Macao's Flourishing Journey Under the 'One Country, Two Systems'
Macao's Flourishing Journey Under the 'One Country, Two Systems'
Chinese President Xi Jinping recently highlighted the remarkable success of the 'one country, two systems' framework in Macao, showcasing its unique charm and vitality. His arrival in Macao underscored the significant role this region plays as an integral part of the motherland. As he described, Macao can rightly be called 'a pearl on the palm' of China, reflecting its rich culture and potential.
The Significance of the Recent Gatherings
President Xi's visit coincided with a major gathering celebrating the milestone anniversary of Macao's return to China, coupled with the inauguration of the new government of the Macao Special Administrative Region (SAR). Through his words, he expressed optimism and pride for the residents, reinforcing the connection between Macao and the broader Chinese nation.
Xi's Acknowledgment of Local Leaders
During his visit, President Xi met with Ho Iat Seng, the outgoing chief executive of Macao. He commended Ho’s hard work and leadership, acknowledging the challenges faced during his term. This recognition emphasizes the importance of local governance in contributing to Macao's success story.
Festive Atmosphere and Community Sentiment
The streets of Macao buzzed with energy, adorned with banners celebrating achievements and welcoming the president's visit. Local citizens expressed a shared excitement about future opportunities as they reflected on the positive trajectory of their community. Law professor Luo Weijian noted that Xi’s visit is a beacon of confidence for Macao’s future.
A Unique Model of Governance
Since the transition from Portuguese rule to Chinese sovereignty in 1999, Macao has embraced the 'one country, two systems' principle, allowing it to maintain its distinct capitalist system within the socialist framework of China. This arrangement has proven effective in fostering a robust relationship with the central government while preserving local autonomy.
Strengthening Economic and Cultural Ties
With strong backing from the central authorities, Macao has expanded its international presence through trade and cultural exchanges. The partnership with over 120 countries and regions illustrates Macao's vibrant global connections and showcases its aspirations to become a pivotal player on the world stage.
Commitments to National Development
Macao has prioritized aligning with national strategies to bolster economic diversification. The focus on integrating its development with mainland initiatives has yielded significant outcomes, as seen in the booming sectors of real estate and services, which are crucial in shaping the future economy.
Economic Evolution and Resilience
The economic landscape of Macao has drastically transformed over the past 25 years. Although the gambling sector once dominated the economy, the focus has shifted towards a balanced contribution from diverse industries, surpassing previous benchmarks in non-gaming revenues.
Quality of Life Improvements
This economic evolution is accompanied by improvements in living standards, including a substantial increase in median incomes and low unemployment rates. Such conditions reflect the resilience and adaptability of Macao’s economy and society.
Navigating Forward with Strategic Vision
As one of the core cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Macao is positioned to leverage its unique status for further growth. It stands out as a free port with distinct customs autonomy, enhancing its global business appeal.
Reflecting on 25 Years of Progress
Looking back on the past 25 years of Macao's development, it is evident that the 'one country, two systems' principle has not only facilitated its governance but has also empowered its emergence on the global stage. The achievements reflect a remarkable journey marked by the resilience, creativity, and aspirations of its people.
Frequently Asked Questions
What does 'one country, two systems' mean for Macao?
This principle allows Macao to maintain its unique capitalist system while being part of mainland China, fostering local governance and cultural identity.
What recent events did President Xi attend in Macao?
Xi attended a gathering commemorating the 25th anniversary of Macao's return to China and the inauguration of the new local government.
How has Macao's economy changed over the years?
While gambling was once the primary economic driver, the non-gaming sector now contributes significantly to the GDP, showcasing diversification.
What is the current unemployment rate in Macao?
Macao has maintained an unemployment rate below 2 percent, reflecting a strong job market and economic stability.
How does Macao benefit from being part of the Greater Bay Area?
As a core city within this framework, Macao can leverage its unique attributes to enhance trade, cultural exchange, and economic development opportunities.
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