Beijing businesses seek investment, partnerships

Macao fair attracts exhibitors from more than 50 countries and regions

Beijing is making efforts to further expand its exchange and cooperation with Macao by introducing a range of its industries to the special administrative region at the 20th Macao International Trade and Investment Fair, which began on Thursday and ends on Sunday.

This year marks the sixth consecutive year the Chinese capital has taken part in the annual event. Twenty enterprises from Beijing are attending the fair, hoping to seek investment or cooperation opportunities for more than 40 projects in a number of fields, including high-tech, professional training, art performances and exhibitions.

798 Art Zone, an exhibition zone for art and Chinese culture in Beijing, is one of the participants.

"People in Macao have shown great interest in traditional artworks," said Zhang Guohua, executive deputy director of the Beijing administrative committee of 798 Art Zone. "A lot of visitors have come to our booth to look at the art pieces.

"Through the platform, we are able to spread our culture and art to other places in the country and to countries all over the world. Artworks by our artists are fully displayed. At the same time, more people get to know 798 Art Zone."

Cultural exchanges between 798 Art Zone and Macao are expected to increase significantly in the future, Zhang said. "This will be beneficial to people both in Beijing and in Macao."

Zhang Kun, who is in charge of calligraphy training at the Youth and Children Activity Center in Beijing's Chaoyang District, said although it is the first time for the organization to take part in the event, she places great hope in the fair, and hopes it will bring more exchange programs for Beijing and Macao youths.

"Youth exchanges between the two cities has been limited. We hope that more activities can be held so that youth in both cities can visit each other's city and share their views and ideas," she said.

LeTV is also part of the Beijing delegation. Committed to building a complete ecosystem of "platform plus content plus terminal plus application", the video provider hopes to tap into a wider market.

"So far, we have not had coverage in Macao," said Andy Chan, sales manager of international business at LeTV. "But we have interest in every market and want to gain a foothold in those where we believe there is high potential."

The trade volume between Beijing and Macao totaled $382 million in 2014, up 8.7 percent year-on-year, data from the Ministry of Commerce shows.

With a total investment of $232.38 million, companies from Macao established 164 businesses in Beijing between January and August. In the same period, companies from Beijing invested $18.89 million in the special administrative region.

The fair, which has been held for two decades, was launched with the aim of providing a platform to promote international investment and trade. Themed "Cooperation - Key to Business Opportunities", this year's fair attracted exhibitors from more than 50 countries and regions, with about 2,000 exhibition booths.

"For two decades, MIF has played a role as a platform for international trade and exchanges and contributed to the strengthening of regional collaboration, showcasing Macao's strengths as a 'World Tourism and Leisure Center' and a 'Business and Trade Cooperation Service Platform between the Chinese mainland and Portuguese-speaking countries," Leong Vai Tac, secretary for economy and finance of the SAR, said at the opening ceremony.

The fair is expected to develop more potential sources of investment and facilitate trade activities through programs designed by the Beijing municipal government and organizers in Macao, which offer companies from both sides new market growth opportunities.

Many of the opportunities come from their moves to upgrade and diversify their economic development models, such as supporting service trade, e-commerce businesses, tourism and infrastructure development in the global market.

Beijing previously selected the themes of tourism, innovation and regional cooperation during the MIF, which were warmly welcomed by the Macao government and participants as they met the region's need for development and showcased factors of Beijing such as its ancient city, fast-growing high-tech and service sectors, modern art and new innovation.

To further improve the cooperative mechanism with business chambers in the SAR, Beijing will hold Beijing-Macao-Portuguese-speaking country business promotion events during the MIF. Both State-owned enterprises and well-known international companies will be invited to join.

Key organizations and government branches including the Macao Trade and Investment Promotion Institute, the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries and the Macao Government Tourist Office will take part in the events organized by Beijing.

Macao's advantages are characterized by its free port policy, separate customs territory, low taxation system with a tax rate of no more than 12 percent, widespread international market network, close relationship with Portuguese-speaking countries and the implementation of the Chinese Mainland and Macao Closer Economic Partnership Agreement, according to a World Trade Organization report released in June this year.

"Macao has already become a regional trade and economic service platform, especially in the promotion of economic and trade cooperation between enterprises on the Chinese mainland, Portuguese-speaking countries and overseas Chinese entrepreneurs," said Zhao Ying, a researcher at the Institute of Industrial Economics under the Chinese Academy of Social Sciences in Beijing.

Zhao said the Portuguese, Brazilian, Angolan and Mozambican markets all have huge demand for infrastructure construction and modern agricultural and service projects, and forming closer partnerships or joint ventures with companies in Macao will help Beijing enterprises such as Beijing Construction Engineering Group, Beijing Urban Construction Group and Beijing Drainage Group expand their global presence effectively.

Contract the writers at sally@chinadailyhk.com and zhongnan@chinadaily.com.cn

(China Daily 10/23/2015 page12)