Guangdong FTZ to further cooperation with HK, Macao

Recently, Guangdong Pilot Free Trade Zone (FTZ) issued a draft outline of the 14th Five Year Plan (2021-2025), saying that it is to build an international shipping and trade hub in the Greater Bay Area (GBA), and to deepen cooperation with Hong Kong, Macao SARs.

According to the plan, Guangdong FTZ’s total import and export volume will reach 400 billion yuan by 2025, and the container throughput will reach 37 million TEUs.

To facilitate a deeper cooperation between Hong Kong and Macao, Guangdong FTZ plans to attract actual investment about 35 billion USD from Hong Kong and Macao from 2021-2025. Meanwhile, the FTZ will have 30,000 new companies invested by Hong Kong, Macao.

The outline also proposes to further the cooperation with the two SARs in sectors including talent, finance, innovation and technology. For instance, some specific measures are put forward to further opening-up service industry, facilitate customs clearance as follows.

● Deepen cooperation in professional service industries such as medical care, law, education, architecture and tourism.

● Simplify the investment approval process for Hong Kong and Macao investors.

● Facilitate more Macao single-plate vehicles to entry and exit Hengqin, Zhuhai.

● Solicit approval from the country to implement 144-hour visa-free transit for foreign tourists at cruise ports of Guangzhou’s Nansha, Shenzhen’s Prince Bay and Zhuhai’s Hengqin Port.

● Support yacht ports in Guangzhou, Shenzhen and Zhuhai to joint-establish free travel ports for yachts in Guangdong, Hong Kong and Macao.

● To connect with Hong Kong and Macao social and medical insurance systems, and promote the extension of SARs’ social welfare measures to the FTZ.

Scientific and innovation cooperation with Hong Kong, Macao is another highlight in the outline. It will support key industrial cooperation platforms, including one focussing on Guangdong and Macao’s cooperation with Portuguese speaking countries.

The plans also emphasized the co-effort in R&D in next-generation information technology, AI, bio-medicine and to foster more talents in leading the science researches.

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