Macao and Hong Kong’s respective chief executives, Sam Hou Fai and John Lee, met on Friday to discuss advancing cooperation between the two Special Administrative Regions (SARs).
Their talk focussed on science and technology innovation, finance, traditional Chinese medicine, tourism, culture and sports, events and commerce – all areas that complement Macao’s economic diversification strategy, according to a Macao government readout.
The meeting also saw the leaders exchange views on how judicial assistance could be advanced between the two SARs, the statement read.
The meeting, held at Hong Kong’s Government House, also addressed the development of the Greater Bay Area (GBA), with both leaders agreeing on the importance of aligning regional efforts with the country’s overall development strategy.
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Recent directives from President Xi Jinping “had injected new momentum into cooperation between Hong Kong and Macao,” Sam was cited as saying.
Sam noted that despite their different development priorities, Hong Kong and Macao “complemented each other strongly.” He added that building on the two SARs’ solid foundations would lead to greater development for both regions.
Prior to the meeting, Sam and his delegation visited the Hong Kong Science Park and the Hong Kong Palace Museum, where they gained a better understanding of the neighbouring SAR’s innovation and technology development, and on how it cooperated with the mainland’s cultural and heritage sector.
Last month, in a move illustrative of their collaborative efforts, Macao and Hong Kong connected their respective bond markets. The linkage has created a cross-border investment and financing channel that enables investors from each SAR to clear, settle and hold bonds lodged in either system.
