Macao to hold on 10 September press conference on Master Plan for Intensive Cooperation Zone in Hengqin

The Macao Special Administrative Region (MSAR) Government will study in-depth, gain serious understanding of, and implement comprehensively the aspirations and requirements outlined in the Master Plan for the Development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin.

Following the publication of the Master Plan by the Central Government, on Sunday (5 September), the State Council Information Office will hold a press conference in days. The MSAR Government will hold a press conference on Friday (10 September), and the Guangdong Government will also hold a press conference, in order to promote to the community details of the major initiatives outlined in the Master Plan.

The Master Plan defines the Cooperation Zone in Hengqin as a new platform to promote Macao’s adequate economic diversification. Macao has been suffering restrictions from the limited space for development of its industries, and an insufficient number of talented individuals. The Cooperation Zone in Hengqin will provide further space and opportunities for Macao to promote its economic diversification effort. In addition to aligning with the country’s 14th Five-Year Plan, while taking into consideration Macao’s practical situation, the Master Plan outlines the great efforts that will be made to develop new technologies, new industries, new forms of business and new economic models, giving new impetus to Macao’s long-term development.

Great effort will be put into promoting nascent industries, in order to facilitate Macao’s long-term development: scientific and technological research and high-end manufacturing industries; traditional Chinese medicine; cultural tourism, convention and exhibition; commercial and trade industries; and modern financial industry.

The Master Plan defines the Cooperation Zone in Hengqin as a new space for Macao residents to live and work. The Cooperation Zone will be developed to align with Macao’s public services and social security system, for the convenience of Macao residents – especially younger generations – so that they can respectively study, work, set up businesses and live in the Cooperation Zone, creating an environment similar to Macao, and which is favourable for living in and working in.

The Master Plan defines the Cooperation Zone in Hengqin as a new paradigm to enrich the practice of “One country, two systems”. The Cooperation Zone will be based on the foundations of “One country” and make use of the advantages of “Two systems”; thus exploring a new path, and setting a new example, for implementing the “One country, two systems” principle. The Cooperation Zone – while complementing Macao’s strengths enjoyed under the “One country, two systems” principle, as a separate customs territory and as a global free port, and the city’s extensive network for external connection – will explore new systems, new mechanisms, and new models for cooperation that will transform itself as a high-level opening up area featuring both of Chinese characteristics and the advantages of “two systems”.

The Master Plan defines the Cooperation Zone in Hengqin as a new high ground for promoting development of the Guangdong-Hong Kong-Macao Greater Bay Area (“Greater Bay Area”). The Cooperation Zone will fully explore the potential of the Greater Bay Area in systems innovation, in terms of making breakthroughs in development relative to technologies, talent, and the flow of capital and information. Such steps would help complement the effort to develop new system for higher-level open economy that matches with those of Macao and aligns with international criteria.

The Cooperation Zone will be jointly managed by Guangdong and Macao under a new model of mutual discussion, joint construction, joint administration and shared benefits. Great effort will be made to speed up enhancement of the Cooperation Zone’s comprehensive strength and competitiveness, and strongly to support the leading effect on the Greater Bay Area of the Macao-Zhuhai pole, in order to facilitate and accelerate the development of the western estuary of the Pearl River.

The Greater Bay Area is a national initiative that President Xi Jinping has planned for, made decisions on, and promoted in person. Developing the Cooperation Zone in Hengqin is a paramount step to advance the implementation of the “One country, two systems” principle, providing opportunities for comprehensive deepening of reform and for high-level opening up of the economy. Such steps will be beneficial for Macao in ensuring its long-term prosperity and stability, and facilitating the city’s closer integration with overall national development.

President Xi has highlighted that the original intention of developing Henging new area is to create a favourable environment for Macao’s industrial diversification. The main approach for the Cooperation Zone in Hengqin outlined in the Master Plan is to facilitate diversification of Macao’s industry, along with a set of four strategic positions in order to realise such a goal.

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