03/12 GBA Briefs

GBA talents see cross-border hurdles: Higher education institutions are generally satisfied with the cross-border flow of talents in the region, but hurdles are still there, including the incomplete qualification system of teachers and course credits, and fragmented cooperation between scientific research institutions. Read more in Chinese.

Tourists to Macau slump: The number of package tour visitors to Macau recorded a decline of 35.3% year-on-year in October, with those from Hong Kong falling by 42.5%, according to the latest official data. Read more on Macau Daily Times.

Further decline in casino revenues: The gross gaming revenue of casinos in Macau has dropped 8.5% year-on-year in November, totalling 22.88 billion patacas, according to official data. Read more on Macau News.

Macau firms in Hengqin: Macau companies invested in Hengqin grew nearly 50% this year, and now total 2,030, according to official data. Read more (in Chinese).

Macau changes explained: Macau’s new Chief Executive, Ho Iat Seng, held a press conference yesterday to unveil his new Cabinet appointments, at which he explained it was not easy to choose new faces, especially for the important roles of finance and culture secretaries. Read more on Macau Daily Times.

Gree stake sale: Zhuhai-based home appliance giant Gree Electric is to sell 15% if its stake to Zhuhai Mingjun Investment Partnership, a private equity firm backed by Hillhouse Capital Group, leading to a change in ownership of China’s largest air conditioner maker, according to a notice issued on Monday. The sale price was not disclosed. Read more on Caixin.

Hong Kong sweeteners: Hong Kong will soon roll out a fourth round of relief measures targeting businesses and other battered sectors, and addressing unemployment, Chief Executive Carrie Lam said, in a bid to offset the 2% GDP loss due to ongoing social unrest. Read more on SCMP.

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