02/08/2023 Source: newsgd.com
The regulations for promoting the development of Guangdong-Macao In-depth Cooperation Zone in Hengqin will take effect from March 1, 2023, according to the press conference held by the Standing Committee of Guangdong’s Provincial Congress on February 8.
The regulations cover eight chapters and 66 articles on the administration system of the Zone, and its planning, construction and management, as well as industrial development.
In terms of accelerating Macao’s adequate economic diversification, it detailed how to develop sci-tech R&D and high-end manufacturing, traditional Chinese medicine (TCM), cultural and tourism industries, convention and exhibition, and commercial and trade industries, and modern financing industry.
Besides this, it focuses on how to facilitate Macao residents’ livelihood, promote the integrated development of Hengqin and Macao and ensure corresponding legal protections.
To better align with Macao’s public services and social security system, the regulations also put forward a series of measures on education, medical care, social services and transport, such as the “Macao New Neighborhood” project and schooling for Macao residents’ children.
According to the authorities from the Standing Committee of Guangdong’s Provincial Congress, the regulations specified the responsibilities of the executive committee and delegate powers to the greatest extent to allow the Zone to fully conduct reforms and develop.
It will provide a more comprehensive and concrete legal basis to the administration and development of the Zone as well as support Guangdong and Macao in bettering the new mechanism of mutual discussion, joint construction, joint administration and shared benefits.
The new regulations aim to provide a strong legal underpinning to the development of the Cooperation Zone in Hengqin, promote long-term prosperity and stability in Macao and better integrate Macao into the overall development of the country, according to Zhu Wei, Deputy Director-General of Guangdong Provincial Development and Reform Commission.
Moving forward, the Cooperation Zone will introduce more supporting measures and policies in line with the regulations to boost the above-mentioned key industries, said Ng Chi Kin, Deputy Director of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin.