China’s President Xi Jinping arrived in Macau on Wednesday to mark a quarter century of Beijing’s rule over the former Portuguese enclave. Xi is likely to urge further diversification of Macau’s economy, which is heavily dependent on the casino industry.
Macau, a special administrative region of China, returned to Chinese rule in 1999 under the “one country, two systems” formula as Hong Kong. The city’s economy is largely driven by casinos, with tax revenue from the industry contributing around 80% of regional income.
Xi’s visit comes ahead of the inauguration of Macau’s new chief executive, Sam Hou Fai, who will become the first leader born and raised in mainland China. Xi has called for diversification of the Macanese economy since taking office in 2013, including casinos and anti-corruption measures.
During his three-day visit, Xi is scheduled to attend a banquet dinner, cultural performance, and inauguration ceremony, where he will meet with Sam Hou Fai and other officials. The city’s government has rolled out an economic blueprint focused on tourism and leisure, which aims to reduce reliance on the casino industry.
Xi praised Macau as the “jewel of the motherland” and expressed concerns about its development and residents’ well-being. He will also take a walk around the city to discuss development plans with officials and residents.
The visit marks 25 years since Macau returned to Chinese rule, and Xi’s presence is seen as an opportunity for Beijing to promote its vision for Macau’s economic diversification and stability.
Source: https://www.reuters.com/world/china/xi-jinping-visits-macau-mark-25-years-chinese-rule-2024-12-17