The Guangdong-Macao In-Depth Cooperation Zone in Hengqin began to shine as a global hot spot for investment, entrepreneurship, and living with its GDP growing by 9.1 percent to 33.27 billion yuan ($5.22 billion) in the first three quarters of 2021.

Hengqin's general public budget revenue went up by 11.1 percent year on year to 9.87 billion yuan ($1.55 billion) from January to November in 2021. In addition, its fiscal revenue during the September-December period stood at 1.58 billion yuan ($247.1 million).

Hengqin-based Traditional Chinese Medicine (TCM) Science & Technology Industrial Park of Cooperation Between Guangdong & Macao [Photo provided to Zhuhai Media Group]

As of late 2021, nearly 10,000 sci-tech companies have settled in the zone, among which are 800 Macao-funded and 328 national hi-tech companies. Eighteen new sci-tech innovation platforms, such as incubators and R&D institutes, at national and provincial levels have been set up.

Since inauguration of the zone's administrative organizations in September, 183 Macao-founded companies have laid down their roots on the island, increasing the total to 4,744 with a year-on-year growth of 32.55 percent and covering 17 major industry categories of the national economy.

Of note, Hengqin-based TCM Science & Technology Industrial Park of Cooperation Between Guangdong & Macao is now home to 216 companies, 52 of which are Macao-funded. All 25 projects in the park have started construction. 

The Overall Development Plan for Construction of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin will be further implemented and diversified development of Macao's industries will be prioritized. Hengqin will provide stronger political support and create a globally leading business and living environment with new technologies, industries, business patterns, and models, according to Nie Xinping, secretary general of the zone's Management Committee.