The Government signed today an agreement with the National Development and Reform Commission aimed at giving full play to Macao’s strengths in serving the “Belt and Road” initiative, and generating fresh competitive advantages for the city and its economy.

The Chief Executive, Mr Chui Sai On, and the Chairman of the National Development and Reform Commission, Mr He Lifeng, were co-signatories to the document during a ceremony held in Beijing.

The agreement is known as the “Arrangement between the National Development and Reform Commission and the Government of the Macao Special Administrative Region (SAR) for Advancing Macao’s Full Participation in and Contribution to the Belt and Road Initiative”.

Following the signing ceremony, the first joint conference to coordinate works under the new agreement was held.

Deputy Chairman of the National Development and Reform Commission, Mr Ning Jizhe, and the Secretary for Administration and Justice of the Macao SAR, Ms Chan Hoi Fan, each delivered a speech at the conference, which was chaired by Deputy Secretary General of the National Development and Reform Commission, Mr Su Wei.

The Arrangement has been formulated under the guiding principles outlined in the “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era”. The Arrangement covers matters including cooperation on financial services, economic and trade affairs, people-to-people exchanges, and cooperation between Macao and the other cities covered by the Guangdong-Hong Kong-Macao Greater Bay Area.

The Arrangement supports Macao:  in developing financial services – making use of the city’s inherent strengths – in order to support the development of the “Belt and Road” initiative; in developing as a financial services platform between China and Portuguese-speaking countries, in order to advance the internationalisation of the renminbi.

Under the Arrangement, Macao is to develop as a major transport hub and an important logistics centre of the “21st-Century Maritime Silk Road”.

It also demonstrated the Central Government’s support for the idea of Macao taking part in organisations dealing with regional trade, and in non-sovereign international professional bodies.

It is aimed at complementing Macao’s strategic roles as a world centre of tourism and leisure and as a commercial and trade cooperation service platform between China and Portuguese-speaking countries (collectively known as the “Centre and Platform” policies). These roles complement the overall development of the “Belt and Road” initiative.

High-level forums and international-level exhibitions themed on topics relating to the “Belt and Road” initiative will be hosted in Macao. The document also seeks to help develop Macao’s role as a base for multicultural exchange and cooperation with the goal of further promoting Chinese culture.

Macao will also receive backing to develop as an incubator for cultivating talented individuals bilingual in Chinese and Portuguese.

The SAR Government officials outlined the progress of work relating to Macao’s contribution to the “Belt and Road” initiative in the conference where several ideas and policies designed further to advance such effort were proposed.

The National Development and Reform Commission and other central authorities will maintain close touch with the SAR Government – including holding joint conferences on a regular basis – in order to implement policies outlined in the Arrangement and to support Macao’s participation in, and contribution to, the “Belt and Road” initiative.

Other ministries and departments of the Central Government represented at the first joint conference were: the Hong Kong and Macao Affairs Office of the State Council; the Ministry of Foreign Affairs; the Ministry of Commerce; the Ministry of Culture and Tourism; the People's Bank of China; the State-owned Assets Supervision and Administration Commission; and the China Banking and Insurance Regulatory Commission.

Macao SAR Government bodies represented at the joint conference were: the Government Information Bureau; the Protocol, Public Relations and External Affairs Office; the Policy Research and Regional Development Bureau; the Monetary Authority of Macao; the Macao Trade and Investment Promotion Institute; the Macao Government Tourism Office; and the Cultural Affairs Bureau.