Hengqin and Macao as fulcrum to connect with Portuguese-speaking countries through technologies, bench-marking other bay areas
As a long-time hit and one of the focuses of this year's annual CBEC meeting, technologies in CBEC such as AI and big data are now utilized on various fronts in the CBEC sector of Hengqin and Macao. Vincent Chow, Chairman of Bringbuys Future Technology (Guangdong) Co., Ltd., emphasized the importance of understanding customer profiles across different markets through big data and AI technology, highlighting the company's strategy to match these profiles with high-quality Chinese supply chains to serve them better. The precise matching, as described by Mr. Chow, enhances purchasing power. The approach is not just about expansion; it's about targeted growth that caters to the specific needs of different markets.
Macao, with its established China-Portuguese cooperation platform, and Hengqin, as its strategic extension, are well-positioned to communicate and collaborate with Portuguese-speaking countries. China has set up the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries in Macao, which further strengthens this collaboration. The presence of business representatives from nine Portuguese-speaking countries in Macao facilitates convenient communication, providing a natural advantage for the region to engage with these nations.
This unique position is further complemented by Macao's talent pool, which understands well the legislation, accounting rules, and cultural nuances of Portuguese-speaking countries. This talent pool is instrumental in serving enterprises in the GBA and beyond through the Hengqin-Macao window. The region's natural advantage in this regard is being harnessed for GBA and nationwide enterprises to reach out to Portuguese-speaking countries, marking a significant step in the region's CBEC go-global journey.
The total import and export volume with Portuguese-speaking countries stands at approximately 220 billion, making them China's ninth-largest trading partner. This trade relationship is further enhanced by the region's use of Portugal's influence in Europe, Cape Verde and Mozambique's influence in Africa, and Brazil's in South America, to provide a wide range of products, including electronics, 3C products, new energy, photovoltaics, and drones.
The region's CBEC strategy is not limited to exports; it also imports products from Portuguese-speaking countries. Mr. Chow noted that, for example, enterprises from Brazil are now reaching out to China's domestic market through the Hengqin-Macao platform, tapping into the country's growing import demand.
Hengqin and Macao are now fully utilizing their policy and cost advantages to compete with other bay areas globally. The aim is to target competition with renowned bay areas, including the New York Bay Area, San Francisco Bay Area, and the Tokyo Kansai area.
Delve deep into characteristic categories of Macao and Portuguese-speaking countries to aid two-way cross-border e-commerce
Rock Liu, General Manager of Macau Newland Global Shopping Cross-border E-Commerce Co., Ltd., noted that the international competitive edge formed by Hengqin and Macao is not just about trade; it's about establishing an international window for influence and cooperation. The region is using AI and big data to deepen its focus on specific product categories, especially those from Portuguese-speaking countries and Macao, concentrating on products including coffee, red wine, health products, cosmetics, and so on.
Mr. Liu also noted that the product selection center of Hengqin Huafa Cross-Border E-Commerce Industrial Park is poised to become a significant breakthrough point for products from Portuguese-speaking countries. This focus on select categories and the use of technology to drive other industries forward is a strategic move that will undoubtedly strengthen the region's position in the global CBEC landscape.
In conclusion, Hengqin and Macao's technologically empowered CBEC strategy, coupled with their natural advantages and strategic focus on Portuguese-speaking countries, is set to revolutionize the region's economic outreach and global trade dynamics. As the region continues to integrate advanced technologies into its business models and leverage its unique geographical and cultural ties, the future of cross-border e-commerce in Hengqin and Macao looks promising, with significant implications for the GBA and beyond.
cnbayarea.org.cn & GDToday
