What I intend to do through out the next twelve minutes or so is first to give you an up-date about Macao and its latest economic development, as well as an introduction of its financial sector; then I’ll move on to say a few words on the main theme of this conference. 2. Macao is no doubt in the lime light.
This enclave is a small but open economy with a relatively simple economic structure and a developing financial sector. It is governed under the principle of “One Country, Two Systems” in the context of our Basic Law. It is a free port, an independent tariff area; there is free flow of merchandize, financial assets and capital.