AGP Executive Report

Macao Health & Consumer Safety: Macao’s Municipal Affairs Bureau (IAM) ordered a stop-sell after a loose-packed dried lily bulb was found to contain excessive cadmium (0.536 ppm), urging residents not to eat the product. Infant Formula Watch: IAM and the Pharmaceutical Administration Bureau flagged lead in Frisolac Prestige Stage 1 (batch 1W07KPJ), with the detected 0.2mg/kg exceeding the 0.02mg/kg limit; authorities urged a stop-use and recall, while the producer said third-party tests show compliance. Macau Tourism & Retail: Sands China’s “2026 Sands Shopping Carnival” wrapped up with a record nearly 160,000 visits over four days, featuring 580+ booths, expanded food and new sports and cultural zones aimed at boosting local SME sales. Gaming & Events: Citi highlighted Galaxy Macau’s strong premium-mass pull during the Volleyball Nations League Finals in Macau, even as typhoon conditions weighed on overall traffic. Cross-border Business & Digital Services: Nota Sign integrated with Hong Kong’s iAM Smart to enable cross-border verified digital signatures for businesses and residents across the Greater Bay Area. Airport Traffic: Macau International Airport handled about 3.9 million passenger movements in 1H26, up 7.9% year-on-year. Regional Policy & Governance: Macau’s “Navigate East” push was spotlighted as the SAR deepens external cooperation via major infrastructure forums held in June.

Tourism & Retail: The “2026 Sands Shopping Carnival” wrapped up after four days at The Venetian Macao, drawing nearly 160,000 visits and bringing total attendance across seven editions to 800,000, with 580+ booths, a bigger food court and new Sports Experience and Cultural & Creative zones. Gaming & Events: Citi highlighted Galaxy Macau’s role in pulling in affluent visitors during the FIVB Women’s Volleyball Nations League Finals in Macau, pointing to strong premium mass share despite typhoon-related footfall changes. Food Safety: Macau health and food authorities escalated action over Frisolac Prestige Stage 1 infant formula (batch 1W07KPJ) after lead was found above local limits, triggering a recall and market checks; follow-up continues for affected infants. Local Business & IP Retail: MINISO opened Macau’s first MINISO LAND at Shoppes at Venetian, a 400m² premium, IP-led format with 1,200+ SKUs and 30+ licensed collections. Cross-border Skills & Talent: A Macau team will compete in the Guangdong-Hong Kong-Macao “Cantonese Cuisine Chef” skills contest in Heyuan, aiming to deepen GBA vocational training cooperation. Public Policy & Regulation: Proposed rules for on-site paid photography services would require Macau residents to register, with penalties for serious violations. Infrastructure & Community: Macao Light Rapid Transit will host a Beyblade tournament on Aug 9 at Barra Station, with family-friendly activities and registration open until Aug 5. Business Expansion: Wynn Palace expansion plans were approved, with CreditSights saying Wynn Macau is prioritizing incremental EBITDA growth over deleveraging as it moves ahead with a new hotel and event center.

GBA Dealmaking: Guangdong, Hong Kong and Macao teamed up in Beijing for a business matching conference to link Greater Bay Area opportunities with state-owned enterprises and investment institutions, aiming to deepen industrial-capital integration and push cross-border expansion. Food Safety & Trade: Macao’s lead scare over Frisolac Prestige Stage 1 infant formula (batch 1W07KPJ) triggered recalls and market action, while regulators and the manufacturer pointed to follow-up testing and batch-specific results; Hong Kong’s customs and consumer alerts also moved in parallel. Retail & IP Expansion: MINISO opened Macau’s first MINISO LAND at Shoppes at Venetian, bringing a larger store format and 1,200+ SKUs across IP collections and collectibles to capture both locals and international visitors. Gaming-Adjacent Demand: Citi highlighted how Galaxy Macau’s non-gaming sports programming around the Women’s Volleyball Nations League Finals helped draw a lively crowd and boosted premium mass share during the survey period. Payments Upgrade: MPay launched a phased feature letting eligible users transfer wallet balances to personal bank accounts, with defined quotas and transfer caps. Transport & Leisure: Macao Light Rapid Transit will host a Beyblade tournament on Aug 9 at Barra Station with parent-child friendly activities and registration fees. Fuel Subsidy End: Lawmakers warned that Macau’s fuel subsidy wind-down could bring renewed pressure on retail prices and raise transparency concerns. Wynn Palace Expansion: CreditSights said Wynn Macau is prioritising incremental EBITDA over deleveraging as it moves ahead with the Enclave development at Wynn Palace. Cross-Border Enforcement: Hong Kong Customs seized 20 suspected endangered live turtles at the HZMB Hong Kong Port and arrested a Macao male passenger.

