRT station access gates toward diversified QR/e-payment options (Simple Pay+, UnionPay QR, MPay, Alipay/WeChat, China T-Union), with trial operations targeted by year-end. Disaster Relief: Macau’s six casino operators pledge MOP40 million for mudslide relief in Xizang’s Gyirong County. Legal/Finance Watch: A Singapore court ruling raises questions over enforcing foreign casino gambling debts, a case involving Venetian Macau Ltd.

Urban Renewal & Built Heritage: The government will run a citywide survey of old buildings and study a dedicated urban renewal fund as part of the 3rd Five-Year Plan (2026-2030), aiming to speed up renewal in aging districts. Transport & Payments: LRT stations are replacing access gates with multi-payment electronic options (QR via local e-wallets, UnionPay, Alipay/WeChat transport codes, and China T-Union), starting with Union Hospital and Lotus stations, with trial operations targeted by year-end. Tourism Spend Push: ZAPE merchants are asking for more sustained, creative footfall beyond short promotions, even as the “Ticket Perks x WTT Champions Macao 2026” campaign offers voucher discounts redeemable at about 500 shops. Cross-border Trade Momentum: Hengqin’s Guangdong-Macao In-Depth Cooperation Zone logged over 190 billion yuan in total cross-border trade in five years, up more than 20%, alongside surging port passenger and vehicle flows. ASEAN Business Links: CE Sam Hou Fai wrapped an eight-day Singapore-Indonesia-Malaysia tour, citing 189 cooperation agreements and 370+ business matching sessions to deepen Macao-ASEAN economic, trade and tourism ties. Public Safety & Enforcement: Zhuhai Customs seized 1,234 cigars at Gongbei Port, while Judiciary Police arrested five mainland men over a HK$40,000 casino chip robbery tied to an illicit currency exchange. Disaster Relief: Macao’s six integrated resort operators pledged 40 million patacas to mudslide relief in Xizang, supporting emergency response and reconstruction. Digital Finance: Macao joined mBridge, with the AMCM launching trading for 11 local banks and Digital Macao Pataca entering sandbox testing for future public services and retail payments. Gaming Legal Watch: A Singapore High Court ruling said gambling debts from another jurisdiction can’t be enforced in Singapore on public policy grounds, raising questions for cross-border casino credit recovery.

Macau-Mainland Finance & Payments: Macao has joined the mBridge central bank digital currency platform, with the AMCM launching trading for 11 local banks and Digital Macao Pataca entering sandbox testing for future public-service and retail payments. Gaming & Capital Markets: Wynn Resorts reported Q2 2026 net income more than doubling to US$140.1m, driven mainly by Wynn Palace; the firm also declared a US$0.25 dividend and continued share buybacks, while analysts and new coverage remain upbeat on upside. Cross-border Trade Growth: Hengqin’s Guangdong-Macao In-Depth Cooperation Zone logged 190b yuan in total cross-border trade over five years, up more than 20%, with passenger traffic topping 100m and 30,000+ Macao residents plus 8,100+ Macao-funded enterprises. ASEAN Business Push: A Macao-Hengqin and mainland delegation wrapped an eight-day Singapore-Indonesia-Malaysia tour, running 370+ business matching sessions and securing 189 agreements to deepen trade, tourism and diversification links with ASEAN. Regional Policy & Media Cooperation: Asia-Pacific media leaders in Shenzhen adopted the “Shenzhen Consensus,” backing openness, innovation and supply-chain stability as a prelude to APEC. Travel & Costs: EVA Air will raise excess baggage fees from Sept. 29, with Macau included in its pricing zone. Legal Watch for Casinos: A Singapore High Court ruling said gambling debts from another jurisdiction can’t be enforced in Singapore on public-policy grounds, raising questions for cross-border credit practices.

Macau-Malaysia Business Push: Chief Executive Sam Hou Fai wrapped up a four-day Malaysia visit, meeting Prime Minister Anwar Ibrahim and highlighting cooperation across trade, investment, finance, science and tech, education, and MICE—positioning Macau and Hengqin as a Greater Bay Area gateway for Malaysian firms. Healthcare + Tourism Expansion: Macao Union Medical Center (Peking Union Medical College Hospital) deepened ties with hospitals and research institutions in Singapore, Indonesia and Malaysia, aiming to scale “healthcare + tourism” and clinical research links. Digital Finance Upgrade: The Monetary Authority of Macao has joined the mBridge central bank digital currency platform, with 11 local banks starting trading, while the Digital Macao Pataca moves into sandbox testing for future public services and retail payments. Diversification in Focus: A recent long read frames Macau’s “1+4” diversification plan—keeping tourism as the core while building new pillars in high-tech, modern finance, TCM/big health, and conventions/culture/sports. Regional Deal-Making: A Kuala Lumpur seminar drew 300+ participants and delivered nearly 120 business matching sessions and 54 signed cooperation agreements spanning high-tech, tourism, biomedicine and halal-friendly initiatives. Cross-border Mobility: Angola and Macao signed a mutual visa exemption deal to ease travel for citizens and residents, with entry allowed for up to 30 days. Transport Pressure in the Region: Hong Kong-Zhuhai-Macau Bridge traffic hit a record 5.21 million vehicles in 2025, while a lawmaker said it has weighed on ferry and helicopter services. Asia-Pacific Media Consensus: The Asia-Pacific Media Forum in Shenzhen issued a “shared prosperity” consensus calling for openness, innovation and stronger cooperation—an indirect signal of the region’s business and connectivity priorities.

