RESTRICTED  WORLD TRADE  
ORGANIZATION  TN/S/O/MAC/Rev.1 
28 July 2005 
 (05-3412) 
Council for Trade in Services 
Special Session Original:   English 
 
 
 
MACAO, CHINA 
 
Revised Offer  
 
 The following revised offer has been received from the delegation of Macao, China, on 
30 June 2005, with the request that it be circulated  to Members of the Council for Trade in Services. 
 
_______________ 
 
1. In pursuance with paragraph 15 of the Doha Mi nisterial Declaration and Paragraph 1(e) of 
WT/L/579, dated 2 August 2004, Macao, China s ubmits herewith the revised services offer. 
2. This revised offer is presented without pr ejudice to Macao, China's rights to withdraw, 
modify or reduce it, in whole or in part, at any poi nt of time before the conclusion of the negotiations, 
particularly in response to the level of offers made by other Members. 
3. Macao, China further reserves th e right to introduce technical changes to this offer and to 
correct any errors, omissions, or inaccuracies therein. 
4. The editorial conventions used in this revi sed offer follow the guidelines established by the 
WTO Secretariat in JOB(02)/88 and JOB(05)/6.  
    
TN/S/O/MAC/Rev.1 
Page 2 
 
 
MACAO, CHINA  -   REVISED OFFER  
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
I. HORIZONTAL COMMITMENTS  
 
ALL SECTORS INCLUDED IN 
THIS SCHEDULE EXCEPT 
THOSE AS INDICATED 
OTHERWISE  
1) Unbound  
2) Unbound  
3) Unbound  
 
 
 
 
 
 
4) Unbound except for measures 
concerning the entry and 
temporary stay of natural 
persons in the following 
categories of personnel: 
  
1) Unbound  
2) Unbound  
3) The companies that do not have 
statutory headquarters and their 
main administration is not in the 
Macao S AR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound    
 
TN/S/O/MAC/Rev.1 
Page 3 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
 
ALL  SECTORS INCLUDED IN 
THIS SCHEDULE  EXCEPT THOSE 
AS INDICATED OTHERWISE 
(Cont.)   
(a) Intra-corporate Transferees 
for a period of initial stay of up to 
three years: executi ves and senior 
managers, as defined below, who are 
employees of juridical persons that 
provide services within the Macao 
Special Administrative Region 
(Macao SAR) through a branch, 
subsidiary, firm or joint venture 
established in the Macao SAR: 
(i) Executives: persons within the 
juridical person who primarily 
direct the management of the 
juridical person. 
 
(ii) Senior Managers: persons 
within a juridical person who 
primarily direct the juridical 
person, supervise and control 
the work of other supervisory, 
professional or managerial 
employees, have the authority 
to hire and fire or recommend 
hiring, firing, or other 
personnel actions  (such as 
promotions or leave 
authorizations), and exercise 
discretionary authority over 
day-to-day operations. The 
term“Senior Managers ”does 
not include first-line 
management staff,  nor does it 
include employees who 
primarily perform tasks 
necessary for the provision of 
the service. 
      
TN/S/O/MAC/Rev.1 
Page 4 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
ALL  SECTORS INCLUDED IN 
THIS SCHEDULE  EXCEPT THO SE 
AS INDICATED OTHERWISE 
(Cont.)  (b) Personnel Directly Engaged 
in Establishment: a person who has 
been employed in the immediately 
preceding year by a foreign 
juridical person, receiving 
remuneration from that source, 
and who occupies a managerial or 
executive position with that 
juridical person, and is entering 
the Macao SAR for the purpose of 
establishing a branch, subsidiary 
or affiliate. The temporary stay of 
such personnel shall be limited to 
one year.    
II. SPECIFIC COMMITMENTS  
1.  BUSINESS SERVICES 
 
A.  Professional Services  
 
b. Accounting, auditing and 
bookkeeping Services (CPC 862) 
 
- Accounting and auditing services 
(CPC 8621) 
  
 
 
 
1) Unbound   
2) Unbound   
3) None other than the following:  
(a)   Commercial presence must 
take the form of 
partnership and at least one 
of the partners has to be 
Macao permanent resident.  
(b)    All partners must have 
obtained licences issued by 
the relevant authority in the 
Macao SAR.  
(b) (c)    50% of the employees have 
to be Macao residents. 
4) Unbound except as indicated in 
the horizontal section.  
 
  
 
 
 
1) Unbound 
2) Unbound 
3) None other than at least one of the 
partners has to be Macao 
permanent resident who has 
obtained the licence.  the companies 
that do not have statutory 
headquarters and their main 
administration is not in the Macao 
SAR must appoint a representative 
who resides in the Macao SAR, and 
allocate capital to their activities in 
the Macao SAR. 
 
