The Macao Special Administrative Region (MSAR) is pushing forward its appropriate economic diversification effort and is looking forward to joining hands with partners in the Pan-Pearl River Delta (PPRD) Region, in order to advance the development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin.
The Chief Executive, Mr Ho Iat Seng, delivered a speech at the 2023 PPRD Regional Cooperation Chief Executive Joint Conference held in Guiyang municipality, capital of Guizhou Province. The Joint Conference had as its theme “Embark on new journey and pursue new prospects through cooperation”.
Mr Ho said President Xi Jinping’s relevant speeches in the report of the 20th National Congress of the Communist Party of China (CPC) had laid a clear path for the development of Macao. The MSAR has been devoting its utmost effort to: realising the spirit of the 20th CPC National Congress report; implementing President Xi's important speeches and instructions relating to the MSAR; and actively promoting initiatives mentioned in the country’s 14th Five-Year Plan, to support Macao’s work to consolidate and enhance its competitive advantages, and better integrate into overall national development.
The MSAR Government had been effectively implementing the city’s Second Five-Year Plan for Economic and Social Development (2021-2025); and adopted a "1+4" approach for appropriate diversification of the local economy. The strategy aimed to enrich Macao’s function as “One Centre” for integrated tourism and leisure activities, while facilitating the development of four nascent sectors, namely the “Big Health” industry; modern financial services; high and new technology; and convention and exhibition, sports, and the commercial and trade industries.
The Chief Executive gave additional insights on the “1+4” strategy. Regarding the “Big Health” industry, Macao was positioned to develop as one of the country’s centres for medical matters, serving the Guangdong-Hong Kong-Macao Greater Bay Area and nearby areas.
To align with the law on pharmaceutical enterprise related to traditional Chinese medicine and the registration of proprietary Chinese medicines, further effort was being made to optimise the operation model of the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation Between Guangdong and Macao. This was with a focus on development of traditional Chinese medicine classic-prescription pharmaceuticals; traditional Chinese medicine testing and certification; transformation from pilot testing; manufacturing; and other matters.
Regarding development of modern financial services, the focus was on the bond market, wealth management, financial leasing, renminbi clearance, private equity funds, and promotion of cross-boundary transfer of ‘green’ financial assets.
As for the development of scientific and technological innovation and technology-related industry, Macao would spare no effort to promote its four State Key Laboratories in undertaking the national strategic tasks assigned to them in their respective fields. Macao would also take part in the development of the “science and technology innovation corridor” within the Greater Bay Area. Meanwhile, Macao would strengthen scientific and technological cooperation between China and Portuguese-speaking countries, and advance a "China-Portuguese Science and Technology Centre", in order to encourage projects from Portuguese-speaking countries to have a presence in Macao, the Cooperation Zone in Hengqin, or in other parts of the Greater Bay Area. Such presence would in turn gradually cultivate the presence of high-tech enterprises, and attract a great number of talented people in high-tech fields – drawn from within the country and from overseas – to settle in Macao.
Mr Ho also referred to President Xi’s letter of congratulation regarding the successful launch of the ‘Macao Science 1’ space exploration satellite. Such gesture of encouragement brightened the prospects for researchers at Macao higher-education institutions, and for local scientists.
In tandem, as Macao actively prepared for the next edition of the Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries, more effort would be made to support members of the PPRD Region to enhance exchanges with Portuguese-speaking countries. The MSAR Government would explore the possibility of organising PPRD Region delegations to visit Portuguese-speaking countries for investment promotion events, added Mr Ho.
Mr Ho also talked about the development of the Cooperation Zone in Hengqin, an important platform for Macao to participate in the advancing the Greater Bay Area, and to integrate into national development. In order thoroughly to implement the important instructions from President Xi – on joint cooperation concerning Hengqin – the MSAR Government and the Guangdong Government had been working closely together. After a year of hard work, the Cooperation Zone had seen progress, with the introduction of a series of policies and measures. These included the Regulation for Promoting Development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin, the "Double 15 percent" tax incentive policy, the overall development blueprint, and the promulgation of the list of industries that were to be encouraged.
Regarding innovative cross-boundary financial policies for the Cooperation Zone, effort was being made to encourage the development of a bond market, and to expand the opportunity for cross-boundary operations of Macao-funded financial institutions. A “Cross-boundary Wealth Management Connect Scheme” had been implemented in a smooth manner. Effort would be made to speed up the implementation of polices favouring the integrated-circuit industry, and to coordinate investment promotion work on metaverse-related technology and industry.
Mr Ho called on Macao’s PPRD Region partners to play an active part in the multifaceted development of the Cooperation Zone.
In concluding his speech, Mr Ho said the MSAR would work closely with its PPRD Region partners, in relation to: giving better play to Macao’s inherent strengths; serving better the development of the Greater Bay Area and the PPRD Region; and in continuing to advance Macao’s role in serving China and Portuguese-speaking countries. Macao would continue to support PPRD Region partners in enhancing their exchanges with Portuguese-speaking countries, and in jointly promoting the high-quality development of various cooperation projects.
Following the meeting, participants in the 2023 PPRD Regional Cooperation Chief Executive Joint Conference signed a summary of the minutes relating to the matters discussed.
The Joint Conference is a platform launched in 2004 for regional cooperation between the nine provinces and two SARs – collectively known as the “9+2” – located in the PPRD Region, namely: Fujian; Jiangxi; Hunan; Guangdong; Guangxi; Hainan; Sichuan; Guizhou; Yunnan; the Hong Kong SAR; and the MSAR.
