Bilateral trade surges about 70% between Macau and Guangzhou

Despite the Covid-19 outbreak in 2022, the volume of bilateral trade between Macau and Guangzhou has surged by approximately 70%, with a total import and export volume of over RMB3.7 trillion, said Chen Yanchuan, the deputy director of the Bureau of Commerce of Guangzhou, in his speech on the Macau branch of the ninth Guangzhou Annual Investment Conference held yesterday.

He said that Macau has invested in 939 enterprises in Guangzhou with a real investment of USD867 million, while Guangzhou has invested in the establishment of 54 enterprises in Macau with an agreed investment of USD445 million.

During an interview, Duan Jinglun, vice president and chief strategy officer of Macao Juvenile Venture International, stated that Macau’s capital should be exported to the Greater Bay Area. He suggested that Macau can support the outstanding small- and medium-sized enterprises in Huangpu, Nansha, Shenzhen, and Dongguan in Guangdong, which lack funds, to build a Macau enterprise cluster by leveraging Macau’s rich capital and its industrial ties, as only a small proportion of Macau’s capital is invested in science and technology innovation.

Five cooperation projects were signed at the conference, including the Guangzhou-Macau intellectual property innovation service centre and the Greater Bay Area green and sustainable finance strategic cooperation. Staff reporter