#China #Xi Jinping #Macao

Macao's Remarkable Transformation: 25 Years of Success

Macao, often referred to as a 'pearl on the palm' of China, has witnessed astonishing growth since its return to China. In just 25 years, this Special Administrative Region (SAR) has evolved from a modest territory into one of Asia's wealthiest cities. The latest figures reveal that Macao's GDP has skyrocketed to approximately 379.5 billion Macanese Patacas (about 47.5 billion USD) in 2023, marking a significant sevenfold increase since 1999.

This transformation is a testament to the successful implementation of the 'One Country, Two Systems' policy, a framework that has afforded Macao a high degree of autonomy while remaining a part of China. Chinese President Xi Jinping lauded this achievement during his visit to the region to commemorate the anniversary, stating that the vitality and charm of Macao have captured global attention.

The Rise of Macao

The journey of Macao over the last quarter-century has been marked by robust economic policies and strong support from the central government in Beijing. One notable initiative is the Guangdong-Macao In-depth Cooperation Zone, established in 2021 on Hengqin Island. This zone has been pivotal in enhancing collaboration between Macao and Zhuhai, its neighboring city.

Since 1999, approximately 2.8 billion trips have been made between Macao and Zhuhai. The increase in checkpoints between these two areas—from two in 1999 to seven currently—highlights the growing connectivity and integration of these regions. Hengqin Port has emerged as one of the busiest crossings, facilitating trade, tourism, and cultural exchanges.

Government Support and Policy Integration

The Chinese central authorities have rolled out various policies aimed at integrating Macao into the broader national development strategy. These initiatives have significantly contributed to Macao's transformation into a modern metropolis, characterized by improved living standards and employment opportunities for its residents. The investments in infrastructure and innovations have attracted thousands of enterprises, with nearly 6,500 Macao-invested companies established in the cooperation zone alone.

During his visit, President Xi emphasized that the achievements of Macao represent not just local pride but also the glory of all Chinese people. He expressed confidence in Macao's continual growth, predicting an even brighter future as it leverages its unique status within the framework of 'One Country, Two Systems'.

Looking Ahead

The commitment to fostering innovation and entrepreneurship will be crucial as Macao continues to enhance its economic landscape. With ongoing support and guidance from the central government, Macao is poised to further solidify its identity as an international business hub.

Macao's remarkable story over the past 25 years is a powerful narrative of resilience, adaptation, and success that resonates beyond its borders. As it celebrates this significant milestone, the city looks forward with optimism, ready to tackle future challenges and seize new opportunities.

This remarkable transformation serves not only as an inspiration for other regions but as a celebration of what can be achieved through positive governance and collaboration.