Macau Investment and Development Limited (hereinafter referred to as “MID”) is a public capital enterprise that enjoys advantages in policies, capital and corporate regime. As at 31 December 2020, after six capital injections, the capital of MID was 9.285 billion patacas, and the total amount spent on investment was 8.964 billion patacas, of which 8.074 billion patacas was invested in Industrial Park project in Hengqin and 890 million patacas was invested in Zhongshan project. In the performance audit report “Management of Macao Investment and Development Limited” released in December 2020, the Commission of Audit (CA) disclosed that the Industrial Park project had had noticeable problems in management and decision-making. In order to further investigate the major investments made by the Macao SAR Government in neighboring areas, CA conducted an audit on the Zhongshan project thereafter and then completed the performance audit report “Management of Macao Investment and Development Limited” (II), discovering that Parafuturo de Macau Investment and Development Limited (hereinafter referred to as “Parafuturo de Macau”), which is a subsidiary of MID, failed to carry out the preliminary study properly when it made decision on major investments, ignoring the potential risks.