Macau Chief Executive Shum Ho-fai released his first Policy Address during his tenure: showing greater achievements in moderately diversified economic development

The Zhitong Finance App learned that on April 14, the Chief Executive of the Macao Special Administrative Region, Shum Ho-fai, issued the “2025 Fiscal Year Policy Report” entitled “Innovate for Development and Forge a New Era” in the Legislative Council of the Special Administrative Region. Among them, it was mentioned that the new government will be guided by “four efforts”, closely revolve around the positioning of “one center, one platform, and one base” and the development direction of “1+4" diversified industries, and show greater achievements in terms of moderate diversification of the economy. Integrate and serve the overall development of the country with a more proactive attitude, focus on building a higher level of openness to the outside world, and show greater achievements on the international stage. With the goal of integrating Australia and piano, we will step up efforts to accelerate the construction of the Hengqin Guangdong-Macao Deep Cooperation Zone.

The report suggests the general direction of the SAR government's administration this year: strengthening diversity, improving people's livelihood, improving governance, and integrating into the country. This is the first Policy Address issued by Shum Ho-fai after taking office as Chief Executive.

Shum Ho-hui mentioned that in 2025, the administrative priorities of the SAR government include the following five aspects: fighting for the economy, seeking development, and building; striving to promote moderate diversification of the economy; daring to take responsibility, work hard, and act well to improve the effectiveness of the SAR's governance; relieve people's worries, relieve people, benefit people's livelihood, and make every effort to create a better life for the people; promote exchanges, expand openness and common prosperity, and better integrate into the overall national development agenda; promote advantages, increase momentum, and seek the long term to carry out major engineering projects.

The original text is as follows:

Innovate for development and forge ahead with the Chief Executive of the New Bureau issued the “Policy Address for the Fiscal Year 2025”

The Chief Executive, Shum Ho-fai, delivered the “2025 Fiscal Year Policy Report” entitled “Innovate for Development and Forge a New Era” in the Legislative Council at 3 p.m. today (14), proposing the general direction of the HKSAR Government's administration this year: strengthening diversity, improving people's livelihood, improving governance, and integrating into the country.

This is the first Policy Address issued by Shum Ho-fai after taking office as Chief Executive. He said that the current administration will always uphold the spirit of reform and innovation, practical responsibility, and forge ahead, and work with all sectors of society and the general public to innovate and seek development and forge ahead in a new situation, promote the high-quality development of various undertakings in the Special Administrative Region, and achieve the beautiful vision of Macao governed by the rule of law, a vibrant Macau, a cultural Macau, and a happy Macau. At the beginning of the new administration, it led all sectors of society to thoroughly study and implement the spirit of President Xi Jinping's important speech during his visit to Macau, further strengthening the confidence and determination of all over Australia to take on a new mission and write a new chapter. Since the next administration of the year is relatively short, next year's Policy Address will be released in November. This Policy Address is both based on the present and focuses on the future. It is not limited to the work to be carried out this year, but also includes some medium- to long-term policies and initiatives planned and launched from a long-term perspective.

The “2025 Fiscal Year Policy Address” suggests that the main goals expected for the development of the Special Administrative Region this year are: consolidating economic recovery, promoting moderate and diversified economic development, and maintaining positive growth in the gross domestic product; continuously improving residents' employment conditions, maintaining a low level of unemployment, stabilizing prices and people's supplies, and continuously optimizing people's livelihood; continuously deepening public administration reforms, strengthening coordination mechanisms, and improving governance effectiveness; and better integrating into the overall development of the country to build a platform for opening up to the outside world to safeguard national security and social stability. In 2025, the administrative priorities of the SAR government include the following five aspects:

1. Struggle for the economy, seek development, and engage in construction, and strive to promote moderate economic diversification. Accelerate research and establishment of government industry funds and scientific and technological achievement transformation guidance funds; set up working groups to review business regulations to improve the efficiency and level of administrative services; focus on attracting investment in key industries; establish additional economic, trade, tourism and cultural offices of the Macao Special Administrative Region to link Lucky Gaming companies to strengthen international market promotion; help traditional Chinese medicine products use Portuguese-speaking countries as entry points to gradually develop regional markets in Africa, Europe, Southeast Asia, etc.; develop medical tourism; expand the bond market; strengthen the cultivation and introduction of financial talents; promote the “digital Macau dollar” Research and development work; take more measures to promote the integrated development of industry, education and research; host international cultural and artistic events, large-scale festival brand events; promote the development of the digital economy; cultivate and develop new quality productivity in Macau with the support of integrated development of education, technology and talents; revitalize the community economy; launch the “SME Bank Loan Interest Subsidy Program”.

