Page 86 - 2023 Special Report on the State of Business in South China
P. 86
Hengqin New Area of Zhuhai 3. Expanding industries such as leisure vacation,
conferences and exhibitions, sports events and
Hengqin is an island located at the western tip of tourism as well as “big health” sectors like leisure
Macau and southern tip of Zhuhai. With an area of and wellness, rehabilitation and medical care.
106km2, the Hengqin Guangdong-Macau In-depth
Co-operation Zone covers the whole of the Hengqin 4. Playing to Macau’s role as a window to
island. Geographically, Hengqin falls within the Portuguese-speaking countries and developing
boundaries of Zhuhai, yet the co-operation zone a financial services platform linking up China and
will be managed by the Guangdong province as Portuguese-speaking markets. The Hengqin Plan
specified in the government plan. stipulates that assistance will be rendered to the
co-operation zone in launching cross-border
The GDP of Hengqin co-operation zone went up RMB settlement business, and encouraging and
by 8.5% YoY to RMB45.5 billion (US$7.2 billion) in supporting domestic and foreign investors to use
2021. Fixed-asset investments grew by 12.9% YoY RMB in cross-border venture capital projects and
during the same period, of note is that investments related investment and trade.
for education expanded by 76.2%, contributing to
its high-quality development24. Shenzhen Socialist Pioneering Demon-
stration Zone
On 6 September 2021, the government
announced the Overall Plan for Building Shenzhen has seen a rapid development since
Guangdong-Macau In-depth Cooperation Zone in the reform and opening up in 1979 and is now
Hengqin25. The plan defines the strategic position seeking to reinvent itself as the home of Chinese
of the zone as a new platform to boost Macau's innovation. Shenzhen's GDP grew 6.7% YoY in
appropriate economic diversification, a new space 2021, and the city's export volume has ranked
that provides convenience to Macau residents' first among the cities in Chinese mainland for 29
life and employment, a new model to enrich the consecutive years. The export hit RMB1.9 trillion, up
practice of “one country, two systems”, as well as a 13.5% YoY. Significantly, the output value of new-
new high ground for building the GBA26. energy vehicles, industrial robots, smartphones
and 3D printing equipment increased 173.9%,
Major efforts will be placed on expanding 60.5%, 40.9% and 21.2%, respectively27.
four industries:
According to the city’s outline for its 14th Five-Year
1. Fostering the growth of scientific and high- Plan (2021-2025) and long-term targets for 203528:
end manufacturing sectors like integrated circuits,
electronic components, new materials, new energy, • By 2022, the government will make
big data, artificial intelligence, internet of things important progress in the building of systems in
and biomedicine. all aspects, form a number of major institutional
achievements that can be replicated and
2. Developing trade in traditional Chinese popularized, and achieve phased results in the
medicine (TCM) services and a platform for pilot reform.
innovative TCM research and transformation
with self-owned intellectual property rights and • By 2025, the city's GDP will surpass
Chinese characteristics. RMB4 trillion and the added value of strategic
emerging industries reaching more than RMB1.5
24 Guangdong-Macau In-Depth Cooperation trillion. The government will accomplish landmark
Zone in Hengqin, http://www.hengqin.gov.cn/ achievements in the reform of important fields
25 The State Council, http://www.gov.cn/ and critical links, complete the tasks of the pilot
zhengce/2021-09/05/content_5635547.htm
26 The expansion plan for building Guangdong- 27 China.org.cn, http://www.china.org.cn/busi-
Macau in-depth cooperation zone, http://www. ness/2022-01/30/content_78020087.htm
chinadaily.com.cn/a/202109/05/WS6134a902a310e- 28 The government of Shenzhen, http://www.
fa1bd66d691.html sz.gov.cn/en_szgov/news/latest/content/post_8858253.
html
86
conferences and exhibitions, sports events and
Hengqin is an island located at the western tip of tourism as well as “big health” sectors like leisure
Macau and southern tip of Zhuhai. With an area of and wellness, rehabilitation and medical care.
106km2, the Hengqin Guangdong-Macau In-depth
Co-operation Zone covers the whole of the Hengqin 4. Playing to Macau’s role as a window to
island. Geographically, Hengqin falls within the Portuguese-speaking countries and developing
boundaries of Zhuhai, yet the co-operation zone a financial services platform linking up China and
will be managed by the Guangdong province as Portuguese-speaking markets. The Hengqin Plan
specified in the government plan. stipulates that assistance will be rendered to the
co-operation zone in launching cross-border
The GDP of Hengqin co-operation zone went up RMB settlement business, and encouraging and
by 8.5% YoY to RMB45.5 billion (US$7.2 billion) in supporting domestic and foreign investors to use
2021. Fixed-asset investments grew by 12.9% YoY RMB in cross-border venture capital projects and
during the same period, of note is that investments related investment and trade.
for education expanded by 76.2%, contributing to
its high-quality development24. Shenzhen Socialist Pioneering Demon-
stration Zone
On 6 September 2021, the government
announced the Overall Plan for Building Shenzhen has seen a rapid development since
Guangdong-Macau In-depth Cooperation Zone in the reform and opening up in 1979 and is now
Hengqin25. The plan defines the strategic position seeking to reinvent itself as the home of Chinese
of the zone as a new platform to boost Macau's innovation. Shenzhen's GDP grew 6.7% YoY in
appropriate economic diversification, a new space 2021, and the city's export volume has ranked
that provides convenience to Macau residents' first among the cities in Chinese mainland for 29
life and employment, a new model to enrich the consecutive years. The export hit RMB1.9 trillion, up
practice of “one country, two systems”, as well as a 13.5% YoY. Significantly, the output value of new-
new high ground for building the GBA26. energy vehicles, industrial robots, smartphones
and 3D printing equipment increased 173.9%,
Major efforts will be placed on expanding 60.5%, 40.9% and 21.2%, respectively27.
four industries:
According to the city’s outline for its 14th Five-Year
1. Fostering the growth of scientific and high- Plan (2021-2025) and long-term targets for 203528:
end manufacturing sectors like integrated circuits,
electronic components, new materials, new energy, • By 2022, the government will make
big data, artificial intelligence, internet of things important progress in the building of systems in
and biomedicine. all aspects, form a number of major institutional
achievements that can be replicated and
2. Developing trade in traditional Chinese popularized, and achieve phased results in the
medicine (TCM) services and a platform for pilot reform.
innovative TCM research and transformation
with self-owned intellectual property rights and • By 2025, the city's GDP will surpass
Chinese characteristics. RMB4 trillion and the added value of strategic
emerging industries reaching more than RMB1.5
24 Guangdong-Macau In-Depth Cooperation trillion. The government will accomplish landmark
Zone in Hengqin, http://www.hengqin.gov.cn/ achievements in the reform of important fields
25 The State Council, http://www.gov.cn/ and critical links, complete the tasks of the pilot
zhengce/2021-09/05/content_5635547.htm
26 The expansion plan for building Guangdong- 27 China.org.cn, http://www.china.org.cn/busi-
Macau in-depth cooperation zone, http://www. ness/2022-01/30/content_78020087.htm
chinadaily.com.cn/a/202109/05/WS6134a902a310e- 28 The government of Shenzhen, http://www.
fa1bd66d691.html sz.gov.cn/en_szgov/news/latest/content/post_8858253.
html
86
