NDRC releases Encouraged Industry Catalogue to spur the development of Hengqin
The ‘Encouraged Industry Catalogue’ in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin was recently released by the National Development and Reform Commission (NDRC).
With a total of 185 items, the catalogue mainly focuses on the scientific and technological research and advanced manufacturing industries, as well as Macau-branded industries including traditional Chinese medicine, cultural tourism, conventions and exhibitions, and commercial and trade industries, modern financial industry.
In addition to specifying the major industries to promote Macau’s economic diversification, it highlights the regulatory alignment with Macau.
For instance, the catalogue covers the design, production, and sale of food products, drinks, condiments and health products approved and registered in Macau and produced in the Cooperation Zone, as well as trade brokerage, agencies, and services between the mainland, Macau SAR, Portuguese-speaking countries and other countries in jointly advancing the Belt and Road Initiative.
It includes insurance services like personal insurance, reinsurance, mutual insurance, self-insurance, and tariff guarantee insurance.
“We can provide Hengqin and Macau residents with better medical services and attract more residents from Macau to work and live in Hengqin through launching various types of insurance, which is also an important financial measure to promote the integrated development of the two places,” said Fu Yongge, deputy director of the Executive Committee of the Guangdong-Macao In-depth Cooperation Zone in Hengqin.
According to the NDRC, the catalogue holds the key to guide investors, help governments manage investment projects, formulate and implement policies for the development of skills, land development and other industries.
In the future, Guangdong province and other related departments of the State Council will actively support the encouraged industries in terms of project layout, funding, and other aspects. MDT/NewsGD
