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Liaison chief warns ‘dominance of one industry can destroy city’

Li Gang, director of the Liaison Office of the Central People’s Government in Macau, said Sunday that since the gaming industry is the main pillar of the city’s gross domestic product (GDP), he urged local society to diversify the economy. He warned that “the dominance of one industry can lead the city to prosperity but […]

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UPDATED: 22 Dec 2023, 5:52 am

Li Gang, director of the Liaison Office of the Central People’s Government in Macau, said Sunday that since the gaming industry is the main pillar of the city’s gross domestic product (GDP), he urged local society to diversify the economy.

He warned that “the dominance of one industry can lead the city to prosperity but it also can lead to its demise”.

Li made the remarks to reporters in Barra after completing the “Walk for a Million” charity event.

Asked by reporters about his recent remarks in an interview with the mainland media that Macau should create another Macau in the mainland, Li said that in order to play safe Macau should diversify its economy.

“The gaming industry is the city’s main pillar of GDP … if there are adverse incidents [in future] such as SARS [again] the economy will produce negative growth so that society and people’s livelihoods will be affected,” Li said, adding that the gaming industry must develop healthily and orderly but local society must meanwhile diversify the economy to play safe.

“When the city’s finance sector, construction industry …Traditional Chinese Medicine industry and cultural industry are also developed…then Macau’s long-term propensity and stability will be secured,” he said, adding that regional co-operation with the mainland will also secure local society’s prosperity and stability.

“This is why I say that if another Macau can be created in the mainland Macau will become stronger,” Li said, adding that the local government should co-operate further with the mainland.(macaunews/macaupost)

UPDATED: 22 Dec 2023, 5:52 am

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