Shanghai willing to take part in bid to diversify Macau

The city of Shanghai is willing to play its part in responding to the central government’s call to diversify Macau’s economy through the development of projects in Hengqin intensive cooperation zone. The Chairman of the Council for the Promotion of International Trade of Shanghai, Zhou Minhao, made the pledge in a recorded speech presented at the press conference of the 26th Macao International Trade and Investment Fair (MIF).
“Over the recent years, Macau has made great achievements in the application of the ‘one country, two systems’ policy, and this September the State Council has rolled out the plan for the Macau and Guangdong intensive cooperation [zone] in Hengqin island. Shanghai is very much willing to take part in this opportunity,” Zhou said. He added that the participation of Shanghai as “Partner City” of this year’s event represents the first real project under the cooperation agreement between the two cities.
Zhou recalled that, in June this year, when Chief Executive (CE) Ho Iat Seng toured Shanghai, he met with the city’s Mayor, Gong Zheng. The two agreed at the time on establishing cooperation in several fields, especially in the sector of meetings, incentives, conferences, and exhibitions (MICE), a traditional strength of Macau.
“In June this year the CE, Ho Iat Seng, and our Mayor took part in the first meeting of the Shanghai-Macau cooperation, where they … talked about the possible cooperation in the MICE industry and the upcoming MIF. This will be the first important moment of our cooperation,” Zhou remarked. He explained that the Chinese megapolis has experience in organizing exhibitions and conventions reaching back to 1918, when the first such company was created, and now has a sector comprising over 100 companies.
Speaking about the Shanghai exhibition pavilion at MIF, the chairman said it will focus mainly on science and innovation projects, as well as those in investment, MICE, creative industries, and the travel Industry.
“We will focus on these matters both online and offline, as we will have 16 exhibitors [from Shanghai] coming to Macau [to present their products and services],” he said.
As Zhou mentioned, this will be the first endeavor under the new cooperation agreement between Shanghai and Macau that the city hopes will expand and identify new opportunities within the new Hengqin intensive cooperation zone.
The president of the Macao Trade and Investment Promotion Institute (IPIM), Benson Lau, said in his speech that the city of Shanghai had been invited as the partner city for this year’s MIF “to deepen the cooperation between Shanghai and Macau on multiple fronts: as an established economic, financial, trade, freight, and scientific innovation hub at home and abroad.”
Besides the “Shanghai Pavilion,” where the city will showcase its industries, products, and services, the two cities will also co-host the International Trade and Investment Forum, themed “Modern Service Industry Empowers the Transformation of Scientific and Technological Innovation Achievements.”
The Trade and Investment Forum this year invites experts in finance, science, and technology, as well as other fields, to share insights and updates with local companies.