BEIJING – Macau’s economic and trade exchanges and cooperation with the mainland have been deepened, improved and expanded since the region’s return to the motherland 25 years ago, the Ministry of Commerce (MOC) said yesterday.
Trade between the mainland and Macau totalled US$3.84 billion in 2023, a 4.3-fold increase over volumes recorded before its return to the motherland, MOC spokesperson He Yadong said at a press conference in Beijing.
By October 2024, the mainland had absorbed US$23.93 billion of direct investment from Macau, and Macau had received US$14.19 billion of direct investment from the mainland.
By signing the Closer Economic Partnership Arrangement (CEPA) and its series of follow-up accords, the mainland has achieved full trade liberalisation in goods and basic liberalised trade in services with Macau, He said.
In October this year, the mainland and Macau signed an updated version of CEPA, aiming to lower or cancel the entry threshold for the region’s services providers in key areas such as medical care, finance, innovation, tourism, and science and technology.
The ministry will continue to support Macau in developing its economy, improving its people’s livelihoods, and integrating itself into the overall development of the country in an improved manner, He noted. – Xinhua, MPD
Logo of the Ministry of Commerce (MOC) in Beijing
