International edition
September 16, 2021

Xi offers 'gentle' reminder to both HK & Macau

Macau economy needs diversification to stop slide

Macau economy needs diversification to stop slide
(Macau).- President Xi Jinping on Saturday urged Macau and Hong Kong to respect their sovereign unity with China, following testy pro-democracy campaigns in both regions earlier this year. "We must all adhere to the 'One China' principle and respect the d
Macau | 12/29/2014

(Macau).- President Xi Jinping on Saturday urged Macau and Hong Kong to respect their sovereign unity with China, following testy pro-democracy campaigns in both regions earlier this year. "We must all adhere to the 'One China' principle and respect the difference of the two systems. This is the only way leading to sound and steady progress," Xi said at the inauguration of Macau's Chief Executive Fernando Chui Sai as quoted by the BBC.

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hina's President Xi Jinping wants Macau and Hong Kong to adhere to the "One China" principle; he believes only the unity with the mainland China will lead to progress in both Macau and Hong Kong. Earlier this year the people of Macau protested Chui’s uncontested re-election without popular vote in a process controlled by Beijing. While in Hong Kong, recently-ended protests that began in September also called for full suffrage.

The protests were triggered by China’s announcement that only candidates vetted by a standing committee could run for the region’s 2017 chief executive elections. 

Meanwhile, Xi also spoke about Macau’s deteriorating economy which mainly relied on the gambling industry. Following Xi’s anti-corruption campaign launched when he came into power in 2012, steps were taken to stop Macau from being used for money laundering and capital flight. This caused a sharp drop in gambling revenues. 

"Focus on building a global tourism and leisure center will promote Macau's economy's appropriate diversification and sustainable development,” Xi was quoted as saying by the news outlet.The “one Country, Two Systems” principle allows for a certain degree of autonomy in the administrative regions as relates to retaining their own economies and political systems while China exercises sovereignty over the regions.

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