Page 82 - 2020 Special Report on the State of Business in South China
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commercial services; and (iii) to create a Guangdong Province. It was officially established
new carrier that promotes appropriate and in August 1980 and is one of the first four special
diversified economic development in Macau. economic zones in China to be opened to the
world. The Zone starts from Meisha in Dapeng
As a special area in the special zone, the Bay in the east and the Shekou Industrial Zone
Hengqin New Area enjoys special customs in Shenzhen Bay to the west, with a total area
clearance, financial and taxation policies, special of 327.5 square kilometers. The scope of the
land policies, open industry and informatization Zone extends to the Shenzhen-Shanshan Special
policies and innovative financial policies. In Cooperation Zone in 2011, and it will take full
2019, Hengqin committed to building itself into a charge of Shenzhen-Shanshan District in 2018.
leisure and tourism city. On April 9, the National
Development and Reform Commission issued the Shenzhen's economy is developing rapidly, and
"State Council's Reply on the Construction Plan its economy is generally stable. As of the end of
of Hengqin International Leisure Tourism Island" 2018, the city's GDP was Rmb2,422.198 billion,
to create the Tianmu River Tourism and Leisure an increase of 7.6% over the previous year. In
Belt, the Ecological Leisure Green Corridor, and terms of different industries: (i) the added value of
the Southern Dynamic Entertainment Tourism primary industries was Rmb2.209 billion, with an
Industry Focus Area. On November 1, 2019, the increase of 3.9%; (ii) the added value of secondary
Hengqin Administrative Committee issued the industries was Rmb969,195 million, with an
“Interim Measures on Further Supporting the increase of 9.3%; and (iii) the added value of
Innovation and Entrepreneurship of Macao Youths tertiary industries was Rmb1,42,794 million, with
in Hengqin” supporting the development of young an increase of 6.4%. The three industrial structures
Macao entrepreneurs in Hengqin and building an were adjusted from 0.1: 41.4: 58.5 in the previous
incubation center for Macao youth. year to 0.1: 41.1: 58.8. The added value of the
city's industrial enterprises above the designated
The Hengqin New Area and Macau employ a size was Rmb109.154 billion, with an increase of
double-win cooperation model. As of September 9.5%. The city's fixed asset investment increased
2019, the Hengqin New Area has: (i) cultivated 236 by 20.6%, of which real estate development
Hong Kong and Macau entrepreneurial projects, investment increased by 23.6%, and non-real
of which 213 are Macao projects; and (ii) newly estate development investment increased by
registered nearly 500 Macao enterprises, totaling 18.4%. From the perspective of major industries,
1,806. Over USD12 billion has been invested and industrial investment increased by 8.2%, and
Hengqin has become the most concentrated area private investment increased by 12.5%, accounting
for Macau-funded enterprises in Mainland China. for 47.6% of total fixed asset investment. In 2018,
In addition, Hengqin encourages cross-border the city's commercial housing sales area increased
commuting, and 28 Macao enterprises have by 7.6%.
settled in.
On August 9, 2018, the Central Committee
In the next step, Hengqin will take the of the CPC and the State Council jointly issued
initiative to communicate and negotiate with the "Opinions of the Central Committee of
all sectors of Macao, further leverage the the Communist Party of China and the State
advantages of the Macao Free Trade Port, Council on Supporting the Building of Shenzhen
strive for a more open system and smoother into the Pilot Demonstration Area of Socialism
docking with Macao, and promote a substantial with Chinese Characteristics" (the "Shenzhen
breakthrough in Qin-Macao cooperation. Opinions"). The Shenzhen Opinions propose that
Shenzhen’s development objectives are to: (i) by
Shenzhen Socialist Pioneering 2025, achieve world-class economic strength and
Demonstration Zone development quality, guarantee its world-class
R&D investment intensity and industrial innovation
The Shenzhen Special Economic Zone (the capacity, substantially improve its cultural soft
“Zone”) is located on the southeast coast of strength, and ensure that its public service level
82
new carrier that promotes appropriate and in August 1980 and is one of the first four special
diversified economic development in Macau. economic zones in China to be opened to the
world. The Zone starts from Meisha in Dapeng
As a special area in the special zone, the Bay in the east and the Shekou Industrial Zone
Hengqin New Area enjoys special customs in Shenzhen Bay to the west, with a total area
clearance, financial and taxation policies, special of 327.5 square kilometers. The scope of the
land policies, open industry and informatization Zone extends to the Shenzhen-Shanshan Special
policies and innovative financial policies. In Cooperation Zone in 2011, and it will take full
2019, Hengqin committed to building itself into a charge of Shenzhen-Shanshan District in 2018.
