The Guangdong-Macao Cooperation & Development Fund has invested 2 billion yuan ($287 million) to ensure completion of Hengqin Science City Phase I by 2021 and the inception of Phase II.

The fund was established by Macao and Guangdong in May with 20 billion yuan ($2.87 billion) for the first phase to encourage infrastructure projects and enterprises. The aim is to strengthen regional interconnectivity, paving way for development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Signing ceremony [Photo courtesy public WeChat ID: zhdhq629]

Guangdong-Macao Cooperative Development Fund Management Co signed the investment contract on Oct 25 with Zhuhai Da Heng Qin Property, the developer and subsidiary of Zhuhai Da Heng Qin Investment.

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. It is to be an R&D talent magnet as well as logistics and information center.

After Phase II is operational, the project is to be a unique and leading innovative park in China and world-class urban scientific and technological park. This phase will occupy 39.8 hectares (98.5 acres) and design planning is nearly finished.