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Guangdong – Macao Trade and Economic Co-operation Information Section

Agreement for Guangdong-Macao Co-operation and Development Fund Signed in Guangzhou and Enabled Financial Co-operation in the Guangdong-Hong Kong-Macao Greater Bay Area to Scale New Heights

The signing ceremony of the Guangdong-Macao Co-operation and Development Fund (the Fund) was held in Guangzhou on 4 May. The Fund, jointly initiated by the Macao SAR Government and the Guangdong Provincial Government, is operated by state-owned enterprises in a market-oriented manner. The event was attended by the Vice Governor of Guangdong Province Chen Liangxian and the Secretary for Economy and Finance of the Macao SAR Leong Vai Tac.

Vice Governor Chen Liangxian gave a speech and said that, the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is a major decision of the Central Government, as well as an important task under the reform and opening of the Guangdong province. The Fund plays an active role in promoting infrastructure interconnection in the GBA, supporting the development of the major platforms, nurturing the growth of emerging industries as well as jointly building a quality environment suitable for dwelling, working and travelling in the GBA, taking Macao-Guangdong collaboration to a new level.

In his speech, Leong Vai Tac said that the implementation of the Fund is the first inspiring achievement of the innovative financial co-operation between Guangdong and Macao, as well as a new measure to deepen partnership between the two places. It creates new model of collaboration between Guangdong and Macao, enriches the contents and strengthens the level of collaboration. Being an important entry point of Guangdong-Macao participation in the development of the GBA, the Fund will further intensify Macao’s participation in the development of the GBA and to be incorporated into the national development plan, while maintaining the long-term prosperity and stability of Macao.

In recent years, the two places actively explore innovation in the model of co-operation while seeking common development, and as a result, the Framework Agreement on Promoting Macao Financial Capital in Participating in Guangdong-Macao Co-operation Project and Memorandum of Co-operation on the Guangdong Development Fund for Guangdong-Macao Co-operation were signed respectively. The signing of the relevant agreements denoted the formal operation of the Fund. The fund management company was established by state-owned enterprises, the Guangdong Hengjian Investment Holding Co Ltd and the Guangdong Namyue Group, raising RMB20 billion from Macao’s Fiscal Reserve in the form of a Qualified Foreign Limited Partner (QFLP). The Fund operates in a market-oriented manner under the principles of “safe, effective, standard, credible”, and invest in high-quality key projects including those related to the GBA and beneficial to the economy and livelihood of the two regions as well as infrastructure of pilot free trade zones in Guangdong. The establishment of the Fund is also a major breakthrough in GBA financial collaboration. By means of the professional fund management platform, Guangdong and Macao jointly promote the involvement of Macao financial capital in the development of Guangdong-Macao co-operation project, actively encourage the innovative development of industries and financial co-operation in GBA, as well as the development of cross-border RMB business between Guangdong and Macao, strengthening liaisons between the two sides, and enable Macao’s general public to share the outcome of the development of the GBA and the economic growth of Guangdong province.

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Signing of the agreement on Guangdong-Macao Co-operation and Development Fund