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Chinese Companies Not to Engage in Gaming in Macao
A senior Chinese official stationed in Macao made an emphasis Tuesday, December 12, that Chinese companies are definitely not allowed to touch upon the gaming industry in Macao.
"Chinese companies can do some things to boost Macao's economy, but there are something they must not do," said Wang Qiren, director of the Liaison Office of central people's government in the Macao Special Administrative Region (SAR).
Under the "one country, two systems" principle, the Macao SAR can retain its capitalism and continue to develop the gaming industry, which is strictly prohibited in the inland areas of China, Wang Qiren said.
The Macao Tourism and Amusement Company (STDM) has been running franchise casino business in Macao for decades. Its monopoly contract with the government expires at the end of 2001.
The SAR government has announced that the gaming industry will gradually be opened up to more companies.
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