As the Hong Kong-Zhuhai-Macao Bridge (HZMB) makes it convenient for foreign high-end brand agencies to set up in China, the Zhuhai government is preparing to bring in more foreign investment and highly talented achievers.

The city government recently released a circular on Policies & Measures to Expand Opening-Up & Stimulate Foreign Investment Growth. It invites foreign sales headquarters, warehousing, and distribution centers to set up in the city. And, it details specifics regarding opening-up, entrepreneurial incentives, and preferential policies for foreign high-end talents.

Under the plan, foreign investment will be stimulated in integrated logistics e-commerce and industrial parks of pillar and support enterprises. This is expected to quickly develop HZMB-based logistics, Gaolan Port-centered maritime transport, and Zhuhai (Jinwan) Airport-based transportation.

Furthermore, foreign investors will be encouraged to help construct regional shopping centers and foster large-scale international cultural and sports events. Additional efforts will be made to attract investment in creative design, characteristic consumption, and cross-border e-commerce projects.

Macao-Hengqin Youth Entrepreneurship Valley (Inno Valley HQ) [Photo courtesy sohu.com]

Elsewhere, full implementation of departure tax refunds will lead to more franchise shops for high-end consumer goods. The city will also cooperate more intensely with Hong Kong and Macao in the MICE industry by attracting leading enterprises that will host commercial and tourist activities.

In yet another field, the city will guide foreign-funded R&D institutions and innovative teams to invest in strategic emerging industries such as the Internet of Things (IoT) and big data. With extra funding, major breakthroughs are anticipated in software, integrated circuit design, artificial intelligence (AI), biomedicine, and new-energy vehicles. 

In terms of financial incentives, subsidies of 50 million yuan ($8 million) each are listed for new real-economy projects worth more than $10 million. Three-million yuan ($475,160) will be granted for each add-on registered capital exceeding $10 million.

Foreign investment projects that increase main business incomes year-on-year by 100 million ($16 million), 500 million ($79 million), 1 billion ($158.5 million) or 5 billion yuan ($792 million) due to incremental investment and production will receive from 2 million ($316,751) to 20 million yuan ($3.2 million) proportionately.

Meanwhile, public services such as medical treatment, education, and retirement care facilities that are jointly invested and built by foreign companies and the government can benefit from using State-owned land.

A greater number of top-flight academics and professionals are to be drawn to the province via the "Guangdong Superior Talent Card" policy. Eligible are senior management personnel in foreign-invested enterprises or regional headquarters, high-caliber talents in foreign-funded R&D institutions, international owners of patents under the Patent Cooperation Treaty (PCT), winners of WorldSkills competitions, and special Hong Kong, Macao, or Taiwan talents hired by foreign-funded enterprises.

The cardholder, spouse, and minor children will receive the same policies in housing, education, medical treatment, and elderly care as locals. They can apply for an endorsement or other immigration documents in Zhuhai when planning a trip to Hong Kong or Macao. Foreigner's work and residence permits valid for five years are also on offer.