4) Unbound   
 
TN/S/O/MAC/Rev.1 
Page 5 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
- Book-keeping services, except tax 
returns (CPC 8622) 
  
 1) Unbound   
2) Unbound   
3) None other than the following:  
(a)   Commercial presence must 
take the form of 
partnership and at least one 
of the partners has to be 
Macao permanent resident.  
(b)    All partners must have 
obtained licences issued by 
the relevant authority in the 
Macao SAR.  
(b) (c)    50% of the employees have 
to be Macao residents. 
4) Unbound except as indicated in 
the horizontal section. 
 1) Unbound 
2) Unbound 
3) None other than at least one of the 
partners has to be Macao permanent 
resident who has obtained the 
licence.  the companies that do not 
have statutory headquarters and 
their main administration is not in 
the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
 
 
4) Unbound      
TN/S/O/MAC/Rev.1 
Page 6 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
d. Architectural services (CPC 8671) 
 1) Unbound 
2) Unbound 
3) None other t han architectural 
registration and licensing 
requirements set out in  urban 
construction regulations must 
be fulfilled . 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
 1) Unbound 
2) Unbound 
3) None  other than: 
a) The companies that do not have 
statutory headquarters and their 
main administration is not in the 
Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital 
to their activities in the Macao 
SAR. 
b) All projects of construction work 
and the projects of respective 
drafts or modifications relating 
to civil construction for 
appreciation and approval must 
be endorsed by technicians who 
must be Macao permanent 
residents and registered in the 
relevant authority in the Macao 
SAR. 
4) Unbound   
 
TN/S/O/MAC/Rev.1 
Page 7 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
e. Engineering services (only those 
professions related to 
construction) (CPC 8672) 
 
f. Integrated engi neering services  
(only those professions related to 
construction) (CPC 8673) 
 
 1) Unbound 
2) Unbound 
3) None  other than engineering 
registration and licensing 
requirements set out in  urban 
construction regulations must 
be fulfilled . 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
 1) Unbound 
2) Unbound 
3) None  other than: 
a) The companies that do not have 
statutory headquarters and their 
main administration is not in the 
Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital 
to their activities in the Macao 
SAR. 
b) All projects of construction work 
and the projects of respective 
drafts or modifications relating 
to civil construction for 
appreciation and approval must 
be endorsed by technicians who 
must be Macao permanent 
residents and registered in the 
relevant authority in the Macao 
SAR.  
4) Unbound     
TN/S/O/MAC/Rev.1 
Page 8 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
B.  Computer and Related Services  
 (excluding I nternet Protocol  
phone)  
 
a. Consultancy services related to 
the installation of computer 
hardware (CPC 841) 
b. Software implementation services 
(CPC 842) 
c. Data processing services  
 (CPC 843) 
d. Data base services (CPC 844) 
e. Maintenance and repair services 
of office machinery and 
equipment including computers 
(CPC 845) 
 Other computer services 
(CPC 849) 
  
 
 
 
1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section.  
 
 
 
1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR. 
4) Unbound  
D.  Real estate services  
 
a. Involving own or leased property 
(CPC 821) 
b. On a fee or contract basis 
(CPC 822)  
 
1) None 
2) None 
3) None 
 
 
 
 
 
 
 
 
 
4) Unbound  
  
 
1) None 
2) None 
3) None other than the residency 
requirement of an appointed 
representative in the Macao SAR.  
the companies that do not have 
statutory headquarters and their 
main administration is not in the 
Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound    
 
TN/S/O/MAC/Rev.1 
Page 9 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
E. Rental/Leasing Services without 
Operators  
 
c.  Relating to other transport 
equipment 
(CPC 83101+83102+83105)   
 
 
 
 
d. Relating to other machinery and 
equipment (CPC 83106-83109) 
e.  Other (CPC 832) 
 
 
 
  
 
 
1) Unbound  None  
2) None 
3) None 
4) Unbound  
 
 
 
1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound  
  
 
 
1) Unbound  None  
2) Unbound  None  
3) None  
4) Unbound 
 
 
 
1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
F. Other Business Services  
 
c.   Management consulting services 
(CPC 865)  
 
