Guangzhou, China, 11 Dec – Two-way exchanges between the Macau Special Administrative Region and the neighboring Chinese province of Guangdong increased by 29.6 percent in the first nine months of 2006 to reach a total value of US$2.07 billion, according to statistics from the Guangdong regional government.
A Guangdong official responsible for Macau and Hong Kong affairs said companies from the SAR are using the province to do business due to its strategic location and low costs.
Macau also benefits from zero customs tariffs under the terms of the Closer Economic Partnership Agreement (CEPA) established between the SAR and mainland China.
The surge in bilateral trade between the two regions is being accompanied by rising investments and deepening of economic cooperation between the two regions, according to Chinese state news agency Xinhua.
Official Guangdong statistics show that firms from Macau invested US$340 million in the province in the first ten months of 2006, a year-on-year increase of 32.7 percent.
Companies from Guangdong invested some US$127,000 in Macau in the same period. (macauhub)