China will continue issuing ultra-long-term special treasury bonds and ensure effective allocation of funds in 2025 to better implement major national strategies and build up security capacity in key areas, the top economic planner told China Central Television (CCTV) on Tuesday.
To date, this year's 700 billion yuan (about 98 billion U.S. dollars) central government budget for investment has been fully allocated. Of the one trillion yuan (about 140 billion U.S. dollars) in ultra-long-term special treasury bonds, all 700 billion yuan designated for "implementing major national strategies and building up security capacity" has been in place for relevant projects, according to the National Development and Reform Commission (NDRC).
The NDRC plans to expedite the construction of those projects, aiming to generate tangible output within the year to fuel economic growth in the fourth quarter, it said.
Since the start of this year, the NDRC has identified 1,465 key projects around "implementing major national strategies and building up security capacity in key areas" and those concerning national interests. Ultra-long-term treasury bonds have been issued to support major initiatives such as the high-speed railway along the Yangtze River, high-standard croplands in Northeast China, urban underground pipeline networks, energy-saving and carbon reduction transformations in key sectors, and the shelterbelt program in northeast, north, and northwest China.
The commission said there will be an increase in the central government budget for investment, with the focus on major projects that are of fundamental and far-reaching importance and serve the public interest. The proportion of central budget investment supporting local projects will be appropriately raised, and efforts will be made to guide and leverage social capital.
China to continue issuing ultra-long special treasury bonds in 2025: official
China to continue issuing ultra-long special treasury bonds in 2025: 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
