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6 White Paper on the Business Environment in China
Macau’s Closer Economic Partnership Arrangement struction of the Hong-Kong-Zhuhai Macau Bridge began at
(CEPA) with Mainland China was signed on October 17, 2003 the end of 2009 and is due to be completed by the end of 2016.
and came into effect on January 1, 2004. The agreement offers
Macau-made products tariff-free access to the mainland. Ac- Ports and waterways
cording to official statistics issued by Macau Economic Services, Macau Port includes an outer harbor for passenger vessels
the total product export value under CEPA has reached MOP
636,195,829 from January 2004 to the end of September 2015 . to/from Hong Kong, as well as an inner port for cargo. The
With respect to trade in services, Macau Economic Services has Ka-Ho Harbor includes a fuel oil terminal and company-ex-
approved 411 “Macau Service Supplier” certificates, for companies clusive piers. There are regular ferries and helicopters providing
primarily engaged in transport and logistics; conventions and exhi- 24-hour service to Hong Kong. Ferries also connect with the
bitions; management consulting; construction; distribution; tele- Shekou Port in Shenzhen.
communications; legal, advertising, sales and marketing services for
air transport; real estate; audiovisual services, travel agencies, med-
ical and dental services, job referral agency services, air transport
services as well as trademark agencies, and more.
Spotlight on Hengqin Island
Hengqin New Area, located in the Zhuhai Special Econom-
ic Zone and part of the Guangdong Free Trade Zone, is only
a stone’s throw away from Macau. As part of the One Coun-
try, Two Systems policy, the central government is trying to
integrate the economies of Hong Kong, Macau and Mainland
China. Hengqin is directly across the water from Macau, and as
such is a pilot zone for integration. It has already attracted over
RMB 226.3 billion (US$36.4 billion) in total investment. With
professional zone management, as well as the most preferential
investment policies in South China, Hengqin New Area offers
appealing incentives to investors.
In March 2014, China issued a “Preferential Corporate In-
come Tax Catalog” for Hengqin New Area, which identified
five industries and 72 business categories, such as ocean-sourced
pharmaceuticals and health care, for preferential tax treatment.
While China’s standard rate of corporate income tax is 25 per-
cent, eligible enterprises listed in the Catalog will be taxed at a
reduced 15 percent rate closer to corporate income tax levels in
Hong Kong and Macau.
Infrastructure
Air
Macau is accessible by air from most major cities in Asia plus
a number of domestic destinations. All passengers using the
modern Macau International Airport are subject to an airport
tax and passenger tax.
Road
Macau consists of a peninsula and the two islands of Tai-
pa and Coloane. Three bridges, the Nobre de Carvalho Bridge,
Friendship Bridge (Ponte da Amizade) and Sai Van Bridge, link
the peninsula to Taipa. In addition, the two islands are linked
by the six-lane 2.2 kilometer Taipa-Coloane Causeway. Con-
280
Macau’s Closer Economic Partnership Arrangement struction of the Hong-Kong-Zhuhai Macau Bridge began at
(CEPA) with Mainland China was signed on October 17, 2003 the end of 2009 and is due to be completed by the end of 2016.
and came into effect on January 1, 2004. The agreement offers
Macau-made products tariff-free access to the mainland. Ac- Ports and waterways
cording to official statistics issued by Macau Economic Services, Macau Port includes an outer harbor for passenger vessels
the total product export value under CEPA has reached MOP
636,195,829 from January 2004 to the end of September 2015 . to/from Hong Kong, as well as an inner port for cargo. The
With respect to trade in services, Macau Economic Services has Ka-Ho Harbor includes a fuel oil terminal and company-ex-
approved 411 “Macau Service Supplier” certificates, for companies clusive piers. There are regular ferries and helicopters providing
primarily engaged in transport and logistics; conventions and exhi- 24-hour service to Hong Kong. Ferries also connect with the
bitions; management consulting; construction; distribution; tele- Shekou Port in Shenzhen.
communications; legal, advertising, sales and marketing services for
air transport; real estate; audiovisual services, travel agencies, med-
ical and dental services, job referral agency services, air transport
services as well as trademark agencies, and more.
Spotlight on Hengqin Island
Hengqin New Area, located in the Zhuhai Special Econom-
ic Zone and part of the Guangdong Free Trade Zone, is only
a stone’s throw away from Macau. As part of the One Coun-
try, Two Systems policy, the central government is trying to
integrate the economies of Hong Kong, Macau and Mainland
China. Hengqin is directly across the water from Macau, and as
such is a pilot zone for integration. It has already attracted over
RMB 226.3 billion (US$36.4 billion) in total investment. With
professional zone management, as well as the most preferential
investment policies in South China, Hengqin New Area offers
appealing incentives to investors.
In March 2014, China issued a “Preferential Corporate In-
come Tax Catalog” for Hengqin New Area, which identified
five industries and 72 business categories, such as ocean-sourced
pharmaceuticals and health care, for preferential tax treatment.
While China’s standard rate of corporate income tax is 25 per-
cent, eligible enterprises listed in the Catalog will be taxed at a
reduced 15 percent rate closer to corporate income tax levels in
Hong Kong and Macau.
Infrastructure
Air
Macau is accessible by air from most major cities in Asia plus
a number of domestic destinations. All passengers using the
modern Macau International Airport are subject to an airport
tax and passenger tax.
Road
Macau consists of a peninsula and the two islands of Tai-
pa and Coloane. Three bridges, the Nobre de Carvalho Bridge,
Friendship Bridge (Ponte da Amizade) and Sai Van Bridge, link
the peninsula to Taipa. In addition, the two islands are linked
by the six-lane 2.2 kilometer Taipa-Coloane Causeway. Con-
280
