Chinese President Xi Jinping Praises Macao's Progress on Its 25th Anniversary

A Celebration of Macao's Achievements Under Xi Jinping's Leadership

On December 20, 2024, Chinese President Xi Jinping celebrated the remarkable progress made by the Macao Special Administrative Region (SAR) during the past five years, a period described as "extraordinary". His remarks were delivered during a welcoming dinner organized by the SAR government, coinciding with the 25th anniversary of Macao's return to China.

Xi noted Macao's significant strides amidst unprecedented challenges, including a global transformation and a pandemic that have warranted a resilient response. The fifth-term Macao government rallied different sectors within the community, driving tangible results towards economic recovery and advancing various initiatives aimed at improving the overall well-being of its residents.

In the face of a rapidly changing global landscape, Xi highlighted Macao's progress in diversifying its economy—an effort critical for enhancing public welfare and positioning the region for future growth. He acknowledged that the steadfast love for the Chinese nation among Macao citizens has fortified the political and social foundations necessary for the SAR's advancement.

Macao's success, according to Xi, is a direct consequence of robust support from the central government, the commitment to the "one country, two systems" policy, and a collective effort by the local populace. He stressed the importance of aligning Macao's development strategies with national goals, particularly as part of the Guangdong-Hong Kong-Macao Greater Bay Area initiative. This strategic alignment will enable Macao to amplify its role on the international stage.

During his visit, Xi engaged various sectors, including officials from the executive, legislative, and judicial branches, and representatives across the Macao community to discuss the future direction of the SAR. He also visited educational institutions like the Macau University of Science and Technology (MUST) and underscored the need to promote Traditional Chinese Medicine (TCM) as a facet of the local economy. In recent years, TCM has emerged as a focal point for economic diversification in Macao, showcasing the region's potential to pioneer world-class research.

Economic diversification remains critical for Macao, which has historically been reliant on the tourism and gaming industries. The global financial crisis and the COVID-19 pandemic underscored the need for a balanced economic structure. New initiatives, such as the recent release of the “Development Plan for Appropriate Economic Diversification of the Macao Special Administrative Region (2024-2028),” aim to promote a more varied industrial landscape. The strategy encompasses the development of four emerging sectors: health care, financial services, high technology, and conventions, gradually transitioning Macao to a robust multifaceted economy.

Moreover, the cooperative dynamics established with neighboring Guangdong Province under the Hengqin Cooperation Zone have facilitated an integrated approach to development. The physical and administrative collaboration has fostered a conducive environment that benefits both Macao and Guangdong, encapsulating the shared vision under the Greater Bay Area framework.

As of September 2024, over 6,000 Macao enterprises and nearly 17,000 residents have relocated to the cooperation zone, marking a testament to the deepening integration and cooperative efforts in the region. The Light Rapid Transit connection between Macao and Hengqin symbolizes the tangible realization of the Greater Bay Area's "one-hour living circle," enhancing accessibility and fostering a robust economic partnership.

In summary, Macao finds itself at a crucial juncture, buoyed by Xi Jinping's recognition of its accomplishments over the past five years. The SAR is not only encouraged to continue along its path of diversification and development but is also positioned to leverage its unique regional advantages in collaboration with the larger national strategy. The next decade will be pivotal as Macao writes a new chapter in its history, aiming for enduring prosperity and stability under the guidance of its government and the support of the central authorities.