Trade Development Bureau of the Ministry of Commerce’s participation in BEYOND Expo sends important message

ETC

BEIJING, Nov. 11, 2021 /PRNewswire/ — The BEYOND International Technology Innovation Expo (BEYOND Expo) hosted by the Macao Technology General Association will be held at The Venetian Macao on December 2nd – 4th. As a partner, the Trade Development Bureau of the Ministry of Commerce (TDB) will organize mainland enterprises to participate in the expo. Genertec China P&T Appliances supports TDB to organize.

The premiere of BEYOND Expo will be held at Cotai Expo, The Venetian Macao between December 2nd and 4th. The purpose of the expo is to further improve close collaborations between the Greater Bay Area and the countries along the “Belt and Road”, which will together promote the construction of digital infrastructure in the Asia-Pacific region to achieve interconnection as well as mutual win and development. It is worth mentioning that the TDB will organize groups of mainland enterprises to participate in the expo. The reasons behind it are very profound and strategic.

Opportunities and more opportunities

The world today is undergoing a major change unseen in a century. The COVID pandemic has accelerated the evolution of this major change. In response, China has proposed to accelerate the formation of a new development pattern of “dual circulation”, which brings major historic opportunities for Macao.

According to the “Overall Plan for the Construction of the Hengqin Guangdong-Macao Intensive Cooperation Zone” recently issued by the Central Committee of the Communist Party of China and the State Council, China must accelerate the development of science and technology and improve the distribution of high-end manufacturing industries in the Guangdong-Hong Kong-Macao Greater Bay Area. In response, Macao will build a batch of scientific and technological infrastructures urgently needed for development, organize and implement international big science plans and projects, create high-standard demonstration base for production-study-research at universities such as the University of Macau and Macau University of Science and Technology, build a technology innovation and transformation center, and promote the construction of an important pillar for the international science and technology innovation center of the Guangdong-Hong Kong-Macao Greater Bay Area at the cooperation zone. In addition, Macao will also vigorously develop integrated circuits, electronic components, new materials, new energy, big data, artificial intelligence, Internet of Things, and biomedicine industries. The construction of a microelectronics industry chain for special chip design, testing and inspection will also be accelerated. Furthermore, Macao will build an artificial intelligence collaborative innovation ecosystem, create Internet Protocol Version 6 (IPv6) application demonstration projects, fifth-generation mobile communications (5G) application demonstration projects, and next-generation Internet industry clusters.

With policy guidance plus high-tech industry clustering, the Greater Bay Area is without a doubt expecting a bright future!

Creating dual circulation strategic pivot under “one country, two systems”

Dual circulation, back and forth, shall never end. Assuming that during the “13th Five-Year Plan”, Macao’s main goal was to participate in the “Belt and Road” Initiative, to build a “China and Portuguese-speaking countries business cooperation service platform”, and to integrate into the regional collaborations, the new “14th Five-Year Plan” goal will focus on continuing the construction of “one center, one platform, one base”, especially enhancing Macao’s functions of facilitating domestic circulation and connecting domestic and international dual circulation as its new contributions to China’s reform and opening up in the new era.

Taking finance as an example, the “Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area” proposes to support the development of special financial services such as leasing in Macao, look into the establishment of a RMB-denominated securities market, a green financial platform, and a Sino-Portuguese financial service platform in Macao, and explore the construction of Macao-Zhuhai cross-border financial cooperation demonstration zone, etc. According to the “Survey on Future Talent Demand in Macao’s Financial Industry” conducted by the Commission for Talent Development of the Institute of Sustainable Development of Macau University of Science and Technology in 2020, the average demand for the number of employees in the financial industry in the next three years is 7,281, with an estimated talent gap of 446. In the next six years, the average demand for employees in this industry is 7,740, with an estimated talent gap of 905.

The development of modern finance and the establishment of a cross-border financial demonstration zone can not only effectively promote the collaborations between China and the countries along the “Belt and Road” as well as the international and domestic “dual circulation”, but also bring in highly skilled professionals for Macao to moderately develop its modern finance industry. Talk about killing 2 birds with 1 stone!

Policies, industries, and talents are in place. Only “export” is missing

During the early stage there was policy guidance. During the middle stage, the industry clusters began to appear, and the influx of talents further promoted the development of relevant industries. What comes next is mass production and export. The “Guangdong-Hong Kong-Macao Greater Bay Area Development Plan Outline” clearly proposes to support GuangdongMacao collaboration in the construction of a high-quality imported consumer goods trading center and build a high-quality consumer goods trading industry ecology. In addition, it proposes to build a Sino-Portuguese international trade center and an international hub port for digital trade, promoting the digital transformation of traditional trade.

Not only that, in recent years, as consumer demand has presented a trend of individualization and diversification, and consumption of related new products and services has grown rapidly, China has paid more and more attention to the role of consumption, especially high-quality consumption, in promoting high-quality economic development. The “14th Five-Year Plan” outline also clarified the expansion of domestic demand as the strategic basis for building a new “dual circulation” development pattern.

Just like China International Import Expo in Shanghai and China International Consumer Products Expo in Hainan, there will also be international high-quality expos at the Hengqin Guangdong-Macao Intensive Cooperation Zone and a high-quality imported consumer goods trading center is to be built. The significance of these measures needs no further explanation. As a result, it is not surprising that the Trade Development Bureau of the Ministry of Commerce will organize a delegation to participate in the BEYOND Expo.

As is known, the BEYOND Expo is hosted by the Macao Technology General Association, with a total exhibition area of nearly 50,000 square meters, covering four major areas – influential technology, life sciences, new infrastructure, smart cities and life and future science. The expo has attracted exhibitors from the world’s 500 large multinational companies, unicorn innovation companies and new start-ups, and has invited global ecological partners, government agencies and national ambassadors, as well as global capital and media to participate in this international event.

Over 20,000 scientific and technological innovation professionals around the world will participate through online and offline platforms. There are dozens of forums taking place concurrently, with topics covering women in science and technology, smart medical care, new developments in smart medical disciplines, construction technology, smart travel, green economy, medical and medical technology and equipment innovation forums, metaverse, artificial intelligence, smart logistics, agricultural technology, innovative medicine and biomedical technology forums, angel investment summits, smart life, food technology, robotics and other vertical fields, as well as international investment and financing summits, international capital matchmaking, innovation roadshows, etc. The content is expected to be rich and diversified.

The person in charge of the delegation said: “With the advantages of the system of “one country, two systems” and the support of the central government, we believe that Macao will definitely become a gateway city for communication between domestic and foreign technology companies, and that Macao will have a broader development prospect.”

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