Page 74 - 2015_SpecialReport_web
P. 74
5 Special Report on the State of Business in South China
ference and exhibition space, 70,000 square meters of which as well as new resorts and hotels closer to nature. Hengqin
is dedicated to exhibitions and can accommodate up to 5,000 will also o er many precious opportunities to small and
booths at a time). medium-sized enterprises, especially in the areas of medical
science and innovative industries. A formal document titled
Macau’s Closer Economic Partnership Arrangement the “Administrative Measures on Registration of Hengqin
(CEPA) with Mainland China was signed on October 17, Zhuhai Special Commercial and Economic Zone” has been
2003 and came into e ect on January 1, 2004. e agree- promulgated to create a better business environment by
ment o ers Macau-made products tari -free access to the simplifying registration formalities.
mainland. Macau Economic Services issued 1,612 CEPA
certi cates of origin, with a total product export value of Infrastructure
MOP201,714,946, from January 2004 to the end of June
2011. With respect to trade in services, Macau Economic Ser- Air
vices has approved 411 “Macau Service Supplier” certi cates, Macau is accessible by air from most major cities in Asia
for companies primarily engaged in transport and logistics;
conventions and exhibitions; management consulting; con- plus a number of domestic destinations. All passengers using
struction; distribution; telecommunications; legal, advertis- the modern Macau International Airport are subject to an
ing, sales and marketing services for air transport; real estate; airport tax and passenger tax.
audiovisual services, travel agencies, medical and dental ser-
vices, job referral agency services, air transport services as well Road
as trademark agencies, and more. Macau consists of a peninsula and the two islands of Taipa
Spotlight on Hengqin Island and Coloane. ree bridges, the Nobre de Carvalho Bridge,
A plan to upgrade the status of Hengqin Island in Zhuhai Friendship Bridge (Ponte da Amizade) and Sai Van Bridge,
link the peninsula to Taipa. As well, the two islands are
(connected to Macau by bridge) from “Special Economic linked by the six-lane 2.2 kilometer Taipa-Coloane Causeway.
Zone” to a “Free Trade Zone” was approved by the central Construction of the Hong-Kong-Zhuhai Macau Bridge
government in August 2011. e new policies will aim for began at the end of 2009 and is due to be completed by the
discriminative customs management on the 106.5-square end of 2016.
kilometer island. Overseas goods shipped to the island –
except for goods that cannot enjoy free duties according to Ports and waterways
related regulations – will enjoy import duty exemption, and Macau Port includes an outer harbor for passenger vessels
will still be subject to tari s if they are destined for other parts
of Mainland China. In addition to import duty exemption, to/from Hong Kong, as well as an inner port for cargo. e
commodity trading among enterprises based on Hengqin Ka-Ho Harbor includes a fuel oil terminal and company-
Island is also exempt from value-added tax and consumption exclusive piers. ere are regular ferries and helicopters
tax payment. It is hoped that some eligible local enterprises providing 24-hour service to Hong Kong. Ferries also connect
will be allowed to pay corporate income tax at a lower rate of with the Shekou Port in Shenzhen.
15 percent.
e Hengqin Project was rst brought to the table in
January 2009 by then-Chinese Vice President Xi Jinping,
who is convinced that the development of Hengqin Island
will provide new areas for development and diversi cation
within Macau’s economy. is view is echoed by the present
chief executive of Macau, who highlighted that making use
of the Hengqin Development Zone and expanding coopera-
tion with neighboring regions can help to diversify the local
economy.
As Macau is quite small in size, the government is
thinking about ways to expand the scope of attraction
outside its current domain. As “China’s southern door to the
world,” Hengqin triples Macau in size, providing the city
with the necessary space to build facilities that are essential
for leisure tourism, such as wetland parks and theme parks,
74
ference and exhibition space, 70,000 square meters of which as well as new resorts and hotels closer to nature. Hengqin
is dedicated to exhibitions and can accommodate up to 5,000 will also o er many precious opportunities to small and
booths at a time). medium-sized enterprises, especially in the areas of medical
science and innovative industries. A formal document titled
Macau’s Closer Economic Partnership Arrangement the “Administrative Measures on Registration of Hengqin
(CEPA) with Mainland China was signed on October 17, Zhuhai Special Commercial and Economic Zone” has been
2003 and came into e ect on January 1, 2004. e agree- promulgated to create a better business environment by
ment o ers Macau-made products tari -free access to the simplifying registration formalities.
mainland. Macau Economic Services issued 1,612 CEPA
certi cates of origin, with a total product export value of Infrastructure
MOP201,714,946, from January 2004 to the end of June
2011. With respect to trade in services, Macau Economic Ser- Air
vices has approved 411 “Macau Service Supplier” certi cates, Macau is accessible by air from most major cities in Asia
for companies primarily engaged in transport and logistics;
conventions and exhibitions; management consulting; con- plus a number of domestic destinations. All passengers using
struction; distribution; telecommunications; legal, advertis- the modern Macau International Airport are subject to an
ing, sales and marketing services for air transport; real estate; airport tax and passenger tax.
audiovisual services, travel agencies, medical and dental ser-
vices, job referral agency services, air transport services as well Road
as trademark agencies, and more. Macau consists of a peninsula and the two islands of Taipa
Spotlight on Hengqin Island and Coloane. ree bridges, the Nobre de Carvalho Bridge,
A plan to upgrade the status of Hengqin Island in Zhuhai Friendship Bridge (Ponte da Amizade) and Sai Van Bridge,
link the peninsula to Taipa. As well, the two islands are
(connected to Macau by bridge) from “Special Economic linked by the six-lane 2.2 kilometer Taipa-Coloane Causeway.
Zone” to a “Free Trade Zone” was approved by the central Construction of the Hong-Kong-Zhuhai Macau Bridge
government in August 2011. e new policies will aim for began at the end of 2009 and is due to be completed by the
discriminative customs management on the 106.5-square end of 2016.
kilometer island. Overseas goods shipped to the island –
except for goods that cannot enjoy free duties according to Ports and waterways
related regulations – will enjoy import duty exemption, and Macau Port includes an outer harbor for passenger vessels
will still be subject to tari s if they are destined for other parts
of Mainland China. In addition to import duty exemption, to/from Hong Kong, as well as an inner port for cargo. e
commodity trading among enterprises based on Hengqin Ka-Ho Harbor includes a fuel oil terminal and company-
Island is also exempt from value-added tax and consumption exclusive piers. ere are regular ferries and helicopters
tax payment. It is hoped that some eligible local enterprises providing 24-hour service to Hong Kong. Ferries also connect
will be allowed to pay corporate income tax at a lower rate of with the Shekou Port in Shenzhen.
15 percent.
e Hengqin Project was rst brought to the table in
January 2009 by then-Chinese Vice President Xi Jinping,
who is convinced that the development of Hengqin Island
will provide new areas for development and diversi cation
within Macau’s economy. is view is echoed by the present
chief executive of Macau, who highlighted that making use
of the Hengqin Development Zone and expanding coopera-
tion with neighboring regions can help to diversify the local
economy.
As Macau is quite small in size, the government is
thinking about ways to expand the scope of attraction
outside its current domain. As “China’s southern door to the
world,” Hengqin triples Macau in size, providing the city
with the necessary space to build facilities that are essential
for leisure tourism, such as wetland parks and theme parks,
74
