Macau’s chief executive met with Chinese companies and asked for support to help GDP recover following the pandemic.<\/p>\n\n\n\n\n\n\n\n
Macau.- The SAR’s chief executive Ho Iat Seng has met the Chinese Companies Association to ask for cooperation amid the pandemic crisis.<\/p>\n\n\n\n
According to the local news outlet Macau Business News<\/em><\/strong>, the leader asked Chinese companies in Macau to support development in a bid to increase the size of the financial sector’s contribution to Gross Domestic Product (GDP).<\/p>\n\n\n\n Ho said the SAR intended to diversify its economy in the coming years, after the pandemic severely impacted on the gaming business, its main industry.<\/p>\n\n\n\n He said he hoped the launch of several public infrastructure projects would boost the economy amid a difficult scenario that saw GDP drop by 58.2 per cent in the first half of the year.<\/p>\n\n\n\n This week a public consultation began on the long-awaited new urban masterplan for the city, which will involve large-scale infrastructure developments.<\/p>\n\n\n\n Ho said that, according to President Xi Jinping\u2019s instructions, the development of the deep cooperation zone between Guangdong and Macao in Hengqin is one important path for local economic diversification.<\/p>\n\n\n\n He emphasised that local authorities expect all Chinese companies in Macau to strengthen their support for the development of the special trade area.<\/p>\n","protected":false},"excerpt":{"rendered":" Macau’s chief executive met with Chinese companies and asked for support to help GDP recover following the pandemic.<\/p>\n","protected":false},"author":2,"featured_media":9908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Chief Executive Ho Iat Seng has urged Chinese companies to support economic diversification and boost the financial sector's GDP contribution, following a significant pandemic-induced decline in the gaming industry. The SAR plans major public infrastructure projects and leverages the Guangdong-Macao deep cooperation zone in Hengqin to reduce its reliance on gaming.","focusai_entities":"Ho Iat Seng, Chinese Companies Association, President Xi Jinping","focusai_location":"Macau, China, Guangdong, Hengqin","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Diversification Incentives?","query":"What specific policy incentives are being considered to attract non-gaming investment into Macau's financial sector, and how might these impact capital flows?"},{"label":"Infrastructure Impact on Resorts?","query":"How will the new urban masterplan and large-scale public infrastructure projects specifically integrate with or impact the existing integrated resort properties and their non-gaming amenities?"}],"footnotes":""},"categories":[160,161,16338,163,158],"tags":[257],"class_list":["post-9902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-east-asia-news","category-finance-news","category-slider-home","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9902"}],"version-history":[{"count":7,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9902\/revisions"}],"predecessor-version":[{"id":777018054,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9902\/revisions\/777018054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9908"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}