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iCity Seamlessly Connecting HK-Macau-Zhuhai

HK-Zhuhai-Macao Bridge
40 Mins HK to Hengqin

Macau Light Railway
Extension Line to Hengqin

 

GZ–Zhuhai Intercity Railway Extension
Transfer at the Hengqin Station

Shenzhen–Zhongshan Bridge
Connecting Qianhia and Hengqin

China's Third State-Approved Major New Area
A Special Economic Zone with an Extraordinary Position

Hengqin has become China's third state-approved new area. Comparing to Tianjin and Shanghai, Hengqin has an extraordinary geographical advantage of being adjacent to Hong Kong and Macau. In addition, the development of Hengqin is included in China’s National 12th Five-Year Plan. The central government’s decision on adopting an international business standard on the rule of law and concessionary tax policies in the Hengqin free trade area has also benefited the city of Zhuhai, making it an important window for the opening of up China to the world.

1

Rapid Economic Growth

The economy in Hengqin is taking off! Since its establishment six years ago, the GNP of Hengqin New Area grows 32 times, with an average annual growth rate of 78.4%. Following the completion of major infrastructure and construction projects in the next few years, the development of the region will be further accelerated.

2

A Strategic Location for Business

Over 20,000 enterprises have been registered in Hengqin. The wealth management institutes there manage assets of over RMB1.9 trillion. 63 of the world’s top 500 enterprises have offices present in Hengqin, and China’s top 500 enterprises have invested a total of 98 projects there, of which 82 are under construction and with an investment amount exceeding RMB 320 billion.

3

Tax Concessions in the Hengqin New Area

  • Tax exemptions or bonded warehouse for industrial materials imported to Hengqin,
  • Exemption from VAT and consumption tax for goods traded among enterprises in Hengqin,
  • Concessionary corporate tax rate at 15% on seven major industries,
  • HK residents with HK tax rate, and Macau residents with Macau tax rate.

 

4

Business Preferential Policies in the Free Trade Area

Human Resources Policy
  • Provide incentives to talents who are able to bring actual contribution to the Area.
Enterprise Regulatory Policy
  • Implement the policy on liberalization of trade in services; and
  • Relax restrictions on share ratio and business scopes on certain industries for HK and Macau investors.
Offshore RMB Business
  • Encourage and promote intellectual property rights intensive industries and business concerning income right, charge right, accounts receivable financing pledge, and lease financing.
Financial Policy
  • Relax restrictions on the operation of credit card business, foreign exchange and the establishment of financial institutions in the free trade area.

 

5

Housing Shortage in Zhuhai

Zhuhai has an unsold housing of 1.7580 million square meters, which can be easily digested by the market in six months. With such few months of inventory, Zhuhai is entering a cycle of shrinking housing supply. As the pool of land in Zhuhai is getting less and less, the average housing price has gone up for nine consecutive years.

 

6

Development Pressing the Demand for Housing in Hengqin

The island of Hengqin has a total area of 106 km2, but only 26% of the land is developable. According to development blueprint of the State Council, the “Overall Plan for the Development of Hengqin," the total residential area on the island cannot exceed 17%. Though existing residential projects only take up 5% of the land, with the completion of most of the infrastructure projects in the very near future, the housing demand on the island will grow up significantly.

 

A State-Approved Special Economic Zone

  • “The Belt and Road”
    Maritime Silk Rd
  • CEPA
    Free Trade Agreement
  • Top Ten Ports of Entry
    in China
  • Guangdong-HK-Macao
    Big Bay Area
Hengqin, an important stop of the Maritime Silk Road Economic Belt, connects China to countries in Southeast Asia and opens the window of China to the World.
Zhuhai is the only city in China with connecting to HK by highway. iCity is located in the Hengqin Island, south of Zhuhai, and it benefits from the “Closer Economic Partnership Arrangement (CEPA)” signed among the Mainland, HK, and Macao. As a national strategic platform, Hengqin is the first world geared and HK Macao prioritized demonstration area in close cooperation with Guangdong. It is hailed as “a new landmark of Reform and Opening Up.” Under the state-driven reform plan, it will become an area for scientific and technological innovation and a resort area to promote the west coast of Pearl River for international tourism. 
Since 2004, Hengqin port has been the top ten ports in the country for five consecutive years. Since the implementation of the 24-hour customs clearance, the number of customs clearance has increased to 7 million in 2015. Also, vehicles with Macao single license plate can now travel to Hengqin freely.
Guangdong-Hong Kong-Macao Big Bay Area (GHMBBA) is formed by a cluster of cities from Guangzhou, Zhuhai to the two special administrative regions in HK and Macau. The economic significance of GHMBBA can be comparable to the Bay Areas in New York, San Francisco, and Tokyo.