Business / Economy

Guangzhou pilot zone to deepen co-op with HK, Macao

(Xinhua) Updated: 2012-10-10 17:36

BEIJING -- The South China city of Guangzhou eyes fostering a pilot zone in the city's southern Nansha District, as it hopes to boost cooperation with nearby Hong Kong and Macao.

The development plan for the district for the 2012-25 period, officially approved by the State Council last month, will promote joint technological innovation as well as the industrial application of those achievements between Guangdong province and Hong Kong and Macao special administrative regions through a range of incentive policies, according to a news briefing on Wednesday.

Nansha New District in Guangdong, with a planned area of 803 square kilometers, is located in the center of the Greater Pearl River Delta Area, 38 nautical miles from Hong Kong and 41 nautical miles from Macao.

The latest development plan highlights cooperation with Hong Kong and Macao in modern service industries, including finance, insurance, innovative culture, design, logistics and tourism.

It vows to bring the ratio of added value of the service industry in the region's GDP to around 65 percent by 2025.

Zhu Xiaodan, governor of Guangdong, said at the briefing that the Nansha New District will rely on the advanced manufacturing technology in the Pearl River Delta to expand the service industry.

"Our cooperation with Hong Kong and Macao will gradually move from processing trade to service areas, especially producer services and high-end services," he said, adding that the region has gained substantial policy support from the central government.

Under the development plan, the region also aims to incorporate the advanced urban planning, public services and social management of Hong Kong and Macao into its construction.

Fan Hengshan, a senior official with the National Development and Reform Commission, said the region will be granted certain rights to pilot and experiment with creative mechanisms to drive growth, and the government will formulate corresponding policies to support such moves.

Officials from Guangzhou said more detailed measures will emerge in the next two or three months.

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