Published: 14:42, December 22, 2024
Diversifying economy key to Macao’s next chapter
By Dominic Lee

This year marks the 25th anniversary of Macao’s return to the motherland -- a historic moment. It’s a milestone that not only celebrates the city’s achievements in the past quarter of a century, but also points to the opportunities and challenges of the future.

The presence of President Xi Jinping at the anniversary commemorations underscores the profound political significance of this occasion, as well as its broader social impact. His speeches highlighted the Macao Special Administrative Region’s accomplishments since reunification, reinforced public confidence in its future, and outlined a clear path forward for the city’s development. Along with his wife, Xi’s extended stay in Macao, which included visits to key landmarks across the peninsula, has left an indelible impression on the people of Macao, inspiring a renewed sense of unity and national pride.

The president’s inspection tour offered a powerful endorsement of “one country, two systems” -- a cornerstone of the nation’s governance model for the Macao and Hong Kong SARs since Hong Kong’s return in 1997. Over the years, Macao has demonstrated the policy’s practicality and effectiveness, maintaining social stability, achieving sustained economic growth, and fostering cultural prosperity. The region’s success stands as a vivid illustration of how this unique framework can balance regional autonomy and national unity, a critical element in China’s broader vision of socialism with Chinese characteristics.

At a time when global geopolitics remains fraught with tension and conflict, Macao’s experience serves as a valuable case study. It demonstrates how complex historical issues can be resolved with patience, wisdom and innovation -- a message that resonates far beyond Macao’s borders. As Xi noted in his speech, the “positive energy of unity and harmony” seen in Macao is a testament to the success of the “one country, two systems” model.

Xi’s remarks didn’t just look back -- they also pointed to the way ahead, offering Macao a roadmap for the future. He emphasized the importance of deepening economic diversification, aligning Macao’s development with broader national strategies, and seizing opportunities in the face of global economic shifts. His call for action isn’t directed at Macao alone, but extends to regions across China, encouraging all to embrace innovation and vigorously pursue growth.

A key element of this vision is the role of education and research. During his visit, Xi toured educational and research institutions, including the Macau University of Science and Technology, which have emerged as dynamic players in fields like technology and innovation. These institutions are not only nurturing local talent, but are also positioning Macao as a hub for academic excellence, paving the way for long-term economic and professional development.

Xi also spoke of providing “reliable guarantees” to ensure Macao’s steady progress. With the continued implementation of national policies, Macao is poised to play a more significant role in initiatives like the Belt and Road Initiative and other major projects. Such participation will not only elevate Macao’s standing on the global stage, but also accelerate its efforts to diversify its economy, reducing dependence on gaming and tourism.

The past 25 years have shown how Macao can thrive under the “one country, two systems” framework, and the next phase promises even greater opportunities. As Macao integrates further into the country’s broader economic and strategic plans, its potential to contribute to national development and strengthen its own resilience will only grow.

Macao’s return to China -- and the success of its governance since – offers lessons extending far beyond its borders. In a world grappling with political, economic and social challenges, the “one country, two systems” model offers a fresh approach to resolving disputes and achieving coexistence. Macao’s story is a reminder that peaceful reunification and sustained development are possible when guided by thoughtful policy, mutual respect and a commitment to shared goals.

In an era of increasing globalization, countries and regions must work together to address common challenges. Xi’s vision of “peaceful development” provides a constructive framework for international cooperation, offering hope in a time of uncertainty. As China continues to rise on the global stage, it has the potential to contribute not just to its own progress, but also to the broader pursuit of peace and prosperity worldwide.

As Macao SAR marks its silver jubilee, it stands as a symbol of what can be achieved through collaboration, vision and a commitment to shared values. The president’s visit and his message of unity, confidence and progress have reaffirmed Macao’s place within the larger national framework while showcasing its unique contributions to both the country and the world.

Looking ahead, Macao’s journey will continue to inspire, not only as a testament to the success of “one country, two systems”, but also as a model for addressing the complex challenges of our interconnected world. The next 25 years hold immense promise, and the Macao SAR is poised to play an even greater role in shaping China’s future and contributing to global progress.

It’s a story of resilience, innovation and vision -- one that reminds us all of the power of unity amid changes. And, as Macao steps confidently into its next chapter, its success will remain a testament to the enduring strength of its people and the possibilities that arise when history and future converge.

 

The author is the convener at China Retold, a member of the Legislative Council, and a member of the Central Committee of the New People’s Party.

 

The views do not necessarily reflect those of China Daily.