Macau’s Transformation: China Pledges Support for Economic Diversification
The Chinese government has committed to fully backing Macau’s ongoing progress and transformation, with the goal of assisting the region in broadening its economic activities and attaining steady expansion.
In the course of a recent three-day trip, high-level Chinese representative Zhang Dejiang stressed the importance of economic diversification for Macau and vowed increased aid from the mainland. He emphasized the possibilities of simplifying visa processes to enhance tourism and interpersonal connections between Macau and mainland China.
Addressing a gathering at the Macau East Asian Games Dome, Zhang Dejiang underscored Macau’s strategic significance and commended the region’s noteworthy accomplishments since its reunification with China in 1999. Nevertheless, he observed that Macau is at a pivotal point and must modify its developmental approach.
Although Zhang Dejiang did not specifically reference the gambling sector, the Chinese administration has been urging Macau to establish itself as an international hub for leisure and tourism, moving past its dependence on gaming. This encouragement comes as Macau’s gaming income experienced a 16.3% year-over-year rise in April, reaching 20.2 billion patacas (roughly US$2.52 billion), as per the Gaming Inspection and Coordination Bureau. Despite this recent upswing, the gaming industry still represents approximately half of Macau’s GDP, underscoring the necessity for diversification.
