Xi Jinping emphasized the need for Macau to diversify its economy away from casinos, urging the city to cultivate new industries and international competitiveness. He noted that the overall situation is stable, but that both domestic and international environments are undergoing profound changes.
Macau operates as a special administrative region, akin to Hong Kong but historically more aligned with Beijing's authority. As it celebrates 25 years post-return, Xi's call reflects broader economic ambitions amid changing global dynamics.
Xi's directive comes amid concerns over Macau's heavy reliance on gambling, with about 80% of government tax revenue linked to the gaming industry. Diversification is seen as essential for sustainable economic growth.
In light of current tensions in the region, including crackdowns on dissent and civil liberties, Xi’s comments about economic diversification can be seen as part of a larger effort to stabilize and reform Macau's economic structure.
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