Study On The Mainland-orientated Of Gaming Finance In Macao

Hong Kong SAR? Macao SAR and Taiwan region have special status in the modernizing process of China,which have their unique historical,geographical and cultural advantages,develop their own economy,society and politics.As one of them,the Macao Special Administrative Region is booming in economic in recent year.The rapid development of Macao got much attention and affirmation in social circles and the government,and also became an important research object in regional economics.The skyrocketing economy in Macao can hardly exist without gaming industry,which outshine others in the past years.Excessive prosperity of gaming industry makes Macao's fiscal revenue overly dependent on the gaming tax,while the development of the gaming industry also influenced by various factors in mainland of China.The economic base of Macao seems strong,but fragile instead.This paper analyzes the formation of Macao's gaming finance,the influence of mainland factors on Macao's gaming finance and its transmission mechanism from the perspective of qualitative,quantitative and empirical,which bases on the domestic and foreign scholars' research on the state of Macao's economy and gaming industry.And put forward the corresponding management suggestion.First of all,the paper refers to the existing research results from domestic and overseas scholars,find that the existing related research results are relatively plentiful but not systematic,and most of them are qualitative research in a single aspect.Then analysis the impact of Macao's gambling industry on economic growth,the impact of gambling industry on other industries,and the impact of operation situation of gambling on fiscal revenue,to verify the status of gaming finance in Macao.And analyzes the current of the Mainland-orientated situation of the Gaming Finance through the relationship between the number of mainland tourists,the per capita consumption of mainland tourists,the number of days to stay of mainland tourists,the GDP of mainland and fiscal revenue in Macao.Next,built the VAR model by using 5 variable which including 4 mainland factors and the fiscal revenue of Macao,vetify that there are steadiness and long-term co-integration relationship between these variables,test the "mainland-oriented" situation of gaming finance and the influence path of different mainland factors for the Macao gaming industry,and draw the conclusion that the contribution rate of Macao's financial revenue increase from high to low is the GDP of mainland,the number of mainland tourists,the per capita consumption of mainland tourists and the number of days to stay of mainland tourists.Therefore,combined the actual situation of Macao,the theoretical results and the current policy,the paper puts forward some suggestions on the governance of Macao's gaming industry,Macao should first strengthen their own ability of resisting impact from mainland in gaming industry,then get rid of dependence of gaming industry from the mainland gradually,finally striving for industry diversification,and free Macao from the dependence on the gaming industry.