Macau leader Ho Iat-seng announced on Wednesday that he would not seek a second term as Chief Executive, citing health issues.

The decision comes after he spent more than a month on leave from the top job last month and raised eyebrows among the gaming hub's political circle.

"I have profound feelings for Macau and have done my utmost for Macau’s development," Ho said in the statement. "... but due to the fact that my health has not been fully restored, for the sake of Macau’s long-term development and from the perspective of the overall situation, I have decided not to participate in the election for the sixth-term Chief Executive."

Ho also thanked the central government, Macau societies, and residents for their trust and support over the past five years.

"I will fully support the sixth Chief Executive and the Macau SAR government in governing according to law and in their continued contribution to the cause of “One Country, Two Systems” and the development of Macao," he added.

Ho is also the first Macau Chief Executive to announce not to run for re-election after the handover of the gambling hub.

Macau's leader for the next five years will be elected on October 13.

Entrepreneur Jorge Chiang – head of the Macau Institutionalism Association and the Macau Lotus Commerce Association – has declared his intention to stand as a candidate.

Chiang will need to secure enough nominations from the CE election committee members before he can officially become a candidate. He said Macau needs to demonstrate more boldness to “innovate” and to “start afresh” while he would establish a responsible and clean government, in a society governed by the rule of law, putting people first.

Macau Chief Executive Ho Iat Seng announces withdrawal from next election