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Macao delegates call for legal framework breakthrough, financial sandbox in Hengqin at China's Two Sessions

At the ongoing 2026 National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC), delegates from Macao have called for a transformative leap in the development of the Guangdong-Macao In-depth Cooperation Zone in Hengqin. 

By proposing a series of high-impact measures—ranging from a dedicated "Hengqin law" and a "financial sandbox" to the full coverage of Macao-registered medicines—these representatives aim to bridge the institutional gap and turn the "One Country, Two Systems" advantage into a tangible reality for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

The cornerstone of this integration lies in a robust legal and institutional foundation. NPC Deputy Vong Hin Fai emphasized the need for a "list-based" authorization model that empowers Guangdong and Macao to synergize their legislative powers, effectively resolving bottlenecks that cannot be addressed at the local level alone. 

This vision was expanded by CPPCC Standing Committee Member Lau Nga Vong, who proposed the drafting of a national "Guangdong-Macao In-Depth Cooperation Zone Law." He argued that such a framework would provide a package of authorizations for major reforms, ensuring that the zone has the necessary legal space to pioneer unprecedented administrative and commercial services.

In the realm of financial connectivity, delegates are pushing for a more seamless banking environment. Chui Sai Peng suggested a "small-cut" approach that would allow Macao banks in Hengqin to use their home-grown technical systems and service processes. 

To further test these waters, Sio Chi Wai recommended establishing a financial inter-connectivity regulatory sandbox in Hengqin. This pilot program would allow selected banks to conduct cross-border bond repurchases and wealth management clearing under a "Negative List + Macro-prudential" model, providing real-world data to guide future policy expansion while managing systemic risks.

Livelihood and healthcare also took center stage, with a focus on making Hengqin feel like a true extension of Macao. Chan Hong advocated for the expansion of Macao-registered medicine and vaccine usage, suggesting that all Macao-funded medical institutions in Hengqin—not just the Macao New Neighborhood—should be included in the supply chain. 

Delegates also looked toward cultural and youth-centric growth. Choi Ming Wai proposed optimizing the 144-hour visa-free policy to allow international travelers multiple entries between Macao and the mainland, fostering a world-class "one-trip, multi-stop" tourism hub. 

As the 2026 Two Sessions continue, these proposals represent a unified call for a more integrated, efficient, and livable Hengqin. By translating these insights into pragmatic policies, the delegates hope to paint a new portrait of regional cooperation that secures Macao's long-term prosperity within the broader national development strategy.

Reporter | Guo Chuhua

Photo | Hengqin Online

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