The trade between the Chinese mainland and Macao Special Administrative Region (SAR) reached 3.84 billion U.S. dollars, a 4.3-fold increase since Macao's return to the motherland, Ministry of Commerce spokesman He Yadong said at a press conference in Beijing on Thursday.
Through the Comprehensive Economic Partnership Agreement (CEPA) and associated agreements, the mainland has fully liberalized goods trade with the Macao SAR, and largely liberalized services trade, said the spokesman.
In 2023, the trade between the Chinese mainland and Macao reached 3.84 billion U.S. dollars. By October this year, the mainland received 23.93 billion U.S. dollars in direct investment from Macao, while investing 14.19 billion U.S. dollars in Macao, the spokesman said.
"On October 10, the mainland and Macao signed a revised CEPA agreement. The revision focuses on key sectors in Macao's development, including health care, finance, sci-tech innovation, and tourism. The revision further lowers or eliminates entry barriers for Macao service providers. Certain liberalization measures will be implemented first in the Greater Bay Area, to further align mechanisms and regulations within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)," said He.
Mainland-Macao trade quadruples in 25 years
