Home>>Business
Last updated at: (Beijing Time) Thursday, January 09, 2003

Macao's Economic Recovery Accelerated: Official

Macao's economic recovery was expedited in 2002, with the growth rate estimated at above 5 percent, according to Francis Tam Pak Yuen, secretary for economy and finance, here Thursday.


PRINT DISCUSSION CHINESE SEND TO FRIEND


Macao's economic recovery was expedited in 2002, with the growth rate estimated at above 5 percent, according to Francis Tam Pak Yuen, secretary for economy and finance, here Thursday.

This will be a positive increase in the third straight year after Macao returned to the motherland at the end of 1999, the official said at a symposium held by the Macao Chamber of Commerce.

The Special Administrative Region reported economic expansion rates of 4.6 and 2.1 percent in the year 2000 and 2001, respectively.

Macao sticks to free market rules and has exerted great effortsto improve investment environment since the hand-over, he said, adding that a host of large public projects have been kicked off or scheduled and the SAR is entering a period of investment peak.

Tam said liberalization of the gaming industry will inject new vitality into the Macao economy, paired with strengthened economicand trade ties between the SAR and China's inland.

And the official noted that Macao has its own advantages in terms of economic development, such as the "one country, two systems" principle, free port functions and special links with the Portuguese-speaking countries.

The SAR government has set the target of developing Macao into an attractive gaming, tourism, convention and exhibition and trade center with its own characteristics in Asia, he said.


Questions?Comments? Click here
    Advanced








 


China Lodges Formal Representation to Japan About Diaoyu Islands ( 24 Messages)

US-Taiwan Military Cooperation 'will Harm Sino-US Ties' ( 3 Messages)

Can Weapon Inspection Avoid the Outbreak of War? ( 40 Messages)

US Says It Will Talk to DPRK ( 2 Messages)

Premier Zhu Urges Better Foreign Exchange Management ( 13 Messages)



Copyright by People's Daily Online, all rights reserved