1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
  
 
1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound     
TN/S/O/MAC/Rev.1 
Page 10 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
e. Technical testing and analysis 
services (CPC 8676) 
f. Services incidental to agriculture, 
hunting and forestry 
 (CPC 881) 
g. Services incidental to fishing 
 (CPC 882) 
h. Services incidental to mining   
(CPC 883+5115) 
j. Services incidental to energy 
distribution as stated in 
Attachment to Energy Services 
k. Placement and su pply services of 
personnel (CPC 872) 
m. Related scientific and technical 
consulting services (CPC 8675) 1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
n. Maintenance and repair of 
equipment (not including 
maritime vessels, aircraft or other 
transport equipment) 
(CPC 633+8861-8866) 
 1) None 
2) None 
3) None  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound 
 1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound   
 
TN/S/O/MAC/Rev.1 
Page 11 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
o. Building – cleaning services 
 (CPC 874) 1) Unbound* 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound 
 1) Unbound* 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
Unbound  
p. Photographic services (CPC 875) 
q. Packaging services (CPC 876) 
  
 1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound  
 1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
                                                      
* Unbound due to lack of technical feasibility.    
TN/S/O/MAC/Rev.1 
Page 12 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
r. Printing, Publishing (CPC 88442) 1)  None 
2) None 
3) None other than to establish a 
company in the form of sole 
proprietorship, whose proprietor 
must be a Macao resident. 
 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound  
 1) None 
2) None 
3) None other than: 
(a)   To establish a company in the 
form of sole proprietorship,  
whose proprietor must be a  
Macao resident.  
The companies that do not 
have statutory headquarters 
and their main administration 
is not in the Macao SAR must 
appoint a representative who 
resides in the Macao SAR, and 
allocate capital to their 
activities in the Macao SAR.  
(b) To publish periodicals, 
newspapers and magazines, 
the publishers  directors  must 
be Macao residents. 
4) Unbound  
s.  Convention services  
 (CPC 87909*) Note 
 
 1) Unbound* 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
 1) Unbound* 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
                                                      
Note The (*) in CPC thereinafter indicates that th e service specified is a component of a mo re aggregated CPC item specified elsewhe re in W/120 classification list. 
* Unbound due to lack of technical feasibility .  
 
TN/S/O/MAC/Rev.1 
Page 13 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
t. Others 
 -  Telephone answering services  
         (CPC 87903) 
 - Duplicating services 
(CPC 87904)  
1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound 
  
1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
 - Translation and interpretation 
services (CPC 87905) 
 1) None 
2) None 
3) None 
 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
 1) None 
2) None 
3) None other than residence 
requirement.  the companies that do 
not have statutory headquarters and 
their main administration is not in 
the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound 
  
2. COMMUNICATION SERVICES 
 
C. Telecommunication services   
 
I. Local services & International 
services  
    
 
 
 
Macao, China undertakes the 
obligations contained in the Reference 
Paper in Annex I attached hereto.      
TN/S/O/MAC/Rev.1 
Page 14 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
o. Others 
 - Mobile radio telephone 
 services (CPC 75213) 
 - Radio paging services  
  (CPC 75291) 
 
  
1) Unbound 
2) None 
3) None, subject to economic needs 
test. 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
  
1) Unbound 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
II. Value-added services  
 
f. Facsimile services (CPC 75213) 
h. Electronic mail (CPC 7523**) 
i. Voice mail (CPC 7523**) 
j. On-line information and data 
base retrieval (CPC 7523**) 
l. Enhanced/value-added facsimile 
services, incl. store and forward, 
store and retrieve (CPC 7523**) 
m. Code and protocol conversion 
(n.a.) 
  
1) None except services must be 
provided through a licensed 
infrastructure operator. 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
  
1) None 
 
 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound Macao, China undertakes the 
obligations contained in the Reference 
Paper in Annex I attached hereto.    
 
TN/S/O/MAC/Rev.1 
Page 15 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
k. Electronic data interchan ge (EDI)    
(CPC 7523**) 
 1) Unbound 
2) None 
3) Unbound 
4) Unbound except as indicated in 
the horizontal section. 
 1) Unbound 
2) None 
3) Unbound 
4) Unbound  
3. CONSTRUCTION AND 
RELATED ENGINEERING 
SERVICES 
 
A. General construction work for 
buildings  (CPC 512) 
B. General construction work for 
civil engineering  (CPC 513) 
C. Installation and assembly work  
(CPC 514+516) 
D. Building completion and finishing 
work  (CPC 517) 
E. Other  (CPC 511+515+518)   
 
 
 
1) Unbound* 
2) None 
3) None  other than  authorization 
requirement set out in urban 
construction regulations.   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound 
  
 
 
