Macau (traditional Chinese: 澳門; simplified Chinese: 澳, also known as Macao (pronounced /məˈkaʊ/) 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 to the north and facing the South China Sea in the east and south.
The territory features industries such as textiles and toys, as well as a notable tourist and gambling sector. It has the highest life expectancy in the world (2008).
Macau was a Portuguese colony and both the first and last European colony in China. Portuguese traders first settled in Macau in the 16th century and subsequently administered the region until the handover on 20 December 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 defence 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. 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.
Notes from Wikipedia
