FEASIBILITY STUDY OF A CHINESE DYNASTY-THEMED HOTEL IN MACAU

ABSTRACT

THIS DISSERTATION INVESTIGATES THE ROLE OF HENGQIN IN FACILITATING MACAU AS A COMMERCIAL AND TRADE COOPERATION SERVICE PLATFORM BETWEEN CHINA AND PORTUGUESE- SPEAKING COUNTRIES (PSCS). AS GLOBAL ECONOMIC DYNAMICS EVOLVE AND CHINA DEEPENS ITS ENGAGEMENT WITH LUSOPHONE MARKETS, THE STRATEGIC POSITIONING OF THE GUANGDONG- MACAU IN-DEPTH COOPERATION ZONE IN HENGQIN PRESENTS A UNIQUE OPPORTUNITY TO EXTEND AND OPERATIONALIZE MACAU'S HISTORIC ROLE AS A CULTURAL AND COMMERCIAL BRIDGE. THIS STUDY CRITICALLY EXAMINES WHETHER HENGQIN CAN EFFECTIVELY SERVE AS THE PHYSICAL AND INSTITUTIONAL EXTENSION NECESSARY TO TRANSFORM MACAU'S PLATFORM FUNCTION FROM A CONCEPTUAL DESIGNATION INTO A SUBSTANTIVE ECONOMIC ENGINE. THE RESEARCH EMPLOYS A QUALITATIVE APPROACH, UTILIZING IN-DEPTH, SEMI-STRUCTURED INTERVIEWS WITH EIGHT KEY STAKEHOLDERS REPRESENTING DIVERSE PERSPECTIVES ACROSS THE MACAU-HENGQIN-PSC ECOSYSTEM. THE INTERVIEWEES INCLUDE ENTREPRENEURIAL PRACTITIONERS IN TRADITIONAL CHINESE MEDICINE, BIOTECHNOLOGY, AND SMART FISHERIES; ECOSYSTEM ENABLERS SUCH AS AN INCUBATOR FOUNDER AND A COORDINATOR FROM THE CHINA- PSC ECONOMIC AND TRADE SERVICE CENTER; A TALENT DEVELOPMENT EXPERT FROM THE AND YOUNG PROFESSIONALS BRIDGING MACAU, MAINLAND CHINA, AND PORTUGUESE-SPEAKING MARKETS. THIS MULTI-PERSPECTIVE APPROACH ENSURES THAT THE FINDINGS ARE GROUNDED IN REAL-WORLD EXPERIENCE AND CAPTURE BOTH STRATEGIC VISIONS AND OPERATIONAL REALITIES. THE STUDY IS STRUCTURED AROUND FOUR CORE RESEARCH QUESTIONS EXAMINING THE STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS (SWOT) OF HENGQIN IN SUPPORTING MACAU'S PSC PLATFORM FUNCTION. DATA ANALYSIS PROCEEDS THROUGH THREE STAGES: WORD 5 FREQUENCY ANALYSIS TO IDENTIFY SALIENT CONCEPTS, SYSTEMATIC CODING AND THEMATIC ANALYSIS TO GENERATE EMPIRICAL CATEGORIES, AND CLUSTER ANALYSIS TO REVEAL CONCEPTUAL RELATIONSHIPS AMONG THEMES. THE RESULTANT FINDINGS ARE TRIANGULATED WITH OFFICIAL POLICY DOCUMENTS, STATISTICAL DATA, MEDIA REPORTS, AND ACADEMIC LITERATURE TO ENSURE ANALYTICAL RIGOR AND PRACTICAL RELEVANCE. THE FINDINGS REVEAL THAT HENGQIN POSSESSES FUNDAMENTAL STRENGTHS THAT MAKE IT UNIQUELY POSITIONED TO SUPPORT MACAU PLATFORM FUNCTION. THESE INCLUDE THE "FIRST-LINE OPENING, SECOND-LINE MANAGEMENT" CUSTOMS POLICY, WHICH HAS DEMONSTRATED TANGIBLE EFFICIENCY GAINS WITH OVER 16 MILLION CROSS-BORDER PERSON-TRIPS