Luxury Demand Signals: Burberry’s Greater China sales rose 9% year-on-year in the quarter to June 27, with analysts pointing to improving sentiment tied to China’s asset market and Gen Z spending. Macau Gaming Expansion & Finance: CreditSights says Wynn Macau’s new Wynn Palace project “The Enclave” (up to US$950m) shifts focus toward incremental EBITDA rather than deleveraging, with financing potentially via cash or a US$1.35b revolver. Cross-Border Payments: Macau’s MPay is rolling out transfers from wallet balances to linked personal bank accounts, with phased launch and Grade 3A/3B limits and fees. E-payment Push: A Macau Business magazine special report highlights how cashless adoption has surged, with mobile payment transaction value reaching MOP33.32b in 2025 and e-payments now dominating retail and restaurant receipts. Public Health Alert: Macau authorities found lead above limits in a batch of “Frisolac Prestige Stage 1” (800g, batch 1W07KPJ) and ordered removal and recall; Hong Kong’s CFS also urged consumers not to use the affected batch. Transport & Mobility: HKIA launched “Park & Visit” for eligible GBA visitors to drive via the HZMB, park at the Hong Kong Port, then continue by shuttle and public transport. Community & Leisure: Macao LRT will host a “Speeding on the Rails – Beyblade Tournament” on Aug 9 at Barra Station, with registration open until Aug 5. Sports Spotlight: Women’s VNL Finals Macao 2026 ended with Türkiye winning the title after a 3-1 win over Brazil, with Italy taking bronze.

E-payment Push in Macau: MPay, Macau’s mobile payment app, is rolling out a new “transfer to bank accounts” feature, letting eligible Grade 3A/3B users move wallet balances to personal linked banks (with phased launch and a first transfer promo through Dec 31, 2026). Cross-border Commerce Link: Macau helped anchor the China–Portuguese-speaking countries business push in Maputo, where a meeting on logistics and infrastructure drew 350+ representatives and produced 24 cooperation deals worth about USD 150 million. Tourism Payments Still a Bottleneck: A Macau Business special report says retail and hospitality are largely digitally mature, but transport remains the biggest friction point for visitors—especially taxis—while bus and LRT e-pay integration is still evolving. Macau’s Digital Economy Context: The same coverage highlights how high internet penetration, Greater Bay Area integration, Macau’s multi-currency setup, and financial institutions’ payment interoperability (including Alipay/WeChat Pay and Alipay+) are driving cashless adoption. Public Safety Watch: Macau authorities and Hong Kong’s CFS issued a lead-risk alert over a specific Netherlands-made infant formula batch (Frisolac Prestige Stage 1, batch 1W07KPJ), urging consumers to stop using or selling it. Regional Weather Disruption: Typhoon Noul hit south China with strong winds and heavy rain, prompting relocations and transport suspensions across Guangdong and parts of the region, with knock-on effects for travel links including the Hong Kong–Zhuhai–Macao bridge.

