Chief Executive, Mr Chui Sai On, speaks to reporters.
The Chief Executive, Mr Chui Sai On, sees economic prospects next year as remaining positive and steady. He added the Government would definitely continue using long-term mechanisms that have helped enhance the livelihoods of the people. Mr Chui made his remarks to reporters today prior to the National Day reception celebrating the 66th anniversary of the founding of the People’s Republic of China. He stressed the Government was financially stable, and its financial management efforts had ensured a modest public surplus would be recorded this year. Gaming revenue contributed a significant portion of the Government’s income, and gaming revenue amounted to at least 20 billion patacas per month in the first half of 2015, said Mr Chui. The Government would pay close attention to the gaming revenues in September and for the fourth quarter, tailoring accordingly its budget proposal for the coming fiscal year, he added. Mr Chui reiterated the Government would strictly abide by the Basic Law in keeping its expenditure within its revenues; reconsider any non-essential spending during what is a time of gaming industry consolidation; and at the same time ensure spending on social welfare would not be affected. With the full support of the Central Government, the Macao Government will actively participate in the “Silk Road Economic Belt” and the “21st Century Maritime Silk Road” initiative, (also known as “Belt and Road”), and engage in projects of regional cooperation. The work of clarifying Macao’s administrative and jurisdictional role in relation to its customary waters would also strengthen Macao’s efforts in achieving adequate economic diversification and the expansion in Macao of more non-gaming tourism features, added the Chief Executive. Mr Chui said the Government’s work in boosting non-gaming elements in the tourism sector had made a positive impact during the past two years, as shown by the increasing importance of these features within the sector. Mr Chui said the Government had not yet started using its fiscal reserve to invest in infrastructure projects in the mainland. If any such projects were initiated, the Government would act in line with the law and submit proposals to the Legislative Assembly. The main conditions for the Government to invest in the mainland were that the principal capital be guaranteed, that the project should achieve returns within certain measured boundaries, and that there was a mechanism enabling withdrawal from the investment if the Government wished to do so. Asked by reporters about a new measure imposing a new annual cash withdrawal limit on China UnionPay Ltd cards used outside the mainland, the Chief Executive said the Government would collaborate on the new guidelines. The Government would also closely observe any changes in tourists’ consumption behaviour in Macao.