Chinese President Xi Jinping’s visit to Macau next week will, according to a Reuters report, include a call for the territory to diversify away from the gaming industry and become a new financial hub, including the creation of a yuan-denominated stock exchange.
“Xi Jinping has made very clear that he wants a diversified Macau economy,” a Chinese official told Reuters. “The future focus will be on tourism and finance, to make it a center to host international meetings like Singapore.”
In part, this is intended to be a political reward to Macau for not taking the path of dissent which has blossomed in neighboring Hong Kong.
An announcement that Macau will join the Beijing-backed Asian Infrastructure Investment Bank is also expected during Xi’s visit.
Furthermore, Macau is to be allocated more land for development on the mainland island of Hengqin.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264