Macau Payments & Fintech: MPay, Macau’s first multifunction mobile payment app, is rolling out a new feature that lets eligible users transfer wallet balances directly to linked personal bank accounts, with phased launch and quotas plus a first transfer free promo through Dec 31, 2026. Food Safety: The Centre for Food Safety urged the public not to consume a specific batch of Netherlands-made Frisolac Prestige Stage 1 infant formula after Macao authorities found lead possibly above permissible limits; traders are told to stop selling or using the affected batch. Cross-Border Business: A China–Portuguese-speaking countries entrepreneurs meeting in Maputo, co-organised with IPIM (Macao), signed 24 cooperation deals worth about US$150m, focused on logistics infrastructure and trade. Macau Economy & Gaming: Las Vegas Sands’ Macau business update and Wynn Palace expansion approvals keep attention on VIP spending and resort capex, as operators position for a premium rebound. Public Services & Data: Macau’s 2026 Population By-Census starts July 25, with online submission via Macao One Account and enumerator visits for non-respondents. Regional Risk Watch: Typhoon Noul is disrupting transport across Guangdong and Hong Kong–Zhuhai–Macao bridge operations, with relocations and flight cancellations reported.

Macau Fintech: MPay, Macau’s multifunction mobile payment app, is rolling out transfers from wallet balances to users’ linked personal bank accounts, with phased launch and caps by verified user grade, plus a promo first transfer free through Dec 31, 2026. E-payment & SME Digital Push: A Macau Business special report highlights how government “tap” and e-government initiatives are deepening cashless adoption, while an SME Digital Support Service (launched in 2025) helps local firms digitise marketing and payments. Gaming & Premium Upgrade: Las Vegas Sands says it will fully renovate all 2,900 rooms and suites at The Venetian Macao by Chinese New Year 2028, adding premium gaming salons as Q2 results were pressured by unusually low VIP rolling hold and World Cup-era visitation shifts. Property & Expansion Approvals: Wynn Palace has secured a Cotai land concession for a new hotel tower plus an international theater and events centre, with a MOP625 million cash premium and a 60-month works deadline. Public Finance Watch: Macau’s fiscal reserves hit a record 0.7 trillion patacas, up 5.3% from end-2025, as authorities continue to manage spending amid softer VIP demand. Cross-border Logistics: Zhuhai Duty Free Group won the arrivals duty-free concession at Qingmao Port, expanding shopping options for travellers in the Zhuhai–Macau corridor. Policy & Data Collection: The 2026 Population By-Census begins July 25, with households encouraged to submit online via Macao One Account and follow strict data confidentiality and enumerator verification steps. Regional Disruption: Typhoon Noul is expected to bring strong winds and torrential rain across Guangdong, with transport suspensions including rail service halts and possible airport and bridge disruptions affecting the Greater Bay Area.

Macau Gaming Crackdown: Macau casinos and the regulator (DICJ) held an emergency meeting to tackle a surge in illegal proxy betting, as police arrest Mainland suspects allegedly livestreaming baccarat for remote gamblers. Wynn Palace Expansion Cleared: Macau approved Wynn Palace’s revised land concession for a new hotel tower (“The Enclave at Wynn Palace”), plus an international theatre and events centre, with a one-off land premium of about MOP652.3 million and a five-year completion deadline. Sands Shopping Carnival Opens: Sands China launched the 2026 Sands Shopping Carnival at Venetian Macao, running free admission through July 26, with 580+ booths across eight zones and a new Sports Experience area. GGR & Renovation Watch: Las Vegas Sands said Macau results were pressured by unusually low VIP rolling hold and World Cup travel softness, while it plans to renovate all 2,900 rooms and suites at The Venetian Macao by CNY 2028. Public Health & Cost of Living: The Health Bureau stepped up mosquito control against dengue and chikungunya during summer travel, while the LPG and petrol subsidy scheme ends at 11:59pm tomorrow. Macau Census Prep: DSEC confirmed the 2026 Population By-Census starts July 25, with online completion via Macao One Account and enumerator visits for non-respondents.

