TaiShang
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This year’s December 20th marks the 15th anniversary of #Macao’s return to #China. During the past 15 years, Macao has achieved enormous economic development and improvement in people’s living standards.
Since returning to China in 1999, the SAR has seen a 16.2% annual growth in GDP, defying the declining trend of world economies since 2008, while its per capita income stands at $87,000, exceeding even that of Switzerland.
Furthermore, Macao's fiscal reserves have surged to 500 billion Macao patacas ($62.6 billion) from 13 billion patacas ($1.6 billion) 15 years ago.
What’s also developing is Macao's welfare system. Since 2008, the government has begun distributing ‘red packets’ to its residents annually, with permanent residents getting 5,000 patacas ($626.3) and temporary ones 3,000 patacas ($375.8).
The red packets are even bigger next year, according to the SAR’s Chief Executive Chui Sai-on, that there would be an excess of 10,000 patacas ($1252.6) for each.
Chui said that this rapid development is attributed to China’s unique policy of “One Country, Two Systems”, as well as the “high degree of autonomy” that Beijing has granted Macao.
He also said that Macao should consider its cooperation with the Chinese mainland as an opportunity to promote greater economic development, as he emphasized the significance of “one country”:
“Macao cannot separate itself from the motherland, as the country provides a strong backing for us. We hope that people from all walks of life can work together to sustain the growth and share its benefits.”
The 15th anniversary will begin next Friday, when Chinese president#XiJinping will visit Macao. He will be there on the 19th and 20th to attend an inauguration ceremony for the SAR’s fourth-term government and celebration events.
It's just been announced that Chinese President Xi Jinping will attend a gathering in the Macao Special Administrative Region on Friday, to mark the 15th anniversary of the region's return to China.
On Saturday, Xi will attend an inauguration ceremony for the SAR's fourth-term government.
The Chinese government resumed sovereignty over Macao on December the 20th, 1999.
Source: CCTV
Since returning to China in 1999, the SAR has seen a 16.2% annual growth in GDP, defying the declining trend of world economies since 2008, while its per capita income stands at $87,000, exceeding even that of Switzerland.
Furthermore, Macao's fiscal reserves have surged to 500 billion Macao patacas ($62.6 billion) from 13 billion patacas ($1.6 billion) 15 years ago.
What’s also developing is Macao's welfare system. Since 2008, the government has begun distributing ‘red packets’ to its residents annually, with permanent residents getting 5,000 patacas ($626.3) and temporary ones 3,000 patacas ($375.8).
The red packets are even bigger next year, according to the SAR’s Chief Executive Chui Sai-on, that there would be an excess of 10,000 patacas ($1252.6) for each.
Chui said that this rapid development is attributed to China’s unique policy of “One Country, Two Systems”, as well as the “high degree of autonomy” that Beijing has granted Macao.
He also said that Macao should consider its cooperation with the Chinese mainland as an opportunity to promote greater economic development, as he emphasized the significance of “one country”:
“Macao cannot separate itself from the motherland, as the country provides a strong backing for us. We hope that people from all walks of life can work together to sustain the growth and share its benefits.”
The 15th anniversary will begin next Friday, when Chinese president#XiJinping will visit Macao. He will be there on the 19th and 20th to attend an inauguration ceremony for the SAR’s fourth-term government and celebration events.
It's just been announced that Chinese President Xi Jinping will attend a gathering in the Macao Special Administrative Region on Friday, to mark the 15th anniversary of the region's return to China.
On Saturday, Xi will attend an inauguration ceremony for the SAR's fourth-term government.
The Chinese government resumed sovereignty over Macao on December the 20th, 1999.
Source: CCTV
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