The Pak Banker

'China won't allow anyone to interfere in HK, Macau'

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President Xi Jinping said on Friday China would never allow foreign forces to interfere with its special regions of Hong Kong and Macau, as he swore in a new pro-Beijing government for the gambling hub of Macau.

Xi, speaking at a ceremony marking the 20th anniversar­y of Macau's handover to Chinese rule, heaped praise on the former Portuguese colony for its patriotism and loyalty but did not refer directly to six months of antigovern­ment protests in the nearby former British colony of Hong Kong.

"I must emphasize, since Hong Kong and Macau's return to the motherland, dealing with these two Special Administra­tive Regions' affairs is entirely China's internal affairs and none of the business of foreign forces," Xi said. "We do not let any external forces interfere."

Macau returned to Chinese rule on Dec. 20, 1999, with the same "one country, two systems" formula aimed at ensuring a high degree of autonomy under which Hong Kong is governed.

While protesters in Hong Kong, across the mouth of the Pearl River, are furious about what they see as Beijing's erosion of their freedoms,

Macau has seen little dissent.

Beijing denies underminin­g Hong Kong's autonomy and has repeatedly blamed foreign government­s, including the United States and Britain, for stirring up trouble in the Asian financial hub. Xi, wearing a black suit and maroon tie, swore in new Macau chief executive Ho Iat-seng and his administra­tion, which will run the enclave of several islands for the next five years.

Chinese President Xi Jinping speaks at a ceremony to inaugurate the fifth-term government of Macau Special Administra­tive Region and to celebrate the 20th anniversar­y of the former Portuguese colony's return to

China, in Macau, China December 20, 2019. Under a large Chinese flag and a smaller Macau one, Xi shook hands with Ho, who was selected in August by a largely pro-Beijing committee in a similar process to the way Hong Kong's leader is chosen.

Xi made no reference to Macau's casino industry, which accounts for more than 80% of its revenues, but encouraged diversific­ation and urged it to grasp opportunit­ies brought by a regional developmen­t zone known as the Greater Bay Area.

He also stressed further integratio­n with the mainland, although he did not announce any specific steps.

Officials and corporate executives have been expecting Beijing to reward Macau for its loyalty - in contrast to the defiance on the streets of Hong Kong - with measures including a new yuan-denominate­d stock exchange.

Xi said Macau's patriotism was "the most important reason" for the success of its "one country, two systems formula of governance".

Xi said China would be unwavering in the defense of its sovereignt­y.

"The will of the Chinese government and the Chinese people to safeguard national sovereignt­y, security and interest in developmen­t is rock solid," Xi said.

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