Hengqin cooperation zone to help Macao diversify its economy

BEIJING, Sept. 9 (Xinhua) -- The Guangdong-Macao in-depth cooperation zone in Hengqin serves as a new platform and has brought new opportunities for the Macao Special Administrative Region (SAR) to promote a moderately diversified economy, an official with the SAR government said Thursday.

Macao's Secretary for Administration and Justice Cheong Weng Chon told a press conference there are new opportunities for developing Macao's signature businesses, such as traditional Chinese medicine.

With priority given to industries including integrated circuits, new materials, new energy, big data, and bio-medicine, the cooperation zone is also a boost for sci-tech research and high-end manufacturing, said Cheong.

He added that the Hengqin cooperation zone also benefits culture and tourism, conventions and exhibitions, and sports events. Measures will be rolled out to support Macao exhibition organizers to hold trade fairs in Hengqin and facilitate cross-border travel of participants.

Modern finance will also be promoted, with a focus on the development of bond markets, wealth management, and financial leases, said Cheong. A financial services platform between China and Portuguese-speaking countries will also be established.

China's central authorities on Sept. 5 made public a general plan for building a Guangdong-Macao in-depth cooperation zone in Hengqin, an area located in the southern part of Zhuhai city in Guangdong Province, adjacent to Macao.