Authorities have unveiled the leadership structure for the Macau Hengqin In-Depth Cooperation zone, which will be jointly managed by Macau and the Mainland.
A management committee will sit above an executive committee that will oversee nine operating bureaus, including legal affairs, economic development and urban planning and construction, local media reports.
Macau Chief Executive Ho Iat Seng will be a joint director in the administrative body, along with Ma Xingrui, the governor of Guangdong province.
The zone is designed to promote greater cooperation between Macau and Guangdong and will offer tax incentives and ease border restrictions to encourage investment.
“The plan sets the goal for the zone to fully demonstrate the strong vitality and strength of “one country two systems” by 2035 when the goal of Macau’s appropriate economic diversification will basically be realized,” state-run news agency Xinhua said announcing the initiative.
The types of industry deemed appropriate include sci-tech research, high-end manufacturing, Traditional Chinese medicines, modern finance and culture and tourism.