Traditional Chinese Medicine Industrial Park spearheads Hengqin-Macau cooperation
2015-April-2 Source:
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The Traditional Chinese Medicine Science and Technology Industrial Park was first set up in Hengqin by Macau in 2011, and it has raised great concern. With the support of both Guangdong and Macau, contracts for 10 projects in the park have been signed.

"We want the State Administration of Traditional Chinese Medicine to help us promote project research and development, especially in terms of setting international standards. Also, the combination of the industrial park, the state key laboratory and the traditional medicine center to be set up by the World Health Organization is bound to advance the pharmaceutical industry in Macau," said Fernando Chui Sai On, Macau's chief executive.

Last year Macau experienced a decline in its gambling industry, so its economic diversification is extremely urgent. "We'll promote long-term economic development and strengthen regional cooperation, especially cooperation with Guangdong. In this way, small and medium enterprises in Macau can have more chances in the future," Chui Sai On said.

To celebrate the 15th anniversary of Macau's return to China, Hengqin port, which connects the Chinese southern coastal city of Zhuhai with Lotus Port in Macau, extended its customs services in 2014 to allow visitors and merchants to cross the border 24 hours a day. "The Hengqin Free Trade Zone has been formally set up, and more Macau companies will be introduced to it. The extension of customs clearance services is bound to play a significant role," remarked Liu Yiliang, Macau's deputy to the National People's Congress and president of the Association of Returned Overseas Chinese, Macau.

A total of 11 policies have been introduced to promote moderate economic development in Macau, and 213 enterprises from Macau have settled in Hengqin since the Hengqin New Area was set up five years ago. The Guangdong FTZ was approved last December, bringing Hengqin additional opportunities.

The Hengqin FTZ reform policies and preferential policies will also give impetus to the development of Macau. Furthermore, the opening of the Hong Kong-Zhuhai-Macau Bridge in 2017 will greatly improve the international influence and competitiveness of Hong Kong-Zhuhai-Macau as an international metropolitan area.

Additionally, the Guangdong-Macau Comprehensive Cooperation Pilot Zone was also established in Zhongshan County, Guangdong Province. Policies allowing deregulated yacht travel between Zhongshan and Macau for private individuals, the first policies of their kind in China, are also expected to be approved mid-year.


Editor: Will
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