As China enters the 15th Five-Year Plan (2026-30) and the Macao Special Administrative Region is rolling out its third five-year plan in the Year of the Horse, it is crucial that Macao's plan, as well as Hong Kong Special Administrative Region's first Five-Year Plan which is in the making, will be aligned with the national new plan.

Alignment in economic planning maximizes resources and enhances the effectiveness of investments by reducing duplication. It involves synchronizing economic activities and policies to achieve shared goals. President Xi Jinping's concept of "new quality productive forces" emphasizes high-quality, innovation-driven economic growth, moving away from the traditional resource-intensive model.

The "one country, two systems" policy is the constitutional cornerstone of the Macao SAR. Macao is not only a special administrative region of China, but also an inalienable part of the country as clearly stated in Article 1 and 2 of the Basic Law of the Macao SAR. Therefore, aligning Macao's third five-year plan with the central authorities' 15th five-year plan is both logical and constitutionally valid.

The recommendations for the national plan were adopted at the fourth plenary session of the 20th Central Committee of the Communist Party of China last October, and the final version was reviewed and approved by the National People's Congress in Beijing in March.

For the first time, the nation's five-year plan includes a special section on the socioeconomic development of Hong Kong and Macao SARs. This signals the central authorities' determination to help realize Macao's long-held desire to become a globally recognized hub not only for tourism and leisure but also for various other industries in its ongoing effort to establish key platforms for healthcare, modern finance, conventions and exhibitions, scientific development and research, cultural and artistic exchanges and international sports events.

Specifically targeting Macao, the 15th Five-Year Plan focuses on speeding up its economic diversification and deeper integration into national development — particularly within the Guangdong-Hong Kong-Macao Greater Bay Area — and strengthening its role as a bridge to Portuguese-speaking countries.

The plan is a "high-quality development" blueprint aimed at ensuring Macao's long-term economic growth, prosperity and the well-being of its residents. Its focus areas are Macao's economic diversification in conjunction with the Macao SAR Government's"1+4" development and modernization strategy. While "1" denotes its determination to consolidate its position as a world center of tourism and leisure, "+4" indicates Macao's resolve to continue developing four key industries: healthcare in conjunction with traditional Chinese medicine, modern finance, high-tech innovation and conventions and exhibitions. The strategy aims to diversify Macao's economy beyond the gaming industry and increase investment in non-gaming aspects of the industry.

The 15th Five-Year Plan also focuses on further integration between Macao and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, a large island adjacent to the Macao SAR. The cooperation between Guangdong and Macao in Hengqin has enabled Macao, which is bursting at the seams, to overcome its geographic constraints. The joint development of Hengqin is seen by the Macao SAR Government as a primary strategic initiative.

Moreover, the 15th Five-Year Plan strives to strengthen Macao's role as a base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist, thus enhancing its international cultural prestige.

The plan also endeavors to boost Macao's financial development, which can boost establishment of a government-led guidance fund, attracting private equity, advancing the local bond market and developing a "digital pataca", Macao's sole legal tender.

It also urges Macao to enhance its role as a platform between China and Portuguese-speaking countries, facilitating trade and economic exchange.
The plan reaffirms the vitality of the "one country, two systems" principle, pledging to safeguard national security, maintain social stability, and ensure that the "patriots governing Macao" principle is firmly upheld.

The 15th Five-Year Plan encourages the Macao SAR to participate actively in the Belt and Road Initiative, and integrate into the overall national development framework. The fact that the 15th Five-Year Plan has dedicated a special section to Hong Kong and Macao reaffirms the central authorities' regard for the cities and their confidence in their capacity to contribute to the nation's ongoing modernization drive.

The plan marks a significant shift toward greater integration of Hong Kong and Macao with the Chinese mainland, particularly through the Guangdong-Hong Kong-Macao Greater Bay Area. This integration focuses on advanced manufacturing, sci-tech innovation and "soft connectivity" to boost communication and collaboration among the 11-member cities.

The GBA, spread over 56,000 square kilometers and housing over 87 million people, has rapidly become a global powerhouse in manufacturing and research since its launch in 2019. Macao, the smallest of the 11 GBA cities, constitutes just 0.06 percent of this massive area and 0.8 percent of the total population. But it contributed a significant 2.4 percent to GBA's total annual GDP of 15 trillion yuan ($2.15 trillion) last year.

Deeper integration with the GBA and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin may be the main focus of Macao's third five-year plan. The local authorities are also determined to strengthen national security and develop Macao into a "smarter" and more sustainable city. This includes efforts to tackle the city's public transport challenges. Local officials should collaborate with their counterparts in the Chinese mainland. The public transport there is a model of efficiency.

Macao has the financial wherewithal to take on its development challenges. Among international credit agencies, the Macao SAR is known for its robust fiscal buffers and financial resilience. Its fiscal reserves amounted to an astonishing 661 billion patacas ($82 billion) in November 2025, while its foreign exchange reserves amounted to 240.8 billion patacas. For Macao to be able to maintain and enhance its high standard of living, integration with the GBA is crucial.

As Macao, Hong Kong, and Guangdong grow into a leading global metropolis, embracing the alignment concept is vital. It ensures Macao's five-year plan will succeed. Macao, Hong Kong and the Guangdong section of the GBA have quickly grown into one of the world's top metropolises. It's a welcome and exciting development and fills me with optimism that the GBA will become one of the world's most successful "bay area" economies long before the People's Republic of China celebrates its 100th anniversary in 2049.

The author is the director of the Macau Post Daily.

The views don't necessarily reflect those of China Daily.

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