MACAU/HONG KONG (Dec 12): Chinese President Xi Jinping will visit Macau next week to announce a raft of new policies aimed at diversifying the city’s casino-dependent economy into a financial centre, according to over a dozen interviews with officials and corporate executives.
The move is seen by officials and executives in Macau as a reward for having avoided the anti-government protests that have gripped nearby Hong Kong over the past six months.
The policies include the establishment of a yuan-denominated stock exchange and the acceleration of a renminbi settlement centre already in the works, as well as the allocation of land for Macau to develop in neighbouring mainland China, they said.
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