11 Hengqin enterprises attended 2023 BAFTIS
On December 6, 2023, the Guangdong-Hong Kong-Macao Greater Bay Area Fair for Trade in Services (BAFTIS) was inaugurated in Zhuhai. During the fair, the Economic Development Bureau of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin set up a 126-square-meter special exhibition area, inviting 11 enterprises to showcase the achievements of the zone's trade in services.
The 11 enterprises cover the four new industries of the zone, including cultural tourism, convention and exhibition, sci-tech research, traditional Chinese medicine (TCM), and modern finance.
Lei Wai Nong, Director of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, stated in the opening ceremony that all sectors are welcome to make good use of Macao's advantages as a free port and separate customs territory. This includes allowing free flow of capital and having a Sino-Portuguese platform, while seizing the domestic market and utilizing industrial chains and infrastructure in the GBA through Hengqin.
According to the representative of the Economic Development Bureau of the zone, next they will accelerate the introduction of supporting measures for the high-quality development of the commerce and trade industry, improve the upstream and downstream industrial chain, and promote foreign investment and regional economic and trade cooperation.
Currently, the trade in services of the zone is heavily focused on technical import and export. In 2022, the amount of import and export contracts for technical services registered and filed in the zone exceeded 100 million USD. In the first three quarters of this year, the added value of the service industry was 30.926 billion RMB, a 2.6% increase compared to the previous year. The added value of the culture, sports, and recreation industry jumped by 63.8%, and that of the accommodation and catering industry increased by 14.3%.
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