Chief Executive Ho Iat Seng said yesterday that Macau will strive to enhance its position and function in the country’s economic development and external openness, using Macau’s strengths to contribute to the construction of a world-class prosperous Greater Bay Area (GBA) and sharing high-quality development opportunities.
According to a statement by the Macau Government Information Bureau (GCS), Ho made the remarks during a speech he gave via video for the two-day Second Business Conference on Guangdong-Hong Kong-Macau Greater Bay Area Development, which ends in Hong Kong today.
Ho noted that the development of the Greater Bay Area is a pioneering and exploratory undertaking under the conditions of “One Country, Two Systems”, three currencies – renminbi, Hong Kong dollar and patacas – and three separate customs territories. “The third plenary session of the 20th Central Committee of the Communist Party of China (CPC) held in July passed a series of strategic and comprehensive major reform measures, providing important guidance for further deepening cooperation in the Greater Bay Area,” he said.
Ho also said that the conference, an initiative of the China Council for the Promotion of International Trade (CCPIT), is an important business event themed around the construction of the Greater Bay Area. He pointed out that the conference has been coordinated by the Guangdong, Hong Kong and Macau governments. This edition of the conference, themed “Development of the Greater Bay Area in China to Provide Opportunities for the World”, focuses on the industrial advantages of the three regions, discussing how to further leverage economic synergies, align with international high-standard economic and trade rules to help domestic and foreign business communities understand and explore the existing good foundations and development potential of the Greater Bay Area.
The Greater Bay Area comprises the two special administrative regions of Hong Kong and Macau, as well as the nine cities of Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai in Guangdong Province, covering a total area of around 56,000 square kilometres (about the size of Croatia) and a population of 86 million (similar to Germany’s).
Ho noted that Macau and its sister cities in the Greater Bay Area are geographically close, interconnected, and share common aspirations. Moreover, Ho said, Macau, with its blend of Chinese and Western cultures and unique advantages as a platform of China and Portuguese-speaking Countries (PSCs), enjoys the advantage of being a free port and separate customs territory.
The Macau Special Administrative Region is a member of the World Trade Organisation (WTO) and the World Customs Organisation (WCO).
Ho also underlined Macau’s development strategy based on the concepts of “1+4” and “One Centre, One Platform and One Base”, with the aim of achieving the appropriate diversification of its economy, better integrating itself into the national development landscape and serving the development of the Greater Bay Area.
According to previous statements by the local government, the “1+4” strategy aims to reinforce Macau’s function as “One Centre” for integrated tourism and leisure, officially known as the World Centre of Tourism and Leisure, while facilitating the development of four emerging industries: big health; modern financial services; high-tech; and conventions, exhibitions, sports, and the commercial and trade industries.
The government’s “One Centre, One Platform and One Base” policy refers to its resolve to further strengthen Macau’s role as a World Centre of Tourism and Leisure, an economic and trade cooperation platform for China and the Portuguese-speaking countries, and a cultural exchange and cooperation base, according to previous local government statements.
Chief Executive Ho Iat Seng delivers a speech by video link yesterday for the two-day Second Business Conference on Guangdong-Hong Kong-Macau Greater Bay Area Development hosted by Hong Kong. The conference ends today. – Photo: GCS