 
1) Unbound* 
2) None 
3) None  other than  
a) The companies that do not have 
statutory headquarters and their 
main administration is not in the 
Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital 
to their activities in the Macao 
SAR. 
b) All projects of construction work 
and the projects of respective 
drafts or modifications relating 
to civil construction for 
appreciation and approval must 
be endorsed by technicians who 
must be Macao permanent 
residents and registered in the 
relevant authority in the Macao 
SAR. 
4) Unbound  
                                                      
* Unbound due to lack of technical feasibility     
TN/S/O/MAC/Rev.1 
Page 16 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
5. EDUCATION SERVICES 
 
D. Adult education  (CPC 924) 
E. Other education services  
(CPC 929)  
 
1) Unbound except distance 
learning 
2) None 
3) None other than the staff to be 
Macao resident. 
 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
  
 
1) Unbound except distance learning 
 
2) None 
3) None other than  the staff t o be 
Macao resident.  the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
 
4) Unbound  
7. FINANCIAL SERVICES  
 
A.  All insurance and insurance-related 
services  (CPC  812**)  
 
 
 
 
 
 
a.  Life, accident and health insurance 
services; and  (CPC  8121)  
 
b. Non-life insurance services 
 (CPC  8129)  
 
 
 Sectoral commitments in mode (4) of 
the financial services (including 
insurance and banking): Unbound 
except as indicated in the horizontal 
section and measures for transfer of 
CEO, alternate CEO, directors, 
financial specialists and other staff 
who are not available in the local 
labour market. 
 
1) Unbound  
2) None other than compulsory 
insurance, like third party liability 
in respect of vehicles, publicity 
and propaganda materials, 
pleasurecraft , employers’ 
liability in respect of employees, 
professional liability of travel 
agents,  etc., must be purchased 
from insurers authorised to operate 
in Macau  the Macao SAR .  
 
 
 
 
 
 
 
 
 
 
1) None 
2) None 
 
   
 
TN/S/O/MAC/Rev.1 
Page 17 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
 3)  None other than under the Macau  
Macao  Insurance Co mpanies  
Ordinance only a corporate entity 
is permitted to conduct insurance 
business in Macau , after obtaining 
the necessary licence. 
 3) None other than the general- manager  
representative  of the branch of an 
insurer incorporated overseas must be 
resident in Macau  the Macao SAR . 
 
  
 Commercial presence may be in 
the form of a locally incorporated 
subsidiary, branch or 
representative office. However, a 
representative office is not 
permitted to carry on insurance 
business. 
   
 4)  Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 4) None     
TN/S/O/MAC/Rev.1 
Page 18 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
c.  Reinsurance and retrocession 
 (CPC  81299*)  
 
 1) None 
2) None 
3) None other than under the Macau  
Macao  Insurance Companies  
Ordinance only a corporate entity 
is permitted to conduct 
reinsurance business in Macau  the 
Macao SAR . 
 
Commercial presence of reinsurers 
may be in the form of a locally 
incorporated subsidiary, branch or 
representative office. However, a 
representative office is not 
permitted to retain any portion of 
reinsurance premiums. 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector . 
 1) None 
2) None 
3) None other than the general -manager  
representative  of the authorised 
reinsurer has to be resident in Macau  
the Macao SAR . 
 
 
 
 
 
 
 
 
 
 
 
4) None   
 
TN/S/O/MAC/Rev.1 
Page 19 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
d.  Services auxiliary to insurance 
(including broking and agency 
services)  (CPC  8140)  1) None, other than insurance 
intermediaries (brokers, agents, 
salesmen) need to obtain licence 
prior to commencement of 
business. 
2) None 
3) None other than only a company 
can be permitted to act as a broker 
or a corporate agent.  
 
 
4) None in relation to consultancy 
services, loss adjusters and other 
services which do not involve the 
selling of insurance or carrying on 
of insurance intermediary 
business. Unbound for other 
services in this subsector. 
 1) None other than individuals (agents 
and salesmen) must be residents in 
Macau  the Macao SAR . 
 
 
2) None 
3) None other than the general-manager 
or representative of an overseas 
broker firm or of the corporate agent 
must be resident in  Macau  the Macao 
SAR . 
4) None  
B. Banking and other financial services  
(excl. insurance) 
 
a. Acceptance of deposits and other 
repayable funds from the public 
(CPC  81115 -81119)   
 
 
1) Unbound 
2) None 
3) None other than that commercial 
presence must take the form of 
branch or subsidiary, duly 
authorised to carry on the 
activities of a banking institution. 
 
