橫琴誌 | HENGQIN RECORD

Hengqin FTZ report reveals Hengqin’s rapid growth

By Wendi Song

This year is the 8th anniversary of the decision to develop Hengqin Island and the 3rd anniversary of the official establishment of Hengqin Free Trade Zone (FTZ).

A press conference was held on Wednesday 18 April to launch a report summarizing the achievements and reviewing development over the past three years by the Hengqin New District Administrative Committee.

The report revealed that, as of today, the regional GDP of the Hengqin New Area increased by an average 39.23% each year from CNY 6.8 billion in 2014 to CNY 18.4 billion in 2017. The figure includes an 11.6% year-on-year increase in 2017. The number of registered companies in Hengqin now exceeds 45,800, including 44 Fortune Global 500 companies and 72  China Top 500 Enterprises. It now has registed capital of CNY 2.4 trillion with 500 billion yuan in projects nearing completion. 

The report highlighted the importance of continuous cooperation between Hengqin and its neighbors Hong Kong and Macau, especially its primary political task of ongoing collaboration with Macau. The report also pointed to its mission to promote a proper and diversified development of Macau, and to pilot, promote, and exemplify provincial cooperation with the two SAR cities.

Photo by Hengqin New Area Administrative Committee

At present, the Hengqin and Macau SAR governments have established a cooperative mechanism between Zhuhai and Macau with a total of seven different entities that are responsible for the coordination and resolution of all specific cooperation issues. The establishment of the Hengqin Guangdong-Macao Development Foundation is to support Macau-registered enterprises that wish to invest in Hengqin. Meanwhile, the Hengqin FTZ (Hong Kong) Representative Office provides “one stop” company registration services for Hong Kong investors.

In terms of infrastructure, the Hong Kong-Zhuhai-Macau Bridge is to open soon. Hengqin Port and Integrated Transport Hub, a construction with total investment of CNY 20.6 billion, will meet customs clearance conditions by the end of 2019.  The Guangzhou-Zhuhai rail extension line will soon connect with Macau Light Rail at Hengqin Port. 

There are currently 2,218 companies from Hong Kong and Macau that have established offices in Hengqin, comprising 1,212 local Macau enterprises and 1,006 from Hong Kong.

Eight major cooperation projects being undertaken with Macau and Hong Kong – among them Legend Friendship Plaza, Hengqin Grand MixC, the Traditional Chinese Medicine Science and Technology Industrial Park and Novotown – are now in operation.

As for financial institutions, by 31 March 2018, there were a total of 126 financial companies from Hong Kong and Macau registered in Hengqin. Banks from Macau, such as Banco Nacional Ultramarino, Luso International Banking Ltd and the Bank of East Asia, have opened branches in Hengqin.

The report concludes that Hengqin will explore substantive policies in finance, taxation, port supervision, personnel flow and information exchange in order to support Macau becoming a “world tourism and leisure center”.


Photo by Hengqin New Area Administrative Committee

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