The Master Plan for the development of the Guangdong-Macau Intensive Cooperation Zone in Hengqin will make the land a testing ground for China’s new system of higher-level and an open economy, the SAR government described in a statement.
In addition, the Cooperation Zone will fully tap on the potential for institutional innovation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), make full use of the favorable factors of Macau and Zhuhai, create a new highland for the construction of the GBA, and lead the development of the surrounding areas.
The Master Plan “covers a wealth of innovative policies and measures, which will enable the Cooperation Zone to reach new heights for the construction of the GBA and lead the development of surrounding areas,” the Macau government stated.
The government added that the Cooperation Zone would break original constraints and barriers in order to actively promote system innovation and to synchronize with international high-level economic rules.
According to the authorization of the National People’s Congress and its Standing Committee, the government pointed out that relevant laws and regulations will be adjusted, suspended or modified to achieve it.
The government noted that the Cooperation Zone will be the first area in the GBA to have a system synchronized with both Macau and the world, realizing the efficient and convenient flow of personnel, goods, capital, and information.
The Cooperation Zone will use a collaborative promotion mechanism to combine Hengqin’s size and resourcefulness with the unique advantages of Macau’s “one country, two systems” background, separate customs areas, free international trade ports and connections with Portuguese-speaking countries. It will also help Macau achieve an “adequately diverse economy.”
Describing the Cooperation Zone as “a major historic opportunity, the government calls on all sectors of the Macau society to participate in the building of the area and transform the land into a strong and competitive zone that can position itself as a leading example of the GBA.”
CE invites Sichuan’s co-building Hengqin
In a meeting with Pang Qinghua, party secretary of Sichuan Province, Chief Executive (CE) Ho Iat Seng invited the province’s input on the development of Hengqin.
Hengqin has been set to transform into the Guangdong-Macau Intensive Cooperation Zone, which, according to the CE, is a “major decision planned, positioned and put forward by President Xi Jinping.”
To support his invitation, Ho explained that the cooperation between Macau and Sichuan has a reliable foundation. Meanwhile, potential for further cooperation is significant.
On the other hand, the province has been strong in developing traditional Chinese medicines. Cooperation between Macau and Sichuan in terms of improving quality and expanding development of the area should be sought.
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