As an unprecedented cross-regional cooperative fund project, the Guangdong-Macao Cooperation and Development Fund (hereinafter referred to as the Guangdong-Macao Fund) has finally been launched after more than three years of communication, coordination, and negotiation, and the fund has now completed its registration procedures.
On August 22, the "New Era · New Platform · New Opportunities" — "Belt and Road" Large-Scale Online Theme Interview Campaign Entering the Guangdong-Hong Kong-Macao Greater Bay Area visited Nam Yue (Group) Co., Ltd. in Macao. Nam Yue Group is an economic institution stationed in Macao by the People's Government of Guangdong Province, wholly owned by the provincial government, and serves as the general business agent in Macao for Guangdong's import and export companies and economic enterprises. It was precisely under the active promotion of Nam Yue Group that the Macao SAR Government launched relevant work in 2015 to invest fiscal surplus funds in infrastructure and key project construction in Guangdong.
Zhao Wei, General Manager of Nam Yue Group, said in an interview with Yicai that within the Guangdong-Hong Kong-Macao Greater Bay Area, although constrained by land and population, Macao's production factor conditions for developing industry are not favorable, its fiscal funds are very strong, its platform advantages in the world are also very obvious, and in addition it has extensive connections with Portuguese-speaking countries. These advantages can fully complement those of other regions in supporting the construction of the Greater Bay Area.
In February 2015, the Guangdong-Macao high-level meeting proposed the idea of the Guangdong-Macao Fund. In 2016, the Guangdong-Macao Cooperation Joint Conference reached a consensus on this matter. In June 2017, Guangdong Yueao Cooperation and Development Fund Management Co., Ltd., jointly established by Nam Yue Group and Hengjian Company, settled in Hengqin, Zhuhai, and is responsible for the management and operation of the Guangdong-Macao Fund. In December 2017, the Guangdong-Macao Fund management company completed manager registration with the Asset Management Association of China.
On May 4, 2018, the Guangdong-Macao Cooperation and Development Fund was officially signed, marking that the Guangdong-Macao Fund was about to be officially put into operation. According to the cooperation agreement, the term of the Guangdong-Macao Fund is 12 years. The Macao side, as a financial investor, contributes RMB 20 billion from fiscal reserves, gradually expanding to RMB 100 billion, with funds arriving in installments.
It is reported that the Guangdong-Macao Fund will mainly invest in infrastructure and key projects within Guangdong Province, as well as high-quality projects related to the construction of the Guangdong Pilot Free Trade Zone and the Guangdong-Hong Kong-Macao Greater Bay Area that are conducive to the economies and livelihoods of both sides. On June 22 this year, the Guangdong-Macao Fund completed project signing with Guangdong Provincial Communications Group, planning to contribute RMB 1.4 billion to invest in equity of Zihui Expressway Co., Ltd., with the funds to be used for the Heyuan-Zijin to Huizhou-Huiyang section of the Heyuan-Huizhou-Dongguan Expressway project.
At present, the Guangdong-Macao Fund has completed registration procedures and made an initial capital contribution of RMB 2 billion, with subsequent funds to arrive in installments according to project progress.
The Hengqin New Area of Zhuhai previously stated that, constrained by different social systems, legal systems, and financial systems, there are many obstacles to capital flow among Guangdong, Hong Kong, and Macao. This cooperation, conducted through the establishment of a foreign-invested equity investment limited partnership by Macao fiscal funds together with domestic enterprises, has effectively solved this problem. The establishment of the Guangdong-Macao Fund has very important demonstrative significance in breaking through capital flow bottlenecks in the Guangdong-Hong Kong-Macao Greater Bay Area and innovating the model of Guangdong-Macao financial cooperation.
Nam Yue Group likewise believes that the Guangdong-Macao Fund will play a pioneering and demonstrative role in China. At the same time, as a landmark cooperation matter between Guangdong and Macao, the Guangdong-Macao Fund will also make positive contributions in promoting infrastructure connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area, supporting the construction of major platforms, cultivating emerging industries, and jointly building a high-quality living circle that is suitable for living, working, and traveling, thereby linking the development of Macao and Guangdong more closely together.