Premier Li announces 19 initiatives

Premier Li Keqiang announced Bejing’s 19 MSAR-favouring measures yesterday upon wrapping up his three-day trip to the city, which included confirmation of the implementation of Macau vehicles entering Hengqin by the end of the year and the Free Travel Yacht Scheme with Guangdong Province within the first half of next year.
The top official made the announcement whilst conferring with the MSAR Government and various society and business members yesterday morning in the Macau East Asian Dome, prior to his departure for Beijing.
The 19 measures include support for the MSAR to set up a renminbi clearing centre for Portuguese-speaking countries as well as an export credit insurance system; establishing the headquarters of the Sino-Luso Development Fund in the MSAR; developing the marine economy; boosting businesses in the Pearl Delta River region wishing to invest in Macau as well as boosting large-scale Chinese e-commerce companies wanting to co-operate with local enterprises wishing to expand the e-commerce market in Lusophone countries.
The Chinese premier noted in the meeting that these policies are expected to support the development of the city’s finance industry, merchandise and service trade. In addition, he believes the set-up of the Sino-Luso Development Fund headquarters in Macau can help fund national projects in the Portuguese-speaking countries.
The Beijing official also stressed that the central government affirmed the work of the MSAR Government, adding Beijing has noted the city is suffering ‘temporary pains’ in order to transform its economic structure.
But he expressed his confidence in the city’s economic development, noting Macau still has the potential to go further. Commenting upon the city’s current economic downturn as “a risk and a challenge,” Mr. Li said the city should boost the substantiality and diversification of its economy.
Arriving in the Special Administrative Region on Monday, the Chinese premier attended 48 events during the three days, the director of the central government’s Liaison Office in Macau, Wang Zhiming, revealed yesterday.
The premier, apart from attending activities of the Sino-Luso forum, met the local community during the three days, including visiting schools, families and tourist districts.
The 19 measures announced yesterday encourage the MSAR to seek co-operation with the Silk Road Fund, the Sino-Latin American Production Co-operation Investment Fund and China-Africa Development Fund.