Monday, 3 December 2007

Zhuhai Macau Cross-border Industrial Zone

The zone was set up as a state-level development zone, covers an area of 0.3 km2 in Zhuhai and 0.1 km2 in Macau. It implies the same favorable policies as the free trade zones, which officially went into operation as a bonded area on 8 December 2006.

The industrial zone is divided into two sections, the Zhuhai Park which comes under the administration of the Zhuhai government and the Macau Park which comes under the administration of the Macau SAR government. The two parks are separated by a waterway and are connected by a special customs port channel.

In 2003, mainland China and Macau signed the "Mainland and Macau Closer Economic Partnership Arrangement" (CEPA), which is an FTA-like arrangement for closer economic and trade links. Under the CEPA, Macau products are implemented with zero tariffs. Later in 2005 and 2006, the two parties signed more supplementary agreements for facilitating trade and investments. After the implementation of CEPA, more investments from Macau and rising foreign trade value with Macau are expected.