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Hengqin In-Depth Cooperation zone financed to the hilt

(cityofzhuhai.com)

Updated: 2021-09-14

More than 200 billion yuan ($31 billion) will be spent in new transport and municipal infrastructure and public service facilities to build up the Hengqin Guangdong-Macao In-Depth Cooperation Zone.

The Zhuhai Finance Bureau has allocated 30 billion yuan ($5 billion) of that amount to build connections from Hengqin Island to, for instance, Zhuhai Airport Urban Rail Transit Phase II and the Jinhai and Second Hengqin bridges.

Leapfrog development of Hengqin has been supported by the bureau since 2009 to bring about Macao's economic diversification. The bureau has helped Hengqin secure 6 billion yuan ($930 million) from the central government and 27.34 billion yuan ($4 billion) from the Guangdong government.

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East Hengqin Island at the Central Channel (Tianmu River) and Lotus Bridge [Photo provided to Zhuhai Media Group]

In addition, the General Public Budget and government fund revenues generated in Hengqin are all returned for development and construction. The total over the past 12 years has exceeded 150 billion yuan ($23 billion).

As of now, the municipal and district governments have invested 28.78 billion yuan ($4 billion) to build logistics industrial parks and infrastructure that has boosted connectivity between Hengqin and the surrounding Hongwan, Shizimen North, and Hezhou areas.

More than 50 billion yuan ($8 billion) has been spent on major transport infrastructure including the Xianghai and Honghe bridges, Zhuhai Airport Urban Rail Transit Phase I, and Jinqin Express Road.

The regional GDP of Hengqin was 40.7 billion yuan ($6 billion) in 2020, 143 times that of 2009, and General Public Budget revenue was 37.21 billion yuan ($6 billion) in 2020 – 401 times that of 2009. Local fixed-asset investment has totaled 330 billion yuan ($51 billion).

The In-Depth Cooperation Zone is home to more than 10,000 sci-tech enterprises, of which 328 are high-tech. It has instituted 622 reform and innovative measures, three selected into the Best Practices of National Pilot Free Trade Zones, and 100 promoted in Zhuhai, Guangdong, and nationwide.

The Sept 5 release of the Overall Development Plan for Construction of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin marked an historic opportunity for Zhuhai and Greater Bay Area reform and development in the new era.


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