Beijing mulls a free trade zone linking Macao, the mainland and Hong Kong

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Beijing mulls a free trade zone linking Macao, the mainland and Hong Kong 

11 Sep 2025

Macao stands to benefit from a proposed free trade zone with Hong Kong and the Chinese mainland

Beijing is exploring the creation of a free trade zone linking the mainland with Macao and Hong Kong, Vice Commerce Minister Yan Dong announced in Hong Kong on Wednesday. The move could boost the two SARs’ international trade appeal while advancing China’s Belt and Road Initiative (BRI), RTHK reports.

Addressing a BRI summit, Yan highlighted that China’s trade with participating countries exceeded US$3.1 trillion last year, accounting for more than half of its total foreign trade. He also noted that agreements with over 50 of these countries cover areas from digital trade to clean energy – including infrastructure projects designed to support the global low-carbon transition.

“We’ll further expand the opening up of the mainland to Hong Kong in areas such as finance, telecommunications, construction and tourism, align with international high-standard economic and trade rules, and study and promote the joint building of a free trade zone between the mainland, Hong Kong and Macao,” he said.

Yan added that Beijing would back Hong Kong in signing more trade and investment agreements with overseas economies and in joining the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trading bloc, “as soon as possible.” He also stressed China’s goal of completing an upgraded free trade agreement with ASEAN by the end of this year that will create new land and sea corridors for trade.

Other senior officials at the summit underlined the importance of Hong Kong’s role in the BRI. Xiao Weiming, deputy secretary general of the National Development and Reform Commission, said Macao’s neighbouring SAR acted as a key channel for global capital into the mainland and for Chinese firms seeking overseas growth. He pledged support for enterprises from Hong Kong and the mainland to expand into Southeast Asia, the Middle East and Central Asia.

Li Zhen, vice chairman of the State-owned Assets Supervision and Administration Commission, added that state-owned enterprises were already working closely with Hong Kong partners, providing financial backing for BRI projects. He said Beijing-backed companies were ready to deepen cooperation across sectors while leveraging Hong Kong’s strengths in finance, legal services and international mediation.

https://macaonews.org/news/business/china-macau-hong-kong-free-trade-zone/

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The Chinese central government is studying the feasibility of establishing a unified free trade zone covering mainland China, Hong Kong, and Macau, vice commerce minister Yan Dong said.

He made the remarks at the opening of the two-day Belt and Road Summit in Hong Kong, local public broadcaster RTHK reported.

But Yan did not provide further details about the proposal. Currently, the three sides operate under different customs regimes, with Hong Kong and Macau designated as free ports, maintaining separate tariff and trade policies from the mainland.

Over the past decade, Beijing has established multiple free trade zones across the mainland, including in Shanghai and nearby Guangdong province, aimed at easing regulatory barriers, promoting trade flows, and facilitating foreign investment across various sectors.

Yan also said the central government would continue to support Hong Kong in deepening its connectivity with domestic and global markets, and would further expand market access for the city in key mainland sectors such as finance, construction, and tourism.

Beijing will support Hong Kong to join the Regional Comprehensive Economic Partnership (RCEP), with the aim of further integrating the city into the global trade network, he added.

RCEP is a free trade agreement comprising 15 Asia-Pacific economies, including China, Japan, South Korea, Australia, Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

Yan added China’s trade with countries participating in the Belt and Road Initiative exceeded US$3.1 trillion (MOP24.8 trillion) in 2024, accounting for more than half of the country’s total foreign trade.

Launched in 2013 by Chinese president Xi Jinping, the Belt and Road Initiative is the country’s flagship global infrastructure and trade development strategy, inspired by the ancient Silk Road and Maritime Silk Road.

Also speaking at the summit, Xiao Weiming, deputy secretary-general of the National Development and Reform Commission, China’s top economic planner, said the country’s economy would continue to grow steadily in the long term, despite external uncertainties.

Hong Kong plays a key role as a gateway for foreign capital entering the mainland and for Chinese enterprises expanding overseas, RTHK quoted him as saying.

https://www.macaubusiness.com/mainland-china-mulls-unified-free-trade-zone-with-hk-macau-commerce-ministry/

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