China is vigorously rolling out a package of incremental policies focusing on five aspects to drive sustained economic revival in response to new developments and issues in the current economic performance, the country's top economic planner said in Beijing on Tuesday.
At a press conference, Zheng Shanjie, director of the National Development and Reform Commission, elaborated on the policies centered around strengthening counter-cyclical adjustments in macroeconomic policies, expanding effective domestic demand, enhancing support for enterprises, stabilizing the real estate market, and boosting the capital market.
"Firstly, in response to the downward pressure on economic performance, there is a need to strengthen counter-cyclical adjustments in macroeconomic policies, requiring sustained and intensified efforts across all aspects. Secondly, to address issues such as insufficient effective domestic demand, the focus of the incremental policy to expand domestic demand should be more on benefiting the people, promoting consumption, and actively leveraging the driving role of investment. Thirdly, given the current production and operational challenges faced by certain enterprises, efforts are being intensified to support these companies, effectively optimizing the business environment to help them overcome challenges," Zheng said.
"Fourth, in response to the prolonged weakness in the real estate market, comprehensive policy measures are being implemented to promote stability and recovery in the real estate market. Fifth, to address issues such as the previous turmoil and downturn in the stock market, robust and effective measures are being introduced to boost the capital market," he said.
China rolls out incremental policies for sustaining economic revival: official
China rolls out incremental policies for sustaining economic revival: official
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
