China’s President Xi Jinping will be in Macau from December 18 to 20 to take part in the celebrations to mark the 25th anniversary of the establishment of the Macau Special Administrative Region (MSAR). The visit was confirmed on Saturday by the official Xinhua news agency and Macau’s Government Information Bureau.
While in the city, President Xi (pictured in a file photo) will also attend the inauguration ceremony of Macau’s new Chief Executive, Sam Hou Fai, formerly the city’s most senior judge.
Mr Xi will also be touring the city for an inspection during his visit.
Macau’s incoming new government is to be sworn-in on Friday, December 20.
As part of Macau’s new cabinet, Tai Kin Ip, currently the head of the Economic and Technological Development Bureau, will be the next Secretary for Economy and Finance, the official that oversees the city’s gaming industry. Mr Ip replaces Lei Wai Nong, who has been in the post since late December 2019.
Investment analysts have said they expect a “softer-than-seasonal December” in terms of gross gaming revenue (GGR) in Macau, citing Mr Xi’s visit to the city.
“Past experience would suggest a temporary GGR impact from late November,” in relation to several politics-related events that are scheduled to occur in December, suggested Goldman Sachs (Asia) LLC in a November memo.
Analysts have mentioned in relation to previous visits by China’s leadership, the likelihood some players postpone trips to Macau.
The Chinese President’s last visit to Macau was in 2019 for the 20th anniversary of the city’s handover to the mainland, and the swearing-in of incumbent Chief Executive, Ho Iat Seng.
