STORY: 25 years on: Macao's success story
SHOOTING TIME: Dec. 18, 2024 & Earlier footage
DATELINE: Dec. 19, 2024
LENGTH: 00:04:45
LOCATION: MACAO, China
CATEGORY: POLITICS

SHOTLIST:
1. various of Macao
2. STANDUP 1 (English): HONG LIANG, Xinhua correspondent
3. various of Macao
4. STANDUP 2 (English): HONG LIANG, Xinhua correspondent
5. various of Macao
6. SOUNDBITE 1 (Chinese): CHEONG WENG CHON, Secretary for Administration and Justice of Macao SAR government
7. STANDUP 3 (English): HONG LIANG, Xinhua correspondent
8. SOUNDBITE 2 (Chinese): LEI WAI NONG, Secretary for Economy and Finance of Macao SAR government
9. SOUNDBITE 3 (Chinese): SAM HOU FAI, Macao's incoming chief executive

STORYLINE:

STANDUP 1 (English): HONG LIANG, Xinhua correspondent
"This golden lotus sculpture has been a landmark in Macao for 25 years.
It was a gift from Beijing to mark the city's return to its motherland in 1999.
Over the past 25 years, what achievements has Macao made? What lies at the heart of its success?"

Macao has experienced remarkable transformation over the past 25 years under the "one country, two systems" policy.

It is one of the richest and safest places in the world, with its social welfare level constantly increasing.

From 1999 to 2023, Macao's per capita GDP more than quadrupled to nearly 70,000 USD. The unemployment rate dropped from 6.3% to 2.7%. Children in Macao have been able to enjoy 15 years of free education from kindergarten to high school since 2007. The median monthly salary of local workers increased from about 624 USD to 2,500 USD. The average life expectancy of Macao residents reached 83.1 years.

Under the "one country, two systems" framework, Macao enjoys distinct advantages. It is a free trade port and a separate customs territory. It has a simple and low-tax environment, extensive global connections, and a rich blend of Chinese and Western cultures.

In recent years, the city has actively participated in the development of the Guangdong-Hong Kong-Macao Greater Bay Area. During the process, new opportunities, space, and momentum for Macao's growth have emerged.

Under the "one country, two systems" framework, Macao enjoys distinct advantages, including its status as a free trade port, a separate customs territory, a simple and low-tax environment, extensive global connections, and a rich blend of Chinese and Western cultures.

STANDUP 2 (English): HONG LIANG, Xinhua correspondent
"In September 2021, the Guangdong-Macao in-depth cooperation zone was established, symbolizing a new model of joint development and management under 'one country, two systems.'"

The in-depth cooperation zone in Hengqin of Guangdong Province has become a hub that expands the living and work space of Macao residents.

It is also positioned as a catalyst for the city's diversified economic growth.

SOUNDBITE 1 (Chinese): CHEONG WENG CHON, Secretary for Administration and Justice of Macao SAR government
"The Macao SAR government attaches great importance to participating in the development of the Greater Bay Area and the Guangdong-Macao in-depth cooperation zone in Hengqin (in Zhuhai, Guangdong). We are committed to supporting and facilitating Macao residents to find jobs, start businesses, and pursue education within the zone."

STANDUP 3 (English): HONG LIANG, Xinhua correspondent 
"To diversify the economy, the Macao SAR government has put forward the strategy to build Macao into a world tourism and leisure center and develop its priority industries of big health, modern finance, high technology, exhibition and convention, as well as culture and sports."

Last year, the combined value added from Macao's four priority sectors, including traditional Chinese medicine, rose by 6.9 percent compared to 2019.

In the same year, the Macao SAR government followed up on around a dozen investment plans on scientific and technological industries, and supported a batch of research fruits to commercialize.

SOUNDBITE 2 (Chinese): LEI WAI NONG, Secretary for Economy and Finance of Macao SAR government
"We are fully committed to fostering new industries and cultivating new growth drivers while consolidating and enhancing traditional industries, so as to promote the economic diversification and sustainable development in Macao."

Over the years, Macao has been making efforts to better integrate into the overall national development.

In 2023, the trade volume between the mainland and Macao totaled 3.84 billion U.S. dollars, a 4.3-fold increase over volumes recorded before its return to the motherland.

By October 2024, the mainland had absorbed 23.93 billion U.S. dollars of direct investment from Macao, and Macao had received 14.19 billion U.S. dollars of direct investment from the mainland.

By signing the Closer Economic Partnership Arrangement (CEPA) and its series of agreements, the mainland has achieved full trade liberalization in goods and basic liberalized trade in services with Macao.

In October this year, the mainland and Macao signed an updated version of CEPA, aiming to lower or cancel the entry threshold for the region's services providers in key areas such as medical care, finance, innovation, tourism, and science and technology.

SOUNDBITE 3 (Chinese): SAM HOU FAI, Macao's incoming chief executive
"The SAR government will further advance the implementation of 'one country, two systems' and give full play to our distinct advantages in the new journey of national development and seize our opportunities."

Xinhua News Agency correspondents reporting from Macao, China.
(XHTV)