  
 
 
1) None 
2) None 
3) None other than:  
(a)  A bank incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
     
TN/S/O/MAC/Rev.1 
Page 20 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
 Under the present Financial 
System Act of Macau, banks 
incorporated  overseas may apply 
for a licence to operate a full -
licence or offshore licence branch 
or subsidiary.  
 
The present main  authorization 
criterion is:  
-Adequacy of the objectives of 
the applicant with the economic 
and financial policies pursued 
by the local g overnment .  (b) A subsidiary of a bank 
incorporated overseas 
authorized  under the Financial 
System Act  must have at least 3 
directors, two of whom must be 
residents in Macau  the Macao 
SAR . 
  
 A full -licence branch or subsidiary 
may apply for authorization  to 
open sub -branch or branches and 
to install ATMs.  
 
Other than branch or subsidiary, a 
bank incorporated overseas may 
apply for authorization to open a 
representative office. Such office 
is prohibited from taking deposits 
or from undertaking any kind of 
banking business. 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector. 
  
 
 
 
 
 
 
 
 
 
 
 
 
4) None   
 
TN/S/O/MAC/Rev.1 
Page 21 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
b. Lending of all types, including, inter 
alia, consumer credit, mortgage 
credit, factoring and financing of 
commercial transaction  (CPC  8113)  1) Unbound 
2) None 
3) None other than that commercial 
presence must take the form of an 
authorized credit institution. 
 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound except for transfer of 
CEO, director s, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 1) None 
2) None 
3) None other than:  
(a)  Bank incorporated overseas 
authorised under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank 
incorporated overseas 
authorized  under the Financial 
System Act  must have at least 3 
directors, two of whom must be 
residents in Macau  the Macao 
SAR . 
4) None     
TN/S/O/MAC/Rev.1 
Page 22 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
c.  Financial Leasing  (CPC  8112)  1)  Unbound 
2) None 
3) None other than that commercial 
presence must take the form of an 
authorised credit institution, or a 
locally incorporated financial 
leasing company. 
 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound except fo r transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 1) None 
2) None 
3) None other than:  
(a)  A bank incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank 
incorporated overseas or a 
financial leasing company 
authorized  under the Financial 
System Act  must have at least 3 
directors, two of whom must be 
residents in Macau  the Macao 
SAR . 
4) None   
 
TN/S/O/MAC/Rev.1 
Page 23 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
d. All payment and money transmission 
services  (CPC  81339**)  1) Unbound 
2) None 
3) None other than that commercial 
presence must take the form of: 
(a)  An authorized branch of a 
bank incorporated overseas 
or locally incorporated bank; 
(b)  An authorised locally 
incorporated cash remittance 
company. 
 
 1) None 
2) None 
3) None other than: 
(a)  A bank incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank 
incorporated overseas 
authorized  under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR ;   
(c)  A locally incorporated cash 
remittance company authorized  
under the FSA  must have one 
general-manager resident in 
Macau  the Macao SAR . 
  
 4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are n ot available in 
the local labour market  as stated 
above in this sector. 
 4) None     
TN/S/O/MAC/Rev.1 
Page 24 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
e. Guarantees and commitments  
 (CPC  81199**)  1) None 
2) None 
3) None other than that commercial 
presence must take the form of a 
branch or subsidiary, duly 
authorised to carry on the 
activities of a credit institution. 
 
 
 
 
 
 
 
 
 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 1) None 
2) None 
3) None other than:  
(a)  A bank incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank 
incorporated overseas 
authorized  under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR . 
4) None 
   
 
TN/S/O/MAC/Rev.1 
Page 25 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
f. Trading for own account or for 
account of customers, whether on an 
exchange, in an over-the-counter 
market or otherwise, the following: 
 (CPC  81339**+81333+81321*)  
 
 - Money market instruments 
(cheques, bills, certificates of 
deposits, etc.) 
 - Foreign exchange 
 - Derivative products, including, 
but not limited to, futures and 
options 
 - Exchange rate and interest rate 
instruments, including products such 
as swaps, forward rate agreements, 
etc. 
 - Transferable securities 
 - Other negotiable instruments 
and financial assets, including 
bullion 1) Unbound 
2) None 
3) None other than that commercial 
presence must take the form of a 
branch or subsidiary, duly 
authorised to carry on the 
activities of a credit institution or 
financial intermediary . 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 1) None  
2) None 
3) None other than:  
(a)  A bank or a financial 
intermediary  incorporated 
overseas authorized under the 
Financial System Act  to open a 
branch must appoint a chief 
executive officer and at least 
one alternate CEO, each of 
whom must be resident in 
Maca u the Macao SAR ; 
(b)  A subsidiary of a bank or a 
financial intermediary  
incorporated overseas 
authorized  under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR . 
4) None     
TN/S/O/MAC/Rev.1 
Page 26 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
g. Participation in issues of all kinds of 
securities, including under-writing 
and placement as agent (whether 
publicly or privately) and provision 
of services related to such issues 
(CPC  8132)  1) None 
2) None 
3) None other than that commercial 
presence must take the form of a 
branch or subsidiary, duly 
authorised to carry on the 
activities of a credit institution or 
a financial intermediary . 
 
