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Major policies of Hengqin

Clearance Policy

Based on the unique clearance system of "hierarchical management", the clearance management is implemented on the principles of "easing first hierarchy, controlling second hierarchy,

separating passengers from goods, and managing by classification" on the whole island;

The clearance procedures for residents in Hong Kong and Macao access into Hengqin are simplified, and the 24-hour clearance at the Lotus Bridge Port of Hengqin is advanced;

The regulations on access of vehicles with single plate of Macao into Hengqin (only driving in Hengqin) are formulated and implemented.

Financial Policy

Hengqin is encouraged to make innovations in financial business, financial institution admittance, financial market and financial products, expand the financing channel, and carry out the pioneering test on the convertibility of capital account.

The financial institutions in the area are allowed to conduct the foreign currency offshore business, prepare or introduce trust institution, issue industrial investment funds in various currencies, and launch the pilot of land trust fund in various currencies.

It is encouraged to set up and popularize the pledge financing of intellectual property right, earnings right, charging right, and accounts receivable, and make great efforts to develop the lease financing.

The trade platforms and financial institutions are encouraged to gather in Hengqin, and great efforts are made to popularize the non-cash payment instruments, in particular the electronic payment instruments.

The support is given to launch the pilot franchise business of individual domestic and foreign currency conversion, explore and develop the pilot two-way conversion between RMB and Macao Pataca and Hong Kong Dollar under individual item and within certain quota.

The cooperation with financial institutions in Hong Kong and Macao is reinforced, and the emphasis is laid on the construction of the financial backstage service base, and the exploration is made on the exchange of funds between Hengqin and Hong Kong and Macao in a free way.

Some of the examination and approval and supervision authorities involving the admittance of financial institutions and businesses, monetary transaction as well as the foreign exchange market are decentralized to the relevant financial supervision departments of Zhuhai.

When the banks in Macao establish branches or corporate bodies in Hengqin, the threshold for total assets is reduced to USD 4 billion.

Tax Policy

For the eligible enterprises, the enterprise income tax shall be imposed at the tax rate of 15%;

The register system is implemented for the production-related goods delivered from foreign countries into Hengqin, and the duty free or bonded policy shall be given;

The sales of the production-related goods made in Chinese Mainland to Hengqin shall be deemed as export, so the tax refund shall be implemented as provided for;

The goods trade between the enterprises in Hengqin New Area shall be exempted from value-added tax and consumption tax;

The Hong Kong and Macao's residents working in Hengqin shall be levied the individual income tax equal to that in Hong Kong and Macao. The full subsidy shall be given to the difference of individual income tax.

Industrial and Information Policy

Support Hengqin in acting as the pilot area for comprehensive reform of modern service industry.

Support Hengqin to strive for the preferential policy for national service outsourcing demonstration city.

Hengqin is allowed to approve the foreign investment in training institution independently; actively support the domestic education institutions to work with the education institutions in foreign countries and Hong Kong, Macao and Taiwan to launch the Sino-foreign cooperation in education, including the establishment of occupational skill training organ or the sponsoring of occupational skill training project.

Support the development of Guangdong and Macao Cooperation Industrial Park, encourage the innovative research on traditional Chinese medicines, and authorize to pioneer the medicine supervision mechanism reform measures of Guangdong Province.

The telecommunication operators in Macao are allowed to establish joint ventures with domestic telecommunication operators in Hengqin to engage in the fundamental telecommunication business and value-added telecommunication business.

Encourage the innovation of the telecommunication operation management mode in Hengqin, and explore and formulate the more favorable rate scheme.

Encourage the pilot mutual recognition of the electronic signature certificates from Guangdong, Hong Kong and Macao in Hengqin.

(Source: Management Committee Office of Hengqin)