IN 2023; THE "MACAU R&D OR CERTIFICATION + HENGQIN PRODUCTION" INDUSTRIAL SYNERGY MODEL, WHICH ENABLES ENTERPRISES TO REDUCE COSTS BY ONE-THIRD WHILE ACHIEVING SCALE; TARGETED PROFESSIONAL SERVICES SUCH AS THE PORTUGUESE-SPEAKING COUNTRIES TAX COOPERATION OFFICE, WHICH HAS TRAINED 60 FISCAL OFFICIALS FROM NINE PSC’S; AND THE "MACAU-LIKE" LIVING ENVIRONMENT EXEMPLIFIED BY "MACAU NEW NEIGHBOURHOOD," WHICH HAS ATTRACTED APPROXIMATELY 20,000 MACAU RESIDENTS TO THE COOPERATION ZONE. HOWEVER, THE STUDY ALSO IDENTIFIES CRITICAL WEAKNESSES THAT CONSTRAIN THE PLATFORM'S EFFECTIVENESS. THE MOST SIGNIFICANT IS THE DISCONNECT BETWEEN PHYSICAL INTEGRATION AND INSTITUTIONAL INTEGRATION—A "SYSTEM INTEGRATION GAP" CHARACTERIZED BY INCOMPLETE MUTUAL RECOGNITION OF PROFESSIONAL QUALIFICATIONS, AMBIGUOUS CROSS-BORDER DATA FLOW REGULATIONS, AND A SEVERE SHORTAGE OF "BILINGUAL, BI-CULTURAL, AND BI- SYSTEMIC" PROFESSIONAL SERVICE PROVIDERS. THESE GAPS CREATE OPERATIONAL FRICTION, INCREASE COSTS AND RISKS FOR ENTERPRISES, AND UNDERMINE CONFIDENCE IN THE PLATFORM'S CAPACITY TO SUPPORT COMPLEX, TECHNOLOGY-DRIVEN CROSS-BORDER VENTURES. THE DAILY COMMUTING BURDEN, LIMITED INTERNATIONAL AMENITIES, AND UNDERDEVELOPED TALENT PIPELINE FURTHER COMPOUND THESE CHALLENGES. 6 THE RESEARCH REVEALS SUBSTANTIAL OPPORTUNITIES FOR TRANSFORMATIVE DEVELOPMENT. THESE INCLUDE THE EMERGENCE OF NEW INDUSTRIAL TRACKS SUCH AS DIGITAL TRADE (EXEMPLIFIED BY PORTUGUESE-LANGUAGE AI MODELS), GREEN TECHNOLOGY, AND THE BLUE CARBON ECONOMY; THE EVOLUTION OF THE CHINA-PSC SERVICE CENTER FROM AN INFORMATION COUNTER TO AN INTEGRATED "SOLUTIONS FACTORY"; THE POTENTIAL FOR "REVERSE INTRODUCTION" OF UNIQUE BIOLOGICAL RESOURCES FROM PSCS FOR R&D AND PRODUCTION IN HENGQIN; AND THE OPPORTUNITY TO PIONEER CROSS-BORDER DATA FLOW PILOTS THAT WOULD POSITION HENGQIN AS A RULE-MAKING INNOVATOR IN NEW-ECONOMY SECTORS. THE CONVERGENCE OF THE "NEW QUALITY PRODUCTIVE FORCES" FRAMEWORK, THE DEEPENING OF THE "BELT AND ROAD" INITIATIVE, AND MACAU'S EMERGING ROLE AS A GREEN FINANCE HUB CREATES A UNIQUELY FAVORABLE MOMENT FOR STRATEGIC ACTION. AT THE SAME TIME, THE ANALYSIS IDENTIFIES SIGNIFICANT THREATS THAT MUST BE ADDRESSED. INTRA-GBA COMPETITION FROM PLATFORMS SUCH AS QIANHAI AND NANSHA, WHICH OFFER DEEPER CAPITAL MARKETS AND MORE MATURE TECHNOLOGY ECOSYSTEMS, POSES A REAL RISK OF PROJECT AND TALENT DIVERSION. EXTERNAL MARKET VOLATILITY IN KEY PSC MARKETS— INCLUDING