Crowds gather to give warm welcome to President Xi in Macao

People from various sectors of society gathered at Macao International Airport to welcome Chinese President Xi Jinping, who arrived in the Macao Special Administrative Region (SAR) on Wednesday.

President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, will attend a gathering celebrating the 25th anniversary of Macao's return to the motherland and the inauguration ceremony of the sixth-term government of the Macao SAR on Friday.

"I feel really excited right now, because it's the first time I have such an opportunity [to participate in this activity]. I was born in 1999, the same year as Macao's return to the motherland. So, this year also marks that I've reached 25," said Chin Tung Yee, a graduate student at the University of Macau.

The school of Escola Choi Nong Chi Tai organized a welcoming lion dance performance at the airport to greet Xi's arrival.

Siu Chi Hung, director of moral education department at the school, noted that the support of the motherland has propped up the rapid development of Macao.

"I'm very excited and happy, because the anniversary is truly a great day. Over the past 25 days, our country has really taken great care of Macao," said Siu.

Wong Ka Lon, chairman of Macao Youth Federation, said that the Guangdong-Hong Kong-Macao Greater Bay Area has provided Macao with a broad platform for development.

"The government has given Macao youths a lot of convenience, respect and opportunities. Especially now, the establishment of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin has provided us with a platform for development that makes our future even more promising. We're full of expectations for our future," he said.

On December 20, 1999, the Chinese government resumed its exercise of sovereignty over Macao and established the Macao SAR.

Since its return to the motherland, Macao has achieved significant economic growth. Reflecting the robustness of Macao's economy and its fiscal strength, the SAR's fiscal reserves stood at around 617 billion Macao patacas (MOP) (around 77.22 billion U.S. dollars) as of September 2024, an increase of 43.5 billion MOP compared with the same period in 2019.

The Eurozone Manufacturing Purchasing Managers' Index (PMI) fell to 50.5 in March, down from 51.9 in February, according to the data released by S and P Global and Hamburg Commercial Bank on Tuesday.

The report noted that the Eurozone Services PMI Business Activity Index fell to 50.1, its lowest level since last May. New orders in the services sector declined for the first time in eight months, weighing on overall economic growth.

It also pointed out that the rate of input cost inflation accelerated sharply following the outbreak of war in the Middle East to the fastest in just over three years. Selling prices also rose at a sharper pace, but the acceleration was much less pronounced than seen for input costs. The war also caused disruption to supply chains, with manufacturers reporting the most marked lengthening of suppliers' delivery times in over three-and-a-half years.