 
 
 
 
 
 
 
 
 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 1) None 
2) None 
3) None other than:  
(a)  A bank or a financial 
intermediary  incorporated 
overseas authorized under the 
Financial System Act  to open a 
branch must appoint a chief 
executive officer and at least 
one alternate CEO, each of 
whom must be resident in 
Macau the Macao SAR ;  
(b)  A subsidiary of a bank or 
financial intermediary  
incorporated overseas 
authorized  under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR . 
4) None 
   
 
TN/S/O/MAC/Rev.1 
Page 27 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
h. Money broking  (CPC  81339**)  1)  None 
2) None 
3) None other than that commercial 
presence must take the form of a 
branch or subsidiary, duly 
authorised to carry on the 
activities of a credit institution. 
 
 
 
 
 
 
 
 
 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not avail able in 
the local labour market  as stated 
above in this sector.  
 1) None 
2) None 
3) None other than:  
(a)  A bank incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank 
incorporated overseas 
authorized  under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR . 
4) None     
TN/S/O/MAC/Rev.1 
Page 28 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
i.  Asset management, such as cash or 
portfolio management, all forms of 
collective investment management, 
pension fund management*, 
custodial, depository and trust 
services.  (CPC  81323*)  
 
 1) Unbound 
2) None 
3) None other than that commercial 
presence must take the form of a 
branch or subsidiary, duly 
authorised to carry out the  
activities of a  credit institution or 
in form of an investment fund, a 
depository or fund management 
company incorporated in the 
Macao SAR . 
 
 
 
 
 
 
 1) None 
2) None 
3) None other than:  
(a)  A bank  credit institution 
incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank  credit 
institution incorporated overseas 
authorized under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR ; 
(c)  A fund management company 
must appoint at least two 
resident CEO .  
 4) Unbound except for transfer of 
CEO, directors, specialists an d 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 4) None  
                                                      
* Regarding Modes 1) to ( 4) of pension fund management, please refer  to the conditions stated under Section A. sub-item (a) Life, accident and health in surance services.  
 
TN/S/O/MAC/Rev.1 
Page 29 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
j.   Settlement and clearing services for 
financial assets, including securities, 
derivatives products, and other 
negotiable instruments 
 (CPC  81339**  or CPC  81319**)  1) Unbound 
2) None 
3) None other than that commercial 
presence must take the form of a 
branch or subsidiary, duly 
authorised to carry out the 
activities of a credit institution or 
a financial intermediary . 
 
 
 
 
 
 
 
 
 
4) Unbound except for transfer of 
CEO, directors, specialists and 
other staff who are not available in 
the local labour market  as stated 
above in this sector.  
 1) None 
2) None 
3) None other than:  
(a)  A bank incorporated overseas 
authorized under the Financial 
System Act  to open a branch 
must appoint a chief executive 
officer and at least one alternate 
CEO, each of whom must be 
resident in Macau  the Macao 
SAR ;  
(b)  A subsidiary of a bank 
incorporated overseas 
authorized under the FSA  must 
have at least 3 directors, two of 
whom must be residents in 
Macau  the Macao SAR . 
4) None  
l.k. Provision and transfer of financial 
information, and financial data 
processing and related software by 
providers of other financial services 
(CPC  8131)  
 1) None 
2) None 
3) None 
4) None 1) None 
2) None 
3) None 
4) None  
k.l. Advisory and other auxiliary financial 
services on all  the activities listed in 
5(a) subpara graps (V) to  (XV), of the 
Annex on Financial Services,  (a) to 
(k) above  including credit reference 
and analysis, investment and 
portfolio research and advice, advice 
on acquisitions and on corporate 
restructuring and strategy 
(CPC  8131 or CPC  8133)  
 1) None 
2) None 
3) None 
4) None 
 1) None 
2) None 
3) None 
4) None     
TN/S/O/MAC/Rev.1 
Page 30 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
9. TOURISM AND TRAVEL 
RELATED SERVICES 
 
A. Hotels and Restaurants (excluding 
catering)  
 (CPC 641- 643, excl. 64230) 
  
 
 
1) Unbound 
2) None 
3) None 
4) Unbound  
  
 
 
1) Unbound 
2) Unbound  None  
3) None 
4) Unbound  
B. Travel Agencies and Tour Operator 
Services  (CPC 7471) 
 
 1) Unbound 
2) None 
3) Branches and subsidiaries are not 
allowed.  None other than that 
the establishment  operation must 
take the form of a locally 
incorporated registered 
company.  
4) Unbound 
 1) Unbound 
2) Unbound  None  
3) None other than the residency 
requirement of an appointed  
technical director in the Macao  
SAR . 
 
