New in-depth cooperation zone to diversify Macao's economy

The establishment of the Guangdong-Macao in-depth cooperation zone has created a new development platform and opened up fresh opportunities for the moderate and diversified economic development of Macao, officials said on Thursday.

A series of scientific infrastructure facilities will be set up in the zone and a catalogue of encouraged industries will be released soon, said Cong Liang, vice-chairman of the National Development and Reform Commission and vice-chairman of the office of the leading group for the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Considering Hengqin's development, Macao's industrial strengths and the expectations of the Macao community, the plan is dedicated to supporting Macao's development of four major industries in the zone: technological research and development and high-end manufacturing; Chinese medicine and other Macao-branded industries; cultural tourism, exhibition and trade; and modern finance, Cong said.

Guangdong, Macao and relevant authorities will further elaborate the catalogue of industries to be encouraged in the zone, to promote the diversified development of Macao's economy, Cong added.

The announcement of the plan is an important deployment to implement the spirit of President Xi Jinping's instruction, a major initiative to support the moderate and diversified development of Macao's economy and to enrich the practice of "one country, two systems". It will inject new motivation, provide new space and create new opportunities for the long-term development of Macao, said Cheong Weng Chon, Macao's secretary for administration and justice.

The zone will become a new platform to promote the moderate and diversified development of Macao's economy, a new space to facilitate the livelihood and employment of Macao residents, a new model to enrich the practice of "one country, two systems", and a new high ground to promote the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, Cheong said.