Macao and Shenzhen to improve cooperation

Macao and Shenzhen will enhance cooperation in fields including food and drug supervision, finance and animation, said Macao's chief executive Chui Sai-on and Shenzhen major Xu Qin.

Chui and Xu signed six cooperative agreements on Jan 8 at the annual Shenzhen-Macao cooperation meeting.

According to Chui, the two cities will enhance cooperation to improve the livelihoods of the people, and work together in a number of areas, including food inspection and quarantine, drug supervision, education, trade and financing. It will also tighten cooperation with Shenzhen's Qianhai Bay economic zone, an experimental industry zone focusing on finance, IT and logistics which will offer low corporate taxes and tax-free options.

According to Xu, Shenzhen's GDP in its cultural industry increased 25 percent in 2012 from the previous year, and makes up 9 percent of the city's GDP.