 
4) Unbound  
10. RECREATIONAL, CULTURAL 
AND SPORTING SERVICES 
 (other than audiovisual services) 
 
A.  Entertainment services  (including 
theatre, live bands and circus 
services) (CPC 9619) 
 
  
 
 
 
1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section and that 
the Circus and Magic 
Performers, Arts Performers 
shall be granted a stay as 
stipulated in the terms of 
contracts concerned, or an initial 
stay of one year, whichever 
comes shorter. 
  
 
 
 
1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound   
 
TN/S/O/MAC/Rev.1 
Page 31 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
B. News agency services  (CPC 962) 1)  None 
2) None 
3) None other than to establish a 
company in the form of sole 
proprietorship, the proprietor 
must be a Macao resident.  
 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
 1) None 
2) None 
3) None other than  to establish a 
company in the form of sole 
proprietorship, the proprietor must 
be a Macao resident.  the companies 
that do not have statutory 
headquarters and their main 
administration is not in the Macao 
SAR must appoint a representative 
who resides in the Macao SAR, and 
allocate capital to their activities in 
the Macao SAR.  
4) Unbound  
  
C. Libraries, archives, museums and 
other cultural services  (CPC 963) 
 1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section. 
 1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
     
TN/S/O/MAC/Rev.1 
Page 32 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
D. Sporting and other recreational 
services  
 
 Sporting services (CPC 9641)  
 
 
1) None 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound except as indicated in 
the horizontal section and that 
Jockeys, Vehicle Racing 
Drivers, Boxers, and Kinds of 
Ball Players shall be granted a 
stay as stipulated in the terms of 
contracts concerned, or an 
initial stay of one year, 
whichever comes shorter. 
  
 
 
1) None 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound   
 
TN/S/O/MAC/Rev.1 
Page 33 
 
Modes of supply:  1)  Cross-border supply  2)  Consumption abroad  3)  Commercial presence    4) Presence of natural persons 
Sector or sub-sector Limitations on  market access Limitations on nation al treatment Additional commitments 
11. TRANSPORT SERVICES 
 
H. Services auxiliary to all modes of 
transport  (excluding air transport) 
 b. Storage and warehouse services  (CPC 7421+7429)  
  
 
 
 
 
1) Unbound
* 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound 
  
 
 
 
 
1) Unbound* 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
c. Freight transport agency services 
 (CPC 748) d. Other (CPC 749) 1) Unbound 
2) None 
3) None 
 
 
 
 
 
 
4) Unbound 
 1) Unbound 
2) None 
3) None  other than the companies that 
do not have statutory headquarters 
and their main administration is not 
in the Macao SAR must appoint a 
representative who resides in the 
Macao SAR, and allocate capital to 
their activities in the Macao SAR.  
4) Unbound  
 
 
                                                      
* Unbound due to lack of technical feasibility TN/S/O/MAC/Rev.1 
Page 34 
 
 
 
ANNEX I 
 
Reference Paper on basic telecommunications services  
  
I. SCOPE 
 The following are definitions and principl es on the regulatory framework for basic 
telecommunications services. 
 II. DEFINITIONS 
Users
 mean service consumers and service suppliers. 
 Essential facilities
 mean facilities of a public telecommun ications transport network or service 
that 
  (a) are exclusively or predominantly provi ded by a single or limited number of 
suppliers; and 
  (b) cannot feasibly be economically or technically substituted in order to provide a 
service. 
 A major supplier
 is a supplier which has the ability to materially affect the terms of participation 
(having regard to price and supply) in the relevan t market for basic telecommunications services 
as a result of:  
 (a) control over essential facilities; or 
 
 (b) use of its position in the market. 
 1. Competitive safeguards
 
 
1.1 Prevention of anti-competitive practices in telecommunications  
 
 Appropriate measures shall be maintained fo r the purpose of preventing suppliers who, 
alone or together, are a major supplier from engagin g in or continuing anti-competitive practices. 
 