CURRENCY FLUCTUATIONS IN ANGOLA AND POLICY UNCERTAINTY IN BRAZIL—EXPOSES ENTERPRISES TO UNMITIGATED RISKS. THE MARGINAL SCALE OF DIRECT MACAU-PSC TRADE (APPROXIMATELY 0.9% OF MACAU'S TOTAL TRADE VOLUME) SUGGESTS THAT THE PLATFORM'S ECONOMIC IMPACT HAS YET TO MATCH ITS STRATEGIC AMBITION. SME SURVIVAL PRESSURES AND DIGITAL TRANSFORMATION LAGS FURTHER THREATEN THE ECOSYSTEM'S MICRO-FOUNDATIONS. BASED ON THESE FINDINGS, THE STUDY OFFERS SEVERAL RECOMMENDATIONS FOR ENHANCING HENGQIN'S PLATFORM FUNCTION. THESE INCLUDE PRIORITIZING INSTITUTIONAL INNOVATION THROUGH PILOTS SUCH AS A "CROSS-BORDER DATA FLOW WHITELIST" AND "ONE-TEST, DUAL- RECOGNITION" CERTIFICATION MECHANISMS; SYSTEMATICALLY BUILDING THE PROFESSIONAL SERVICE ECOSYSTEM BY ATTRACTING SPECIALIZED "BILINGUAL, BI-CULTURAL, AND BI-SYSTEMIC" 7 SERVICE PROVIDERS THROUGH TARGETED INCENTIVE PROGRAMS; DEVELOPING COMPREHENSIVE TALENT PIPELINES THROUGH INTEGRATED EDUCATIONAL PATHWAYS AND EXPERIENTIAL LEARNING PROGRAMS; AND CREATING RISK MITIGATION MECHANISMS, INCLUDING SME-FRIENDLY CURRENCY HEDGING TOOLS AND POLICY INSURANCE PRODUCTS. THE "MACAU HEADQUARTERS + HENGQIN BASE + BAY AREA NETWORK" COLLABORATIVE MODEL SHOULD BE ACTIVELY OPERATIONALIZED TO LEVERAGE COMPLEMENTARY STRENGTHS ACROSS THE REGION. THIS RESEARCH CONTRIBUTES TO THE BROADER LITERATURE ON REGIONAL ECONOMIC INTEGRATION, CROSS-BORDER PLATFORM DEVELOPMENT, AND CHINA-PSC COOPERATION BY PROVIDING EMPIRICALLY GROUNDED INSIGHTS INTO THE MICRO-LEVEL DYNAMICS THAT SHAPE PLATFORM EFFECTIVENESS. BY CENTERING THE VOICES AND EXPERIENCES OF PRACTITIONERS, ENTREPRENEURS, ECOSYSTEM ENABLERS, INSTITUTIONAL REPRESENTATIVES, ACADEMICS, AND YOUNG PROFESSIONALS, THE STUDY ILLUMINATES NOT ONLY WHAT IS WORKING BUT ALSO WHERE FRICTION PERSISTS AND WHAT STRATEGIC ACTIONS ARE NEEDED. THE FINDINGS OFFER VALUABLE GUIDANCE FOR POLICYMAKERS SEEKING TO REFINE INSTITUTIONAL FRAMEWORKS, FOR BUSINESS PRACTITIONERS NAVIGATING CROSS-BORDER OPPORTUNITIES, AND FOR RESEARCHERS EXPLORING THE COMPLEX DYNAMICS OF PLATFORM-BASED REGIONAL DEVELOPMENT. ULTIMATELY, THE STUDY CONCLUDES THAT HENGQIN'S FEASIBILITY AS A FACILITATOR OF MACAU'S PSC PLATFORM IS ESTABLISHED—BUT ITS FULL POTENTIAL WILL ONLY BE REALIZED THROUGH SYSTEMATIC ATTENTION TO THE "SOFTWARE" OF INSTITUTIONAL INTEGRATION, PROFESSIONAL SERVICE DEVELOPMENT, AND TALENT CULTIVATION THAT COMPLEMENT ITS IMPRESSIVE "HARDWARE" OF SPATIAL RESOURCES AND POLICY INFRASTRUCTURE.