Chinese President Xi Jinping Swears in New Macau Leader
Chinese President Xi Jinping officiated the inauguration of Macau's sixth-term government today, marking a new chapter for the former Portuguese colony. The swearing-in ceremony was held at the Macau East Asian Games Dome, where former top judge Sam Hou Fai assumed the role of the city's Chief Executive, along with ten top officials who pledged to implement significant reforms.
Chinese President Xi Jinping in a public appearance. (Source: Getty Images)
LISTEN TO THIS ARTICLE:The new administration has committed to diversifying Macau's economy and addressing entrenched issues through comprehensive changes. This is in line with the Chinese government's wishes.
Related: Macau's Chief Executive Candidate Vows to Support CasinosDuring his keynote speech at the ceremony, Xi emphasized the importance of Macau embracing reform and innovation to secure its future. He highlighted the need for the city to adapt to global trends and strengthen its role on the international stage.
Xi encouraged Macau to connect more actively with national development strategies, particularly those tied to China's Greater Bay Area, which integrates Macau with neighboring hubs such as Hong Kong and Guangdong province. He underscored the necessity for scientific planning in shaping Macau's development path.
Sam is the first city leader born and raised in mainland China. Under his leadership, the administration aims to steer Macau beyond its traditional reliance on gambling revenues. As part of the city's efforts to diversify its economy, Xi urged Macau to focus on developing non-gaming industries, thereby reducing its dependence on the casino sector, which has historically been the backbone of the local economy. This directive aligns with broader national goals of sustainable and balanced economic growth.
More People News
A Major Transformation
The city's six major casino operators have already committed to supporting this transition. As a condition for the renewal of their gaming licenses last year, these operators pledged to allocate over 90% of their combined $15 billion investments over the next decade to non-gaming ventures. These investments will focus on areas such as conventions, exhibitions, and other diversified enterprises that can contribute to Macau's long-term economic stability and resilience.
Xi's comments also carried broader implications for Hong Kong, signaling a continued emphasis on integrating the region's development within the Greater Bay Area framework. The remarks encouraged Macau to maintain its innovative spirit while strengthening ties with the mainland.
As the world's largest gambling hub, Macau is expected to play a pivotal role in shaping a more diversified and future-ready regional economy. The inauguration of the new government signifies a renewed commitment to addressing local challenges while aligning with national objectives.
Macau has undergone dramatic transformations in recent decades, with its evolution from a small gambling hub to a global tourism and entertainment destination. The new administration under Sam has expressed its determination to build on this progress by implementing policies that foster economic diversification, enhance governance, and address the aspirations of its younger generations.
RELATED TOPICS: People
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Chinese President Xi Jinping Swears in New Macau Leader