1.2 Safeguards  
  The anti-competitive practices referred to above shall include in particular: 
 
 (a) engaging in anti-compe titive cross-subsidization; 
 
 (b) using information obtained from competitors with anti-competitive results; and 
 
 (c) not making available to other services  suppliers on a timely basis technical 
information about essential facilities  and commercially relevant information 
which are necessary for them to provide services. 
 
  
 TN/S/O/MAC/Rev.1 
Page 35 
 
  2. Interconnection
 
 2.1 This section applies to linking with suppliers providing public telecommunications 
transport networks or services in order to allow the users of one supplier to communicate with 
users of another supplier and to access servic es provided by another supplier, where specific 
commitments are undertaken. 
 2.2 Interconnection to be ensured
 
 
 Interconnection with a major supplier will be ensured at any technically feasible point in 
the network. Such interconnection is provided: 
 
 (a) under non-discriminatory terms, conditions (including technical standards and 
specifications) and rates and of a quality no less favourable than that provided for 
its own like services or for like services of non-affiliated service suppliers or for its 
subsidiaries or other affiliates; 
 
 (b) in a timely fashion, on terms, conditions (including technical standards and 
specifications) and cost-oriented rates that are transparent, reasonable, having regard to economic feasibility, and sufficiently unbundled so that the supplier 
need not pay for network components or fa cilities that it does not require for the 
service to be provided; and 
 
 (c) upon request, at points in addition to  the network termination points offered to 
the majority of users, subject to charges that reflect the cost of construction of 
necessary additional facilities. 
 2.3 Public availability of the procedures for interconnection negotiations
 
 
 The procedures applicable for interconnectio n to a major supplier will be made publicly 
available. 
 
2.4 Transparency of interconnection arrangements  
 
 It is ensured that a major supplier will make publ icly available either its interconnection 
agreements or a reference interconnection offer.  
2.5 Interconnection:  dispute settlement
 
  A service supplier requesting interconnectio n with a major supplier will have recourse, 
either: 
 
 (a) at any time; or 
  (b) after a reasonable period of time which has been made publicly known 
 
 to an independent domestic body, which may be a regulator as referred to in paragraph 5 
below, to resolve disputes regarding appropriat e terms, conditions and rates for interconnection 
within a reasonable period of ti me, to the extent that these have not been established previously. 
  
 
 TN/S/O/MAC/Rev.1 
Page 36 
 
 
3. Universal service  
 
 Macao has the right to define the kind of unive rsal service obligation it wishes to maintain.  
Such obligations will not be regarded as anti-competitive per se , provided they ar e administered in 
a transparent, non-discriminatory and comp etitively neutral manner and are not more 
burdensome than necessary for the kind of universal service defined by Macao, China. 
 
4. Public availability of licensing criteria  
 
 Where a licence is  required, the following will be made publicly available: 
  (a) all the licensing criteria and the period of time normally required to reach a 
decision concerning an application for a licence; and 
  (b) the terms and conditions of individual licences. 
 
 The reasons for the denial of a licence will be made known to the applicant upon request.  
5. Independent regulators
 
  The regulator is separate from, and not accountable to, any supplier of basic 
telecommunications services.  The decisions of an d the procedures used by regulators shall be 
impartial with respect to all market participants.  
6. Allocation and use of scarce resources
 
 
 Any procedures for the allocation and use of  scarce resources, including frequencies, 
numbers and rights of way, will be carried out in an objective, timely, transparent and non-discriminatory manner.  The current state of allocated frequency bands will be made 
publicly available, but detailed identification of  frequencies allocated for specific government 
uses is not required.  TN/S/O/MAC/Rev.1 
Page 37 
 
   
ATTACHMENT TO ENERGY SERVICES 
 
 
Services incidental to electricity transmission and distribution include:
 
 
a. System control:  The control-area operato r functions that schedule generation and 
transactions before the fact and that co ntrol some generation in real-time to 
maintain generation/load balance; 
 
b. Reactive supply and voltage control:  The injection or absorption of reactive power 
from generators to maintain transmission -system voltages within required ranges; 
 
c. Regulation:  The use of generation equipped with governors and automatic-
generation control to maintain minute-to -minute generation/load balance within 
the control area to meet co ntrol-performance standards; 
 
d. Dynamic scheduling:  Real-time metering, telemetering, and computer software 
and hardware to electronically transfer some  or all of a generator’s output or a 
customer’s load from one control area to another; 
 
e. Network-stability services:  Maintenance and use of special equipment, including 
testing, (e.g., power-system stabilizers an d dynamic-braking resistors) to maintain 
a secure transmission system. 
 
 
 
__________