As the Guangdong-Macao In-Depth Cooperation Zone in Hengqin celebrates its third anniversary, significant strides have been achieved in economic development, employment, social security, and cross-border flow, among other areas.
In a series of impressive milestones, Hengqin's role as a catalyst for economic integration and innovation within the Guangdong-Hong Kong-Macao Greater Bay Area has been highlighted. The Cooperation Zone has witnessed a remarkable 20.1% increase in "four new" industry enterprises (sci-tech research and high-end manufacturing; traditional Chinese medicine; cultural tourism, convention and exhibition, and modern finance), reaching 17,061 as of June 2024. This sector, encompassing new technologies, industries, business forms, and models, contributed a staggering 11.78 billion yuan to the regional GDP in the first half of 2024, representing a 6.4% year-on-year increase. The substantial growth in business entities with physical addresses, now accounting for 38.8% of the total, also signifies a robust and active business environment.
The Cooperation Zone has also provided employment opportunities and sound social security services to residents in the area. The zone has offered employment opportunities to more than 5,000 Macao residents and incubated 428 Macao projects through its youth innovation and entrepreneurship bases. The recent allocation of 472 subsidized rental housing units addresses the housing needs of young professionals, ensuring a supportive living environment. Additionally, over 25,000 instances of public medical services have been provided to Macao residents. The successful operation of the Hengqin Hospital affiliated with Guangzhou Medical University and the integration of medical services with Macao's health system have provided residents with accessible and high-quality healthcare.
The implementation of the segregated management policy on March 1, 2024, has facilitated the smooth flow of people, vehicles, and goods across the border. The Cooperation Zone has seen over 9.3 million people and 1.03 million vehicles clear Hengqin Port, with approximately 892,000 Macao residents enjoying fast clearance through the new home channel (a channel designated for Macao residents).
Reporter | Chua
Poster | Mia
Editor | Nan, Monica, James
