Chinese Vice President Xi Jinping Saturday said that Macao Special Administrative Region (SAR) should promote its long-term economic diversification.
Xi, who paid the first official visit to Macao since assuming the office of Chinese Vice President in March 2008, made the remark when meeting with the SAR's Chief Executive Ho Hau Wah and 113 representatives from all walks of the local society in the Macao East Asian Games Dome.
Like the Chinese mainland and other places, Macao was hit by the impact of the global financial crisis recently and encountered some difficulties, Xi said, adding that despite this, "we should be confident as there are also opportunities and conditions for development."
Xi also said that the central government has launched a series of policies and measures to expand domestic demand and boost economic development.
"We are still confident that we can curb the further spread and impact of the global financial crisis and contain its damage, so as to achieve a new period of stable and rapid economic development," he said.
To ensure Macao's stable development in the face of global financial crisis, China's central government announced nine measures aimed to support Macao in six areas on Dec. 19, 2008.
These measures mainly concerned promoting the financial and infrastructure cooperation between the mainland and Macao, the overall opening-up of the mainland's service sector to Macao, and helping Macao's small-and-medium sized enterprises.
He also pointed out that Macao's capacity in various fields has been greatly strengthened since its return to the motherland nine years ago, and the SAR government has relatively sufficient financial supply and abundant knowledge and experience of how to tackle the crisis.
As for the development of Hengqin Island, a part of neighboring mainland city Zhuhai, Xi said the central government has decided to develop the island, but the development will be launched only when preparatory works were fully completed.
The development of Hengqin Island will provide new spaces for the diversification of Macao's economy, he said, adding that the central government will take Macao's needs into full consideration.
Located close to Macao, Hengqin Island is about three times the size of Macao. The land-strapped SAR has long been requesting a part in its development.
Xi arrived in Macao earlier this morning, starting his two-day visit to the island city. Xi paid two visits to the SAR in 2001 and 2005 respectively before assuming the Chinese vice-presidency.
Source: Xinhua
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