Central People’s Government Liaison Office Director Wang Zhimin said in his address during a reception on Friday celebrating the Chinese New Year it was “exceptional” that Macau could achieve full employment and economic stability last year amid the ongoing pressure of the global economic slowdown.
The event took place at Macau Tower, with more than 1,000 people attending, including Chief Executive Fernando Chui Sai On, senior local government officials, lawmakers, Executive Council members, representatives of the Office of the Foreign Ministry Commissioner and the People’s Liberation Army (PLA) Macau Garrison, foreign consuls accredited to Macau, as well as local community leaders.
Pointing out that Macau experienced an “extraordinary and unforgettable year” in 2016, Wang noted that the city enjoyed a stable economy, financial system and public finances last year.
Wang also underlined the fact that the special administrative region achieved full employment, falling inflation, a harmonious society, and residents’ improve livelihood last year.
Official statistics released on Friday showed that Macau’s inflation rate fell to 2.37 per cent last year, the lowest rate since 2009. In 2015, inflation reached 4.56 per cent.
Wang praised Macau for its dedication last year to integrate its policies with the central government’s 13th Five-Year Plan and its One Belt, One Road Initiative. He also pointed out that the city’s economic co-operation with the mainland is becoming stronger.
Wang said that it was “exceptional” that Macau, as a “small economy”, could achieve a good performance last year amid the ongoing pressure of the global economic slowdown as well as increased uncertainty in the global economy.
Wang praised Chui, his government and public servants for their dedication in contributing to the city’s development.
Wang is the central government’s highest official posted to Macau.