The regional gross domestic product (GDP) of the Guangdong-Macau In-Depth Cooperation Zone in Hengqin in the first half of the year stood at RMB 22.393 billion (MOP26.8billion/US$3.31billion), showing a year-on-year increase of 2.5 per cent. Official data also indicates that 391 Macau-funded enterprises were newly registered in the Zone, accounting for 19 per cent of the total number of newly registered firms in the first six months.
According to the data released by Statistics Bureau of Hengqin, the cooperation zone’s regional GDP in the first half of the year was RMB 22.393 billion, making a year-on-year increase of 2.5 per cent, of which the primary industry accounted for 0.02 per cent of the total, the secondary industry contributed 10.8 per cent to the GDP, and the tertiary industry constituted for 89.2 per cent of the total.
The financial sector’s GDP constituted for the highest proportion of the total in the first six months, which stood at RMB 8.217 billion and accounted for 36.7 per cent of total, making an increase of 11 per cent year-on-year.
Meanwhile, the tax revenue from the financial industry in the cooperation zone in the first six months stood at around RMB 7.5 billion, showing a year-on-year increase of 31.3 per cent, which accounted for 38.1 per cent of the Hengqin government’s tax revenue.
In the first half of 2022, the total foreign trade volume of the cooperation zone was RMB 16.227 billion, a year-on-year decrease of 32.7 per cent, of which the export value was RMB 8.952 billion, a year-on-year decrease of 37.4 per cent, and the import value stood at RMB 7.275 billion, a year-on-year decrease of 26.0 per cent.
Some 2,112 enterprises were newly registered in Hengqin in the first half of the year, including 391 Macau-funded enterprises, which accounted for 19 per cent of the total number of newly registered enterprises.
As of the end of June, a total of 54,350 companies were registered in Hengqin, including 4,934 Macau-funded enterprises, accounting for nearly 10 per cent of the total.
The economic indicators data also shows that in the first half of the year, the cross-border RMB settlement volume in Hengqin stood at RMB 154.3 billion, a year-on-year increase of 21.1 per cent.
Also, by the end of June, the transaction volume of the cross-border wealth management connect scheme in the cooperation zone reached RMB 30.2 million, of which Macau-related business accounted for more than 90 per cent of the total.
The cross-border wealth management connect scheme allows Hong Kong and Macau residents to invest in onshore Chinese investment products through banks in the Greater Bay Area, while residents of nine cities in Guangdong province can invest in Hong Kong and Macau wealth products through local lenders.
