Page 84 - 2021 Special Report
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scientific and technological services and cultural Hengqin New Area of Zhuhai
creativity, and forms an industrial linkage and
complementary advantages with the Qianhai Area. On 23 April 2015, the Hengqin Pilot Free Trade
Zone was officially established. The strategic
The Qianhai Shenzhen-Hong Kong Cooperation positioning of the Hengqin New Area of Zhuhai
Zone overlaps with the functions and policies is to: (i) prioritize tourism, leisure and health,
of pilot free trade zones and follows the “three business financial services, culture, science,
zones” model of “Cooperation Zone + Pilot Free education, high-tech and other industries; (ii)
Trade Zone + Bonded Por t Area”. These policies establish an open area leading cultural and
include those shared by pilot free trade zones in education services, and a leisure and recreation
Mainland China and also policies unique to the base for international commercial services; and (iii)
Qianhai Cooperation Zone, such as a reduced create a new carrier that promotes appropriate
corporate income tax of 15%, preferential and diversified economic development in Macau.
individual income tax and other tax policies. The
comparative advantages are more prominent. The gross regional product of Hengqin Free
Trade Zone increased from 12.68 billion RMB
On 31 August 2020, in order to (i) promote (2015) to 40.124 billion RMB (2019), with an
the construction and development of the China average annual growth rate of 26.40%. Fixed asset
(Guangdong) Pilot Free Trade Zone in Shenzhen, investments increased from 28.983 billion RMB to
the Qianhai Shekou Area, (ii) consistently raise 47.199 billion RMB, with an average annual growth
the level of trade and investment liberalization rate of 15.48%. Revenue in general public budgets
and facilitation, and (iii) build an institutional rose from 3.78 billion RMB to 6.395 billion RMB,
system commensurate with the development of an average annual increase of 20.97%. Actual FDI
an open economy, the National People's Congress rose from US$426 million to US$1.571 billion, an
(NPC) Standing Committee of Shenzhen issued average annual growth rate of 64.59%. Imports
“Regulations of Shenzhen Special Economic Zone and exports increased from US$1.058 billion to
Q i a n h a i S h e k o u Fr e e Tr a d e Pi l o t A r e a”. O n 2 8 US$3.476 billion, representing an average annual
August 2020, Qianhai Administration of Shenzhen growth rate of 66.33%.
Municipality issued the “Interim Measures of
Shenzhen Qianhai Shenzhen-Hong Kong Modern In the next step, Hengqin will take the initiative
Service Industry Cooperation Zone for Investment to communicate and negotiate with all sectors of
Attraction Rewards” to accelerate the introduction Macau, further leverage the advantages of the
and cultivation of high-quality enterprises, enlarge Macau Free Trade Port, strive for a more open
and strengthen the local economic scale of the system and smoother docking with Macau, and
Qianhai Shenzhen-Hong Kong Modern Service promote a substantial breakthrough in Qin-Macau
Industry Cooperation Zone, further compensate, cooperation.
stabilize and strengthen the chain, and promote
the high-quality development of the industry. Shenzhen Socialist Pioneering Demon-
By the first half of 2020, the added value of stration Zone
registered enterprises in the Free Trade Zone
had increased by 13.3%. The added value of The Shenzhen Special Economic Zone (the
local enterprises (excluding the financial sector) “Zone”) is located on the southeast coast of
increased by 21.4%. Tax contributions rose 1.8%. Guangdong Province. It was officially established
Fixed asset investments increased by 6.3%. Actual in August 1980 and is one of the first four special
utilized foreign capital was US$2.889 billion, up economic zones in China to be opened to the
15.1%. Imports and exports were 464.076 billion world. The Zone starts from Meisha in Dapeng
RMB in customs caliber, up 21.4%, including Bay in the east and the Shekou Industrial Zone
86.815 billion RMB in the Qianhai Bay Bonded Port in Shenzhen Bay to the west, with a total area
Area, up 61.5%. of 327.5 square kilometers. The scope of the
Zone extends to the Shenzhen-Shanshan Special
84
creativity, and forms an industrial linkage and
complementary advantages with the Qianhai Area. On 23 April 2015, the Hengqin Pilot Free Trade
Zone was officially established. The strategic
The Qianhai Shenzhen-Hong Kong Cooperation positioning of the Hengqin New Area of Zhuhai
Zone overlaps with the functions and policies is to: (i) prioritize tourism, leisure and health,
of pilot free trade zones and follows the “three business financial services, culture, science,
zones” model of “Cooperation Zone + Pilot Free education, high-tech and other industries; (ii)
Trade Zone + Bonded Por t Area”. These policies establish an open area leading cultural and
include those shared by pilot free trade zones in education services, and a leisure and recreation
Mainland China and also policies unique to the base for international commercial services; and (iii)
Qianhai Cooperation Zone, such as a reduced create a new carrier that promotes appropriate
corporate income tax of 15%, preferential and diversified economic development in Macau.
