According to estimation, 72.6 billion yuan ($ 10 billion) will be cost on this 29.6 km bridge, which links Hong Kong, Zhuhai and Macao.  The reclaimed island off Gongbei of Macao and the eastern artificial island for the tunnel section of Hong Kong will be connected through this bridge.

The bridge construction would begin towards the end of 2009, according to the speech of Premier Wen Jiabao at the annual session of the National People’s Congress early in March.

The bidding will decide which company is responsible for the construction design of the main body, ports in Hong Kong, Zhuhai and Macao and side-linkings in Hong Kong and Zhuhai, the bridge’s coordinative office mentioned.

The preparatory design and inquiry of the bridge’s main body started on March 13, according to a deal signed between the authorities from Hong Kong, Guangdong and Macao.

The security of the white Chinese dolphins in the Pearl River estuary was considered and the authorities reemphasized the protection of them during the construction.

Efficient measures to protect the sea environment near the estuary should be founded in any tendering reports, the office stressed.

Largest protection area for the white Chinese dolphins exists in the estuary.

Further more, as is said, since five shipping tunnels will be built under the bridge, tendering reports should also include transport safety related details.

The design should consider the lifestyle, which is set at 120 years, for the bridge, it said.

Thanks to the six-lane bridge, the drive between Hong Kong and Zhuhai will be cut down from about four hours to just half an hour.

According to Guangdong provincial government sources, in total, 18,200 freight vehicles and 1,177 passenger vehicles entered or left Hong Kong each day, while the figures for Macao were 883 and 354 respectively.

Necessary environmental and engineering studies for the bridge has been made by the Hong Kong government and an environmental effect evaluation will be done by mid-2009, said Wai Chi-sing, Hong Kong director of highways.

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A similar agreement, known as the Mainland and Macao Closer Economic Partnership Arrangement, was signed between the government of Macao SAR and the central government on October 18, 2003.

Both the two agreements took effect on January 1, 2004. Annual supplements to the agreements have also been signed between the central and Hong Kong governments.

With the aim to further open the mainland market to Hong Kong-based businesses, especially the service industry, the fifth supplement to CEPA in Hong Kong was signed on July 30 this year.

Owing to the excellent geographical advantages, Guangdong obtains significant benefits from the CEPA.

Based on recent statistics from a Guangdong industrial and commercial department, there have been more than 432,000 Hong Kong-invested enterprises in the province last February, which accounted for over 60% of its overseas invested companies.

More than a half of the province’s foreign investment capital, which was nearly $200 billion, came from Hong Kong.

Last year, 6,000 new companies from Hong Kong joined in the procession of investing in Guangdong, bringing their investment capital of more than $15 billion, while the number of Guangdong enterprises investing in Hong Kong was also increasing.

According to Hong Kong’s department of foreign trade, it is the destination of 40% of Guangdong’s overseas investment.

Many Guangdong enterprises, including TCL and Huawei, have been more competitive in the global market through the platform Hong Kong provided.

Economic cooperation in the region has lasted for 30 years since China began its reform and opening-up in 1970s. Chen Guanghan, an expert on Hong Kong and Macao at Guangzhou’s Sun Yat-sen University said that Guangdong and the Pearl River Delta seized the right opportunity to develop economic relationships with Hong Kong and Macao and archived a lot in economy.

The delta region has become the second home for many Hong Kong companies, especially those in labour-intensive manufacturing because of its offering low-priced land and labour.

Now the world market usually considers the PRD, Hong Kong and Macao as an ‘Golden Delta’, Chen said, after Hong Kong’s return to motherland and the implementation of CEPA, cooperation entered a new era.

Today Hong Kong and Guangdong are interdependent and indispensable to each other, he added.

An important result of the cooperation is that Hong Kong has become a global trading and logistic centre as Guangdong became a base of manufacturing.

Because of the opening of Guangdong, Hong Kong transferred most of its manufacturing enterprises to the province to focus on the development of service industry.

Even though the range of industries and development in Guangdong has been enlarged, the province will still focus on manufacturing, Chen said.

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Due to the global financial crisis, the province saw a decline of capital inflows from Hong Kong from January to October this year.

Yet investment in the tertiary industry rose in the past 10 months.

Based on the statistics released by the provincial economy and trade commission of Guangdong, 4,479 Hong Kong-invested projects was approved during the last 10 months in this province, which decreased 14.5% year-on-year.

Recently, a plan has been released to budget 2 billion yuan in the next two years to help Hong Kong and Macao-funded SMEs weather through the tough time.

Governor of Guangdong Province Huang Huahua said at the conference on the province’s SME development that Guangdong will adopt a series of measures to help the processing trade—especially those funded by Hong Kong and Macao investors—expand their businesses.

The budgets of 1 billion yuan for 2009 and 2010 will be used to subsidize processing trade enterprises to upgrade and relocate them in parks for industrial transformation while Hong Kong and Macao-funded enterprises will get priority, the governor added.

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The largest trade and economic annual event in the city will be held at The Cotai Strip TM Convention and Exhibition Center at the Venetian Macau from October 23 to 26, said Macao Trade and Investment Promotion Institute (IPIM).

The fair has contributed a lot to Macao in several aspects, such as investment, trade and cooperation with global business partners.

This year’s MIF will see a wider range of exhibiting pavilions, with the main displaying booths featuring companies from the mainland, European Union, and Portuguese-speaking countries. There will also be economic conferences and forums on cooperation in the convention and exhibition industry aiming to bring in visitors from various countries and regions.

It is said that IPIM would provide financial support to local small and medium-sized enterprises (SMEs) for their participation in the 13th MIF. The exhibition will serve as a platform for SMEs to promote their products and seek investment opportunities.

In order to help more SMEs to get more opportunities through the MIF, the IPIM will grant each exhibition booth of nine sq m $725.

To attract more trade visitors, the fair organizer will work with countries and regions which have direct flights to Macao and invite them to this event. There are more details in the website, www.mif.com.mo

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The Consul-General said he was impressed by the level of Australians’ engagement in Macao’s economy, working in fields ranging from the hospitality, gaming, construction, infrastructure, transportation and food and beverage sectors.

James Packer, Australia’s richest man, has set up a joint venture, Melco PBL Entertainment, with Lawrence Ho, son of Macao gaming magnate Stanley Ho, and has built the Crown Macao, a six-star casino resort. And a larger integrated casino resort project initiated by Melco PBL is under construction in the city at present.

In addition, statistics released by the Consulate-General show that between 2006 and 2007, Australia’s merchandise trade with the SAR was worth 632.2 million patacas ($79 million), and Australian’s direct exports to the SAR amounted to 565.1 million patacas ($70.6 million) while imports from Macao’s to 67.1 million patacas ($8.4 million).

“We estimate more than 2,000 Australians live in Macao and expect that number will continue to increase,” said Luck.