In the Macau-Hengqin Youth Entrepreneurship Valley, a space where many young entrepreneurs from Macau chase their dreams, the aroma of coffee mingles with the smell of rain-kissed grass.
From Lei Zhen’s office at Nanometals Technology, the view stretches from Hengqin’s landmarks to Macau’s glittering skyline. Lei founded Nanometals in Zhuhai in 2014, focusing on innovative applications of new materials, with nano silver wire as the core product.
Hengqin, located just across the river from Macau, is home to the Guangdong-Macau In-depth Cooperation Zone, which was established in 2021 by the Chinese central government to foster closer integration between the two regions. The zone has become a hub for innovation and entrepreneurship, hosting nearly 6,500 Macau-invested enterprises and providing a platform for new industries.
In 2018, Lei’s project won global acclaim, taking first place in a prestigious startup contest. Three years later, Nanometals relocated to Hengqin, seizing opportunities in the cooperation zone.
“Moving our headquarters to Hengqin made connecting with Macau much easier and significantly improved our operational efficiency,” Lei said. With support from the Guangdong-Hong Kong-Macau Greater Bay Area’s manufacturing ecosystem, his company scaled up the production of flexible touch-screen materials – breaking foreign monopolies in this field.
Macau will mark the 25th Anniversary of its return to the motherland on Friday. Since its return, the central government’s strong support, coupled with active integration into the Chinese mainland, has transformed Macau into a modern, international metropolis, achieving remarkable progress in both economic development and people’s livelihoods.
In tandem with this transformation, Macau has deepened its exchanges and cooperation with the mainland, becoming an integral part of China’s broader development agenda and contributing to the cause of Chinese modernization.
Just over two months ago, the Macau Bridge, a new eight-lane bridge connecting the Macau Peninsula to Taipa, officially opened to traffic. This is the fourth cross-sea bridge to connect the two areas and it has greatly improved the flow of people and goods, enhancing the region’s economic vitality.
Before its return to China, Macau’s infrastructure was relatively underdeveloped. However, iconic city landmarks such as a Light Rapid Transit system and cross-sea bridges have since become symbols of its modernization. In 1999, Macau’s GDP stood at 51.9 billion patacas. By 2023, it had skyrocketed to nearly 379.5 billion patacas. Meanwhile, by the end of last year, the total savings of Macau residents had surpassed 700 billion patacas – an eightfold increase compared to 1999. Over the past 25 years, Macau has become one of Asia’s wealthiest cities.
While its economy has grown steadily, Macau has also gradually diversified its industries, moving beyond its reliance on the casino sector. With the central government’s support, Macau has embraced a more diversified, balanced and sustainable economic structure.
“During the past 25 years, Macau has made remarkable strides under the ‘One Country, Two Systems’ framework,” said Ho Iat Seng, chief executive of the Macau Special Administrative Region (MSAR), noting that the proportion of key industries contributing to economic diversification has steadily increased – making the economy more resilient and diversified.
Notably, Macau’s tourism sector has played a considerable role in its economic transformation. With its rich blend of Chinese and Western cultures, a diverse culinary scene, and unique architectural styles, tourism has become a vital part of Macau’s economic diversification. The MSAR government has been working to showcase Macau’s appeal, attracting tourists from around the world to experience the city’s significant cultural heritage.
In 1999, Macau received only 7 million visitors. Early this month, this year’s visitor arrivals had surged to 32.5 million. Macau is now one of the cities with the highest concentration of UNESCO World Heritage Sites globally and is working to establish itself as a world tourism and leisure center. According to a survey by China Tourism Academy, Macau was ranked as the most satisfactory outbound destination for mainland tourists in the first quarter of 2024.
The city has also witnessed a boom in its entertainment industry over the years, with many performance events being held including large-scale concerts.
“Whether in terms of cultural events or infrastructure, Macau is an ideal venue for shows,” said Macau tenor Liu Naiqi. “Now, many mainland and overseas tourists come to Macau specifically to attend concerts.”
In 2023, cultural and artistic events attracted nearly 20 million participants, with large-scale concerts drawing around 1 million attendees and generating approximately 1.1 billion patacas in box office sales. Non-gaming sectors now contribute to more than 60 percent of Macau’s GDP, a steady increase from previous years.
