Amid festive vibes and excitement, the Macao Special Administrative Region (SAR) lit up on Friday to celebrate the 25th anniversary of its return to China 🎇. The city wasn't just celebrating its past but also ushering in a new era with the inauguration of the sixth-term government 🎊.
Chinese President Xi Jinping addressed the jubilant crowd, emphasizing that Macao's growth since its return has showcased the vitality of the \"One Country, Two Systems\" framework. \"The world has witnessed the remarkable success of this policy,\" he said, highlighting shared values of peace, inclusiveness, openness, and collaboration 🤝.
🌟 A Quarter Century of Transformation
Since 1999, Macao has undergone an incredible transformation! Its GDP skyrocketed to approximately 379.5 billion MOP (around $47.4 billion) in 2023—an impressive sevenfold increase 💹. Per capita GDP more than quadrupled, reaching around $70,000. Talk about a glow-up! ✨
On Forbes' 2024 list of the world's richest places, Macao snagged first place in Asia and second globally 🌏. With an average life expectancy of 83.1 years and an unemployment rate below 2%, it's clear that Macao is living its best life 👏.
Tourism has exploded too! From welcoming 6.6 million visitors in 1999 to a whopping 39.4 million in 2019. By December 7 this year, over 32 million travelers experienced Macao's magic—a 26% jump from last year 🛫. They're on track to hit 33 million visitors by year's end. Get those passports ready! 📸
🚀 Embracing a New Stage
President Xi highlighted that \"One Country, Two Systems\" has entered a new stage and encouraged Macao's new government to diversify its economy, boost governance, and enhance its role in international cooperation 🌐.
With unique advantages like free trade port status and a simple, low-tax environment, Macao is flexing on the global stage 💪. Initiatives like the Guangdong-Hong Kong-Macao Greater Bay Area and the Hong Kong-Zhuhai-Macao Bridge are connecting Macao more closely with the world.
Macao isn't just looking inward. It's established ties with over 120 countries and regions, participating in more than 190 international organizations 🌍. It enjoys visa-free or visa-on-arrival access to 147 countries and regions. Jet-set goals, anyone? ✈️
The city's involvement in the Belt and Road Initiative is also supercharging global economic growth. In 2023, Macao's exports to Belt and Road partner countries reached 770 million MOP—a 47.8% increase! 📈 Imports hit 30.92 billion MOP, up 18% from last year.
Last year, Macao and Hengqin went global, hosting nearly 350 business matchmaking events across countries like Singapore, Malaysia, and Portugal. They inked 17 cooperation agreements, proving that teamwork makes the dream work! 🤝
President Xi wrapped up his speech with a vote of confidence: As long as \"One Country, Two Systems\" is implemented thoroughly and unwaveringly, Macao's future is brighter than ever ✨.
Reference(s):
Macao SAR embarks on new chapter of 'One Country, Two Systems'
cgtn.com
