MACAU BUSINESS Innovations
Innovation and technology lie at the core of this plan, which Beijing has dubbed a key to ‘the great renaissance of the Chinese nation’, with the term ‘innovation’ repeated 139 times, and popping up 76 times in the document. Hong Kong, Macau, Guangzhou and Shenzhen
are regarded as core engines for the development of the 11 cities ‘to be driven by innovation and led by reform’ the outline notes.
The document also reiterates the positioning of Macau in
Innovations in systems and mechanisms are key to facilitating the establishment of the Guangdong-Hong Kong- Macau Greater Bay Area,
“
promoting the high efficiency and exchange of people, logistics, capital and information in the region.
MACAU LEGISL ATOR SI KA LO ”
the region, assigned by Beijing for years, that the city has to ‘develop into a world-class tourism and leisure centre and a commerce and trade co-operation service platform between China and Portuguese-speaking countries, promote an appropriate level of economic diversification, and develop into a base for exchange and co-operation where the Chinese culture is dominant with diverse cultures.’ “Innovations in systems and mechanisms are key to facilitating the establishment of the Guangdong-Hong Kong- Macau Greater Bay Area, promoting the high efficiency and exchange of people, logistics, capital and information in the region,” said Macau legislator Si Ka Lon, who is also a local deputy of the National People’s Congress (NPC).
“Macau should not just wait passively but should actively involve [itself] in the planning of details of the Greater Bay Area…and make contributions. It is of paramount importance now to build up a management and interest sharing mechanism [among the three places].” He suggests that nearby Hengqin Island – a part of Zhuhai regarded by the central government as a driver of Macau’s economic diversification – could further innovate its mechanisms of cargo, personnel and capital to become an experimental showcase of integration of systems between Guangdong and Macau.
Just hype
The differences in the political and economic systems of Guangdong, Hong Kong and Macau have been pointed out by Mr. Si and observers across the political spectrum as the main hurdle for the development of the Greater Bay Area. At a public occasion in January the former president of the Legislative Assembly, Susana Chou Kei Jan, said the progress of regional development
22 APRIL 2019
Macau Highlights in Greater Bay Area Outline
Establish a mechanism for innovation and entrepreneurship exchanges as well as sharing relevant resources between Guangdong, Hong Kong and Macau Provide more opportunities and better conditions in Guangdong for young people from Hong Kong and Macau to innovate and set up businesses Support the set-up of a platform for developing traditional Chinese medicine science and technology industries in Macau Support the expansion and reconstruction of Macau Airport, while assisting the city to develop regional business aircraft services Support Macau in developing a China-Lusophone countries platform for financial services, establishing an export credit insurance system and developing into a yuan clearing centre for Lusophone countries Explore the development of a Macau-Zhuhai cross- boundary financial co-operation demonstration zone Study the feasibility of establishing in Macau a securities market denominated in yuan Support Macau collaboration with the Silk Road Fund, Sino-Latin American Production Capacity Co-operation Investment Fund, China-Africa Production Capacity Fund and Asian Infrastructure Investment Bank Support eligible Hong Kong and Macau banks and insurance institutions in setting up operations in Qianhai in Shenzhen, Nansha in Guangzhou, and Hengqin in Zhuhai Support Macau in nurturing renowned convention and exhibition brand names with global influence Support Macau in scientifically devising and implementing a medium and long-term marine development plan, and further developing relevant industries such as marine tourism, marine technology and marine biology Support Macau and its neighbouring cities in exploring the feasibility of developing international yacht tourism and cruise markets targeting international markets Develop Hengqin into a high-standard international leisure and tourism island to complement Macau’s development into a world centre of tourism and leisure Support Macau in establishing a training base for bilingual talent proficient in Chinese and Portuguese, and developing a Greater Bay Area tourism education and training base Set up in Macau in a co-operation alliance in tourism for cities in the Greater Bay Area Support Zhuhai and Macau in jointly developing livelihood projects with integrated services in Hengqin, including elderly care, living conditions, education and healthcare Study the establishment of a healthcare fund offering healthcare protection for Macau residents receiving medical treatment in Hengqin. Support Macau in further improving its talent structure
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