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Decoding a 25-year economic, social miracle

City's success linked to proximity to mainland, strong economic integration

By WILLIAM XU in Hong Kong | China Daily | Updated: 2024-12-18 08:24
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Children play in Seac Pai Van Park in Macao on Nov 29. [Photo/Xinhua]

Nurturing industries

The zone, jointly administered by Zhuhai and Macao authorities, offers land resources and favored policies to nurture key emerging industries pivotal to Macao's economic diversification strategy. These industries include high-end manufacturing, traditional Chinese medicine, and modern financial services.

As of June, the zone had over 17,000 companies active in emerging sectors, a 20.1 percent increase compared with the end of 2021.These enterprises contributed 47.1 percent to the zone's GDP.

The Macau New Neighborhood, a 190,000-square-meter community integrating residential buildings, schools, healthcare institutions and elderly care centers, has been built in the cooperation zone to provide quality living spaces and services for Macao residents.

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