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Macao's 15 years of examplary progress

By Wang Lei ( China Daily ) Updated: 2014-12-19 07:48:43

Dec 20, 2014 marks the 15th anniversary of the Macao Special Administrative Region's return to the motherland. In the past 15 years, Macao has achieved great success in the political, economic, social and cultural fields. One of the main reasons Macao could achieve these is that it adheres to the "One Country, Two Systems" policy and acts in accordance with the Basic Law, which guarantees the SAR's prosperity and stability.

From 2000 to 2013, Macao's average economic growth in real terms was 13 percent. In 2013, Macao's GDP was 413.47 billion Macao patacas ($51.76 billion), and the average monthly salary, 12,000 patacas. Over the past decade and half, Macao has explored a development path in line with its actual condition, which is marked by several development characteristics.

First, Macao's development path has a clear goal. In 2001, Macao advanced its development direction, that its development will be led by the tourism and lottery industries, based on the service industry, and coordinated development of other industries will be promoted. China's 11th Five-Year Plan (2006-10) and 12th Five-Year Plan (2011-15) also promoted moderate and multiple development of Macao's economy.

Macao's 15 years of examplary progress

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