Central People’s Government Liaison Office Director Li Gang said in Beijing on Thursday, 5th March, that the gaming industry must not be sacrificed in return for economic diversification.
According to a report on website macaunews.com, Mr Li, who is a local deputy to the National People’s Congress (NPC), made the remark during a group meeting with fellow Macau NPC deputies to discuss Premier Li Keqiang’s work report that was presented at the Great Hall of the People earlier in the day.
Macau has 12 NPC deputies including Secretary for Economy and Finance Lionel Leong Vai Tac.
Li Gang said that the monthly declines in Macau’s gaming revenue since the middle of last year were not a bad thing per se since they were compelling Macau to think about sustainable development and economic diversification.
Li Gang said one should, however, not deny the fact that gaming is Macau’s leading industry and that, consequently, the gaming industry must not be “sacrificed” in return for economic diversification. Therefore, he said, it was necessary to add the word “adequate” to economic diversification.
Mr Li pointed out that the government will conduct a review of the gaming industry from the middle of this year.
Recalling that President Xi Jinping told Chief Executive Fernando Chui Sai On during his inspection tour of Macau in December that gaming shouldn’t be Macau’s sole dominant industry since it would eventually hit a ceiling, Li Gang said that Macau needed to raise its awareness of unforeseen developments and risks.
Li Gang also said that the tightening of visa restrictions and the ongoing anti-graft campaign in the mainland were not necessarily the main reasons for the current drop in gaming revenue. However, he admitted that the central government’s anti-corruption drive did indeed deter some government officials from visiting Macau.
Li Gang said that economic diversification required a big effort from the government since it was “too easy” to earn money from the gaming industry. He also said that the local economy’s diversification would take between 20 and 30 years to complete, adding that the local government should strengthen its efforts to achieve this long-term goal.
During the meeting, Li Gang also pointed out that Premier Li said in his work report that the central government supports the promotion of social harmony in Hong Kong and Macau.
Chui and his predecessor Edmund Ho Hau Wah attended Thursday’s opening session of the annual meeting of the NPC. Ho is now a vice-president of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC).
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