State leaders urge Macao residents to cherish stability

President Hu Jintao and Premier Wen Jiabao have urged Macao's residents to cherish the society's precious developments and stability, the Chief Executive, Mr Edmund Ho Hau Wah, said in Beijing today. The Chief Executive, who was in Beijing for his annual duty visit, met with the President and the Premier respectively and briefed them on the latest developments in Macao and the initiatives he had outlined in his Policy Address. Meeting the press after these meetings, he disclosed that the state leaders had encouraged Macao's residents to work together for sustainable development and harmony of the society. Moreover, President Hu Jintao and Premier Wen Jiabao reiterated the Central Government's full support to Macao under the principle of 'One Country, Two Systems', said Mr Ho. Speaking on Macao's economy, Mr Ho said he expected the gaming tax this year would amount to about 19 billion patacas, a growth of approximately 20 per cent over the previous year. He said the gaming tax used to make up about 80 per cent of total government revenue, but its share would dip to about 70 per cent this year, showing that the other industries were growing healthily after a series of tax cuts. The gaming sector would continue to act as the mainstay industry of the SAR while the government would spare no efforts in diversifying its industrial portfolio, Mr Ho said. He said he expected retailing, catering, hotel, exhibition and conference industries would continue to grow significantly in the next few years. Regarding government spending in next year, the Chief Executive said the SAR Government would review the social security system and carry out the public housing scheme to satisfy the needs of about 5,000 to 6,000 households. As for the case of Mr Ao Man Long, Mr Ho said that state leaders had urged the SAR Government to learn the experience and lessons from the incident, and continue its efforts in fighting corruption and building a clean team of civil servants, and this was especially important as Macao's economy was growing rapidly.