Guangdong, Hong Kong, and Macao will join hands to implement measures for developing Hengqin and Qianhai, said Guangdong governor Ma Xingrui at the press conference on promoting the development of the two cooperation zones today (Sep. 10).
This week China's central authorities have recently issued a general plan for building a Guangdong-Macao in-depth cooperation zone and a plan for further developing a Shenzhen-Hong Kong cooperation zone.
According to Ma, Guangdong is making the overall development plans for the two cooperation zones. The province will launch more reform measures, accelerate establishing a new open economy system, set up many major industries and innovative projects, and develop a high-quality living environment for living and working.
In recent years, Guangdong has built many projects, including the Hong Kong-Zhuhai-Macao Bridge, the Guangzhou-Hong Kong High-speed Railway, the Liantang Port/Heung Yuen Wai Boundary Control Point, and Qingmao Port. All projects allow GBA residents to travel through three places much easier.
Ma said that next, Guangdong will further facilitate the flow of cross-boundary elements. Residents in the Greater Bay Area can invest in wealth management products distributed by all banks in the Chinese mainland, Hong Kong and Macao.
Also, the province will support Macao's Light Rail Transit System to extend into Hengqin and introduce public services, social security, and other livelihood facilities from Macao.
As for business environment reform, Guangdong will strive to build a world-class business environment. Ma stated that the province is formulating measures to easier market access and implement a negative list.
"Hengqin has implemented preferential policies on tax for domestic and foreign high-end and urgently-needed talent, personnel entry-exit. While qualified professionals in Qianhai can enjoy special subsidies for the individual income tax for overseas high-end and urgently needed talent working in the Greater Bay Area," Ma said.
Ma pointed out, Guangdong will launch more flexible talent policies, provide international-level service in the aspects of visa, housing, education, and health care to attract more high-level and needed professionals. For instance, in Hengqin, the government has initiated a new project to provide 4000 residences for Macao residents, which will be completed in 2023.
Author: Will, Abby
Editor: Wing, Olivia, Nan