What does Donald Tsang's re-election as Hong Kong's Chief executive mean for Macau over the next five years? Tsang's campaign head, Legislative Council member David Li Kwok-po, told Macau Business that we can expect Tsang to "act quickly to cement closer ties" with sister Macau SAR and "move forward on a number of longstanding issues, including construction of the Hong Kong – Macau – Zhuhai Bridge, pollution abatement measures, cooperation in air traffic control and economic development issues".
Tsang is known in Macau as the main reason for the shutting down of the local offshore regimes in a move to cut down on tax evasion from Hong Kong companies operating in Macau. His campaign manager believes that together, Hong Kong and Macau "can offer a great deal more to regional and international visitors than either one city can offer on its own" by having joint tourism promotions between our two cities. Macau relies heavily on Hong Kong's International Airport for the grand majority of it's long haul visitors".
Fake Money
Despite the discovery of fake HK$ 1,000 notes, the scandal has no end in site. Earlier last month, two men were arrested and claimed they bought their fake notes from Foshan. If this situation continues to worsen there will likely be a negative impact on the reputation of security of Hong Kong's financial system.
Now, each $1,000 banknote has to be carefully checked to see if it is issued by HSBC in 2000 or 2002; most of the fake notes carry these dates. Detection is proving difficult because the criminal syndicate who produces them own specialised high-technology and are clever in distributing in Hong Kong, Macau and the mainland. Law enforcement agencies across the Pearl River Delta are seeking to cooperate to crack down on the counterfeiting. Many businesses, though, are refusing to accept HK$ 1,000 notes. But that hasn't deterred Stanley Ho, who has proudly announced that he will accept the currency without hesitation.
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