To date, 1,388 Macao enterprises with combined capital of $13.1 billion have located in Hengqin New Area thanks in great part to Guangdong-Macao Cooperation Industrial Park.
Of the projects, 33 have been granted commercial land for business services, leisure tourism, cultural creativity, medical and health care, special finance, science education, R&D, warehousing, and logistics.
The investment from Macao stems from the Framework Agreement on Cooperation Between Guangdong & Macao that was signed in March 2011. The arrangement taps into Hengqin's potential and promotes coordinated industry development.
Research Headquarters of TCM at Science & Technology Industrial Park of Cooperation Between Guangdong & Macao [Photo by Mo Haihui / Zhuhai Daily]
The first outcome was the Traditional Chinese Medicine (TCM) Science & Technology Industrial Park of Cooperation Between Guangdong & Macao. It was agreed to in April 2011 and is run by a company set up by Macao and Hengqin. Its first phase of public service, including a GMP (Goods Manufacturing Practice) pilot production base, R&D and test building, and research headquarters are now operational. Meanwhile, an incubation area is almost ready. According to a manager, the park's 108 companies include 26 from Macao.
Guangdong-Macao Cooperation Industrial Park, which includes the TCM park, has contracted 27 projects, 22 that have been given land, and expects a total investment of 75.3 billion yuan ($10.9 billion). Initial completed projects include a health care and leisure resort, logistics center, biomedicine base, and commercial plazas.
The Hengqin New Area Administrative Committee expects to add more than 30 projects at Guangdong-Macao Cooperation Industrial Park by the end of 2019. Support will continue to prioritize TCM, tourism and conventions, special finance, cultural creation, and new and high-tech industries.
Local officials revealed joint attempts by Macao and Hengqin to build a big data exchange center, offshore data center, and "next generation" internet fund to form a modern industrial cluster on the west bank of the Pearl River.