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Chinese Macau
Let's gamble!
Portuguese traders had landed in Ningbo and Swatow at the beginning of the 16th century, but were forced to abandon their trading-posts there. In 1535, the Portuguese obtained the right to anchor ships in Macau harbours and carry out trading activities.
In around 1552-1553, the Portuguese obtained permission to go ashore and erect storage sheds, in order to dry out goods drenched by sea water, and establish a settlement as a reward for defeating pirates and to serve as middlemen for trade between China and Japan and between both nations and Europe. In 1557, the Portuguese established a permanent settlement in Macau.
Beginning in 1670, Portugal leased the territory, although there was no transfer of sovereignty. Macau prospered as a port and was the subject of repeated attempts by the Dutch to conquer it in the seventeenth century.
In 1887, Portugal and the Qing government signed the Sino - Portuguese Draft Minutes and the Beijing Treaty, in which China ceded to Portugal the right to "perpetual occupation and government of Macau"; conversely, Portugal pledged to seek China's approval before transferring Macau to another country.
Macau's economy is based largely on tourism, much of it geared toward gambling. Other chief economic activities in Macau are export-geared textile and garment manufacturing, banking and other financial services.
Macanese Facts
Official language: Portuguese and Chinese
Population: 520,400 (167th)
GDP (PPP) 2005 estimate
Total $14,3 billion (139th)
HDI (2004) 0.909 (high) (25 th)
Currency: Macanese Pataca