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Guangdong, Hong Kong to start 90 joint programs in 2015

2015-March-19       Source: Newsgd.com

Guangdong and Hong Kong are to deepen the cooperation in 90 essential programs in 2015, including construction of cross-border infrastructure, finance, professional services and education, etc, Guangdong government announced on March 18.

Guangdong and Hong Kong are to deepen the cooperation in 90 essential programs in 2015, including construction of cross-border infrastructure, finance, professional services and education, etc, Guangdong government announced on March 18.

Cross-border infrastructure

Guangzhou-Shenzhen-HK High-Speed Railway’s construction (the phase links SZ North Railway Station to HK) will be completed by the end of 2015 and the railway in HK will be completed by 2017. Besides, Shenzhen East Transit Highway is another important mainland-Hong Kong link and its construction would be completed in 2018.

In addition, the construction of Hong Kong-Zhuhai-Macao Bridge is under high attention, it is said that detailed accessing policy would be worked out on schedule.

Finance

Guangdong mulls extend the current policy of cross-border loaning in Qianhai (in Shenzhen) to Nansha (in Guangzhou) and Hengqin (in Zhuhai). Also, the restriction on lender might be extended from previous banking or financial institutions from Hong Kong to financial institutions from both Hong Kong and Macao to attract more investment.

Besides, based on Guangdong Free Trade Zone’s construction, Nansha, Qianhai and Hengqin would have different financial cooperation with Hong Kong. Guangdong would take advantage of “Shenzhen-HK stock connect” policy for a deeper cooperation with Hong Kong in stock market.

Professional service

Enterprises investing in Qianhai will be allowed to choose laws of HK as their applicable law and choose HK for the place of arbitration. By means of this, it might help to attract more HK enterprises to enter Shenzhen.

Moreover, Guangdong will gradually increase quota for Guangdong-Hong Kong joint law firm, and allow them to open not only in Nansha, Qianhai and Hengqing, but to the entire Guangdong Province. (By Will)

 

Editor: 王凯

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