#China #Xi Jinping #Macao

Macao's Journey to Prosperity: A 25-Year Retrospective

Macao, known as the 'Pearl of China', has undergone significant transformation since its return to Chinese sovereignty 25 years ago. Originally a modest territory, it has rapidly ascended to become one of the wealthiest regions in Asia and the world. According to recent data, Macao's GDP reached approximately 379.5 billion MOP (around 47.5 billion USD) in 2023, marking an impressive sevenfold increase since 1999.

During a recent visit to Macao, President Xi Jinping referred to the city as a glowing jewel in China's crown, highlighting the success of the 'One Country, Two Systems' policy that has underpinned Macao’s growth. This policy has not only fostered economic development but has also allowed Macao to maintain its unique cultural identity while benefiting from mainland China's rapid economic expansion.

Since its reunification, Macao has seen around 2.8 billion trips between it and Zhuhai City, a neighboring area that has facilitated its growth. The number of border checkpoints has increased from two to seven, demonstrating the growing interconnectedness of the region. The Hengqin Port stands out as one of the busiest, serving the thriving economic zone established to encourage deeper cooperation between Guangdong Province and Macao.

The Guangdong-Macao Deep Cooperation Zone was created in 2021 and has turned into a vibrant hub for innovation and entrepreneurship. With close to 6,500 investor enterprises now operating in Macao, the area is a focal point for new industries and development. This collaboration reflects the central government's strong commitment to supporting Macao's integration into national development goals.

President Xi expressed his gratitude towards the residents of Macao, affirming their achievement as a source of pride for the entire nation. The ongoing cooperation between Macao and mainland China is seen not only as beneficial but as essential for continuing progress and modernization.

As Macao prepares to celebrate its anniversary, government officials anticipate significant advancements in both economic performance and citizens' quality of life. President Xi’s visit included attending ceremonies for the inauguration of the sixth government term for the Macao SAR, a reflection of the region's governance and evolving political landscape.

Looking forward, Xi remains confident that Macao will continue to harness its unique advantages under the 'One Country, Two Systems' framework. He emphasizes the need for further innovation and hard work as Macao progresses into its next chapter, seeking to solidify its status as a leading international city.

Assessments from the past decades indicate that while challenges persist, the notable strides made since 1999 symbolize Macao's resilience and adaptability. The region's approach to combining tradition with modern economic strategies serves as a model for other territories striving for growth.

Overall, Macao's journey reflects not only a physical and economic transformation but also an evolving narrative that emphasizes collaboration, heritage, and a promising future. As the world watches, Macao stands ready to embrace new opportunities on the global stage, a shining example of progress underpinned by unity and shared vision.