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On July 1, Hong Kong celebrated the 27th anniversary of its return to the motherland, and the Hang Seng Index continued to hover between 17,000 and 18,000 points. Hong Kong Chief Executive John Lee made it clear in response to reporters’ questions that there would be no constitutional consultation on dual universal suffrage (electing the Chief Executive of the Hong Kong Special Administrative Region) during his remaining term. According to the provisions of the Hong Kong Basic Law, the elections of the Chief Executive and the Legislative Council will only focus on revitalizing Hong Kong’s economy.
Hong Kong’s economy must recover to avoid becoming “Asian’s financial ruin.” So what about Macau’s financial situation?
After Macau returned to China, Yat Yuen Racecourse was closed and the Jockey Club became history. The fully diversified development of the “1+4” industry has not yet been implemented, and shops in various places are constantly being sold or rented out. Even if casinos do not provide snacks, it cannot alleviate the impact of “Guangdong-Macau car circulation” and the sale of cheap products from the mainland on small and medium-sized enterprises. Guangdong-Hong Kong-Macao Greater Bay Area.
Macau’s total gaming revenue in June was 17.7 billion patacas, the lowest figure so far this year. With the opening of the Shenzhen-Zhongshan Bridge, the one-hour circulation project in the Guangdong-Hong Kong-Macao Greater Bay Area has been basically realized. Under the national integrated development framework, does Macau have its own advantages to attract investment and bring new growth opportunities? After the “Macao Trade and Investment Promotion Bureau” was renamed to a Chinese name, what investment promotion plans and strategies does the SAR government have?
The nomination activity for the Chief Executive Election Committee ended on the 2nd, and the countdown to the 6th Chief Executive Election officially began. As the CECE committee election this year was postponed for two months, the Chief Executive election is scheduled to be held in October next year. In other words, after the Chief Executive’s sixth term takes effect, there are only two months left for the new government team to properly prepare for future tasks. If the current Chief Executive Ho Iat Seng is re-elected, it is expected that there will be no major problems in Macau. According to experience, unless there are unexpected changes, the practice of re-electing the current Chief Executive will remain unchanged.
When Ho Iat Seng took office as the Chief Executive of Macao, he had faced a three-year epidemic. His strategy for dealing with this situation was consistent with that of the central government, and its good results were recognized. But as Ho Iat Seng pointed out when he was elected Chief Executive of Macao, the ability of his administrative team is of greatest concern. The General Office of the Central Committee of the Communist Party of China recently issued the “Outline of the National Party and Government Leadership Team Building Plan (2024-2028)”, which calls for the selection of suitable people, optimizing the age structure of the team, improving the professional composition of members, and taking into account their experience and resumes. ” These points are also worthy of reference for the sixth Chief Executive
In recent years, creating narratives that are favorable to Macau has become a habit. Some popular guests on TDM call-in shows with unique views have disappeared without a trace, some weekly magazines have ceased publication, and some columnists have stopped writing. Macau society may seem prosperous at first glance, but in fact it has many problems. Therefore, what Macau must strive for is of course to find leaders who can lead citizens on the right path.
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