Investment by Chinese companies in Macau has exceeded US$3 billion under the terms of the Comprehensive economic Partnership Agreement (CEPA), the Chinese deputy Trade Minister, Wang Chao, said Thursday in Macau.
During a seminar on investment policy in China, held at the World Trade Center in Macau, the deputy minister said that the central government supported Macau’s role as a bridge between China and the Portuguese-speaking countries.
Wang also said that companies from mainland China, both industrial and from other sectors, are encouraged to use Macau as a platform for business or investment in those countries.
Returning to the theme of the seminar the deputy minister said that the economic relationship between Macau and the mainland had grown and noted that in the first quarter of the year although fewer Macau companies had invested in the mainland, with a drop of 3 percent, the amount invested – around US$100 million – or 7.6 percent more than in the same period of 2012.
The Macau secretary for the Economy and Finance, Francis Tam, noted that although economic growth in the territory had slowed in 2012, it had nonetheless reached 10 percent.
Tam also noted that since the CEPA was put in place in 2004, under the terms of which goods produced in Macau can enter the mainland free of customs tariffs, trade had totalled US$400 million. (macauhub)