Melco International, the Hong Kong-listed parent company of Macau casino operator Melco Resorts, has decided to step across the border by investing in a non-gaming project in Zhongshan. In a joint venture with Hong Kong-listed property giant Agile Group, Melco will build and operate a theme park within the development, which is a “premium residential, entertainment and hospitality mixed-use complex,” carrying an initial investment of 4 billion yuan in the land.
The land plot in Zhongshan covers an area of approximately 504,000 square metres (5.43 million sq feet), and includes various plots with land-use authorisations ranging from 40 years to 70 years, depending on specific utilisation, according to a separate filing to the Hong Kong bourse.
Although fellow gaming group Galaxy Entertainment has a plot of land in neighboring Hengqin, a special zone known as a New Area, it has not yet started work on the project. Melco would be the first of Macau’s gaming license-holders to open an operate a resort on the mainland once the project is completed in 2025.
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birthplace of Sun Yat-sen is probably the Greater Bay’s most livable city, a
magnet for Hong Kong and Macau retirees. But it has modern ambitions, too.
Continue reading Zhongshan: Cultural icon goes hi-tech
After nearly a year of operation, the Hong Kong-Zhuhai-Macao Bridge (HZMB) is now well-established as the final piece of the “ring” enclosing the Greater Bay Area’s 11 cities. This being the region that never sits still, therefore, it’s time to look at what comes next for other major projects linking the eastern and western sides of the Greater Bay.
Continue reading Crossing the Bay: Bridges, Tunnels and Trains
The GBA gets a major boost at the end of this month, when the north-south Intercity Railway opens between Shenzhen, Dongguan and Guangzhou, as we reported recently. But in five years’ time, the much bigger infrastructure project of the main east-west high-speed railway connection will open. This has been confirmed by provincial authorities. The Shenzhen-Jiangmen section of the Shenmao Railway has been given the official green light to begin construction by the end of the year, with completion set for late 2024.
It cannot be emphasized enough how this railway connection will change the economic structure of the GBA. Running from Shenzhen’s under-construction Xili Station, one of the city’s four major railway hubs, it will run across (and under) the mouth of the Pearl River, linking the manufacturing powerhouses of Shenzhen and Dongguan on the east with Nansha (in the middle) and Zhongshan and Jiangmen in the west.
The Shenzhen-Nansha section will chug along at a sedate 200km/h, while the Nansha-Jiangmen section will allow speeds of up to 250km/h. There will only be seven main stations along the route, which means express trains can get across the Bay more quickly at certain times of the day.
The line will essentially make Zhongshan and Jiangmen outer neighborhoods of Shenzhen. And it will boost Nansha, being right in the middle, as a central hub as it strives to build a new center of gravity for the entire Bay (more on this tomorrow in our Nansha overview).
Read more (in Chinese).
As a traditional manufacturing base, Zhongshan has a collection of clusters in home appliances, lighting and apparel. That might not set anyone’s hair on fire, given how the Greater Bay Area has been turning gung-ho on industrial upgrading since the release of the masterplan in February. However, they are just what is needed by some of the country’s biggest e-commerce behemoths.
Continue reading E-commerce giants move into Zhongshan
Zhongshan has joined the GBA talent wars, recently releasing a plan designed to keep up with its bigger neighbors and attract talented young people from Hong Kong and Macao. It will include – you guessed it – building an “innovation and entrepreneurship platform for young talents from Hong Kong and Macau”. The plan aims to establish an incubator by next year, presumably in temporary space while it constructs a dedicated Youth Innovation Entrepreneurship Park by 2025.
On offer will be the usual menu: subsidies for rent and startup businesses, apartments for the smartest, and other incentives. The city plans to build a well-rounded supply chain centered on these youth from the two SARs.
[Greaterbayinsight.com will be publishing a special introductory report on the lively, lovely city of Zhongshan, birthplace of modern China’s founding father, Sun Yat-sen, very soon. Keep an eye out for it.]
Read more in Chinese.
Zhongshan has come in a close second behind Dongguan for growth of exports in the first four months of the year. At RMB61.92 billion, exports were up 11.9% YoY, driven by private enterprises.
Imports, however, were down 10.2% YoY at 15.29 billion yuan.
Overall trade by foreign-invested enterprises was down 1.2% to RMB44.63 billion yuan, while that of private enterprises was up 24% at RMB28.3 billion. State-owned enterprises were down 2.2% to RMB4.27 billion.
Mechanical and electrical products still dominated, rising 10.3% and accounting for 73.4% of total exports. Traditional labor-intensive products such as furniture, toys, luggage, shoes, plastic products, textiles, clothing, etc., rose 17.7%. Lamps, lighting fixtures and parts were 2.69 billion yuan, an increase of 35.3%.
Zhongshan-based Zhongzhi Pharmaceutical Holdings has successfully obtained approval from Canada’s non-prescription and natural health product bureau for two Chinese medicinal drinks it created.
Chinese medicine are usually regarded as healthcare products or food products in overseas markets. To win approval as an OTC drug, Zhongzhi had to provide a large amount of research data to prove its safety, effectiveness and controllability, including efficacy tests, quality standard studies, homogeneity evaluation studies, research papers published at home and abroad as well as records of relevant Chinese medicines in ancient and modern books.
As more Chinese medicine companies looking to go global, following a more standardized scientific research procedure has become the industry norm.
In a video interview with Southcn.com, Liang Weihua, director-general of the development and reform bureau of Zhongshan and director of the GBA Affairs office of Zhongshan, shares how Zhongshan will make use of its geographic, cultural and industrial advantages to establish itself as a modern costal city in the GBA.
Watch the video (with subtitle).