Macau trade with Chinese interior rises more than three-fold

17 December 2009

Beijing, China, 17 Dec – Trade between Macau and the Chinese interior has risen more than three-fold in the last ten years, totalling US$2.91 billion in , the Chinese trade ministry said Wednesday.

A report published Wednesday by Chinese state news agency Xinhua also noted that since 2006 all products manufactured in Macau had been exempt from taxes, which “made industrial restructuring easier” for the territory.

The Chinese mainland is currently Macau’s principal trading partner and the third biggest investor, with direct non-financial investment of US$623 million, the trade ministry said.

Most of Macau’s banks now operate with yuan and last October deposits in the currency of the People’s Republic of China totalled 1.77 billion (US$258 million), the trade ministry said.

Macau came under Chinese administration on 20 December, 1999, following the same model adopted around a year and a half before for Hong Kong, “one country, two systems,” and with the same status, of Special Administrative Region. (macauhub)