Welcome to IMG Macau... The Macau Special Administrative Region of the People's Republic of China, commonly known as Macau or Macao, is one of the two special administrative regions of the People's Republic of China, the other being Hong Kong. Macau lies on the western side of the Pearl River Delta, bordering Guangdong province in the north and facing the South China Sea in the east and south. The territory has thriving industries such as textiles, electronics and toys, and a notable tourist industry that boasts a wide range of hotels, resorts, stadiums, restaurants and casinos. This makes it one of the richest cities in the world. Macau was both the first and the last European colony in China. Portuguese traders first settled in Macau in the 16th century and subsequently administered the region until the handover on December 20, 1999. The Sino-Portuguese Joint Declaration and the Basic Law of Macau stipulate that Macau operates with a high degree of autonomy until at least 2049, fifty years after the transfer. Under the policy of "one country, two systems", the Central People's Government is responsible for the territory's defense and foreign affairs, while Macau maintains its own legal system, police force, monetary system, customs policy, immigration policy, and delegates to international organisations and events. Macau's economy is based largely on tourism, much of it geared toward gambling. Other chief economic activities in Macau are export-geared textile and garment manufacturing, banking and other financial services. The clothing industry has provided about three quarters of export earnings, and the gaming, tourism and hospitality industry is estimated to contribute more than 50% of Macau's GDP, and 70% of Macau government revenue. Macau is a founding member of the WTO and has maintained sound economic and trade relations with more than 120 countries and regions, with European Union and Portuguese-speaking countries in particular; Macau is also a member of the IMF. World Bank classifies Macau as a high income economy and the GDP per capita of the region in 2006 was US$28,436. After the Handover in 1999, there has been a rapid rise in the number of mainland visitors due to China's easing of travel restrictions. Together with the liberalization of Macau's gaming industry in 2001 that induces significant investment inflows, the average growth rate of the economy between 2001 and 2006 was approximately 13.1% annually If you want to know more and be part on how to build IMG Macau, please fill up the query form below. |