Macao releases 1st development plan for appropriate economic diversification

MACAO, Nov. 1 (Xinhua) -- China's Macao Special Administrative Region (SAR) government on Wednesday released a development plan for Macao's appropriate economic diversification from 2024 to 2028, the first systematic industrial development plan issued in Macao.

The document outlines specific planning and arrangements for developing Macao's industries of tourism and leisure, traditional Chinese medicine and big health, modern finance, new and high technologies, conventions and exhibitions, and culture and sports, based on the second five-year plan of the Macao SAR and the city's appropriate economic diversification strategy.

Responding to China's 14th Five-Year Plan (2021-2025) and the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the new development plan aims to set the specific targets, major tasks and key projects for Macao's appropriate economic diversification from 2024 to 2028, promote the development of new industries, cultivate new economic growth points, consolidate and upgrade traditional industries of strength, and push for the sustainable and quality development of Macao economy, according to the Macao SAR government.