Macao-Mainland Cooperation Develops Healthily

Economic cooperation between the Macao Special Administrative Region (SAR) and the inland area of China has stepped onto a path of healthy development, said an official with the Ministry of Foreign Trade and Economic Cooperation (MOFTEC).

Statistics provided by the General Administration of Customs and the MOFTEC show that the total trade volume between Macao SAR and the mainland was US$663 million in the first 10 months this year, up 13 percent from the corresponding period of last year.

Meanwhile, 323 Macao-invested projects were established in the mainland, with US$291 million of Macao investment already used. The two figures represented increases of 67.36 percent and 18.09 percent, respectively, on an annual basis.

The mainland signed 669 contracts with the Macao SAR for project construction, labor service and consultation service, with combined business turnover up to US$147 million.

In the January-October period, visitor arrivals to Macao numbered 7.62 million, up 24 percent from a year earlier. The number of visitors from the mainland to Macao increased by 41.5 percent in the 10-month period.

Media in Macao have reported that the fact that Macao's economy grew by four percent this year, compared with the negative growth in the previous four years, has much to do with the Macao-mainland economic cooperation and the mainland's support.

High-level economic and trade cooperation between Macao and the mainland has been enhanced since Macao's return to the motherland

on December 20, 1999.

At the invitation of the MOFTEC, Edmund Ho Hau Wah, chief executive of the Macao SAR, led a delegation attending the China International Investment and Trade Fair held in Xiamen in September this year.

Francis Tam Pak Yuen, secretary for economy and finance of the Macao SAR government, visited Beijing in October, and held discussions with MOFTEC officials on the establishment of a liaison system between the two sides.

At the same time, Macao has also increased cooperation with its neighboring provinces on the Chinese mainland. Fujian Province and

Macao SAR have worked out a plan for cooperation, which covers the establishment of a venture capital investment system, to encourage

Macao businessmen to invest in Fujian and promote bilateral cooperation in other fields.

In July, the chief executive visited Guangdong Province. The two sides stressed cooperation in building the Gaolan bonded processing zone and developing tourism on the Hengqin Island in Zhuhai.

Non-governmental exchanges have also been enhanced between the two sides. Since the beginning of the year, a group of non-governmental organizations have visited and attended large trade fairs held on the mainland. Many people from Macao's industrial and commercial circles have visited the western region since the central government launched a program to develop the west late last year.

Macao has played a more important role as a link between the Chinese mainland, the European Union and Portuguese-speaking countries after its return to the motherland one year ago.

A series of activities, including the Macao-Beijing International Business Conference and the visit to several African countries by a delegation of Macao and mainland entrepreneurs in November, have all promoted bilateral exchanges and investment between the mainland and Portuguese-speaking countries.

A MOFTEC official said that a solid foundation has been established for the economic cooperation between Macao and the mainland, which will make big strides forward in the future.






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