The Government was able to see a healthy balance sheet despite a period of consolidation in the gaming industry, thanks to a well-established financial reserve system.

This is due to the Government having remained vigilant in times of prosperity, when it enhanced the financial system with diversified reserves, namely the basic fiscal reserves, foreign currency reserves and surplus reserves.

Speaking to the press today as he wrapped up his four-day visit to Beijing to attend the opening of the Third Plenary Session of the Twelfth National People’s Congress, Chief Executive Mr Chui Sai On said the Government would strictly adhere to the Basic Law principle on managing expenditures within its revenues and in drawing up budget.

Prior to the press briefing, Mr Chui met with the Governor of the People’s Bank of China, Mr Zhou Xiaochuan, and the Chairman of the China National Tourism Administration, Mr Li Jinzao.

Mr Chui told the press that in the meeting with Mr Zhou Xiaochuan, they discussed issues on the stability of Macao’s financial system, methods to make best use of fiscal reserves and development on the Renminbi business.

Mr Chui said he was grateful to the Bank’s long-term support on the steady development of the financial system, especially assistance on Renminbi business.

In the meeting with Mr Li Jinzao, he said they exchanged views on measures to enhance tourism policies and arrangement in the mainland’s peak travel period. They also discussed the report of the city’s capacity to accommodate mainland visitors that would be later submitted to the Central Government.

When asked, Mr Chui said the Government was cautiously optimistic on the gaming industry in the long run, where he foresaw a healthy and steady growth.

He said the Government was also approached to extend co-operation with Jiangmen in Guangdong province, but no agreement was signed so far.