Hengqin and Hainan possible model zones for Greater Bay Area innovation – CE

Chief Executive Ho Iat Seng has stated today (Friday) that he hopes Hengqin and the Hainan free trade port area could jointly create a pilot and model zone for innovation in the Pearl River Delta.

Ho is currently attending the 2020 Pan-Pearl River Delta Regional Cooperation Executive Heads Joint Meeting in Sanya, Hainan, which brings together the governments of nine provinces – Fujian, Jiangxi, Hunan, Guangdong, Guangxi, Hainan, Sichuan, Guizhou, Yunnan – and the two SARs.

The CE considered that at a time when prevention and fight efforts of the Covid-19 pandemic in China have achieved important results, and as the national economy has shown a stable trend and signs of improvement, holding this meeting is ‘extremely significant’ for the members of the Greater Bay Area as a way to promote economic and social recovery through regional cooperation.

2020 Pan-Pearl River Delta Regional Cooperation Executive Heads Joint Meeting this morning

On June 1, 2020, Chinese authorities released the Overall Plan for the Construction of Hainan Free Trade Port, a large-scale plan to transform the entire island province into a free trade port, making it the largest special economic zone in China.

The Macau SAR head of government considered that the Hainan free trade port will serve as a reference for the construction of the deep cooperation zone between Guangdong and Macau in Hengqin, namely in the implementation of some policies

Ho also underlined that with the resumption of the policy of individual visas for residents of Mainland China for trips to Macau on September 23, the SAR is ready to receive tourists.

The CE also held meetings with the governors of the Fujian and Jianxi provinces, to discuss improvement sin business and research cooperation.

During his meeting with the governor of Jiangxi Province, Yi Lianhong, both parties hoped to expand the space for collaboration in the fields of traditional Chinese medicine, tourism, science and technology and education, among others.

Ho also stressed that Macau has advantages in the area of ​​funds and capital, and since the development of the local financial sector is one of the directions of the Central Government for the Macau SAR, companies and the government of Jiangxi can take advantage of the Macau market as a bond issuance channel.

Meeting with Fujian province governor Wang Niang

The Jiangxi governor indicated that in the past the number of projects that Jiangxi managed to initiate from Macau encompasses more than 300 areas, and hoped that both parties could deepen the exchange in the areas of culture, education, tourism, among others.

Similar topics were addressed during Ho’s meeting with the governor of Fujian, Wang Ning, with Ho highlighting that there are many countrymen from Fujian in Macau who have been contributing to the general development and political stability of the SAR.

With Fujian considered one of the main bases for the Chinese government ‘One belt, One Road’ initiative, a joint cooperation between the two territories will be promoted to organize business trips to countries and regions included in the initiative in order to start investment and trade activities.

Wang Ningsuggested for the Macau authorities to consolidate and deepen economic cooperation and existing trade fairs, the organization of more Fujian companies to travel to Macau to participate in international investment fairs and professional exhibitions, and that more entrepreneurs from Macau go to Fujian for investment and development actions.