Following our spotlight on Zhuhai today’s blog will focus on Hengqin and the major developments of this island. Hengqin is a 106.46-square-kilometer coastal island tucked into the southern corner of the city of Zhuhai in Guangdong Province. Adjacent to Macao, which is no more than 200 meters away, the island has been selected as a New Area in order to enhance economic ties with Hong Kong and Macao.
On Aug. 14, 2009, the State Council approved a proposed plan on 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
Dream works and Time Warner to build the biggest theme park in the world in Zhuhai
Construction has started on a theme park in Zhuhai in Guangdong province, funded by a US$32 billion joint investment from Time Warner and DreamWorks Studios. The first stage of the investment which includes 80 billion yuan (US$13 billion) has already been approved and has started.
The park will occupy 10 square kilometers, making it the largest theme park in the world, and Chinese state-owned hydropower engineering and construction firm Sinohydro, the parent group of listed firm China Power, will build the basic infrastructure for the park. Zhuhai’s Hengqin island is already home to Chime-Long Paradise Amusement Park, so the new park will make Zhuhai a major pull for international tourists.The Hong Kong-Zhuhai-Macau Bridge is expected to play an important role in connecting tourist from Hong Kong and Macau to the Zhuhai. Zhuhai will benefit immensely from the construction of this amusement park, creating a multiplier effect over the area of Zhuhai.
Shizimen CBD 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. It will undoubtedly become a platform for 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.
Hengqin Finance Industry Service Base
This project covers 130,000 square meters, including a covered space of about 50,000 square meters. It is composed of 18 office buildings, one finance street service center and one restaurant center. The service base provides enterprises with independent, high-quality, garden-like offices and operation outlets complemented by excellent supporting service facilities. Two free shuttle routes have been opened between the Finance Street and the urban area of Zhuhai. To date, more than 180 financial institutions have opened offices in the area.
Xiangzhou Culture Street
The construction of this street involves about 1 billion yuan (roughly US$ 161.5 million) in investment from Zhuhai Jingfu Tourism Development Co., Ltd. It plans to develop the area into a large cultural tourism zone that centers around traditional folk craft and folk customs and integrates leisure, tourism, shopping, dining and exhibition facilities.
The New Campus of the University of Macau
This university is a demonstration project exploring new modes of Guangdong-Macao cooperation under the “One Country, Two Systems” policy. Macao is leasing the land where the new campus is located from Hengqin. The new campus was governed by the laws of the Chinese mainland during its construction, but it is now under the governance of the Macao Special Administrative Region.
The campus is one of the key collaborative projects between Guangdong and Macao, occupying an area of 1.0899 square kilometers and a floor space of 820,000 square meters. Its cornerstone-laying ceremony was held on Dec. 20, 2009. The new campus consists of gymnasiums, libraries, 10 residential colleges and teacher and student dormitory buildings. It is linked to Macao by a 1.5-km tunnel. Upon completion, the new campus will be able to accommodate 10,000 students, with a long-term goal of accommodating 15,000.
It received its first students in September 2013.
Gas energy supply project of Hengqin island
This project encompasses a total area of 360,000 square meters. The first phase saw the construction of two 390,000kW 9F gas-steam combined cycle units with heating-power-cooling production capacity of 400 tons per hour, requiring 3 billion yuan (roughly US$ 483.9million) in investments. There are plans to build eight 390,000kW 9F gas-steam combined cycle units in the area in the future. The project has already become a reliable and economical power supplier to the China Southern Power Grid for Macao. It is part of a new energy base that covers the whole island and features a combined supply of electricity, steam heat and water. It went into production and was completed in 2013.
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