The central government is planning to unveil more stimulus measures targeting Macao and Hong Kong’s economies, according to a commentary published Sunday by the Hong Kong and Macao Affairs Office that was cited by the Hong Kong media.
“More policies and measures benefiting Hong Kong and Macao will continue to be introduced,” the office said.
The statement came ahead of a briefing by the National Development and Reform Commission, scheduled for today. The commission is expected to outline how it will implement further policies to promote China’s economic growth, in the wake of several major stimulus announcements issued by authorities over the past few weeks, Nikkei Asia reported.
[See more: Beijing announces new stimulus measures to boost the economy]
Sunday’s missive also referred to SAR-specific measures that had been rolled out recently, including the introduction of five-year mainland travel permits for foreign Macao and Hong Kong residents and the increase in duty-free shopping allowances for mainland tourists.
The Hong Kong and Macao Affairs Office’s commentary stated that the central government “has been providing the two cities with precious opportunities, continuous momentum, and huge space for development.”
The commentary comes in the wake of remarks on the state of the local economy by presumptive Chief Executive Sam Hou Fai. Speaking at a town hall meeting over the weekend, he urged Macao to improve its overall development strategy. “In the past five years since the Greater Bay Area [was launched], we have not felt our advantages,” he said. “Our competitiveness needs to be improved.”
