Hengqin started Friday to allow most goods to be moved there tax-free from Macau.
Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macau, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption.
Similar tax exemptions also apply to luggage and parcels entering Hengqin from Macau.
Lei Wai Nong, director of the zone’s executive committee, said the customs rearrangement also aims to make it easier for Macau residents to live and work in the zone.
Macau residents are now allowed to bring a reasonable amount of cooked meat, fresh vegetables and fruits into Hengqin, which is a pioneering reform in China, according to Li.
“The new policy will effectively facilitate the flow of goods, personnel, capital and information between Hengqin and Macau, and create valuable new space for Macau’s new industries and business forms,” said the official.
By the end of 2023, there were 11,500 Macau residents working or living in Hengqin, an annual increase of over 70%, according to the zone’s statistics bureau.
Xuan Jianguo, secretary-general of the Hengqin Institute of Innovation and Development, said the customs reform will greatly boost the integration of Hengqin and Macau.
Hengqin has completed a key step toward fulfilling its two main goals, which are promoting the diversification of Macau’s economy and creating a new home for Macau residents to live and work,” Xuan said. MDT/Xinhua
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