Guangdong, Macao Sign Cooperative Pact
Guangdong Governor Huang Huahua (R, front) and Macao Special Administrative Region (SAR) Chief Executive Chui Sai On (L, front), sign a framework agreement on cooperation on behalf of their respective governments in Beijing, capital of China, March 6, 2011. Chinese Vice President Xi Jinping (C, back), also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee attended the signing ceremony held at the Great Hall of the People. The agreement, consisting of eight chapters and 38 clauses, sets the orientations, principles and targets regarding a wide range of issues in economic, social, welfare and cultural fields. (Xinhua/Ma Zhancheng)
China's Guangdong Province and Macao Special Administrative Region (SAR) signed a framework agreement on cooperation Sunday in Beijing.
Chinese Vice President Xi Jinping, also member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau attended the signing ceremony held at the Great Hall of the People.
Guangdong Governor Huang Huahua and Macao SAR Chief Executive Chui Sai On, signed the document on behalf of their respective governments.
The agreement, consisting of eight chapters and 38 clauses, sets the orientations, principles and targets regarding a wide range of issues in economic, social, welfare and cultural fields.
Under the framework, the two areas will work together to develop the Hengqin Island and the Guangdong-Macao Cooperative Industrial Garden.
The two sides will also cooperate in developing local industries, building infrastructural facilities, providing public services and regional development planing.
In their addresses at the signing ceremony, both Huang and Chui hailed the signing of the historical agreement and pledged to fully implement the document.
Also present at the signing ceremony were State Councilor Liu Yandong, Guangdong Party Chief Wang Yang, and vice chairpersons of the National Committee of the Chinese People's Political Consultative Conference Liao Hui and Edmund Ho Hau Wah.
Guangdong-Macao cooperative pact to push forward diversification of Macao's economy: local analyst
Macao Special Administrative Region (SAR) and Guangdong Province signed a framework agreement on cooperation Sunday (March 6)in Beijing, a step that Macao's analysts said would bring new opportunities for the city's diversified development.
Guangdong Governor Huang Huahua and Macao SAR Chief Executive Chui Sai On signed the document on behalf of their respective governments.
Macao Special Administrative Region (SAR) and Guangdong Province signed a framework agreement on cooperation Sunday (March 6)in Beijing.(Photo: Southcn.com)
The agreement, consisting of eight chapters and 38 clauses, sets the orientations, principles and targets regarding a wide range of issues in economic, social, welfare and cultural fields. Under the framework, the two areas will work together to develop the Hengqin Island and the Guangdong-Macao Cooperative Industrial Garden.
The agreement will help further expand cooperative fields between Macao and Guangdong, Chui said in the address at the signing ceremony, adding that Macao SAR government decides to set up an inter-department working group to make sure the cooperative agreement be fully carry out.
Xiao Zhiwei, Chief of Council for Macao Development Strategy Research Center, believed that cooperation of the two sides on development of Hengqin Island will provide vast opportunities for local enterprises.
Being the only place in China where gambling is legal, Macao witnessed spiraling growth of the gaming industry since 2002 and its highest monthly gaming revenues record has been broken again and again due to increasing influx of visitors. In February, the total revenues of Macao's gaming sector rose to a record-high 19. 86 billion patacas (2.48 billion USD).
To lessen Macao's overwhelming reliance on gambling, which contributes more than 70 percent of the government's revenues, Macao SAR government vowed to "appropriately diversify" the city's economy.
Xiao pointed out that due to restriction of local market scale and land resources, Macao's small and medium sized enterprises has been in a inferior position for a long time.
If SAR government takes the initiative and encourages them to take part in development of Hengqin Island, as indicated in the cooperative agreement, Macao's enterprises will gradually overcome their weakness and brace for bright opportunity from regional cooperation, according to Xiao.
