In the midst of a rapidly evolving global economy, the Hengqin Guangdong-Macao Cooperation Zone is emerging as a pivotal player in China's regional development strategy. This zone is not only a testament to the effectiveness of the \"One Country, Two Systems\" policy but also a beacon of innovation and growth.
The \"One Country, Two Systems\" framework grants Macao a high degree of autonomy, enabling it to maintain its financial systems while leveraging the vast market and resources of the Chinese mainland. This unique arrangement has laid a robust foundation for Macau's economic advancement and seamless integration with Guangdong's dynamic economy.
Central to this integration is the Hengqin Cooperation Zone, which serves as a magnet for资本, cutting-edge technology, and top-tier talent. The zone's special policies, such as expanded tax exemptions and bonded policies for a broader range of entities and goods, have significantly lowered operational costs for businesses. These incentives have particularly attracted manufacturing enterprises, fostering a surge of investment and enterprise activity within the zone.
One of the standout measures in the cooperation zone is the tax exemption for goods that include imported materials with a processing value-added of 30 percent or more when entering the mainland market through the \"second-line.\" This policy has not only reduced costs for businesses but has also enhanced the zone's attractiveness as a hub for economic activity.
Focusing on four key industrial areas—Technology R&D and high-end manufacturing, Traditional Chinese Medicine (TCM) and other Macao characteristic brand industries, cultural tourism and commerce, as well as finance—the Hengqin Cooperation Zone aligns seamlessly with Macao's \"1+4\" strategy. This strategic focus ensures moderate diversification and synergistic growth, positioning the zone as a cornerstone for sustainable economic development.
As the Hengqin Guangdong-Macao Cooperation Zone continues to evolve, it stands as a shining example of how thoughtful policy-making and strategic collaboration can drive economic innovation and growth, not just for Macao, but for the broader region.
Reference(s):
Hengqin Guangdong-Macao cooperation zone: New economic horizons
cgtn.com
