Asia Times Online - News from greater China; Hong Kong and Taiwan

China

China-Macau industrial park launched

MACAU - A cross-border industrial park between Macau Special Administrative Region (SAR) and Zhuhai, in southern China's Guangdong province, was officially launched here on Tuesday.

The park is the first of its kind for the land-stringent Macau to seek external cooperation to diversify its industrial structure.

An inauguration ceremony for the park was jointly presided by Macau Chief Executive Edmund Ho Hau-wah and Guangdong Governor Huang Huahua.

China's State Council gave a green light to build the 400,000-square-meter park on reclaimed seashore in the border area of Zhuhai and Macau this month.

The park, which will be managed in mode of a bonded zone, will enjoy advantages of cheap labor from the mainland and Macau's facilitated trade access to the mainland as well as its traditional markets in America and Europe to develop brand textile products and garments mainly for export.

With a land area of 25 square kilometers, Macau, famous for its tourism, hopes that the industrial park will help it overcome its geographic limit and foster more diversified industries for sustainable development, making full use of favorable policies brought by the mainland/Macau Closer Economic Partnership Arrangement (CEPA), which was signed in October.

Huang said exploration on the management mode of the park will provide experiences for Macau and Zhuhai to engage in the ensuing joint exploration of the Hengqin Islands in Zhuhai, which is adjacent to Macau.

Sources with the Macau Secretariat of Economic and Finance said it has received inquiries from overseas manufacturers on setting up shop in the park, which is most attractive for those engaged in textile, garment and electronic businesses.

(Asia Pulse/XIC)

Dec 11, 2003

No material from Asia Times Online may be republished in any form without written permission.

Privacy and Legal Policies

Asian Sex Gazette | Asian Sex News China