“Macau’s efforts to accelerate the diversification of its economy not only strengthen its economic power and competitiveness but also enable it to play a more significant role in supporting the national strategy and the country’s high-level opening up to the outside world,” said Ip Kuai Peng, vice rector of City University of Macau.
Macau’s participation in Greater Bay Area (GBA) development and its active contribution to the Belt and Road Initiative (BRI) have provided new opportunities for the city’s growth. To further integrate into national development, Macau has established a Working Committee for Integrating into National Development, which promotes deeper economic, cultural and social cooperation with the mainland.
Macau is also collaborating with Hong Kong and the mainland to develop “one trip, multiple destinations” premium tourism routes, promoting business cooperation with Portuguese-speaking countries, and fostering cultural exchanges with nations around the world.
For many Macau residents, integrating their personal development with national growth has become a common goal. Huang Yin, founder of Macau-based Trendyi Health Technology, recalled how aligning her business objectives with China’s national development plan had prompted her to expand her business to Hengqin.
“We’ve built a bridge to connect Macau with excellent pharmaceutical resources from the mainland. Using Macau’s platform for trade between China and Portuguese-speaking countries, we’re promoting traditional Chinese medicine and culture to Portuguese-speaking countries,” Huang said, noting that her business has rapidly grown by seizing such opportunities.
Macau has become an ideal place for entrepreneurs – via its open business environment and the unprecedented opportunities provided by the Guangdong-Macau In-depth Cooperation Zone.
Cheong Chok Man, director of the Policy Research and Regional Development Bureau under the MSAR government, highlighted that the third plenary session of the 20th Communist Party of China (CPC) Central Committee had outlined plans to deepen cooperation within the Greater Bay Area and strengthen rules and mechanisms for greater synergy. “We believe that Macau’s cooperation with other cities in the Greater Bay Area will become even closer, and its integration with the region will deepen,” Cheong said.
Luo Weijian, a law professor at the University of Macau (UM), emphasized that the development of the Greater Bay Area provides a platform for all cities to leverage their strengths. “For Macau, it’s crucial to further capitalize on the advantages of ‘One Country, Two Systems’ to better serve national modernization and regional cooperation,” he said. – Xinhua, MPD
Wong Chi Choi, who is from Macau, looks on at the exhibition hall of Authenmole (Hengqin Zhuhai) Traditional Chinese Medicine Health Industry Development Co., Ltd., where he works, in Hengqin on Wednesday last week. At 8 o’clock every morning on weekdays, Wong drives his wife to the Hengqin Campus of the University of Macau (UM) from Fai Chi Kei on the Macau Peninsula and then either goes to work at his company based in the Guangdong-Macau In-depth Cooperation Zone in Hengqin, or dives back to his office in Macau. After finishing work in the evening, he will pick up his wife and return to their home in Macau. “When I first came to Hengqin in 2016, the commuting time between Macau and Hengqin was nearly two hours. Thanks to the measures to simplify the procedures for Macau-registered vehicles to enter Hengqin under certain conditions, the commuting time has been shortened to less than an hour, which has greatly enhanced my sense of happiness.” Wong said. As one of the first batch of twin city life explorers, Wong and his wife have assumed their new identities as Hengqin and Macau “exchange messenger”. Last week, Wong welcomed a group of students from Lou Hau High School of Macau and invited them to visit the automated and intelligent production line of traditional Chinese medicine (TCM) of his company. Wong told the students that the cooperation model of “Macau registration plus Hengqin production” not only expands new channels for the development of TCM in Macau, but also promotes the internationalization of traditional Chinese medicine.
In addition to having a bigger stage for his career, Wong also desires to live a more comfortable life in Hengqin. He has bought a property at Hengqin’s Macau New Neighborhood (MNN). “My baby was born this year, and the whole family is embracing a new life in our new home in Hengqin. Hengqin is a thriving and vibrant place.” Wong said. – Xinhua
Passengers pass through the immigtration e-channels at the Macau-Hengqin joint border checkpoint last month. – Xinhua
