Unique advantages drive Macao's sustainable economic development: official

China's Macao Special Administrative Region (SAR) has seen remarkable economic progress over the years, with the region's business environment enjoying distinct advantages that are driving its sustainable development, according to a local official.

Macao's gross domestic product (GDP) reached 301 billion Macanese pataca (MOP) (about 37.5 billion U.S. dollars) for the first three quarters of 2024, marking a real year-on-year growth of 11.5 percent, according to data from the Statistics and Census Service of the Macao SAR Government.

This marks the first time since 2019 that Macao's GDP for the first three quarters has surpassed the 300 billion MOP level, with service exports increasing by 11.4 percent year on year.

The continued improvement in Macao's local economic conditions and job market has led to rising incomes for residents, fueling steady growth in private consumption. In the first three quarters of this year, the consumer expenditure rose by 5.8 percent year on year.

Speaking in a recent interview with China Global Television Network (CGTN), Vincent U, president of the Commerce and Investment Promotion Institute of the Macao SAR, highlighted three key figures that illustrate Macao's unique advantages.

"Regarding the unique advantage, I would like to share three figures with you. Firstly, is one, the most important advantage of Macao is the 'One country, two systems'. Under one country, two systems, we have a series of advantages. And the second figure is nine. We are designated by the central government as the only place, as the platform between China and Portuguese speaking countries for economic cooperation. And as you may know, Portuguese speaking countries compose of nine countries, with nearly 300 million population, which is a huge market," the president continued.

U also noted the significance of the Guangdong-Macao in-depth cooperation zone in Hengqin, Zhuhai City, which has helped Macao address the long-standing spatial constraints.

"And lastly, the figure is 106; 106 meaning the land space [area] of Hengqin, the Hengqin-Guangdong-Macao in-depth cooperation zone. Why did I share that? Because as you may know, Macao is a very small place. The land space is a very bad limitation for us. And because it is a long term problem for us, the 106 square kilometers of land space of Hengqin has transformed this situation. And it is very meaningful for us, especially for our sustainable economic development in the future," said the president.

In 2021, the Chinese central authorities decided to build the cooperation zone in Hengqin, making the island an important new growth point for Macao's economy.

By 2035, the 106-square-kilometer area is expected to become a strong growth engine for the Guangzhou-Zhuhai-Macao science and technology innovation corridor and have helped promote appropriate diversity in Macao's economy.

Unique advantages drive Macao's sustainable economic development: official

The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.

In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.

"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.

Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.

The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."

Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.

President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.

Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.

Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.

The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.

Iranian president says government focusing on ensuring supplies amid protests