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Caixin

China to diversify Macao's economy with Bay Area zone

Hengqin, Guangdong Province, will be site of in-depth cooperation

China's Communist Party and the State Council announced a plan to develop a new "cooperation zone," managed by officials from Macao and Guangdong Province, to broaden the area's economy.    © Reuters

China's top leadership plans to establish a new "cooperation" zone in Hengqin, southern China's Guangdong Province, to foster new industries on the island and lessen neighboring Macao's economic dependence on gambling.

The plan to build a Guangdong-Macao in-depth cooperation zone, which the Communist Party of China (CPC) and the State Council issued Sunday, aims to provide a new place for Macao residents to live and work, and enrich the practice of "one country, two systems," said the state-run Xinhua News Agency.

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