During his three-day visit to Macau, President Xi Jinping celebrated the 25th anniversary of its return to China, promoting the ‘One Country, Two Systems’ principle and advocating for economic diversification beyond gambling, aligning with the Greater Bay Area initiative.

Chinese President Xi Jinping’s visit to Macau commemorates the 25th anniversary of the former Portuguese territory’s reversion to Chinese sovereignty. His three-day stay highlighted Macau’s role as a model under the “One Country, Two Systems” framework, similar to Hong Kong, emphasizing the need for economic diversification beyond gambling. In his speech, Xi urged local governance to attract global talent and enhance international recognition while also reinforcing the concept of the Greater Bay Area, aiming to strengthen economic ties among southern Chinese cities. During his visit, Xi toured the Guangdong-Macao In-Depth Cooperation Zone on Hengqin Island, indicating a strategic shift towards non-gaming industries. He expressed optimism about Macau’s stability and potential, reiterating a vision for sustainable development in alignment with national strategies.

Macau, a former Portuguese colony, has developed its economy primarily around the gambling industry, which constitutes over 80 percent of its government revenue. The region serves as a unique case under the “One Country, Two Systems” policy allowing it greater autonomy compared to other parts of China, like Hong Kong. This visit comes amidst calls for Macau to broaden its economic base and enhance its international standing, aligning with China’s Greater Bay Area initiative aimed at integrating regional economies.

In summary, President Xi Jinping’s visit to Macau signifies a pivotal moment in the region’s governance and economic evolution, advocating for a transition away from an over-reliance on the gambling sector. His emphasis on embracing global talent and promoting diversified industries speaks to broader aspirations for Macau as a thriving part of China’s ambitious Greater Bay Area economic strategy. By reinforcing stability and investment in non-gaming sectors, Xi aims to secure Macau’s future viability and prosper in a changing global landscape.

Original Source: www.asianews.it

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