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25 years on, Macao prospers amid deeper integration into national development

2024-12-16 18:29   Xinhua

  In 2023, cultural and artistic events attracted nearly 20 million participants, with large-scale concerts drawing around 1 million attendees and generating approximately MOP 1.1 billion in box office sales. Non-gaming sectors now contribute to more than 60 percent of Macao's GDP, a steady increase from previous years.

  “Macao's efforts to accelerate the diversification of its economy not only strengthen its economic power and competitiveness but also enable it to play a more significant role in supporting the national strategy and the country's high-level opening up to the outside world,“ said Ip Kuai Peng, vice rector of City University of Macao.

  Macao's participation in Greater Bay Area development and its active contribution to the Belt and Road Initiative have provided new opportunities for the city's growth. To further integrate into national development, Macao has established a Working Committee for Integrating into National Development, which promotes deeper economic, cultural and social cooperation with the mainland.

  Macao is also collaborating with Hong Kong and the mainland to develop “one trip, multiple destinations“ premium tourism routes, promoting business cooperation with Portuguese-speaking countries, and fostering cultural exchanges with nations around the world.

  For many Macao residents, integrating their personal development with national growth has become a common goal. Huang Yin, founder of Macao-based Trendyi Health Technology, recalled how aligning her business objectives with China's national development plan had prompted her to expand the business to Hengqin.

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