Lei: Goods from Macau to Hengqin to be tax-free

Lei Wai Nong

Goods from Macau that will be transported to Hengqin will be tax exempt this year, Secretary for Economy and Finance Lei Wai Nong announced yesterday at the Hengqin 2023 Global Investment Promotion Conference

Lei, who is also the executive committee director of the Guangdong-Macao In-depth Cooperation Zone, said that the zone will operate as an autonomous customs zone before the end of the year.

The announcement was made at the event that gathered some 300 representatives – ranging from Consul Generals, business associations and major enterprises, aiming to encourage investors to invest in the zone.

Established a year ago, Lei said the zone has achieved “remarkably good results,” recalling that the gross domestic product (GDP) of the zone has reached RMB22.39 billion last year, a year-on-year increase of 2.5%, while general fiscal revenue increased 2.2% to RMB20.03.

For the first quarter of this year, the zone has recorded a 3.8% increase in its GDP to RMB10.91 billion.

According to the official, Hengin’s progress in developing new industries such as traditional Chinese medicine, technology, finance and healthcare have helped boost Macau’s economic diversification.

This is the zone’s first global promotion conference held at Hyatt Regency Hengqin, which also includes remarks of key enterprises in the cooperation zone.

In the afternoon, a visit to the Exhibition Hall of Guangdong-Macao In-depth Cooperation Zone was made, followed by a tour at the Zhuhai Hengqin Bringbuys Network Technology Co Ltd, a foreign-funded enterprise that was launched in Macau and grew in Hengqin. The delegates also toured the Traditional Chinese Medicine Science and Technology Industrial Park, where 230 enterprises have been registered, including 60 enterprises from Macau.

Lynzy Valles, Hengqin