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Ho Iat-seng takes questions from media before he is sworn in as the fifth-term chief executive of the Macao Special Administrative Region, on Nov 20, 2019. [Photo/Xinhua]

After being sworn in on Friday, newly installed Macao Chief Executive Ho Iat-seng said on Monday that the special administrative region is eager to expand economic cooperation and cultural exchanges with neighboring Guangdong province.

Ho was leading a large trade delegation to Guangzhou, the provincial capital.

The prosperous province, a prime example of the success of China"s reform and opening-up, was the first place on the Chinese mainland Ho visited after taking office.

He met with Li Xi, Party secretary of Guangdong, and provincial governor Ma Xingrui to discuss how to expand economic ties between the two regions amid Macao"s ambitious task of diversifying its economy. Currently, Macao relies primarily on the gaming and tourism sectors for economic development.

Li said the province fully supports Macao"s economic development and urged both sides to seize the golden opportunities brought by the Guangdong-Hong Kong-Macao Greater Bay Area in the coming years.

"Guangdong expects to accelerate the construction of the Hengqin New Area, which is adjacent to Macao," Li said, adding that investors from Macao are also playing an important role in the creation of an industrial park devoted to the science and technology of traditional Chinese medicine.

Guangdong wants to increase the infrastructure connectivity of the two regions and expand exchanges of young people to take cooperation to a new level, he said.

Ho said Macao would further consolidate the already close Guangdong-Macao economic and trade relationship and deepen cooperation in investment, culture and personal exchanges.

Ho and his delegation, which included senior officials and business executives, also visited major projects funded by Macao investors in Zhuhai before ending their twoday tour and returning to Macao on Tuesday afternoon.

Ho is the third chief executive of Macao. He follows Ho Hau-wah and his immediate predecessor, Chui Sai-on.

The Hengqin New Area, home to one of Guangdong"s pilot free trade zones, is planned as a green-themed health and tourism island.

It is expected to play an important role in supporting Macao"s ambition to become an international leisure and tourism center in the years ahead.

The new area will strive to expand its cooperation with investors from Hong Kong and Macao to achieve that goal.

Hengqin has so far attracted about 3,100 companies from Hong Kong, Macao and Taiwan. Of those, more than half are funded by money from Macao.

The University of Macao has established a campus in Hengqin, completed in 2013, that is 20 times larger than its campus in Macao.

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