After the master plan for Hengqin’s Guangdong-Macao Deep Cooperation Zone was issued in September 2021, Macao-funded firms accounted for 72% of the 971 newly established non-mainland-owned enterprises in Hengqin. , said the District Authority.
The statistics, released by Hengqin’s administrative office, summarize the Zone’s achievements since its establishment one year ago.
The general plan for the construction of the Guangdong-Macao Deep Cooperation Zone in Hengqin defines the zone’s strategic position as a new platform to promote appropriate economic diversification of Macau. It is a new space for convenient living and employment for Macao residents, a new model to enrich the practice of “one country, two systems”, and a new platform for building the Guangdong-Hong Kong-Macao Greater Bay Area.
The plan proposes four major industries: high-tech R&D and high-end manufacturing, traditional Chinese medicine and other Macau-characteristic businesses, culture, tourism, conventions and exhibitions, and modern finance.
According to statistics, according to the actual tax cuts, overall taxes for Macao residents in Hengqin will be reduced by up to 70%, and the corporate income tax incentives enjoyed by Hengqin enterprises will be RMB 946 million (1.1 billion yuan). MOP) was reached. /US$136 million), nearly doubling year-over-year.
In order to attract more market players, Hengqin has adopted a 15% reduced corporate income tax rate, but Hengqin’s domestic and foreign talents are exempted from personal income tax above 15%.
Macau residents working in the zone are exempt from the portion of their personal income tax burden that exceeds Macau standards, but the tax burden in Macau is calculated with reference to the relevant provisions of Macau’s tax law on professional income tax and supplementary income tax. increase.
In terms of investments accumulated over the years, some 7,800 non-mainland-owned companies were registered on the adjacent islands, nearly two-thirds (64%) of which were Macau-owned companies.
Financial industry gaining momentum
Meanwhile, the added value of the financial industry in Hengqin’s Guangdong-Macao Deep Cooperation Zone in the first half of this year reached RMB 8.2 billion, representing an increase of 11% over the previous year. The Border Wealth Management Connect scheme has recorded transactions in excess of RMB 30 million, with over 90% of his total transactions related to Macau.
The Cross-Border Wealth Management Connect Scheme will allow residents of Hong Kong and Macao to invest in onshore Chinese investment products through banks in the Greater Bay Area, while residents of nine Guangdong cities will be able to invest in Hong Kong through local lenders. and Macau wealth products.
A total of 194 Macau students were enrolled in the cooperative zone as of September 1, an increase of 66% compared to the same period last year.
Macau students whose guardians work or live in Hengqin have the same priority as students with Hengqin household registrations and are entitled to school enrollment and enjoy Macau education allowances.
Five innovation and entrepreneurship hubs for young people in Macau and Hong Kong have been established, with a total of 536 Macau projects established as of July.
In addition, more than 1,000 Macau professionals in the fields of construction, tourism and healthcare have obtained cross-border practical qualifications.
From the establishment of the cooperation zone in 2021 to August 31 this year, the volume of tourists and vehicles passing through Hengqin Port reached 7 million and 1 million respectively.
From August 22nd, the limit of 10,000 Macau registered light vehicles in Hengqin has been lifted, and the total number of Macau non-commercial vehicles (9 seats or less) has been lifted. Hengqin Guangdong-Macao Deep Cooperation Zone.
