By South China Morning Post | Created at 2024-12-20 11:17:47 | Updated at 2024-12-20 17:24:03
6 hours ago
President Xi Jinping has asked Macau to increase collaborations with Portuguese-speaking countries and help the country further open up, prompting calls by a business association for a public body to be set up to provide exporters with insurance protection.
Observers said a stronger push for internationalisation of the renminbi would help the country tap into a vast potential market of 279 million Portuguese speakers worldwide and aid Macau in its push for economic diversification.
In a keynote speech on Friday marking the 25th anniversary of Macau’s return to Chinese administration, Xi highlighted the city’s role as the “only place in the world that uses Chinese and Portuguese as official languages”, serving as an important commercial and trade service platform.
“[Macau] should further open up, strengthen comprehensive collaborations with Portuguese-speaking countries, be actively involved in the construction of the Belt and Road Initiative’s high-quality development and expand the circle of friends internationally,” Xi said.
“[Macau] should serve as an important bridgehead to facilitate the country’s high-level opening up.”
The president called on the city to improve the local business environment, as well as commercial and legal systems, and stimulate the market so it could “attract more international resources”.