Digital Finance: Macao has joined the central bank digital currency platform mBridge, with the Monetary Authority of Macao starting trading for 11 local banks and its Digital Macao Pataca entering sandbox testing for future public-service and retail payments. CE Diplomacy & Trade: Chief Executive Sam Hou Fai wrapped up a four-day Malaysia visit, co-chairing a Macao Business Leaders meeting in Kuala Lumpur and meeting Prime Minister Anwar Ibrahim to push stronger cooperation across trade, investment, finance, science and technology, education, and MICE—leveraging Macao and Hengqin’s Greater Bay Area links. Business Matching Drive: A Macao Economic, Trade and Tourism Investment Promotion Seminar in Kuala Lumpur drew 300+ participants, ran nearly 120 business matching sessions, and secured 54 cooperation agreements across high-tech & AI, TCM and big health, tourism, and halal-friendly initiatives. Macao Diversification: A long read highlights Macao’s “1+4” diversification plan under the Third Five-Year Plan, aiming to lift non-gaming industries toward ~60% of GDP by 2030. Transport Watch: Hong Kong-Zhuhai-Macau Bridge traffic hit a record 5.21 million vehicles in 2025, while a lawmaker says the surge is hurting ferry and helicopter services.

Macao–Malaysia push: Chief Executive Sam Hou Fai met Malaysian PM/Finance Minister Anwar Ibrahim in Kuala Lumpur, calling for higher-level practical cooperation and urging Macao and Malaysian firms to seize opportunities from regional development. Dealmaking in education and business: A “Study in Macao” education fair in Malaysia drew 1,000+ visitors and launched a series of brand promotions to attract talent, while a Kuala Lumpur investment promotion seminar reportedly ended with 60+ signed agreements across tourism, MICE, AI, TCM and halal-friendly initiatives. Tourism & mobility: Macao’s “Tourism and Leisure” bus service carried nearly 37,000 passengers by mid-August as authorities assess whether to make Friday extra routes permanent. Finance watch: Monetary Authority data showed broad money supply rebounded 1.5% in July to MOP860.5b, with loans down 0.6% and nonperforming loans easing to 4.4%. Property outlook: JLL said the market recovery lost momentum in 2Q and expects cautious conditions through the rest of 2026. Regional trade context: Guangdong reported record trade with APEC economies in the first seven months, underscoring the wider Greater Bay Area trade momentum.

Macao-Malaysia Business Push: Chief Executive Sam Hou Fai wrapped a Kuala Lumpur stop by urging Macau and Malaysian firms to deepen trade, investment, tourism and digital-economy cooperation, leveraging Macau–Hengqin’s Greater Bay Area role; the visit also followed a reception that helped drive 60+ signed agreements after 120+ business matching sessions. Tourism & MICE Deal Flow: Macau’s government-backed seminar in Kuala Lumpur focused on tourism, MICE, high-tech/AI, TCM & big health, and Muslim-friendly initiatives, including deals tied to pharmaceutical registration and multi-destination travel. Macau Finance & Liquidity: Monetary Authority data showed Macau’s broad money supply rebounded 1.5% in July to MOP860.5b, with loans down 0.6% and nonperforming loans easing to 4.4%. Property Market Caution: JLL said Macau’s property recovery lost momentum, with weaker residential/commercial demand and continued price pressure for office and retail. Wynn 20-Year Staff Award: Wynn Macau launched a one-time 20th Anniversary Share Award benefiting nearly 95% of its 11,660 full-time employees. Responsible Gaming Training: Sands China trained 42 staff as responsible gaming ambassadors, reinforcing frontline support for problem gambling. Transport Planning: Macau’s “Leisure” tourism bus carried nearly 37,000 passengers by mid-August as authorities study whether to make the service permanent.

Macau Finance Watch: Broad money supply rebounded in July, rising 1.5% month-on-month to MOP860.5 billion as resident deposits climbed to MOP838.0 billion; loans slipped 0.6% to MOP1.03 trillion and the nonperforming loan ratio eased to 4.4%. Tourism & Transport: The “Leisure Tour Bus 2.0” carried nearly 37,000 passengers by mid-August; authorities say added Friday routes helped ease weekend crowding and are weighing whether to make the service regular. Gaming & Hospitality: Wynn Macau marked its 20th anniversary with a share award scheme for nearly 95% of staff, while Wynn Palace entered the World’s 50 Best Hotels Extended 51–100 list at No.96; Sands China trained 42 responsible gaming ambassadors. Regional Business Links: PATA and GBTA signed up to boost corporate travel at PATA Travel Mart 2027 in Macao (20–22 Sept 2027). CE Diplomacy: Chief Executive Sam Hou Fai kicked off an official visit to Malaysia, pitching Macau as a bridge for deeper Malaysia–mainland cooperation. Health & Pharma: GSK agreed up to $1.3bn for Hutchmed’s HMPL-A830 cancer therapy, expanding the race for KRAS-targeted treatments.