Page 80 - 2019 Special Report on the State of Business in South China
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formally implemented, and two measures were initiated in terms of industrial base, scientific and technological
by Hengqin New Area , i.e. “human capital investment” innovation, foreign trade and other indicators, and
and “list of legal responsibilities for market operations ranks the third place in China in the assessment on
in alignment with Hong Kong and Macao”, creating new comprehensive development level of national economic
highlights of institutional innovation. and technological development zones by the Ministry of
Commerce in 2017.
During 2015-2017, the Hengqin Free Trade Pilot Zone
actually implemented 310 institutional innovations, and
many breakthroughs took the lead in China. Over the
past three years, Hengqin’s GDP has grown from 6.80
billion yuan (2014, the same below) to 18.36 billion yuan,
with an average annual increase of 39.2%. Investment
in fixed assets has increased from 24.681 billion yuan
to 41.23 billion yuan, with an average annual increase
of 18.7%. The actual foreign investment absorbed and
utilized has increased from US$260 million to US$670
million, with an average annual increase of 37.8%. By
April 2018, a total of 44 Fortune 500 enterprises and 72
China’s top 500 enterprises had settled down in Hengqin.
In October 2017, Zhuhai issued the Reform and
Development Implementation Plan for the Integration of
Hengqin, Bonded Area and Hongwan Area, which puts
forward that “after 5 to 10 years of efforts, the area will
be built into a bridge economic zone with outstanding
features and driving functions, a demonstration zone for
in-depth cooperation of Guangdong, Hong Kong and
Macao, and a new center of Zhuhai”.
In September 2018, Zhuhai Municipal Government
officially approved the “Development Plan for Regional
Integration of Hengqin New Area and Bonded Area,
Hongwan and Wanchai”, aiming to plan a high-standard
Bridge Economic Zone. After the opening of the Hong
Kong-Zhuhai-Macao Bridge, Hengqin will play an
increasingly significant role as a “platform” for Hong
Kong to expand westward, open up the broad economic
space in the west wing of the Pearl River Delta and even
the southwest region.
In addition to the Free Trade Zone, Guangdong has
six national economic and technological development
zones: Zhanjiang Economic and Technological
Development Zone, Guangzhou Economic and
Technological Development Zone, Guangzhou
Nansha Economic and Technological Development
Zone, Huizhou Daya Bay Economic and Technological
Development Zone, Zengcheng Economic and
Technological Development Zone and Zhuhai Economic
and Technological Development Zone. Among them,
Guangzhou Development Zone takes the lead in China
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by Hengqin New Area , i.e. “human capital investment” innovation, foreign trade and other indicators, and
and “list of legal responsibilities for market operations ranks the third place in China in the assessment on
in alignment with Hong Kong and Macao”, creating new comprehensive development level of national economic
highlights of institutional innovation. and technological development zones by the Ministry of
Commerce in 2017.
During 2015-2017, the Hengqin Free Trade Pilot Zone
actually implemented 310 institutional innovations, and
many breakthroughs took the lead in China. Over the
past three years, Hengqin’s GDP has grown from 6.80
billion yuan (2014, the same below) to 18.36 billion yuan,
with an average annual increase of 39.2%. Investment
in fixed assets has increased from 24.681 billion yuan
to 41.23 billion yuan, with an average annual increase
of 18.7%. The actual foreign investment absorbed and
utilized has increased from US$260 million to US$670
million, with an average annual increase of 37.8%. By
April 2018, a total of 44 Fortune 500 enterprises and 72
China’s top 500 enterprises had settled down in Hengqin.
In October 2017, Zhuhai issued the Reform and
Development Implementation Plan for the Integration of
Hengqin, Bonded Area and Hongwan Area, which puts
forward that “after 5 to 10 years of efforts, the area will
be built into a bridge economic zone with outstanding
features and driving functions, a demonstration zone for
in-depth cooperation of Guangdong, Hong Kong and
Macao, and a new center of Zhuhai”.
In September 2018, Zhuhai Municipal Government
officially approved the “Development Plan for Regional
Integration of Hengqin New Area and Bonded Area,
Hongwan and Wanchai”, aiming to plan a high-standard
Bridge Economic Zone. After the opening of the Hong
Kong-Zhuhai-Macao Bridge, Hengqin will play an
increasingly significant role as a “platform” for Hong
Kong to expand westward, open up the broad economic
space in the west wing of the Pearl River Delta and even
the southwest region.
In addition to the Free Trade Zone, Guangdong has
six national economic and technological development
zones: Zhanjiang Economic and Technological
Development Zone, Guangzhou Economic and
Technological Development Zone, Guangzhou
Nansha Economic and Technological Development
Zone, Huizhou Daya Bay Economic and Technological
Development Zone, Zengcheng Economic and
Technological Development Zone and Zhuhai Economic
and Technological Development Zone. Among them,
Guangzhou Development Zone takes the lead in China
80
