Page 78 - 2019 Special Report on the State of Business in South China
P. 78
- S h e k o u B u s i n e s s Z o n e : P r i o r i t i z e n e w In September 2018, Shenzhen Qianha & Shekou Free
services such as network information, scientific and Trade Investment Development Company Limited signed
technological services and culture creativity, and form a cooperation memorandum with Taiwan, Hong Kong
industrial linkage and complementary advantages and Macao center of China Council for the Promotion of
with Qianhai Area. International Trade, to jointly establish “Qianhai Center
of China Council for the Promotion of International
Qianhai Shenzhen-Hong Kong Cooperation Zone Trade”. And an important gateway and platform will be
overlapped the functions and policies of the pilot built for Chinese enterprises “going global” and foreign
free trade zones, and opened “three zones” mode of enterprises “bringing in”.
“Cooperation Zone + Pilot Free Trade Zone + Bonded
Port Area”. Therefore, there are not only the policies By the end of 2018, the Area will also plan to
shared by the pilot free trade zones in China, but also introduce a series of major reform and innovation
the unique policies of Qianhai Cooperation Zone, such measures such as Overall Plan for Implementing Reform
as a reduced corporate income tax of 15%, preferential and Innovation Project on Improving Speed, Quality and
individual income tax and other tax policies. The Efficiency, and introduce 132 specific reform measures.
comparative advantages are more prominent.
Hengqin New Area of Zhuhai
From 2015 to 2018, Qianhai Area promoted
investment facilitation, trade facilitation, regulation On April 23, 2015, the Hengqin Pilot Free Trade Zone
during and after the process, financial openness and was officially established. The strategic positioning of
innovation, legal system innovation, talent management Hengqin New Area of Zhuhai is to prioritize tourism,
reform, system and mechanism innovation, totally seven leisure and health, business financial services, culture,
innovations. It has launched a total of 401 institutional science, education, high tech and other industries, to
innovations, 133 of which were either initiated by establish an open area which leads cultural service and
Qianhai Area or played a leading role in China, the education service, and a leisure and recreation base for
level of trade facilitation ranked among the forefront of international commercial services, as well as to create a
the Pilot Free Trade Zones in Guangdong. In 2017, the new carrier that promotes appropriate and diversified
actually utilized foreign capital in registered enterprises economic development in Macao.
was US$4.448 billion, with an increase of 16.9%,
accounting for about 60.09% of the total. As a special area in the special zone, Hengqin New
Area enjoys special customs clearance, financial and
In June 2016, Qianhai Administration Bureau taxation policies, special land policies, open industry
and China Merchants Group signed a cooperation and informatization policies and innovative financial
framework agreement to establish a joint venture policies. Hengqin can independently approve foreign-
for the development, construction and operation of invested training institutions. Macao telecom operators
Qianhai Mawan, with share proportion of 50% held by may establish joint ventures with the Mainland telecom
each party. It is the only Free Trade Zone in China that is operators in Hengqin to operate basic and value-added
promoted by local government and central enterprises telecommunication services. Financial institutions in
through market-oriented methods. Hengqin New Area are allowed to conduct offshore
foreign currency business. “Hong Kong and Macao
In April 2018, Reform Action Plan for Qianhai & residents working in Hengqin shall be levied the individual
Shekou Free Trade Zone and Qianhai Cooperation Zone’s income tax equal to that in Hong Kong and Macao”, that
Efforts on Establishing the Best Business Environment is, the individual income tax difference of Hong Kong and
(2018-2020) was released. Efforts will be made to create Macao residents working in Hengqin shall be subsidized
the best business environment with similar concepts, by the Guangdong Provincial Government.
