firm support: Addressing a gathering to celebrate the 20th anniversary of Macao's return to China on Friday, Chinese President Xi Jinping urged Macao to focus on selected aspects and projects based on the region's conditions and well-conceived procedures to appropriately diversify its economy, the Xinhua News Agency reported, according to Global Times China. Macao should grasp the opportunity brought by the building of the Belt and Road Initiative BRI and the Guangdong-Hong Kong-Macao Greater Bay Area, Xi said. Xinhua/Li Tao Officials and business representatives in Macao say they are confident that the special administrative region is able to build up its financial industry with its own characteristics for future development, with the central government providing firm support. He stressed cooperation between Macao and neighboring Zhuhai, South China's Guangdong Province to develop the Hengqin New Area. However, the reported measures were not announced on Friday. Xi's Macao visit would include the announcement of new policies aimed at diversifying the city's casino-dependent economy into a financial center, Reuters reported last week, citing officials and corporate executives.
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