Guangdong-Macau Cooperative Development Fund Management Co. has signed an investment contract with Zhuhai Da Heng Qin Property Co., Ltd – a subsidiary of Hengqin New Area State-owned company, Zhuhai Da Heng Qin Investment Co. Ltd – that will see it invest RMB2 billion to ensure completion of Hengqin Science City Phase I by 2021 and the inception of Phase II.

Hengqin Science City is located in the core of Hengqin New Area’s R&D base and takes advantage of a traffic artery system to its northwest. As previously reported by Hengqin Record, construction of Phase I began on 24 August 2018. It is to be an R&D talent magnet as well as a logistics and information center.

After Phase II is operational, the project is to be a unique and leading innovative park in China as well as a world-class urban scientific and technological park. This phase will occupy 39.8 hectares and design planning is nearly finished.

The Guangdong-Macau Cooperative Development Fund was jointly initiated by the Guangdong and MSAR Government in May, raising RMB20 billion from the Fiscal Reserve in the form of a Qualified Foreign Limited Partner (QFLP). The Fund will operate in a market-oriented manner and invest in high-quality key projects including those related to the Greater Bay Area effort and beneficial to the economy and livelihood of the two regions, as well as investing in infrastructure around free trade zones in Guangdong.

The MSAR Government will assess the operations and performance of the Fund before deciding on the possibility of further cooperation.