Hengqin New Area's first state-owned fully market-oriented enterprise was announced on July 16 as the result of four SOEs being blended into one to promote investment, provide services, and support Macao.

Hengqin Development Ltd Liability, Hengqin Financial Investment Inno Valley HQ Incubator Management, Hengqin Talent Human Resource Services, and Zhuhai Da Heng Qin Innovation & Development now constitute Zhuhai Da Heng Qin Development.

Since May, the restructuring has already seen cooperation agreements signed with five entities in Hengqin to build Guangdong-Hong Kong-Macao Financial Innovation and Hengqin Island Office demonstration bases and develop an office economy.

Plaque unveiling [Photo by Li Jianshu / Guanhai App]

The new company is attracting investment, incubating businesses, serving human resources, and operating industrial parks. Its business scope embraces integrated circuit design, artificial intelligence, cloud computing, big data, cyber security, medical treatment and health, and 5G Internet of Things.

The further aim is to bring more high-quality projects to Hengqin and provide versatile incubation services spanning talent, entrepreneurship, and transport to rapidly develop newly settled enterprises.

According to the local Implementation Plan of Merger & Restructuring for Investment Attraction Enterprises, Da Heng Qin Development uses a combination of talents, capital, technology, and information to invigorate the value of Hengqin industrial carriers.

The restructuring is also to deepen cooperation with Macao and lead to an efficient layout of key industries. It serves Hengqin’s quest to become an industry and talent highland, said Yang Chuan, director of the Hengqin New Area Administrative Committee.

The enterprise is attracting investment from established industrial carriers in the near term, said Zhang Daqing, deputy general manager of Zhuhai Da Heng Qin Development. It intends to control more than half of Hengqin’s commercial properties within five years and achieve an enterprise occupancy rate of over 65 percent.