Page 146 - 2020 Special Report on the State of Business in South China
P. 146
- Support the Qianhai Mercantile Exchange of the Hong Kong Special Administrative Region
of Hong Kong Exchanges and Clearing Limited signed the “Agreement on Trading in Goods
in establishing a spot trading platform for bulk Under the Framework of Closer Economic
commodities to serve domestic and foreign Partnership Agreements between Mainland
customers, and explore new models to serve the China and Hong Kong”. Under the obligation of
substantial economy. national treatment, zero tariff quotas and no
tariff measures, the two parties signed trading
- Support Dongguan and Hong Kong to cooperation clauses on the principles of goods
cooperate in developing and building the origin and implementation procedures, customs
coastal area of Dongguan Binhaiwan New procedures and trade facilitation, sanitation
District, converge the headquarters of high-end and plant health measures, technical barriers
manufacturing industries, develop modern service to trade, trade remedies and trade facilitation
industries, and build a strategic emerging industry measures in the Guangdong-Hong Kong-Macao
R&D base. Greater Bay Area.
AdheretoandImproveSocialismwithChinese Special Economic Zones
Characteristics and Promote the Modernization
of the National Governance System and The Lok Ma Chau Loop “Hong Kong/
GovernanceCapabilities Shenzhen Innovation and Technology Park”
On November 5, 2019, the Central Committee The Lok Ma Chau Loop (an area south of
of the CPC released the “Decision of Several Shenzhen River and near the Lok Ma Chau control
Issues about Adhering to and Improving Socialism point in Hong Kong) was earmarked in March 2017
with Chinese Characteristics and Promote the to be developed into the Hong Kong/Shenzhen
Modernization of the National Governance System Innovation and Technology Park following a
and Governance Capabilities” (the “Decision”) to Memorandum of Understanding signed by the
emphasize adherence to and development of the Hong Kong and Shenzhen governments in January
"One County, Two Systems" policy and advance 2017 for cross-border collaboration.
peaceful reunification of the motherland. The
Decision proposes to: (i) fully and accurately At 87 hectares, it is anticipated to be the
implement the "One Country, Two Systems" and largest innovation and technology platform ever
“the people of Hong Kong govern Hong Kong” established in the history of Hong Kong and will
principles with a high degree of autonomy; (ii) act as a key base for cooperation in innovation and
improve the mechanism for the Central Committee technology research to attract top-tier enterprises,
of the CPC to govern the Special Administrative research institutions and higher education
Region according to the Constitution and the Basic institutes from Hong Kong, Mainland China and
Law; and (iii) carry out peaceful reunification of the the rest of the world.
motherland.
More importantly, the Park has two major
Closer Economic Partnership Agreements connecting areas: One is the adjoining area of the
between Mainland China and Hong Kong – Loop on the Hong Kong side with 182 hectares
Agreement on Tradingin Goods of land, designated as Area B in the development
plan. This area is two times larger than the Loop
In order to deepen the liberalization (Area A) and is reserved for further development.
and facilitation of trade in goods between The other is the Shenzhen Innovation and
Mainland China and the Hong Kong Special Technology Park located adjacent to the Loop on
Administrative Region and further improve the Shenzhen side (Area C) with a total area of 167
the level of economic and trade cooperation hectares. Both cities agreed to seek stronger policy
between the two sides, on December 14, 2018, support from the Central Government for the
the Ministry of Commerce of the People's Shenzhen/Hong Kong Technology and Innovation
Republic of China and the Financial Secretary
146
of Hong Kong Exchanges and Clearing Limited signed the “Agreement on Trading in Goods
in establishing a spot trading platform for bulk Under the Framework of Closer Economic
commodities to serve domestic and foreign Partnership Agreements between Mainland
customers, and explore new models to serve the China and Hong Kong”. Under the obligation of
substantial economy. national treatment, zero tariff quotas and no
tariff measures, the two parties signed trading
- Support Dongguan and Hong Kong to cooperation clauses on the principles of goods
cooperate in developing and building the origin and implementation procedures, customs
coastal area of Dongguan Binhaiwan New procedures and trade facilitation, sanitation
District, converge the headquarters of high-end and plant health measures, technical barriers
manufacturing industries, develop modern service to trade, trade remedies and trade facilitation
industries, and build a strategic emerging industry measures in the Guangdong-Hong Kong-Macao
R&D base. Greater Bay Area.
AdheretoandImproveSocialismwithChinese Special Economic Zones
Characteristics and Promote the Modernization
of the National Governance System and The Lok Ma Chau Loop “Hong Kong/
GovernanceCapabilities Shenzhen Innovation and Technology Park”
On November 5, 2019, the Central Committee The Lok Ma Chau Loop (an area south of
of the CPC released the “Decision of Several Shenzhen River and near the Lok Ma Chau control
Issues about Adhering to and Improving Socialism point in Hong Kong) was earmarked in March 2017
with Chinese Characteristics and Promote the to be developed into the Hong Kong/Shenzhen
Modernization of the National Governance System Innovation and Technology Park following a
and Governance Capabilities” (the “Decision”) to Memorandum of Understanding signed by the
emphasize adherence to and development of the Hong Kong and Shenzhen governments in January
"One County, Two Systems" policy and advance 2017 for cross-border collaboration.
peaceful reunification of the motherland. The
Decision proposes to: (i) fully and accurately At 87 hectares, it is anticipated to be the
implement the "One Country, Two Systems" and largest innovation and technology platform ever
“the people of Hong Kong govern Hong Kong” established in the history of Hong Kong and will
principles with a high degree of autonomy; (ii) act as a key base for cooperation in innovation and
improve the mechanism for the Central Committee technology research to attract top-tier enterprises,
of the CPC to govern the Special Administrative research institutions and higher education
Region according to the Constitution and the Basic institutes from Hong Kong, Mainland China and
Law; and (iii) carry out peaceful reunification of the the rest of the world.
motherland.
More importantly, the Park has two major
Closer Economic Partnership Agreements connecting areas: One is the adjoining area of the
between Mainland China and Hong Kong – Loop on the Hong Kong side with 182 hectares
Agreement on Tradingin Goods of land, designated as Area B in the development
plan. This area is two times larger than the Loop
In order to deepen the liberalization (Area A) and is reserved for further development.
and facilitation of trade in goods between The other is the Shenzhen Innovation and
Mainland China and the Hong Kong Special Technology Park located adjacent to the Loop on
Administrative Region and further improve the Shenzhen side (Area C) with a total area of 167
the level of economic and trade cooperation hectares. Both cities agreed to seek stronger policy
between the two sides, on December 14, 2018, support from the Central Government for the
the Ministry of Commerce of the People's Shenzhen/Hong Kong Technology and Innovation
Republic of China and the Financial Secretary
146
