Plan set for cooperation zone

Aerial photo taken on May 23, 2018 shows Zhuhai Hengqin International Financial Center (front) under construction and Hengqin new area financial island in South China's Guangdong province. (Photo/Xinhua)

New Guangdong-Macao platform to boost economy, build momentum

The new cooperation zone between Guangdong province and the Macao Special Administrative Region aims to help Macao nurture a more diversified economy and offer the SAR's residents an ideal living space, according to the zone's general plan, which was issued on Sunday.

The plan, which was issued by the Communist Party of China Central Committee and the State Council, China's Cabinet, designated an area of 106 square kilometers on Hengqin Island of Zhuhai, Guangdong, to be the new zone for in-depth collaboration with Macao.

The document defines the strategic position of the zone as a new platform to boost Macao's economic diversification, a new space for Macao residents to live and work, and a new model to enrich the practice of "one country, two systems", as well as new ground for building up the Guangdong-Hong Kong-Macao Greater Bay Area.

The plan stipulates that by 2035, the zone's economic strength and technological competence will be greatly enhanced, with an efficient public service system and a better collaboration mechanism between Hengqin and Macao. The new zone's mission of promoting Macao's economic diversification will also be basically fulfilled.

The plan proposes to develop scientific and technological research and high-end manufacturing in the zone, highlighting industries such as integrated circuits, electronic components, new materials, new energy, big data, artificial intelligence, the internet of things and biomedicine.

The zone will also be a hothouse for traditional Chinese medicine, tourism-related industries and the finance industry. Tax deductions will be offered to qualified enterprises in the highlighted industries, as well as high-end and urgently needed talent.

The authorities also pledged to offer various measures to attract Macao residents, especially professionals with overseas experience and young people, to work and live in the zone.

To make Macao residents' lives in the zone more convenient, the region will offer thousands of apartments to Macao residents and provide Macao-style education, medicine and other public social service systems.

The region's transportation connection with Macao and other parts of the Zhuhai area will also be further strengthened.

In addition, the plan includes detailed arrangements for the flow of goods, people, capital and data between the zone and Macao. It also sets forth the collaboration and communication mechanism between Guangdong and Macao for the zone's management, as well as measures to ensure smooth collaboration.

In separate statements, the Macao government and the central government's liaison office in Macao welcomed the plan, saying it will inject new momentum into the SAR's long-term development.

Hengqin has long been a role model for Guangdong-Macao collaboration. It is the mainland's most concentrated area of Macao-invested enterprises, with 3,290 such companies registered before January of this year.