'Macao + Hengqin' cooperation acts as a new model

The deep integrated development between the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Guangdong province, and the Macao Special Administrative Region has demonstrated a new model of China's practice of "one country, two systems" while promoting moderate and diversified economic development in Macao, according to a statement issued on Friday, which marked the fourth anniversary of the release of the overall plan for the zone.

According to the statement, the zone's "Macao + Hengqin" cooperation and development plan is emerging as a new model for enriching the country's practice of "one country, two systems", setting a new height for advancing the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and forming a new platform for advancing the country's high-level opening-up to the outside world, authorities said.

Since the overall plan for the zone in Hengqin was introduced four years ago, the mechanism of "joint consultation, construction, management, and sharing" between Guangdong and Macao has operated smoothly in Hengqin, which is located at the mouth of the Pearl River.

Meanwhile, the zone has also played a big part in expanding the development space of Macao and helping the special administrative region integrate into the national development strategy, said authorities. With innovation accelerating their agglomeration, Hengqin's characteristic industries have grown steadily, and the public services and social security systems have gradually aligned with those of Macao.

More than 7,300 Macao-funded enterprises have been attracted to the cooperation zone, and more than 28,000 Macao residents have lived and worked in Hengqin, demonstrating a deep integrated development of the two sides and a momentum of continuous development, said the statement.

Li Jizhao, public relations director of True Health (Guangdong Hengqin) Medical Technology, said the construction of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin is a major national strategy.

"The zone has excellent policy environment and location advantages, which can provide favorable soil and broad space for the development and growth of enterprises," said Li, noting that enterprises in the zone can enjoy a reduction of 15 percent in both corporate income tax and individual income tax.

Yan Baihong, general manager of Bio-Sincerity (Macao), said his company would continue to leverage its advantages in technological R&D and global supply chain, integrate the industrial policy support from Macao and Hengqin, and enhance the regional biopharmaceutical strength.

The company will also fully utilize Macao's role as a bridge for Portuguese-speaking countries to explore overseas markets, promote the integrated development of the Guangdong-Macao pharmaceutical industry and facilitate the rapid access of traditional Chinese medicine products to the global market, he added.

In order to further accelerate the integrated development of people's livelihood on both sides, the zone and Macao jointly held a signing ceremony in late August for an administrative cooperation memorandum on "hospital-to-hospital" cross-border transfer services.

Besides, a new special cross-border student shuttle service has also been launched since the beginning of September.