Construction and development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin have seen steady, yet eye-catching performances, announced Zheng Renhao, director of the Guangdong Provincial Development & Reform Commission, at an April 19 press conference.

Hengqin has received strong support from central government ministries and commissions to promote the implementation of various preferential policies. The one that has exempted the portion of personal income tax exceeding 15 percent for domestic and overseas talents in Hengqin became valid on Jan 1, while other policies to attract international high-caliber talents, as well as to bolster encouraged industries are currently being planned. 

Hengqin Financial Island [Photo by Li Jianshu / WeChat account: zhuhaifabu]

Hengqin has been focusing on attracting more industrial projects with Guangdong and Macao characteristics that have a strong influence in four major sectors, namely sci-tech R&D and high-end manufacturing, brand industries like TCM, culture, and tourism, convention and exhibition, as well as modern finance.  

Contracts were signed on Dec 6, 2021 for 13 high-quality projects to settle in the Cooperation Zone, including a Guangdong-Macao Semiconductor Fund, Guangdong Institute of Intelligence Science & Technology AI Laboratory, Hengqin TCM New-Drug Technology Innovation Center, and Airbus Helicopter China Headquarters.

Meanwhile, construction of clearance channels between "first line" (Hengqin Island-Macao) and "second line" (Hengqin Island-the Chinese Mainland) will ensure closed operation in 2022, with a convenient flow of data, cargo, people, and capital.  

A "cross-border handling" work mechanism was piloted for commercial registration, making it possible for Macao enterprises to settle in Hengqin without traveling to Hengqin personally. As of now, there are 4,771 Macao-funded enterprises in Hengqin, of which 253 of them were set up after the zone's establishment in September 2021. In addition, the number of national and provincial sci-tech innovation platforms in Hengqin currently stands at 20.

In addition, the Macao New Neighborhood project is moving forward and will provide 4,000 apartments for Macao residents upon completion. As of 2021, 503 Macao residents were employed in Hengqin, an increase of 114 percent year-on-year. In addition, 324 professionals from 63 Hong Kong and Macao enterprises have obtained cross-boundary qualifications to practice in the Cooperation Zone.

Hengqin recorded 8,679 Macao residents handling residence permits as of 2021 while over 53,000 Macao residents sought medical services on the island. 

Intelligent passenger and vehicle inspection systems applied at ports like the Hengqin and Qingmao checkpoints have facilitated cross-boundary travel, with the exit-entry quota of Macao single-plate vehicles has increased to 10,000.

Hengqin has also taken an active part in the construction of a comprehensive service platform for cross-boundary vehicle information management in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), benefiting over 100,000 vehicles of nearly 3,000 logistics companies.

The press conference was held by the Guangdong Province Information Office, in which officials detailed prominent outcomes that have been achieved in the construction of GBA and Shenzhen Demonstration Pilot Zone for Socialism with Chinese Characteristics.