![Aerial photo taken on Aug 18, 2020 shows the Hengqin Port in South China's Guangdong province, across Macao. [Photo/Xinhua]](https://beijingtimes.com/wp-content/uploads/2023/02/63fdffd7a31057c4b4b5f076.jpeg "63fdffd7a31057c4b4b5f076")
The Guangdong-Macao In-Depth Cooperation Zone in Hengqin has issued new measures to support the development of Macao-invested companies in the zone. The updated measures include subsidies and incentives for qualified Macao businesses, such as work space rental and decoration, introduction of Macao brands and related business operations, and research and development.
According to Fu Yongge, deputy director of the executive committee of the zone, the new measures are more targeted and effective than those previously implemented by the Hengqin New Area administration. These measures are set to help cut the operation costs of Macao businesses in the zone and boost the confidence of Macao people and businesses in their development.
The Guangdong-Macao In-Depth Cooperation Zone was established in 2010 as a result of the Closer Economic Partnership Arrangement between Mainland China and the Macao Special Administrative Region. It covers an area of 106.46 square kilometers and is located in Hengqin, a rapidly developing area in Zhuhai, Guangdong province.
The zone aims to promote cooperation and exchange between Guangdong and Macao in various fields, including trade, finance, tourism, and education. It also provides a platform for Macao businesses to expand their operations in Mainland China and enhance their competitiveness in the global market.
Since its establishment, the zone has achieved significant progress in attracting investment from Macao businesses. As of the end of 2021, there were more than 1,800 Macao-invested companies registered in the zone, with a total investment of over 110 billion yuan.
The new measures announced by the Guangdong-Macao In-Depth Cooperation Zone are expected to further enhance the cooperation and exchange between Guangdong and Macao, and provide more opportunities for Macao businesses to develop in Mainland China. It is hoped that this will contribute to the economic development and prosperity of the region as a whole.
Read More: