Last Updated: February 9, 2023
Following our spotlight on Zhuhai, this blog will focus on Hengqin and the major developments in this region.
Situated on the west bank of the Pearl River estuary, Hengqin is a 106.46-square-kilometer coastal island of Zhuhai in Guangdong Province. Adjoining Macao at less than 200 meters, this island was declared a New Area to enhance economic relations with Hong Kong and Macao.
On Aug. 14, 2009, the State Council approved a proposed plan for the overall development of Hengqin and Hengqin will enjoy more preferential policies than the previous economic zones in Guangdong Province. The Hengqin New Area was officially established on Dec. 16, 2009. In the ensuing years, it has enjoyed great economic expansion with the support of preferential policies including high tax rebates and 24-hour customs clearance.
The Hong Kong – Zhuhai – Macau Bridge will connect Hengqin with Macao and Hong Kong. When it is completed, it will only take about five minutes to drive to Macau and 40 minutes to drive to Hong Kong.
Hengqin’s Major Investment Projects
With its strategic location and robust economic policies, Hengqin is positioned to become a hub of innovation, technology, and sustainable development.
1. The Hengqin Campus Of The University Of Macau
In January 2009, Vice President Xi Jinping declared that Hengqin Island would be well-developed under the strategy of the central government. Subsequently, as a landmark of the Guangdong-Macao cooperation project under the framework of “One Country, Two Systems”, the Hengqin Campus Of The University Of Macau was launched.
After three-and-a-half years of construction, the campus was completed and handed over to the Macao Special Administrative Region (MSAR) government in 2013. In comparison to the old campus, the newly-constructed campus is about 20 times bigger, occupying an area of 1.0899 square kilometers and a floor space of 820,000 square meters. Macau-based students would gain access to the new campus via an underwater tunnel without the usual immigration checks.
2. The Traditional Chinese Medicine Science and Technology Industrial Park
As the first project implemented under the Framework Agreement on Cooperation between Guangdong and Macao, the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macao (hereinafter referred to as “GMTCM Park”) was officially launched in Hengqin in April 2011. The park covers an area of 500,000 square meters, with a total development area of about 1.4 million square meters.
Since the completion of the incubation area of GMTCM Park at the end of 2018, a total of 233 enterprises have been registered in the park, among which 61 are Macau-based enterprises fostered through GMTCM Park, making up 26.18% of the whole.
3. Chimelong Ocean Kingdom
After the approval by the National Development and Reform Commission, Hengqin has become the third international tourism island following Hainan and Pingtan, which is a milestone for the high-quality development of China’s tourism industry.
Chimelong Ocean Kingdom, the biggest ocean theme park in the world, has five Guinness World Records, including the largest acrylic panel, the largest aquarium, the largest aquarium tank, the largest aquarium window, and the largest underwater viewing dome.
The park was officially operated in 2014 with a wide range of amusement rides, animal shows, as well as the world’s largest oceanarium with a total of 48.75 million liters of water.
4. Shizimen Central Business District
On 30th October 2014, the Zhuhai Municipal Government officiated the grand opening of the new Zhuhai International Convention and Exhibition Centre, being the first phase of the Shizimen Central Business District in China.
Shizimen Central Business District covers an area of approximately 5.77 km², with a planned build-up area of about 11 million m², involving a total investment of over RMB 100 billion.
With very close cooperation among Guangdong, Hong Kong and Macao, China’s second-to-none offshore financial center will be created in Hengqin, which focuses on the development of international financial services, international business services, international trade, convention & exhibition and headquarters industries. The area will undoubtedly become a platform for an international, waterfront eco-friendly type of modern service industry and a powerhouse driving the economic development of Hengqin New Zone and the western bank of Pearl River Estuary. With these, Shizimen CBD will fulfill its role as the pioneer for the national development strategy for Henqin New Zone.
5. Hengqin International Financial Center
The Hengqin International Financial Center (Hengqin IFC) is located on Hengqin financial island and is classified as comprehensive mix-used land. The project is planned to include Grade A offices, conferences, exhibition amenities, business apartments, and commercial services.
At 339 meters tall, Hengqin IFC ranks as the 93rd highest building in the world. Inspired by “The Nine Dragons”, a famous stroll of Chinese painting from the Song Dynasty, the design embodies the convergence of energy in the architectural form. It symbolizes new life that breaks through boundaries and continually grows into an imposing power. With four vertical blocks shooting up to the sky and merging into the building, the tower itself becomes a symbol of generating talents and resources to create a new metropolis within the Greater Bay Area.
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