More special policies are to be approved for MSAR residents in aspects relating to co-operation between the MSAR and Hengqin, according to the Hengqin New District Adminsitrative Committee (HDAC). In particular, policies relating to clearance, healthcare, education, finance, telecommunications, innovative startups, standard docking and licence approval, according to the administrative body, the group notes in a report on how to achieve satisfactory devellopment between the two regions.
Both special policies in co-opeation and expediting major projects of the regions are priorities, according to the report.
With the 20th anniversary of the handover of the MSAR and the 10th anniversary of the development of Hengqin occurring in 2019, the HDAC says this progress will be the primary concern both for government leaders and parties from different sectors.
Given the ‘one country, two systems’, HDAC points out significant difficulties will be encountered when policies needing to be amended involve several authorities from outside of each region.
HDAC notes that the completion of the Hong Kong-Zhuhai-Macau Bridge is one of the main factors in encouraging co-operation in the construction of the Greater Bay Area plan, specifically defining the MSAR’s role within the project.
In particular, HDAC will expedite the development of the Guangdong-Macau Co-operation Industrial Park with the rollout of policies such as launching the application for the third batch of businesses to be set up in the Park.
Secondly, Hengqin will hold the ‘China-Latin-American International Expo’ in which all sectors from the MSAR are welcome to participate.
On the other hand, together with Macao Economic Services, HDAC will build a service platform for youths from Guangdong and Macau who are interested in starting up a business in Hengqin, which will enhance the support of business from Macau in the Innovalley, notes the group.
Moreover, the neighbouring Chinese city is striving to lower the threshold for Macau-based financial institutions, supporting these institutions to establish joint venture licensed securities companies with Chinese institutions under the CEPA (Closer Economic Partnership Arrangement) framework.
HDAC is also placing effort in creating a closer connection between the two regions by connecting the Light Rail Transit by accelerating the construction of a transportation hub in Hengqin.