Clearance Policies
Hengqin Island adopts the electronic fence system and employs the separate line management in the principle of ¡°Relaxed control at the first line, strict control at the second line, separation of people and goods, and categorized management¡±.
We have streamlined the clearance procedures in Hengqin for Hong Kong and Macao residents and realized 24-hour clearance at Hengqin customs.
Motor vehicles carrying only Macao license plates are allowed to enter and exit Hengqin (with restrictions to drive only on Hengqin island)
Tax Policies
In accordance with the Preferential Catalog of Income Tax for Enterprises in Hengqin New Area, a preferential 15% enterprise income tax rate is specified for eligible enterprises.
Production-related goods entering Hengqin from outside China are reported for records administration and subject to duty-free or customs bond treatment. Production-related goods sold to Hengqin from the mainland are regarded as exports and receive tax rebates.
Goods traded between enterprises of Hengqin are exempt from value-added tax and consumption tax.
Hong Kong and Macao residents working in Hengqin enjoy the same individual income tax policy as Hong Kong and Macao, and tax gaps arising from different policies are fully subsidized.
Talent Management Policies
As a demonstration area of national talent management reform, Hengqin grants its special talents incentives related to visas, settlement, residence, medical service, employment of the spouse, education of children, and housing allowance on the basis of their contribution.
Informatization Policies
Through the launch of the "Hengqin Phone Card", both communication fees and WAP charges have both realized urban integration.
Enterprise Regulatory Policies
Foreign investment management follows the "pre-admittance national treatment + negative list" pattern£»categories outside the negative list are reported for records administration.
In compliance with the "Agreement between the Mainland and Hong Kong on Achieving Basic Liberalization of Trade in Services in Guangdong," we have further removed or relaxed admittance restrictions including qualification, share proportion, and business scope for investors from Hong Kong and Macao.
We have published a memo list of unlawful business practices (industrial and commercial administration).
Financial Policies
We are among the first to allow domestic and foreign currency exchange through cards in chartered agencies as well as issue the Unionpay multi-currency IC card;
The entry requirements regarding total assets for Macao banks to set up a branch or a corporate body in the area have been reduced to 4 billion dollars.
The launching and promotion of intellectual property right, usufruct, right of charge and accounts receivable pledge financing as well as the development of the lease financing are encouraged. Non-cash payment tools, especially e-payment tools, are actively promoted.
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