defeated Stanley Au, also a local banker, in the historic election to lead the peninsula which covers 8 1/2 square miles at the tip of south China. The landmark vote is the last major political event before Macau, the oldest European settlement in Asia, returns Chinese rule for the first time in 442 years.
Portugal, the longtime colonial ruler, hands over power in the predominantly Chinese enclave Dec. 20, ending the era of western colonization in China and Asia.
Like nearby Hong Kong, a former British colony which reverted to Chinese rule in July 1997, Macau will become a largely self-governing ``Special Administrative Region.''
Ho pledged to ``resolutely implement the principle of 'one country, two systems','' which guarantees Macau autonomy, and would ensure ``a smooth transition and the stability and prosperity of Macau.''
Ho, 44, director and general manager of his family's Tai Fung Bank, was selected by a 199-member Selection Committee by secret ballot. The vote was 163-34, with two abstentions.
The selection process was the same as that used to choose Hong Kong's Chief Executive Tung Chee-hwa, a shipping magnate, who has been leading that former British colony since it reverted to Chinese sovereignty in July 1997.
``Today Macau people are electing their own leader,'' said Chinese Vice Premier Qian Qichen, who came from Beijing to preside over the election.
This will contribute to ``Macau's long-term stability and development,'' Qian said.
Ho commanded wide community support because of his late father's connections as well as his own consensus political style. His father, Ho Yin, was once dubbed ``Mr. Macau'' for dominating local politics for decades before his death in 1983.
Ho, who is also vice chairman of the 23-member legislature, is the only person from Macau in the Standing Committee of the National People's Congress, China's most powerful lawmaking body.
Ho now faces the daunting task of stamping out Chinese gangs, who are engaged in a bloody turf war that has claimed 15 lives so far this year. Gambling is the backbone of Macau's economy.
After his victory, Ho reiterated his promise to crack down on gang crimes, stem collusion between officials and powerful mobsters, and reform the gambling industry.
Antonio Ng, a leading pro-democracy lawmaker, said he worries the new leader could turn a blind eye to gang activities in exchange for peace and order.
``I realize this is a historic, deeply-rooted problem here, but we can't let them continue to expand their influence,'' Ng said.
Ho himself has admitted he might have done business with people with gang background, but insisted he had never done anything illegal.
To rein in the violence, China plans to station troops in the tiny enclave after the handover, an issue the two sides are still negotiating. Portugal says the plan violates an earlier understanding.
Negotiations between Lisbon and Beijing on the transition have been smooth in general.
State Department spokesman James P. Rubin said Friday that the United States supports the Sino-Portuguese agreement which guarantees Macau's autonomy.
The United States hopes the chief executive election ``will contribute to the stability of the transition,'' Rubin said.
Europe's oldest Asian colony to return to China (1999-05-17)Crime, economy to test Macau's anointed leader (1999-05-16)Chinese Banker Picked To Lead Macau (1999-05-16)Edmund Ho and Stanley Au Vie for Macau's Top Job (1999-04-24)Ho seen leading in Macau leadership race (1999-04-23)