MACAO, Nov. 18 (Xinhua) -- Macao should move faster and make greater efforts to build a more diversified economy, Macao Special Administrative Region (SAR)'s chief executive Sam Hou Fai said Tuesday while delivering the 2026 Policy Address at the Legislative Assembly.

Sam said that developing an appropriately diversified economy is "a task that must be accomplished," adding that the government will step up policy support, increase investment, and further improve the business environment. The goal, he added, is to nurture new industries with international competitiveness and advance the city's "1+4" economic diversification strategy.

The chief executive said Macao will continue to upgrade its integrated tourism and leisure sector, deepening the "tourism+" and promoting combinations such as tourism plus gastronomy, tourism plus signature events, tourism plus conventions and exhibitions, tourism plus education, and tourism plus healthcare, in order to offer visitors a more diverse experience.

Sam said the government plans to create an industrial fund and a guiding fund. Led by the SAR government and jointly funded by public and private resources, the funds will be managed by professional teams and will invest in industries and projects that support Macao's diversification goals, helping to accelerate the growth of emerging sectors.

Macao will also advance the traditional Chinese medicine and health industry, promote high-quality development in the modern financial sector, speed up the growth of high-tech industries, enhance the competitiveness of the convention and exhibition industry, and support the sustained development of cultural and sports industries, he said.

Sam added that Macao will boost its digital economy, encouraging small and medium-sized enterprises to make better use of cross-border e-commerce and livestreaming to explore markets, and helping Macao companies and e-commerce platforms in the Chinese mainland expand their presence overseas. Enditem