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HomeNewsMacauChinese central government official urges Macau to “do more” to diversify its economy 

Chinese central government official urges Macau to “do more” to diversify its economy 

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China has returned to set Macau on the path to shedding its reliance on casinos, as China’s top official for Macau affairs arrived at Macau on Monday for a fact-finding visit. 

economy, Macau, diversification
Xia Baolong, Director of the Hong Kong and Macau Affairs Office of the State Council

After a meeting with Macau’s leaders, messages from the central government to the gaming hub’s leader were shared via a press release. 

Xia Baolong, the director of the Hong Kong and Macau Affairs Office of the State Council, calls for Macau officials to “do more” on pushing economic diversification, saying that this avenue is the only road to keep Macau’s prosperity.

Xia says that he hopes Macau can enhance its economic resilience and elevate its risk resistance.

Xia also praised the leadership of Macau’s chief executive and Macau society, indicating that Ho Iat Seng has worked hard to strengthen the regulation of the gaming industry, concretely: the revision of the gaming law, new gaming concessions (then new 10-year licenses), and “using the law to secure healthy development” of the gaming industry in Macau.

Macau recorded a historical high gross going revenue (GGR) in 2013 with MOP361 billion ($44.8 billion). The downtrend only changed in mid-2016.

Macau recorded MOP292 billion GGR in 2019, when Macau had a historical high of visitor arrivals – with 39.4 million visitors that year. 

MACAU-TOURISM-and-gaming-on-Years
Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

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