President Xi Wants Macau to Diversify from Gambling

Key Points

·         Xi encourages Macau to synchronize with national development strategies.

·         Macau's economy is significantly dependent on the casino sector.

·         The new leader, Sam Hou Fai, aims to promote economic diversification.

Xi Jinping has emphasized the necessity for Macau to focus on economic diversification as its primary objective during the conclusion of his three-day visit to the Chinese gambling center, commemorating the 25th anniversary of its transition from Portuguese to Chinese sovereignty.

His comments were made on Friday at the inauguration ceremony for Macau's new chief executive, Sam Hou-fai, marking the fourth leadership since the 1999 handover.

Experts suggest that Sam, who is notable for being the first chief executive born in mainland China and the first without significant connections to the business community, is likely to align with Beijing's initiative to encourage Macau to expand its economic activities beyond the gambling industry. This sector, which accounts for approximately 80 percent of the city's tax income, has positioned Macau as one of the fastest-growing economies globally in recent decades.

Initially, Xi emphasized the importance of promoting suitable economic diversification in Macau, urging Sam's administration to enhance policy support and invest in emerging industries.

Furthermore, Xi stated that the "one country, two systems" framework, which facilitated the return of Macau and the adjacent former British territory of Hong Kong to Chinese governance, must be maintained "for an extended period" to guarantee the city's "prosperity and stability.

President Xi Wants Macau to Diversify from Gambling and Synchronize with national development strategies

China's leader, who arrived in Macau on Wednesday, expressed his anticipation for engaging with various stakeholders throughout the city. He also toured the Macau University of Science and Technology, where he received updates on laboratories focused on traditional Chinese medicine and planetary science, and attended a cultural performance at the Macau dome, as reported by Chinese state media.

Anthony Lawrance, founder of the consultancy Intelligence Macau, remarked, "Xi's visit holds considerable importance not only for its symbolic value but also for the messages it conveys. This will mark the first occasion on which he commends Macau for its accomplishments. His previous visits were characterized by admonitions and pressures." that has all of the games you want to play.  If you like to play with live dealers then choose one that has a wide array of live dealer casino games.  If you like to play slot machines then choose one that offers hundreds of slot machines and big prizes.

 Macau, the sole Chinese region where gambling is permitted, has experienced a significant influx of investment following the deregulation of its gaming monopoly in 2002. This includes substantial contributions from US-listed casino companies such as Las Vegas Sands, MGM, and Wynn.

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