2. Dare to take responsibility, work hard, and act well, and focus on improving the effectiveness of the administration of the Special Administrative Region. Give full play to the role of public administration reform leadership and coordination mechanisms, and first implement the restructuring of the Administration and Civil Service Bureau and the Municipal Affairs Department; improve the post management system and implement the accountability system for leaders and supervisors; promote “deregulation” reform to raise the level of convenience and convenience; reform public opinion handling mechanisms and improve consulting organizations; strengthen coordination of legal work and promote legislation in key areas; firmly maintain national security and the stability of Macao; promote strong science and technology; support the development and growth of patriotic associations; implement the principle of “patriots governing Macao” and ensure the 8th Legislative Council; implement the “Patriots rule Macao” principle and carry out the oath of the Legislative Council in accordance with the law; Elections are running smoothly; integrity audits and supervision of public capital enterprises are strengthened.

3. Solve people's worries, relieve people's poverty, benefit people's livelihood, and make every effort to create a better life for the people. Prioritize employment protection for local residents; accurately support vulnerable groups, actively care for the elderly; improve maternity support policies; improve rehabilitation services; effectively play the role of Peking Union Medical Center and optimize the medical service system; improve specialist medical care capabilities and improve community medical services; promote social housing construction, rationally arrange housing supply, study the viability of the housing replacement system, and optimize government apartment services for the elderly; make every effort to organize the 15th National Games and the Paralympic Games; promote urban renewal; make rational use of land; optimize the transportation system; strengthen environmental protection; build a beautiful Macau; Optimize youth policies and launch programs to support youth employment in the Greater Bay Area.

4. Promote exchanges, expand openness and common prosperity, and better integrate into the overall national development agenda. Strengthen internal and external communication with the strategy of “going north, south, going west, and expanding east”; coordinate and promote the construction of “the Mainland, Hong Kong and Macau to jointly build a single free trade zone”; seek national support to build a “national university regional technology transfer and transformation center” in Macau; strengthen infrastructure connectivity in the Greater Bay Area and optimize “Macau cars going north”; act as a “precise contact” to continuously enrich and enhance the content of the Sino-Portuguese platform; give full play to the role of Macao as a platform; promote international exchanges with Europe, Portuguese and Spanish speaking countries, etc.; strengthen international exchanges and cooperation between the mainland and the mainland; strengthen international exchanges and cooperation with the mainland; strengthen international exchanges and cooperation between mainland China and Spanish speaking countries; strengthen international exchanges and cooperation between the mainland and the mainland Cooperation; strengthen the construction of “one base” and build An important window for cultural exchanges and mutual appreciation between China and the West.

5. Promote advantages, increase momentum, seek the long term, and carry out construction of major engineering projects. Build the Aoqin International Education (University) City, the Macau International Comprehensive Tourism and Cultural Zone, the Macau Pearl River West Bank International Air Transport Hub (Hong Kong), and the Macau Science and Technology Research and Development Industrial Park.

Shen Haohui said that the new administration will be guided by the “four efforts” proposed by President Xi Jinping, closely revolve around the positioning of “one center, one platform, one base” and the development direction of “1+4" diversified industries, and show greater achievements in terms of moderate diversification of the economy. Integrate and serve the overall development of the country with a more proactive attitude, focus on building a higher level of openness to the outside world, and show greater achievements on the international stage. With the goal of integrating Australia and piano, we will step up efforts to accelerate the construction of the Hengqin Guangdong-Macao Deep Cooperation Zone. To vigorously promote innovation in the legal system, the government will give full play to the coordinating role of the leading group to promote the construction of the Hengqin Guangdong-Macao Deep Cooperation Zone, study and formulate important policies and laws and regulations to support the construction of the cooperative zone, and promote the integration of the civil and commercial laws and regulations of the cooperative zone with Macao and the international community. Give full play to the leading role of Macao, adjust and optimize the functions and division of labor of the executive committee, appoint more outstanding Macao civil servants to work in the cooperative zone executive committee and various working bodies, and actively promote the pilot work of the Hengqin Court to hire Macao judges as non-permanent judges. Strengthen investment promotion efforts, deepen connectivity between Australia and Qin, promote Hengqin's “single-license vehicles” to travel north through Hengqin, expand government and people's livelihood service guarantees, and create an environment of convergence with Macau.

Shum Ho-fai pointed out that strengthening coordination mechanisms is an important step for the new government to deepen administrative reforms and enhance governance capabilities. The new administration has set up six leading groups and working groups. In the future, it will set up more cross-category and cross-departmental coordination mechanisms in response to the promotion and development needs of governance work, break down departmental barriers, promote efficient collaboration, overall linkage, and improve efficiency across departments to ensure the smooth progress of various reform initiatives and governance work. Combining the rule of law with responsibility to effectively enhance public governance capacity and governance effectiveness. Promote the resolution of deep-seated contradictions and problems in economic and social development, effectively maintain social peace and stability, continuously enhance citizens' sense of participation, attainment and happiness, and strive to realize the general public's yearning for a better life.

This article was compiled from the Macau Special Administrative Region Government portal. Zhitong Finance Editor: Chen Wenfang.