Macau firms on the rise in Hengqin

B connections between Macau and Hengqin are on the rise, with the Hengqin government reporting a significant increase in Macau-funded enterprises.

By the end of the third quarter, there were 6,552 Macau-backed businesses operating in Hengqin, marking an 11.8% year-on-year growth.

This surge means Macau enterprises now represent 11.6% of the approximately 55,700 businesses on the island.

Hengqin’s economic performance is also noteworthy, as its gross domestic product (GDP) grew 7.1% in the first three quarters of 2024, reaching RMB37.349 billion.

The industrial sector saw remarkable growth, particularly in electrical machinery manufacturing, which skyrocketed 91.4%, while computer and electronic equipment manufacturing rose 35.1%.

The service sector also thrived, expanding 6.7% year-on-year.

Key growth areas included information technology services (up 46.9%) and transportation services (up 44.7%).

More than 20,000 residents from Macau now call Hengqin home, with many living in the newly established Macau New Neighbourhood housing project.

This development caters specifically to Macau residents, providing essential services such as education and healthcare. LV

Macau firms on the rise in Hengqin

Macau firms on the rise in Hengqin

Macau firms on the rise in Hengqin

Macau firms on the rise in Hengqin

Macau firms on the rise in Hengqin