Macau finance minister steps down for ‘personal reasons’

Macau’s finance minister has resigned over “personal reasons,” prompting the city’s chief executive to temporarily assume his duties until a new candidate is appointed.The cabinet change took effect on Thursday after China’s State Council approved the removal of Tai Kin-ip from the post of secretary for economy and finance, in accordance with Macau’s Basic Law and the recommendation of Chief Executive Sam Hou-fai.Tai, 57, who only assumed the senior role in December 2024, said he had earlier submitted his resignation to Sam for “personal reasons,” according to a government press statement.“I will, as always, continue to care for and support the chief executive and the government in governing according to the law, and contribute to Macau’s various development initiatives,” he said.He also expressed gratitude to the central government and to Sam for their trust and support, as well as to civil servants in the economic and financial sectors for their dedication and cooperation.In a separate statement, Sam thanked Tai for his contributions and hard work.“Tai has consistently implemented the government’s governance philosophies and policy plans, leading his team to govern responsibly and in accordance with the law, while driving new progress in Macau’s economic and financial sectors,” Sam said.