Casino Expansion & Tourism Diversification: Macao has approved Wynn Palace’s Cotai expansion, clearing the way for a new “The Enclave at Wynn Palace” hotel tower plus an international spectacular theatre and events centre, with a one-off land premium of about MOP652.3 million and a 60-month completion deadline. Premium Gaming Pressure: Las Vegas Sands said The Venetian Macao renovation plans are on track for full room and suite upgrades by Chinese New Year 2028, but 2Q results were hit by unusually low VIP rolling hold and softer high-value visitation during the World Cup. Local Business Boost: The 2026 Sands Shopping Carnival opened at Venetian Macao with a new Sports Experience zone and expanded Cultural & Creative area, running free admission through July 26 and featuring 580+ booths. Regulatory Crackdown on Proxy Betting: Macao casinos and the regulator are coordinating after a spike in arrests tied to illegal proxy betting, including cases involving livestreaming baccarat for remote gamblers. Public Finance & Cost Relief: The LPG and petrol subsidy scheme ends at 11:59pm tomorrow, as the government cites stable inflation and urges retailers to adjust prices promptly to reflect crude oil trends. Health & Safety: The Health Bureau stepped up mosquito control and inspections amid rising dengue and chikungunya risks during summer travel. EV Infrastructure Push: Vodatel Networks (Macao) and RadiansPlus announced a partnership aimed at enabling high-density EV charging across Macao with smart load management to reduce grid upgrade needs. Trade & SME Platform: Applications are open for MIF’s “Macao Local Enterprise Sales Area,” supporting local firms ahead of the next major fair.

Macau Gaming Expansion: The government has green-lit Wynn Palace’s Cotai expansion, approving a revised land concession for a new 432-suite hotel tower plus a theatre and events centre, with Wynn to pay an additional MOP652.3 million and complete works within five years. Casino Earnings Watch: Las Vegas Sands reported weaker results tied to unusually low VIP hold in Macau and World Cup-driven travel shifts, with Sands China’s Q2 net revenues down and adjusted EBITDA pressured. Retail & Consumer Flow: UnionPay International data shows Hong Kong residents are spending more in mainland China—offline spending up nearly 30% year-on-year in H1—boosted by price gaps and digital payments, alongside a trade-in subsidy arrangement. Public Finance: Macau fiscal reserves hit a record 702.26 billion patacas at end-May, rising 5.3% from end-2025, supported by budget surpluses and investment returns. Local Business Promotion: IPIM opened applications for the “Macao Local Enterprise Sales Area” at the 31st MIF, offering a 20% booth fee discount for eligible local SMEs. Health & Safety: The Health Bureau stepped up mosquito control and inspections as dengue and chikungunya risks rise during summer travel. Energy Policy: Macau’s LPG and petrol subsidy scheme ends tomorrow, with authorities urging retailers to adjust prices promptly to reflect global crude trends. Tourism Retail Event: Sands Shopping Carnival kicked off with 580+ booths and daily MOP1 specials, aiming to spotlight local SMEs.

Casino & Hotel Investment: Macao has approved Wynn Palace’s expansion, clearing the way for a new luxury hotel tower plus a theatre and entertainment centre on open-air areas, with Wynn to pay a contract premium of MOP652 million; the 432-suite addition is expected to lift hotel capacity and complete by 2028. Gaming Revenue Watch: Las Vegas Sands reported weaker Macau results in 2Q26, citing unusually low hold in rolling play and World Cup-driven shifts; Sands China’s net revenues fell to US$1.78b and profit declined, with The Venetian hit harder than The Londoner. Public Finance: Macao fiscal reserves hit a record 702.26b patacas at end-May, up 5.3% from end-2025, supported by budget surpluses and positive returns on reserve investments. Cross-Border Social Security: The first Macao central provident fund transfers to Guangdong bank accounts are now operational under the Hengqin upgraded scheme, aiming to reduce travel and automate ongoing payments. Local Business Promotion: IPIM opened applications for the “Macao Local Enterprise Sales Area” at the 31st MIF, offering a reduced booth fee of 2,700 patacas for eligible SMEs. EV Infrastructure: Vodatel Networks (Macao) and RadiansPlus (Hong Kong) announced a partnership to bring high-density EV charging across Macao using PSN dynamic load management, targeting faster deployment without major grid upgrades. Retail Expansion: Miniso opened its first Miniso Land store in Macau at The Shoppes at Venetian, bringing an IP-led premium format with themed zones and a 400sqm footprint. Healthcare & Pharma: Menarini Asia-Pacific partnered with Pharmacosmos to register, commercialise and distribute Cosela® (trilaciclib) across multiple Asia-Pacific markets including Hong Kong/Macau.

