On 21 December, the Master Development Plan for the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as the "Plan") was released, which made a systematic and overall plan for the all-round integrated development of Macao-Qinqin in terms of space, industry, people's livelihood and urban construction. Among them, "encouraging social capital to set up multi-currency venture capital funds and private equity investment funds, exploring and carrying out pilot projects for the transfer of private equity and venture capital equity shares, and expanding market-oriented exit channels" has become the focus of attention in the capital market.
A few days ago, the 2023 Macauqin Venture Capital Summit (hereinafter referred to as the "Conference") was successfully held in Macao and Hengqin. More than 400 fund managers, industry leading enterprises, commercial banks and other people gathered at the conference site to show the style of Macao.
The Secretary for Economy and Finance of the Macao Special Administrative Region Government and Chairman of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as the "Cooperation Zone") Lei Wai Nong said in his speech at the Macao Special Session of the Conference that Macao and Hengqin, as one of the poles of the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, will work together to build a new model of industrial linkage development of "Macao platform + international resources + Hengqin space + achievement sharing", and give full play to its incomparable advantages in linking the two major domestic and international markets and utilizing the two major resources, which will surely bring broader development opportunities for the development of enterprises. At the same time, in order to cooperate with the industrial development of the two places, since the beginning of this year, the cooperation zone has newly established a government guidance fund and a wholly-owned company of the executive committee, Hengqin Shenhe Investment Co., Ltd., to guide social capital to invest in key supported and encouraged industries.
Fund attraction: The formation of a new high-level opening up system has been accelerated
In July this year, the Co-operation Zone invested in the establishment of the "Hengqin Guangdong-Macao In-Depth Cooperation Zone Industrial Investment Fund (Limited Partnership)" (hereinafter referred to as the "Hengqin Industrial Investment Fund"), managed by CICC Capital. During the same period, Hengqin Shenhe Investment Co., Ltd. (hereinafter referred to as "Shenhe Investment"), the only wholly state-owned platform company in the cooperation zone, entered into physical operation.
In the past six months, Xu Zhongchao, Managing Director of CICC Capital, has flown to Hengqin almost every week to explore and practice with the industrial investment fund management team in terms of system construction, project reserves, and investment linkage. In his view, the cooperation zone carries great political practice, has the advantages of being located in the hinterland of the Guangdong-Hong Kong-Macao Greater Bay Area and high-level social governance capabilities, and will become an important area for entrepreneurs and investors in the forward-looking strategic layout.
At present, the cooperation zone is vigorously building an efficient interactive platform among the government, industry and capital, promoting CICC Capital and Shenzhen Cooperation Investment to play a combination of capital investment, and continuously enriching and improving the industrial layout through investment promotion. Up to now, Hengqin Industrial Investment Fund has docked with more than 260 sub-funds with cooperation intentions, such as CDH Investments, Vivo Capital, and Wu Yuefeng Fund, as well as more than 140 investment targets with landing intentions, such as True Health, Extreme Vision, and Diqi Furui Biotechnology.
With the deepening of synergy between Macao and Hengqin, Hengqin is becoming a convergence point between the advantages of the Macao Free Trade Port and the vast market space of the Mainland, providing a broader development space for settled enterprises.
According to Nie Xinping, Deputy Secretary of the Hengqin Working Committee of the Guangdong Provincial Party Committee, Director of the Hengqin Office of the Provincial Government, and Deputy Director of the Executive Committee of the Cooperation Zone, in his speech at the Hengqin session of the conference, the Cooperation Zone actively plans to lay out characteristic industries such as integrated circuits, artificial intelligence, big data, modern finance, and the metaverse, and launches a series of new industrial policies such as biomedicine, integrated circuits, cultural tourism and exhibitions, and modern finance, so as to fully empower the "four new" industries in Hengqin and support the moderate diversification of Macao's 1+4 industries.
