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Macao's per-capita GDP ranks second in Asia

2009-12-07 17:19 BJT

Special Report: Macao 10 Years On |

Macao's per-capita GDP rose from over 13 thousand U.S. Dollars in 1999 to over 39 thousand in 2008, ranking second in Asia as a whole, according to a report by Beijing-based newspaper the Legal Times.

A symposium is held in Beijing on Friday, Dec.4, 2009 to mark the 10th anniversary of the Basic Law of the Macao Special Administrative Region, which took effect on Dec. 20, 1999 when Chinese government resumed the exercise of sovereignty over Macao. [Photo: news.cn]
A symposium is held in Beijing on Friday, Dec.4, 2009 to mark the 10th anniversary 
of the Basic Law of the Macao Special Administrative Region, which took effect on 
Dec. 20, 1999 when Chinese government resumed the exercise of sovereignty over Macao.
 [Photo: news.cn]

Zhang Xiaoming, deputy director of the State Council's Hong Kong and Macao Affairs Office released the figures at a symposium in Beijing, marking the 10th anniversary of the Basic Law of the Macao Special Administrative Region (SAR), which took effect on Dec. 20, 1999.

Thanks to the "one country, two systems" policy and the Basic Law's implementation, Macao has seen steady economic growth since 1999 - it has enjoyed an average annual GDP growth of 13 percent over the past decade despite of the impact of the Asian financial crisis and the global economic downturn as well.

Meanwhile, international organizations such as the WTO have listed Macao as one of the world's most free and open trade and investment markets, said the report.

These achievements generated positive response from among Macao residents. According to a recent telephone survey of 882 people, 96 percent of the respondents said they were satisfied with Macao's development after its return to the motherland.