Before we came to cover Macao, everyone of us were prepared to endure hardships: Macao is a commercial, trade and tourist city, foodstuffs must be very expensive! After our arrival in Macao, we discovered means of livelihood here are very rich, edible things are not necessarily expensive.

Speaking of material supply in Macao, residents say the merits of Chinese-funded enterprises are indelible. More than 90 percent of perishable farm and sideline products in Macao are purchased and supplied by Chinese-financed enterprises.

Chinese-invested enterprises extensively participate in the business activities of such sectors as trade, industry, finance, insurance, tourism, catering, communications and transportation, construction and real estate, and broadcasting and communication. Initial statistics show that currently there are nearly 200 Chinese-funded enterprises in Macao with the amount of assets exceeding HK$100 billion, representing 50 percent of Macao's total volume of assets. Of which finance accounts for 60 percent, insurance 40 percent, tourism 50 percent, real estate 70 percent and trade 30 percent.

What role will Chinese-financed businesses play in Macao's economic development after the region's return? With this question in mind, these reporters had an interview with Li Shengli, secretary-general of the Macao Chinese Enterprises Association. He said that taking a foothold in and rendering service to Macao, and promoting the region's economic development and social stability have always been the purposes of Chinese-funded enterprises over the past decades. Generally speaking, the business achievements of these enterprises are remarkable and the number of profitable businesses makes up the majority. However, some problems also exist in a small number of enterprises due to poor management, but efforts are being made to solve all these problems. For example, influential enterprises such as Nan Guang, are extricating themselves from predicament through injecting into them funds by share-holders and the reshuffle of leading bodies.

Macao's return means both opportunities and challenges for Chinese-funded enterprises. At present, these enterprises are taking measures, such as making every preparation, changing their concepts, seizing opportunities and reorganizing assets. At the same time, they are taking an active part in Macao's economic restructuring and industrial upgrading and, together with friends in local industrial and commercial circles, promoting Macao's economic prosperity.

Wu Yixin, newly appointed president of the Macao Chinese Enterprises Association, are full of confidence in the development prospect for Chinese-funded enterprises. At the recent conference of leading members of Chinese-funded enterprises in Macao, he indicated Macao's economic structure and its unique historical roots have its superiority in relevance to neighboring countries and regions. With the smooth hand-over of Macao's political power, Macao will have a broader hinterland for development, so both sides can advance hand in hand and shoulder to shoulder. In the past, the Macao Portuguese government lacked a distinct industrial policy, in the future, Macao will have a clearly-set development goal; at the same time, China's projected WTO entry will further boost the updating of Macao's processing industry. We are convinced that with the support of the Central Government and the people of the whole country, under the leadership of the MSAR government headed by Mr. Edmund Ho Hou Wah, and thanks to the efforts of all residents in Macao, the prospects for Chinese-funded enterprises in Macao will become brighter.