In-depth cooperation: Empower the diversified development of the "1+4" industry
With the release of the Plan, Guangdong and Macao will continue to promote the integrated development of Macao and Hengqin.
At present, the Co-operation Zone is focusing on the strategic positioning of the "Four New", vigorously developing the "four major industries" of Macao's brand industries such as scientific and technological research and development, high-end manufacturing, traditional Chinese medicine, cultural tourism, convention and exhibition, commerce and trade, and modern financial industry, and promoting the incremental improvement of characteristic industries through a series of new policies. The continuous linkage and integration of Macao and Qinqin and complementing each other's advantages will bring enterprises an advantageous platform that links the two major domestic and international markets and connects with dual resources, and provides a broader opportunity space for the development of enterprises.
At present, the cooperation zone is becoming a fertile ground for domestic investment and industrial development, and more and more domestic and foreign first-line investment institutions and high-quality enterprises have come to Hengqin. Among them, there are many top representatives at home and abroad, and they have made remarkable achievements in their respective fields.
"The charm of the cooperation zone is that it is the most developed region and the most free region in China, and the biggest advantage is to be able to invite the most scarce human resources to it. Fu Shan, Managing Partner, Co-CEO and CEO of Vivo Capital in Asia Pacific, said that he hopes to leverage the advantages of Hengqin and the Macao Cooperation Development Zone to promote the implementation of high-level research hospitals and global institutions.
"Settling in the local area is not for a performance or a movie, but for the hope that there will be a real industrial chain landing. That's what we want to do. Zhang Chen, chairman of Happy Twist, recalled his feelings when he first came to Hengqin, and revealed that he had been discussing the promotion of platform projects including training courses and comedy festivals in Macao and the Cooperation Zone.
According to reports, the cooperation zone will actively play the role of government guidance funds in guiding and amplifying, give full play to the advantages of cooperation between CICC Capital and Shenzhen Cooperation Investment, strengthen cooperation with more domestic leading investment institutions, explore sub-funds and target projects with landing and cooperation intentions, introduce more strategic investors, and further promote the diversified development of the Aoqin industry.
Innovation Leading: Writing a new chapter in the integration of Macao
The Plan also proposes to take the cooperation zone as the general traction to promote in-depth cooperation between Macao and Zhuhai, and work together to build the Macao-Zhuhai pole in the Guangdong-Hong Kong-Macao Greater Bay Area.
During the interview, the reporter found that the cooperation zone is not only a prosperous land with a first-class business environment and industrial clusters, but also a treasure land that links domestic and foreign markets and shares the benefits of the two systems. With the support of the high position of "in-depth cooperation between Guangdong and Macao", the business environment of "Macao-Hengqin Integration" has been continuously optimized, and the policy dividend effect will continue to be released.
What makes entrepreneurs and investors happy is not only the layout of many characteristic industries and the release of a series of new industrial policies, but also the acceleration of the development trend of the cooperation zone with the increasing effect of industrial agglomeration and the agglomeration of innovative leading enterprises.
According to the information disclosed at the conference, the Hengqin Industrial Investment Fund will cooperate with a number of leading investment institutions, focusing on scientific and technological research and development and high-end manufacturing industries, traditional Chinese medicine and other Macao brand industries, cultural tourism, convention and exhibition commerce and trade industries, modern financial industries and other fields.
With the empowerment of the government's guidance fund, the industrial attraction and cultivation of the Co-operation Zone has entered the fast lane, and the endogenous driving force for the moderate diversification of Macao's economy is accelerating. With the further rationalization of the operation of the system and mechanism, the acceleration of key projects, and the intensive implementation of major policies, the overall characteristics of the Co-operation Zone to serve Macao will become increasingly obvious, and usher in a new round of industrial development. At the turn of the year-end and the beginning of the new year, a new movement is being played in harmony between Macao and Qinqin, and a new movement is being played to firmly move towards the extreme future of the Greater Bay Area and enrich the new practice of "One Country, Two Systems"!
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