Xi Jinping Swears in New Macao Leader

During the swearing-in ceremony of new Chief Executive Sam Hou Fai, Chinese President Xi Jinping emphasized the urgent need for Macao to diversify its economy, which has become heavily reliant on the gambling industry. Xi highlighted that while living standards have risen since the 1999 handover from Portugal, the local economy's dependence on casinos poses significant risks, particularly for youth seeking diverse career opportunities. He called for enhanced industrial planning, investment in globally competitive sectors, and greater civic engagement among residents. Sam, the first leader born in mainland China, vowed to address these issues by promoting tourism and other industries such as finance and technology. Xi also expressed confidence in Sam's leadership, asserting that the central government will support Macao's efforts to safeguard national interests while fostering economic growth. This inauguration marks a pivotal moment as Macao seeks to navigate its future under the 'one country, two systems' principle.