3.THE OBJECTIVES
3.1 The Main Objective
To establish Macau as a medium-sized international city under the principle of "One Country, Two Systems" that is fully open in China as well as the Asia Pacific Region through the hard effort of 20 years.
3.2 The Following Major Milestones should be Achieved by 2020
3.2.1 Major economic and development indices approximate or equal to the average of developed cities or countries in the world. The overall GDP and the GDP per capita should increase by more than 1.5 to 2 times and 3 to 3.5 times at constant prices and current prices of 2000 respectively. This represents an annual real growth rate of 6%, based on an assumption that the total population ofMacau will only rise moderately (the maximum can be limited to 600,000 in 20 years). This also indicates a social structure with the middle income class as the core group in Macau. The income difference among the community members can be reduced, with the Gini coefficient maintained at 0.3 to 0.4.
3.2.2 A positive leading role in the cooperation with Guangdong Province and Hong Kong.
3.2.3 A leading city with an extensive international network that is highly regarded by the Asia Pacific Region and the world.
3.2.4 A unique and competitive system for tourism, integrated services,communication, off-shore finance, higher education and culture. Also, high competence and advanced development in new and value-added products for the manufacturing sector.
3.2.5 An appropriate fiscal reserve, a better social welfare system, a higher capability to handle natural disasters and crisis management, and a higher competence for self development.
3.2.6 A democratic political system based on a stable foundation. To become more involved in public administration, the middle-income professionals can properly perform their expected functions in terms of quality and quantity.
3.3 The Practical Definition of a Prestigious International City
3.3.1 A driving force in the national and regional development, with a high level of standard in the rationality of industrial structure, production efficiency,creativity and management that can match the international or regional standard.
3.3.2 A rapidly growing territory that has the advanced infrastructure and fast communication to perform the functions of a global or regional centre.
3.3.3 A cultural exchange centre and international trading centre, with an extensive international network, a highly recognized image and a high-volume traffic of people, goods and communication.
3.3.4 A well developed economic mechanism that is able to have sustainable development and maintain a high growth rate while keeping a low inflation and unemployment rate.
3.3.5 A balanced development for the community, with fair competition, freedom of press, low crime rate, fair judicial system, and a comfortable and harmonious environment for the living and development of different groups of people.
3.3.6 Distinctive and unique strength in certain areas of the economy, which can be developed into a highly competitive edge in the international market.
3.4 Definitions of a Medium Sized City
3.4.1 A population of 500,000 to 1,000,000. With the land area expanded by less than 100%, Macau's maximum population can grow to 600,000 in 20 years.
3.4.2 An appropriate size of area. Based on a realistic assumption, Macau can expand its area to about 35 to 40 square kilometres.
3.4.3 The economic impact and potential surpass those of the nearby cities with similar size of land and population.
3.4.4 A complementary role and transit centre for major international cities in the region.
3.4.5 "Medium size" refers to the possession of basic resources, and does not represent a moderate development. As a prestigious world-class international city, its social and economic development shall reach the high standard of developed countries.
3.5 Concepts and Results
3.5.1 Based on the experience in China or other countries, there is a solid proof that we should from time to time adjust and revise our concepts and directions to achieve a better result.
3.5.2 It is an optimization process of continuous learning as well as a scientific process of decision making to revise the development concepts, which should be a focal point of the Macau SAR Government as well as the entire community.
3.5.3 "Positive" and "negative", "open-minded" and "narrow-minded","innovative" and "old fashioned" are pairs of opposite words that are not only different in meaning but also contrasting in principle. People often talk about "positive, open-minded and innovative", but may not actually or whole-heartedly be so. On the other hand, no one will admit that he is negative, narrow-minded,or old fashioned, but in fact he is. Hence there will be a mix of people who are superficially positive, open-minded and innovative with people who are actually negative, narrow-minded and old fashioned. They will co-exist in an organization,corporation or institution.
3.5.4 A successful development is very often a result of a combination of various related factors. However, under the same conditions or constraints, some people may succeed while some may fail. This is true not only at the peak but also at the bottom of an economic cycle. Hence we should focus on improving the internal and subjective factors.
3.5.5 For Macau's future development, we may consider the following four types of strategies: (1) stable, (2) transforming, (3) expanding, and (4) innovative.From a conservative point of view, the order of preference should be (1)>(2) >(3) >(4). However, when considering effective returns, the order should be (1)<(2) <(3) <(4). Actually, we cannot say that a stable strategy is totally wrong, as an innovative strategy may not be entirely correct. It depends on the timing of implementation. A stable strategy may be necessary at a certain period, while innovative strategy may be critical for certain issues. Hence the crux lies in the flexible implementation of various strategies. In summary, we believe that Macau should primarily adopt an expanding and innovative strategy, with the complement of a stable and transforming strategy. In the beginning, Macau should execute a stable and transforming strategy, but in the long run, it should better adopt an expanding and innovative strategy.
3.6 The Possible Economic Development during the Four Terms ofMacau SAR Government
3.6.1 The first term of the Macau SAR Government (2000-2005)
The former Macau Government, under the ruling of Portugal, has governed this territory for a long period of time and left many unresolved issues.Unfortunately, when the Macau SAR Government commenced its administration,our economy suffered a downward trend. Hence the first term of SAR Government has to make a tremendous effort in the first and second years to resolve the outstanding issues and build up a new foundation. This will help our economy turn around and grow rapidly in the latter three years (an annual real growth rate of approximately 5% to 8%). In summary, the objective for the first term of SAR Government is to initially build up a fiscal reserve and establish an appropriate strategy and foundation for Macau's long-term development.
3.6.2 The second term of the Macau SAR Government (2005-2010)
It is expected that the global economy will continue to grow steadily in thefirst decade of the 21st century. As Macau has established a more stable foundation for its development, its economy will grow at a much faster pace in these five years. Also, there should be a substantial breakthrough in the reform of public administration. However, as the export quota for textiles will be cancelled in this period, the manufacturing sector should properly prepare and adjust itself for that. If this is not handled properly, the Macau SAR Government will have to deal with another economic challenge.
3.6.3 The third term of the Macau SAR Government (2010-2015)
It is possible that the global economy may experience a periodic adjustment in these five years. However, by that time, the Pearl River Delta Region should become modernized and Hong Kong should be a prestigious international metropolitan city in the region. This will be beneficial to Macau's development.Also, by that time, Macau should have established a new foundation for its economy, with a smooth government administration. Hence, Macau's economy should be able to maintain a fast and quality development in these five years.The gap with the developed countries will be further reduced. However, the Macau SAR Government and the community should always keep in mind the importance of crisis management, alertness, autonomy, and innovation.
3.6.4 The fourth term of the Macau SAR Government (2015-2020)
After tremendous effort to revise the original objectives of development,this term of the Macau SAR Government should be in a better position to further expand the economy. Given a better foundation, the Government should be able to enhance the social structure and steer the economic development in a correct track for a higher return. Macau's social and economic development should have a tremendous improvement, which will enable the territory to become a prestigious city in the region. However, we should not rule out the possibilitythat the above objectives cannot be achieved and Macau will further lag behind Hong Kong and other nearby cities.
