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Zhuhai to extend limitation for Macao-licensed vehicles entering Hengqin

2017-January-26       Source: Newsgd.com

Due to special location of Hengqin FTZ, Zhuhai is planning to carry on further measures to facilitate links with Macao, so as to make Hengqin FTZ a hub of opening up, meeting high international standards for investment and trade.

Due to special location of Hengqin FTZ, Zhuhai is planning to carry on further measures to facilitate links with Macao, so as to make Hengqin FTZ a hub of opening up, meeting high international standards for investment and trade.

This was revealed by Zheng Renhao, Mayor of Zhuhai during the newly-closed 5th session of 12th Guangdong Provincial People’s Congress on January 22th.

Zheng indicated that new measures on Macao vehicles with single license plate entering Hengqin New Area will be announced after the Spring Festival, and the permission will be much easier to get for Macao-licensed vehicles. “The limitation for Macao-tagged vehicles will be extended.”

On December 22th of 2016, Vehicles with Macao license plate crossed the border into Chinese mainland, for the first time, as the special economic zone takes steps to facilitate cross-border cooperation.

To be eligible for a temporary license plate to enter the Chinese mainland, at present, owners of Macao vehicles must have a registered company in Hengqin that ranks among the top 100 highest tax paying businesses. They must also promise to continue to operate the company in Hengqin for at least five years.

Great progresses have been made in Hengqin FTZ, forming a batch of measures that can be copied and promoted widely. Zheng stated that in future Zhuhai will boost the establishment of platform for business cooperation between China and Latin American countries in Hengqin FTZ, co-constructing free trade industrial parks with Macao, as well as Portuguese-speaking countries.

Also Hengqin FTZ will deepen reforms on mechanism of investment and trade, experimenting to carry out regulations with international standards. Also limitations on Hong Kong and Macao investors’ establishing financial organizations in Hengqing FTZ would be extended under the framework of CEPA.

Besides, Guangdong-Macao Information Hub will be continued, with more co-established labs and research centers planned. Incubation bases will also be set to help youth in Guangdong and Macao to start up business in Hengqin FTZ.

(by Nan)

Editor: Will

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