Macau and Guangdong seal Cooperation Framework Agreement

The Macau SAR and China's Guangdong Province signed a co-operation framework agreement on March 6 at the Great Hall of the People in Beijing after almost a year of negotiations and preparations.

The agreement consists of eight chapters and 38 clauses setting out the orientations, principles and targets regarding a wide range of issues in economic, social, welfare, cultural and creative industries. Under the framework, both Macau and Guangdong Governments will work together to develop the Hengqin Island and the Guangdong-Macao Cooperative Industrial Garden while also developing local industries, building infrastructural facilities, providing public services and regional development planning.

The highly focused Hengqin Island cooperation includes major project such as

Asia biggest holiday center being built by Chime Long Group – A RMB 20 Billion project that includes convention centers, hotels, golf courses, yachting center and a 210m ferry wheel;

Macau University – Costing MOP6 Billion and leased at US$150 million for 40 years, the 1.09sqkm campus for 10,000 students;

International residential area – A green and low-density setting priced lower than those of Macau will be created, with the border opened 24 hours a day;

Infrastructure – A 52km road suitable for bicycles and marathons will ring the island; and

Shizimen Central Business District – The district is designed for banking and insurance, business services, trade and business, conventions and exhibitions.” being also constructed is a 300-m tower, the tallest in Zhuhai and Macau, with high-grade office space and the St Regis Hotel.