Gaming & Resorts: Las Vegas Sands said Macau results weakened in 2Q26 as “unusually low hold in rolling play” offset volume growth, with quarterly profit and revenue down and The Venetian Macao hit harder than The Londoner. Property Investment: Sands China also targets full refurbishment of all 2,900 Venetian rooms and suites by Chinese New Year 2028, adding premium gaming salons. Regulatory & Expansion: The government has green-lit Wynn Palace’s Cotai expansion, approving a new hotel tower plus theatre and entertainment centre on the resort’s open-air areas, subject to a contract premium. Public Finance: Macau fiscal reserves rose to a record 702.26 billion patacas at end-May, supported by budget surpluses and positive investment returns. Social Security & Labour: The Social Security Fund will lower the pension adjustment trigger to 2% and review benefits at least every three years; lawmakers also backed longer paid maternity leave for private-sector workers (90 days) and tiered annual leave up to 12 days. Business Promotion: IPIM opened applications for the 31st MIF “Macao Local Enterprise Sales Area,” offering eligible local firms a reduced booth fee (MOP2,700) to sell smart home, daily necessities, food & beverages, and creative products. Cross-border Payments: A Bank of China milestone showed large-value yuan and Hong Kong-dollar transfers via mBridge, highlighting faster cross-border settlement using CBDC rails that include Macau. Tourism & Events: MGTO and Flyday HK launched “Macao, Get, Set, Glow 2026” with eight neighbourhood running routes to drive local spending and visitor discovery.

Wynn Palace Expansion: Macau’s government has approved Wynn Macau Ltd’s new luxury hotel development at Wynn Palace, requiring a MOP652 million premium, with plans for a 432-room all-suite tower plus added event and theatre facilities. Gaming & Health: Health authorities launched mosquito control around Wynn Macau after a dengue case linked to a recent visitor, focusing on a 100-metre perimeter to curb potential spread. Pension & Social Security: Lawmakers backed a civil service pension top-up using budget surpluses, while the Social Security Fund proposed lowering the pension adjustment trigger from 3% to 2% and reviewing benefits at least every three years. Labour Benefits: The Legislative Assembly passed reforms raising private-sector maternity leave to 90 days and tiering annual leave up to 12 days. Trade & Education: Applications opened for the 31st MIF’s “Macao Local Enterprise Sales Area” with an 80% booth fee discount (MOP2,700), and the Macau-Hengqin International Education Town is set to host 20,000 students by 2030. Local Economy Watch: Citi said Macau’s daily GGR rose about 9% week-on-week after World Cup distractions faded. Public Services: Nam Kwong Tong Company won a seven-year concession to run metered parking, with e-payments including “Easy Transfer” rolling out across about 10,000 spaces.

