Macau\u2019s Mass-Market Pivot<\/strong><\/h2>\nXi has long called for Macau to diversify its economy, and its most recent integrated resorts have heeded that call.<\/p>\n
Properties like the Parisian Macao and the Wynn Palace Macau are decked out with family-oriented amenities and non-gaming attractions \u2013 part of a pivot towards the mass market, middle-class Chinese tourist.<\/p>\n
This contrasts with its former reliance on the VIP segment, which Beijing believes has facilitated money laundering and capital flight.<\/p>\n
Macau’s stock exchange will initially focus on bond trading and start-ups, and will also target companies from the Portuguese-speaking world so that it doesn\u2019t compete directly with the Hong Kong or Shenzhen exchanges, sources said.<\/p>\n
“Xi Jinping has made very clear that he wants a diversified Macau economy,” they added. \u201cThe future focus will be on tourism and finance, to make it a center to host international meetings like Singapore.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau casino stocks jumped Thursday on the news that Chinese President Xi Jinping is expected to announce policies to diversify the economy of the special administrative region (SAR) and turn it into a financial center. Four sources familiar with the matter told Reuters that this includes the establishment of a yuan-based stock exchange and other […]<\/p>\n","protected":false},"author":36,"featured_media":122153,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,61],"tags":[],"acf":[],"yoast_head":"\n
Macau to Become Financial Hub as Hong Kong Falls Out of Favor<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n