Closer mainland ties boost Macao's growth

The Closer Economic Partnership Arrangement (CEPA) between the Chinese mainland and the Macao Special Administrative Region (SAR) has proved a major boost to Macao's economic growth since coming into force in 2003, according to a recent report by China's Ministry of Commerce (MOC).

The report, issued to coincide with the 10th anniversary of Macao's return to China, concludes: "Economic and trade exchanges between the Chinese mainland and Macao had been on the rise since the two sides signed the CEPA and its six additional agreements, thus bringing Macao's economic development to a new high."

The Macao SAR was established on December 20, 1999. In October 2003, the mainland and Macao, which, at the time, had been hit hard by the SARS, signed the CEPA. Six additional agreements were signed in the following six years.