Ho Iat Seng, president of China's Macao Special Administrative Region (SAR) Legislative Assembly, gestures during a press conference in Macao, south China, June 18, 2019. Ho Iat Seng announced on Tuesday his formal decision to run for the office of the fifth chief executive of the Macao SAR. (Xinhua/Cheong Kam Ka)

MACAO, June 19 (Xinhua) -- Ho Iat Seng, president of China's Macao Special Administrative Region (SAR) Legislative Assembly, announced on Tuesday his formal decision to run for the office of the fifth chief executive of the Macao SAR.

At a press conference held on Tuesday to declare his formal decision, Ho said over the past 20 years since Macao's return to China, the "one country, two systems" policy has been practiced in Macao with rapid development and achievements.

The development of the Guangdong-Hong Kong-Macao Greater Bay Area, and the Belt and Road Initiative have provided Macao with important opportunities for development. Macao should seek advantages, opportunities and development through reform and innovation, he added.

Ho stressed that if elected, he would carry out his duties in strict accordance with China's Constitution and the Basic Law of the Macao SAR, and implement the principles of "one country, two systems," "Macao people administering Macao" with a high degree of autonomy in an all-round and accurate manner.

Ho was born in Macao in June 1957 and once served as a member of the Executive Council of the Macao SAR. In October 2013, he was elected president of the Legislative Assembly of the Macao SAR and was re-elected in October 2017. He has been a deputy of China's National People's Congress (NPC) and a member of the NPC Standing Committee.

In April 2019, Ho announced his preliminary decision to run for the election and submitted his resignation to the NPC Standing Committee, which then accepted his resignation.

The election of the fifth chief executive of the Macao SAR will be held on Aug. 25, 2019.