Shares of Macau casino stocks are up during early trading on Monday after China announced the inclusion of eight additional cities to its Individual Visit Scheme (IVS) program.
The State Council of the People’s Republic of China announced on Saturday that eight more cities qualify for IVS, which allows individuals on the mainland to easily travel to Macau and Hong Kong. IVS excludes the need to apply for business visas or participate in a group tour to access the two Special Administrative Regions (SARs).
Ho Iat Seng, the chief official in Macau, celebrated the development and said it will bring more visitors to the region, the only place under Chinese control where casinos are allowed.
The Macau SAR Government will endeavor to promote the hosting of more international events, enriching the content of MICE (Meetings, Incentives, Conventions, and Exhibitions), as well as cultural and sports activities, to create a diversified travel experience for visitors,” Ho declared.
Beginning May 27, residents from Taiyuan, Hohhot, Harbin, Lhasa, Lanzhou, Xining, Yinchuan, and Urumqi will be able to participate in the IVS program administered by China’s Exit and Entry Administration.
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Beginning May 27, residents from Taiyuan, Hohhot, Harbin, Lhasa, Lanzhou, Xining, Yinchuan, and Urumqi will be able to participate in the IVS program administered by China’s Exit and Entry Administration.