Page 94 - AmCham South China 2026 Special Report on the State of Business in South China

February 2025, Shenzhen unveiled a new action Hengqin new area of Zhuhai
plan to further empower Qianhai¡¯s pilot role in
35
financial opening up. Hengqin is an island located at the western tip
of Macau and the southern tip of Zhuhai. With an
New Plan to propel Qianhai into a new era area of 106 km , the Hengqin Guangdong-Macau
2
of integration and high-quality development In-depth Co-operation Zone covers the entire
Hengqin island. Geographically, Hengqin falls within
In December 2023, the National Development the boundaries of Zhuhai, yet the cooperation
and Reform Commission released the Overall zone will be managed by the Guangdong province
Development Plan for the Qianhai Shenzhen- as specified in the government plan.
Hong Kong Modern Service Industry Cooperation
Zone , outlining a visionary roadmap with targets The GDP of Hengqin cooperation zone grew 5.3%
36
set for 2025, 2030 and 2035: YoY in 2024, reaching RMB53.8 billion. Although
overall economic growth moderated slightly to 5%
1. By 2025: Achieve comprehensive alignment YoY in H1 2025, consumption rebounded 42.1%
with the rules and mechanisms of Hong Kong and YoY, with total retail sales in the area reaching
Macau, create a globally competitive business RMB2.5 billion . To further empower cross-border
38
environment, establish several industrial clusters digital trade, Hengqin launched a trusted data
valued at over RMB100 billion, build an innovation space that leverages the ¡°technology + regulation
system with multiple driving forces and develop a + application¡± framework to enable international
modern coastal urban area. data collaboration. A new regional tax policy aimed
at promoting offshore trade was also introduced
2. By 2030: Significantly improve convenience in 2025, exempting enterprises registered in the
for Hong Kong and Macau residents studying, cooperation zone from stamp duty on contracts
working and living in Qianhai, and elevate Qianhai¡¯s for offshore resale transactions.
business environment to a globally top-tier level.
On 6 September 2021, the government
3. By 2035: Position Qianhai as a new announced the Overall Plan for Building the
international trade center, a high-end shipping Guangdong-Macau In-depth Cooperation Zone
service center hub and a livable coastal residence in Hengqin . The plan defines the strategic
39
center, with development experience that can be position of the zone as a new platform to boost
replicated and referenced by other regions and cities. Macau¡¯s appropriate economic diversification, a
new space that provides convenience for Macau
Qianhai unveiled new action plan to residents¡¯ lives and employment, a new model to
37
boost market integration with Hong Kong enrich the practice of ¡°one country, two systems¡±,
as well as a new high ground for building the GBA .
40
In March 2025, Qianhai launched an action plan
to strengthen industrial collaboration with Hong Major efforts will focus on expanding four
Kong and accelerate Shenzhen-Hong Kong market industries:
integration. The plan, which outlines 23 key tasks,
aims to streamline the efficient cross-border ? Fostering the growth of scientific
flow of resources by 2025 and foster alignment and high-end manufacturing sectors such as
of rules and mechanisms, including regulatory integrated circuits, electronic components, new
standardization in finance, data, cross-border materials, new energy, big data, AI, internet of
trade and construction. things and biomedicine.

35 https://www.cnbayarea.org.cn/city/shenzhen/zxdt/ 38 Guangdong-Macau In-Depth Cooperation Zone in
content/post_1283126.html Hengqin, https://www.hengqin.gov.cn/stats/tjsj/jjyxqk/
36 https://qh.sz.gov.cn/sygnan/xxgk/xxgkml/zcfg/zzwj/ content/post_3819221.html
content/post_11063234.html 39 The State Council, http://www.gov.cn/
37 Government site of Guangdong, https://www. zhengce/2021-09/05/content_5635547.htm
gd.gov.cn/gdywdt/zwzt/ygadwq/zdhzpt/qh/content/ 40 The expansion plan for building Guangdong-Macau
post_4675669.html in-depth cooperation zone, http://www.chinadaily.com.
cn/a/202109/05/WS6134a902a310efa1bd66d691.html
94 95