Macau, Hainan to make better use of free-trade port advantages

Macau Chief Executive Ho Iat Seng yesterday discussed with officials of the local government in Hainan how to boost bilateral ties via advantages arising from the free-trade port policy of Hainan, .
Ho, who is in Sanya City, Hainan Province, met yesterday with the Secretary of the Hainan Provincial Committee of the Communist Party of China, Liu Cigui, with whom he exchanged views on how to strengthen cooperation in economic and trade matters, tourism and cultural affairs.
Ho said in the meeting that Hainan’s strategy for developing its economy was a reference point for Macau in terms of economic diversification.
The Covid-19 pandemic had clearly revealed problems regarding Macau’s over-reliance on a single economic sector, he said. The Macau government’s intent to pursue economic diversification strategies could benefit from closer ties with partner cities from the mainland, according to Ho.
The Macau Chief Executive also pointed out that the free-trade port policy was a fresh initiative for the country and a unique opportunity for Hainan.
Liu then briefed the Chief Executive on the economic achievements of Hainan in recent years and effort in accelerating local development as a free-trade port.
Both officials agreed that Hainan and Macau would work closer in order to make better use of the favorable conditions created under the free-trade port policy – which was put forward by President Xi Jinping and was designed only for Hainan.
Ho is visiting Hainan for the 2020 Pan-Pearl River Delta Regional Cooperation Executive Chiefs Joint Meeting, which takes place today. The Macau SAR delegation arrived in Sanya City on Wednesday and visited the Yazhou Bay Science and Technology City and Sanya International Duty-free Complex. DB