Labour & Benefits: Macau lawmakers passed a bill to boost private-sector maternity leave to 90 days (from 70) and raise statutory annual leave via a tenure-based tier, topping out at 12 days. Social Security Policy: The Social Security Fund will lower the trigger for periodic benefit adjustments by cutting the required cumulative composite CPI change from 3% to 2%, and set a flexible rule so old-age pension adjustments won’t be spaced more than three years apart. Macau Economy & Business Outlook: An “Ask China – Macau Edition 2026” forum at Wynn Macau focused on how the 15th Five-Year Plan and Macau’s 2026-2030 development plan could open new opportunities for the city and the business community. Gaming & Enforcement: Police arrested a mainland man after he filed a false report claiming he was defrauded over HK$1.5 million he lost gambling; he later admitted he staged the story to cover his losses. Transport & Payments: Nam Kwong Tong won a seven-year concession to run Macau’s street parking meters, with plans to expand electronic payments including “Easy Transfer.” Sports & Tourism: Women’s Volleyball Nations League Finals Macao 2026 begin today at the East Asian Games Dome, with organisers pitching the event as a boost to Macau’s “City of Sports” image. Corporate/Markets: Swatch Group reported first-half sales acceleration but profit pressure, while Citi said Macau’s daily GGR rose about 9% week-on-week after the World Cup ended. Health & Pharma: Alebund Pharmaceuticals announced the first participant was randomized and dosed in a global Phase IIb trial of AP306 for hyperphosphatemia.

Macau Gaming Watch: Citi says Macau’s daily GGR rebounded about 9% week-on-week after the World Cup faded, lifting average daily revenue to around MOP679 million in the week to July 19, while keeping its July forecast at MOP21 billion. Gaming Downshift: Separate reporting shows Macau baccarat revenue slipped 2% in Q2 2026 to MOP51.07 billion. Public Services & Payments: Nam Kwong Tong won a seven-year concession to run Macau’s street metered parking, with plans to roll out electronic payments including “Easy Transfer” plus app-based availability and remote payment. Judicial Move: Macau’s Court of Final Appeal will relocate to the Old Courthouse complex next Monday in the city centre, with updated contact details. Social Security Reform: The Social Security Fund backed changes to the Periodic Adjustment Mechanism, including lowering the activation threshold to 2% and capping old-age pension adjustments at intervals of no more than three years. Cyber & Fraud Readiness: The Judiciary Police said it will upgrade its cybersecurity situational awareness system and review key cyber rules as deepfake scams and cross-border financial crime evolve. Local Economy & Jobs: A Macau Youth Career Expo drew 1,600 job and internship openings from 50+ employers, pushing early career planning amid diversification and Hengqin integration. Business & Trade: A 2026 Guangdong & Macao Branded Products Fair is set for Aug 6-9, while Macau’s government tourism office partners on a 2026 campaign with Flyday HK. Regional Crime Link: Hong Kong police arrested 78 people in an anti-triad operation targeting an underground “mini-casino” and illegal racecourse betting, with raids spanning Guangdong, Hong Kong and Macau.

Macau Gaming Outlook: Citi says Macao’s daily GGR averaged about MOP 679 million in 13-19 July, up 9% week-on-week as World Cup “distractions” fade, with July 26 GGR forecast kept at MOP 21.0 billion. Public Services & Transport: The government will sign a 7-year concession with Nam Kwong Tung to operate street parking meters, replacing the current operator. Judicial Relocation: The Court of Final Appeal will move to the Old Courthouse complex next Monday, with new contact details published. Cyber & Fraud Prevention: The Judiciary Police plans a cybersecurity system upgrade and a review of key rules, citing rising deepfake scams and cross-border financial crime. Energy & Industry: Macau’s first solar-plus-battery-plus-EV charging facility at Taipa’s Pac On fuel terminal has been completed, targeting lower energy costs and serving as a low-carbon template. Talent & Employment: Macau launched a Youth Career Expo with 1,600 openings across local and Hengqin firms, pushing early career planning. Visa/Immigration Policy: US DHS finalized a rule replacing “duration of status” for F, J and I nonimmigrants with fixed admission periods starting September 15, 2026. Business & Trade Events: The 2026 Guangdong & Macao Branded Products Fair runs Aug 6-9 at The Venetian Macao, focusing on silver economy and healthy living. Sports & Local Economy: Macau’s World Cup-themed Barra festival drew community energy and market activity as the event wrapped up.