individual income tax and other tax policies. The
comparative advantages are more prominent. The gross regional product of Hengqin Free
Trade Zone increased from 12.68 billion RMB
On 31 August 2020, in order to (i) promote (2015) to 40.124 billion RMB (2019), with an
the construction and development of the China average annual growth rate of 26.40%. Fixed asset
(Guangdong) Pilot Free Trade Zone in Shenzhen, investments increased from 28.983 billion RMB to
the Qianhai Shekou Area, (ii) consistently raise 47.199 billion RMB, with an average annual growth
the level of trade and investment liberalization rate of 15.48%. Revenue in general public budgets
and facilitation, and (iii) build an institutional rose from 3.78 billion RMB to 6.395 billion RMB,
system commensurate with the development of an average annual increase of 20.97%. Actual FDI
an open economy, the National People's Congress rose from US$426 million to US$1.571 billion, an
(NPC) Standing Committee of Shenzhen issued average annual growth rate of 64.59%. Imports
“Regulations of Shenzhen Special Economic Zone and exports increased from US$1.058 billion to
Q i a n h a i S h e k o u Fr e e Tr a d e Pi l o t A r e a”. O n 2 8 US$3.476 billion, representing an average annual
August 2020, Qianhai Administration of Shenzhen growth rate of 66.33%.
Municipality issued the “Interim Measures of
Shenzhen Qianhai Shenzhen-Hong Kong Modern In the next step, Hengqin will take the initiative
Service Industry Cooperation Zone for Investment to communicate and negotiate with all sectors of
Attraction Rewards” to accelerate the introduction Macau, further leverage the advantages of the
and cultivation of high-quality enterprises, enlarge Macau Free Trade Port, strive for a more open
and strengthen the local economic scale of the system and smoother docking with Macau, and
Qianhai Shenzhen-Hong Kong Modern Service promote a substantial breakthrough in Qin-Macau
Industry Cooperation Zone, further compensate, cooperation.
stabilize and strengthen the chain, and promote
the high-quality development of the industry. Shenzhen Socialist Pioneering Demon-
By the first half of 2020, the added value of stration Zone
registered enterprises in the Free Trade Zone
had increased by 13.3%. The added value of The Shenzhen Special Economic Zone (the
local enterprises (excluding the financial sector) “Zone”) is located on the southeast coast of
increased by 21.4%. Tax contributions rose 1.8%. Guangdong Province. It was officially established
Fixed asset investments increased by 6.3%. Actual in August 1980 and is one of the first four special
utilized foreign capital was US$2.889 billion, up economic zones in China to be opened to the
15.1%. Imports and exports were 464.076 billion world. The Zone starts from Meisha in Dapeng
RMB in customs caliber, up 21.4%, including Bay in the east and the Shekou Industrial Zone
86.815 billion RMB in the Qianhai Bay Bonded Port in Shenzhen Bay to the west, with a total area
Area, up 61.5%. of 327.5 square kilometers. The scope of the
Zone extends to the Shenzhen-Shanshan Special
84
