#China #Xi Jinping #Macao #one country two systems

Macao: A Pearl on the Palm of the Motherland

On December 19, 2024, Chinese President Xi Jinping arrived in Macao to commemorate a momentous event: the 25th anniversary of Macao's return to China. His visit underscores a thriving Macao, often described as a "pearl on the palm" of its motherland, showcasing the successful implementation of the "one country, two systems" principle. This unique approach has allowed Macao to preserve its distinct capitalist systems while being firmly part of socialist China.

In his remarks at the airport, President Xi expressed confidence in Macao's bright future and acknowledged the substantial groundwork laid by the outgoing Chief Executive, Ho Iat Seng, who has skillfully navigated numerous challenges during his tenure. The festive atmosphere throughout Macao, adorned with banners celebrating the anniversary, highlights the community's pride and optimism.

Achievements Under One Country, Two Systems

Since the transition from over 400 years of Portuguese rule in 1999, Macao has emerged as a vibrant center for international exchange and cooperation. Fueled by support from the central government, Macao has actively built relationships with over 120 countries and established sister city ties with 13 cities worldwide. The region's significant growth in trade, particularly with countries along the Belt and Road Initiative, resulted in record import and export figures, amounting to nearly 30 billion RMB in 2023.

Luo Weijian, a law professor at the University of Macao, emphasized that President Xi Jinping’s visit not only strengthens communal ties but also injects renewed confidence into Macao's ongoing evolution under the principles of "one country, two systems." Local officials are optimistic that this visit will encourage further advancements in Macao’s economic diversification and integration into national development strategies.

Economic Diversification and Resilience

Over the past 25 years, Macao’s economy has undergone significant transformation. Initially reliant on its gambling sector—which constituted over 60% of its GDP before the pandemic—the local economy has successfully diversified. By 2023, contributions from non-gaming sectors surpassed 60% of the GDP, thanks to a booming real estate market and the growth of financial services. Chief Executive Ho highlighted this progress, marking economic integration with mainland China as vital for sustained development.

Underlining the effectiveness of local governance, Macao has maintained an impressively low unemployment rate and witnessed substantial growth in median monthly incomes. From 4,920 patacas in 1999 to an impressive 17,500 patacas in 2023, this financial growth reflects the region's resilience and adaptive strategies in a rapidly changing global economy.

Strong Governance and National Security

Macao's unique governance model, established in adherence to national security laws, has grown increasingly robust. The balanced cooperation among the executive, legislative, and judicial branches ensures stability, which continues to underpin Macao's development trajectory. The local government efficiently aligns with national interests while invoking its autonomy under the “one country, two systems” principle.

Reflecting on the past quarter-century, observers note that few anticipated the level of success Macao would achieve. Its rise as an international destination and economic powerhouse can be attributed to effective governance and the active involvement of its residents in fostering a dynamic community aligned with national priorities.

As Macao celebrates this milestone, the collective sentiments of pride, ambition, and hope for the future are palpable. The community looks forward to navigating new avenues for growth and innovation, ensuring that Macao remains not just a cherished pearl in China's palm, but also an influential global player contributing to the rich tapestry of modern international relations.

Conclusion

The 25th anniversary of Macao's return to China is more than a commemoration; it is a testament to resilience, ambition, and the successful practice of a unique governance model that can serve as an example for other regions. With leaders like Xi Jinping advocating for its potential and a community eager to embrace the future, Macao's journey is poised for even greater chapters ahead.