Ministry: zero tariffs levied on goods from Macao

(ECNS) -- The Chinese mainland has implemented zero tariffs on goods originating from Macao, expending development space for Macao's traditional manufacturing industry, Gao Feng, spokesman for the Ministry of Commerce, said at a regular press conference on Thursday.

Trade in goods between Macao and the mainland reached 19.4 billion yuan ($2.77 billion) from January to November 2019, up 5.5 percent year on year.

The medical, tourism and financial markets in the mainland have been opened wider to Macao, creating more convenience for people in Macao to do business in the mainland.

Macao had invested a total of $17.14 billion in the mainland by November 2019, while the mainland had invested $2.68 billion in non-financial direct investment, Gao said.

In 2018, the Economic and Trade Cooperation Commission was established to promote economic and trade exchanges and cooperation to a higher level.

The Ministry of Commerce will continue to promote the coordinated development of mainland and Macao industries under the new situation, Gao said.