Macao's integration with national development to drive economic diversification: SAR official

China

Macao's integration with national development to drive economic diversification: SAR official

2024-12-07 17:15 Last Updated At：19:17

⁠⁠⁠⁠⁠⁠⁠The Macao Special Administrative Region (SAR) 's integration into overall national development while leveraging its unique advantages serves as a driving force for its economic diversification, said Lei Wai Nong, Secretary for Economy and Finance of the Macao SAR.

This year marks the 25th anniversary of Macao's return to the motherland. It also marks the start of the implementation of Macao's first development plan for economic diversification, which is set to run until 2028.

Lei, who will leave his post this month, believes that the plan is a clear roadmap for Macao's industrial development, aiming to break through the limitations of its current single-industry economic structure.

"The 25 years since Macao's return to the motherland have brought tremendous changes to its economic, social, and livelihood development. However, Macao's industrial development remains a shortcoming. To address this, on November 1 last year, the administration introduced what is considered Macao's first industrial plan since its handover. Now, with a clear direction, enterprises have more specific goals for advancing science and technology. The SAR Government, in collaboration with the community, has developed an industrial plan to drive diversified development from 2024 to 2028," Lei said at a press conference for the 25th anniversary of Macao's return to the motherland last month.

The Macao SAR aims to bolster several core industries beyond gaming, including modern finance, health and wellness, culture, and sports. Lei emphasized the crucial role of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, established in 2021, in supporting this diversification effort.

"With the support of the central government, we are diversifying Macao's economic elements. In terms of momentum, the establishment of the Hengqin Cooperation Zone on September 17, 2021 has been pivotal in supporting the diversification of Macao's economy. We sincerely hope that the risk management measures implemented on March 1 this year will align closely with Macao's high-tech industries, traditional Chinese medicine, Macao-branded industries, finance, and conference and exhibition sectors.The future development of Macao must integrate with Hengqin. This collaboration will serve as a significant driving force in shaping the next chapter of Macao's growth," he said.

ROK president calls for learning lesson from anti-aggression history

The Republic of Korea (ROK) and China should cherish the historical experience of jointly resisting aggression and continue to work together for a prosperous future, said ROK President Lee Jae Myung.

At the invitation of Chinese President Xi Jinping, Lee will pay a state visit to China from Jan 4 to 7. It will be Lee's first visit to China since he took office last year.

In an interview with China Media Group (CMG) in Seoul on Wednesday, Lee said that humanity must learn from the past to prevent the tragedy of war from repeating itself.

"While pursuing their own national interests to the fullest extent, countries must not harm the national interests of others, but should coexist peacefully. The act of invading other countries and massacring their people for one's own benefit must never be repeated. History of humanity often repeats itself, therefore we must learn from the past. In this regard, I believe the historical experience of ROK and China in resisting aggression and fighting together is invaluable. Of course, while historical experience is important, we cannot remain stuck in the past. For a better future for the people of both countries, we need to continuously explore possibilities for working together towards the future," said the president.