The Third Plenary Session of the 20th Central Committee of the Communist Party of China emphasized the need to fully leverage the unique institutional advantages of “One Country, Two Systems” and further improve the mechanism system that enables Macao to better play its role in the country’s opening up process.
“One Country, Two Systems” provides Macao with a high degree of autonomy, allowing it to maintain its original capitalist system and lifestyle while fully utilizing the vast market and resource support of the mainland. This institutional cornerstone has become a key guarantee for Macao’s economic development and has also established a solid and unique framework for Guangdong-Macao economic integration. Undoubtedly, the Hengqin Guangdong-Macao Deep Cooperation Zone has become the core driving force and key breakthrough for promoting Macao’s economic leapfrog development and industrial structure optimization and upgrading.
The series of special policies enjoyed by the Hengqin Guangdong-Macao Deep Cooperation Zone are like powerful magnets, laying a solid foundation for attracting massive capital, cutting-edge technology, and high-quality talent. For example, after the implementation of the enclosed operation, the scope of entities and goods that can enjoy tax exemption or bonded policies through the “first-line” imports has been significantly expanded.
Goods that include imported materials and have a processing value-added of 30% or more are exempt from import tariffs when entering the mainland market through the “second-line”. This measure significantly reduces operating costs for enterprises, exponentially increasing their attractiveness to various enterprises, especially manufacturing enterprises, and prompting a flood of capital to flow into the cooperation zone. This policy innovation and implementation are the results of fully considering Macao’s special status and development needs under the “One Country, Two Systems” framework, demonstrating the flexibility and adaptability of the system and opening up a unique policy channel for Macao to integrate into the overall national development.
The Hengqin Cooperation Zone has precisely targeted four key industrial development areas: technology R&D and high-end manufacturing, traditional Chinese medicine and other Macao characteristic brand industries, cultural tourism, exhibition, and commerce, as well as modern finance. This aligns closely with Macao’s “1+4” strategy for moderate diversification and synergistic resonance.
In the sector of technology R&D and high-end manufacturing, the cooperation zone has strategically planned and vigorously constructed key scientific and technological infrastructure, successfully attracting national key laboratories from Macao universities to settle in. This move has greatly accelerated the transformation process of scientific research achievements from laboratories to market applications, spurring the emergence of a thriving industrial cluster centered on integrated circuit design.
A large number of related enterprises and top talents have flocked to the zone, injecting strong impetus into industrial upgrading. Macao can leverage the mainland’s scientific research capabilities and industrial resources to break through geographical and resource constraints, which is a vivid manifestation of regional coordinated development under “One Country, Two Systems”. Both parties complement each other’s advantages and jointly explore innovative development models.
Traditional Chinese medicine and other Macao’s traditional advantageous brand industries have ushered in unprecedented new opportunities in the cooperation zone. With the strong support of policies and the efficient construction of specialized parks, Macao’s traditional Chinese medicine enterprises can showcase their strength in a broader market, enhancing their brand awareness and market competitiveness simultaneously, and attracting more capital to focus on this field.
In the cultural tourism, exhibition, and commerce industry, Hengqin, with its vast land resources resulting in lower accommodation costs and significantly reduced exhibition costs and convenient material transportation after the enclosed operation, deeply integrates with Macao’s rich and diverse tourism resources, complementing each other and jointly creating internationally influential and reputable flagship brands in cultural tourism and exhibitions. This attracts global tourists and business elites, injecting continuous vitality and wealth into the development of related industries.
In recent years, the cooperation zone has advanced modern infrastructure, creating an efficient transportation network. Projects like the Hengqin Bridge, Lianhua Bridge, and Hengqin Tunnel, along with the smooth operation of New Hengqin Port, have seamlessly connected Qin and Macao, reducing travel time and enhancing flow efficiency.
Information infrastructure improvements have also been a focus, boosting regional informatization and fostering a high-quality environment for businesses, attracting capital, technology, and talents.
The cooperation zone has introduced a new Guangdong-Macao collaboration mechanism, featuring joint management and shared responsibilities through a dual-director system and an executive committee. It actively contributes to legal framework development, promoting rule convergence, and establishing an efficient operational structure, ensuring a stable, transparent business environment.
A delegated authority mechanism maximizes innovation and entrepreneurial drive, making the zone attractive for investment. This innovative cooperation model respects Macao’s autonomy while fostering deep economic synergy between Guangdong and Macao, serving as a model for regional integration under “One Country, Two Systems.”
