In 2023, Macau's economy will take solid steps towards moderate and diversified development
2023-12-26
As the end of the year approaches, despite the arrival of a cold wave, various attractions and commercial districts in Macau are still bustling with tourists, outlining the bustling scene of this charming city. In 2023, under the leadership of the SAR government, all sectors of Macau actively seized opportunities, pragmatically and orderly implemented the "1+4" moderately diversified economic development strategy, strengthened the legal management of the gambling industry, and promoted the construction of the Hengqin Guangdong Macao Deep Cooperation Zone. The main economic indicators of the SAR remained stable and improving, and society was revitalized. With the implementation of a series of plans and measures, the specific goals, main tasks, and key projects of Macao's future industrial development have become clearer, and solid steps have been taken towards moderate and diversified economic development. The 2023 Financial Year Policy Address of the Macao Special Administrative Region Government clearly proposed the "1+4" moderately diversified development strategy, which aims to promote the diversified development of tourism and leisure, optimize, refine, and strengthen the comprehensive tourism and leisure industry in accordance with the goal of building a world tourism and leisure center; "4" is to continuously promote the development of four key industries, including big health, modern finance, high-tech, exhibition and trade, and cultural and sports. In 2023, the SAR government actively promotes cross-border integration of tourism, strengthens the linkage development of tourism industry with multiple industries, and takes enriching community tourism elements and revitalizing community economy as the focus to promote the recovery of comprehensive tourism and leisure industry. It also launches the revitalization work of multiple historical and cultural areas to attract residents and tourists to consume. Preliminary statistics show that the number of inbound tourists to Macau increased by 3.6 times year-on-year in the first three quarters. "As a pillar industry in Macau, the comprehensive tourism and leisure industry has recovered well this year, and the industrial structure is also trending towards diversification." Yu Weiheng, Secretary General of the Macau Innovation and Development Research Association, said that this will help Macau enrich the connotation of the "World Tourism and Leisure Center" and greatly benefit the development of various fields such as entertainment, sports, and culture. This year, Macau accelerated the cultivation of the bond market, improved financial infrastructure, and promoted the integration of the bond market with the international community. As of September, the stock of unexpired bonds issued or listed in Macau is MOP 447.2 billion. New financial institutions such as Didi Guantong, which provide financing services for small and medium-sized enterprises, have settled in Macau for operation, and multiple licensed financial institutions have successively opened and operated. This year, the Macau SAR government has followed up on more than ten technology industry investment plans, supporting the landing of a number of scientific research achievements with transformation and application prospects. At the same time, establish a research and development funding system for enterprises. "The government's continuous investment of resources is crucial for science and technology innovation small and medium-sized enterprises that urgently need transformation and upgrading after the epidemic," said Yu Weiheng. This year, Macau's large-scale exhibitions have been continuous, and the image of an international exhibition city has been constantly improving, earning it the title of "Best Asian Conference City". The hosting of high-level events such as the Macau Grand Prix and WTT Macau Championship has effectively promoted the coordinated development of Macau's sports industry and related industries. Statistics show that in the first three quarters of 2023, Macau's gross domestic product increased by 77.7% year-on-year in real terms, and the overall economic output recovered to 77.4% of the same period in 2019. Prices remain basically stable, and employment conditions continue to improve. "The confidence of all sectors of society in the economic development of Macau continues to increase," said the Chief Executive of the Macau Special Administrative Region, He Yicheng. Drawing blueprints for development, He Yicheng has repeatedly emphasized,
Edit：Hu Sen Ming Responsible editor：Li Xi
Source：XinhuaNet
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