leisure and tourism city. On April 9, the National
Development and Reform Commission issued the Shenzhen's economy is developing rapidly, and
"State Council's Reply on the Construction Plan its economy is generally stable. As of the end of
of Hengqin International Leisure Tourism Island" 2018, the city's GDP was Rmb2,422.198 billion,
to create the Tianmu River Tourism and Leisure an increase of 7.6% over the previous year. In
Belt, the Ecological Leisure Green Corridor, and terms of different industries: (i) the added value of
the Southern Dynamic Entertainment Tourism primary industries was Rmb2.209 billion, with an
Industry Focus Area. On November 1, 2019, the increase of 3.9%; (ii) the added value of secondary
Hengqin Administrative Committee issued the industries was Rmb969,195 million, with an
“Interim Measures on Further Supporting the increase of 9.3%; and (iii) the added value of
Innovation and Entrepreneurship of Macao Youths tertiary industries was Rmb1,42,794 million, with
in Hengqin” supporting the development of young an increase of 6.4%. The three industrial structures
Macao entrepreneurs in Hengqin and building an were adjusted from 0.1: 41.4: 58.5 in the previous
incubation center for Macao youth. year to 0.1: 41.1: 58.8. The added value of the
city's industrial enterprises above the designated
The Hengqin New Area and Macau employ a size was Rmb109.154 billion, with an increase of
double-win cooperation model. As of September 9.5%. The city's fixed asset investment increased
2019, the Hengqin New Area has: (i) cultivated 236 by 20.6%, of which real estate development
Hong Kong and Macau entrepreneurial projects, investment increased by 23.6%, and non-real
of which 213 are Macao projects; and (ii) newly estate development investment increased by
registered nearly 500 Macao enterprises, totaling 18.4%. From the perspective of major industries,
1,806. Over USD12 billion has been invested and industrial investment increased by 8.2%, and
Hengqin has become the most concentrated area private investment increased by 12.5%, accounting
for Macau-funded enterprises in Mainland China. for 47.6% of total fixed asset investment. In 2018,
In addition, Hengqin encourages cross-border the city's commercial housing sales area increased
commuting, and 28 Macao enterprises have by 7.6%.
settled in.
On August 9, 2018, the Central Committee
In the next step, Hengqin will take the of the CPC and the State Council jointly issued
initiative to communicate and negotiate with the "Opinions of the Central Committee of
all sectors of Macao, further leverage the the Communist Party of China and the State
advantages of the Macao Free Trade Port, Council on Supporting the Building of Shenzhen
strive for a more open system and smoother into the Pilot Demonstration Area of Socialism
docking with Macao, and promote a substantial with Chinese Characteristics" (the "Shenzhen
breakthrough in Qin-Macao cooperation. Opinions"). The Shenzhen Opinions propose that
Shenzhen’s development objectives are to: (i) by
Shenzhen Socialist Pioneering 2025, achieve world-class economic strength and
Demonstration Zone development quality, guarantee its world-class
R&D investment intensity and industrial innovation
The Shenzhen Special Economic Zone (the capacity, substantially improve its cultural soft
“Zone”) is located on the southeast coast of strength, and ensure that its public service level
82