systems and cultures in the world in alignment with
the World Bank’s business environment index system, On December 8, 2015, Measures of Zhuhai Special
international high-standard economic and trade rules Economic Zone on Promoting the Construction of
and the world’s best business environment practice. Hengqin New Area of Zhuhai in China (Guangdong) Free
Trade Pilot Zone, the first national regulatory document
to promote the construction of the Free Trade Zone, was
78
services such as network information, scientific and Trade Investment Development Company Limited signed
technological services and culture creativity, and form a cooperation memorandum with Taiwan, Hong Kong
industrial linkage and complementary advantages and Macao center of China Council for the Promotion of
with Qianhai Area. International Trade, to jointly establish “Qianhai Center
of China Council for the Promotion of International
Qianhai Shenzhen-Hong Kong Cooperation Zone Trade”. And an important gateway and platform will be
overlapped the functions and policies of the pilot built for Chinese enterprises “going global” and foreign
free trade zones, and opened “three zones” mode of enterprises “bringing in”.
“Cooperation Zone + Pilot Free Trade Zone + Bonded
Port Area”. Therefore, there are not only the policies By the end of 2018, the Area will also plan to
shared by the pilot free trade zones in China, but also introduce a series of major reform and innovation
the unique policies of Qianhai Cooperation Zone, such measures such as Overall Plan for Implementing Reform
as a reduced corporate income tax of 15%, preferential and Innovation Project on Improving Speed, Quality and
individual income tax and other tax policies. The Efficiency, and introduce 132 specific reform measures.
comparative advantages are more prominent.
Hengqin New Area of Zhuhai
From 2015 to 2018, Qianhai Area promoted
investment facilitation, trade facilitation, regulation On April 23, 2015, the Hengqin Pilot Free Trade Zone
during and after the process, financial openness and was officially established. The strategic positioning of
innovation, legal system innovation, talent management Hengqin New Area of Zhuhai is to prioritize tourism,
reform, system and mechanism innovation, totally seven leisure and health, business financial services, culture,
innovations. It has launched a total of 401 institutional science, education, high tech and other industries, to
innovations, 133 of which were either initiated by establish an open area which leads cultural service and
Qianhai Area or played a leading role in China, the education service, and a leisure and recreation base for
level of trade facilitation ranked among the forefront of international commercial services, as well as to create a
the Pilot Free Trade Zones in Guangdong. In 2017, the new carrier that promotes appropriate and diversified
actually utilized foreign capital in registered enterprises economic development in Macao.
was US$4.448 billion, with an increase of 16.9%,
accounting for about 60.09% of the total. As a special area in the special zone, Hengqin New
Area enjoys special customs clearance, financial and
In June 2016, Qianhai Administration Bureau taxation policies, special land policies, open industry
and China Merchants Group signed a cooperation and informatization policies and innovative financial
framework agreement to establish a joint venture policies. Hengqin can independently approve foreign-
for the development, construction and operation of invested training institutions. Macao telecom operators
Qianhai Mawan, with share proportion of 50% held by may establish joint ventures with the Mainland telecom
each party. It is the only Free Trade Zone in China that is operators in Hengqin to operate basic and value-added
promoted by local government and central enterprises telecommunication services. Financial institutions in
through market-oriented methods. Hengqin New Area are allowed to conduct offshore
foreign currency business. “Hong Kong and Macao
In April 2018, Reform Action Plan for Qianhai & residents working in Hengqin shall be levied the individual
Shekou Free Trade Zone and Qianhai Cooperation Zone’s income tax equal to that in Hong Kong and Macao”, that
Efforts on Establishing the Best Business Environment is, the individual income tax difference of Hong Kong and
(2018-2020) was released. Efforts will be made to create Macao residents working in Hengqin shall be subsidized
the best business environment with similar concepts, by the Guangdong Provincial Government.
systems and cultures in the world in alignment with
the World Bank’s business environment index system, On December 8, 2015, Measures of Zhuhai Special
international high-standard economic and trade rules Economic Zone on Promoting the Construction of
and the world’s best business environment practice. Hengqin New Area of Zhuhai in China (Guangdong) Free
Trade Pilot Zone, the first national regulatory document
to promote the construction of the Free Trade Zone, was
78
