Core Viewpoint - The Chief Executive of the Macao SAR, Ho Iat Seng, presented the second policy address of his term, outlining the government's focus on administrative reform, promoting diversification, optimizing livelihoods, and integrating into the national framework as the overall direction for governance in the coming year [1]. Economic Outlook - The 2026 fiscal year policy report sets key development goals for Macao, including sustained economic recovery, substantial progress in economic diversification, positive GDP growth, improved business environment, and enhanced economic vitality [1]. - Macao's GDP for the first three quarters of this year was estimated at 301.3 billion MOP, reflecting a real growth of 4.2%. The number of inbound visitors reached 29.67 million, with international travelers accounting for 1.89 million, marking increases of 14.5% and 12.4% respectively [2]. Social Welfare and Support - The report maintains existing universal welfare benefits while adjusting several assistance programs for vulnerable groups, including increased subsidies for three categories of disadvantaged families and enhanced support for caregivers [3]. - Specific adjustments include raising the marriage subsidy to 4,000 MOP, daily unemployment benefits to 210 MOP, and funeral subsidies to 5,200 MOP [3]. Governance and Administrative Reform - The report emphasizes deepening public administrative reform and promoting moderate economic diversification as core tasks to enhance governance efficiency [6]. - It outlines plans to restructure departmental functions to improve coordination and efficiency, addressing long-standing issues of communication and collaboration among government departments [7]. Economic Diversification Strategies - The government aims to deepen the "Tourism+" integration strategy, focusing on five key areas: "Tourism + Food," "Tourism + Events," "Tourism + Exhibitions," "Tourism + Education," and "Tourism + Health," to provide diverse experiences for visitors [8]. - New sectors such as "Tourism + Education" and "Tourism + Health" are being developed, with initiatives to create diversified educational travel routes and enhance healthcare services within the tourism framework [9]. Regional Cooperation and Development - The report highlights the importance of enhancing collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area, establishing mechanisms for joint development, and promoting high-quality growth [10]. - The Macao government is committed to advancing the Hengqin cooperation zone, with plans to increase the number of Macao personnel involved in its development and create a more integrated workforce [10][11].