China to promote Nansha opening-up

The State Council issued an overall plan to promote comprehensive cooperation among Guangdong, Hong Kong and Macao by further deepening opening-up in Nansha district of South China's Guangdong province, according to a circular released on June 14.

The plan will be implemented in the whole area of Nansha district, covering a total area of about 803 square kilometers, the circular said, with Nanshawan, Qingsheng hub and Nansha hub in the southern areas of China (Guangdong) Pilot Free Trade Zone serving as launching areas in the first phase.

By 2025, Guangdong-Hong Kong-Macao joint scientific and technological innovation systems and mechanisms in Nansha will be further improved, industrial cooperation will be deepened and regional innovation and industrial transformation systems will be preliminarily established.

High-quality public resources on education and medical care will be pooled at a faster pace, enabling Nansha to attract youth from Hong Kong and Macao to live and work, according to the circular.

By 2035, the regional innovation and industrial transformation system will become more mature, and the capability to transfer and transform international scientific and technological achievements will be significantly enhanced. World-leading public services will be achieved and the world-class business environment will be further improved so as to play a leading role in the Greater Bay Area's participation in international cooperation and competition.

To build industrial cooperation bases for sci-tech innovation, the circular stressed encouraging research institutions in Guangdong, Hong Kong and Macao to organize and implement scientific and technological innovation projects and make breakthroughs in key and core technologies.

Eligible private equity funds from Hong Kong will be supported to finance Hong Kong-invested innovative technology enterprises in Nansha.

Major platforms on sci-tech innovation should be created with more world-class research universities and institutions in place.

Efforts will be made to foster high-tech industries including levying enterprise income tax at a reduced rate of 15 percent for enterprises in sectors encouraged, the circular said.

The circular also noted measures to pool international high-end talents, and special support measures for talents from Hong Kong and Macao will be offered in talent introduction, equity incentive, technology investment, professional title evaluation, professional qualification recognition, children's education and commercial medical insurance.

Cooperation platforms on startups and employment for youth should be established, and a slew of measures should be made to encourage existing business incubation bases to provide and expand room for entrepreneurship and employment specifically for young people from Hong Kong and Macao. Businesses started by eligible residents from Hong Kong and Macao in Nansha can enjoy equal support policies such as start-up guaranteed loans and discounted interest as local businesses.

The circular also supports the government of the Hong Kong Special Administrative Region to expand more internship positions and provide subsidies to Hong Kong university students working in Nansha. Headquarters for youth exchange activities will be planned, as part of efforts to strengthen people-to-people exchanges.

To build Nansha into a door for high-level opening-up, a comprehensive service base for Chinese enterprises going global should be built to help the industry and market in Guangzhou, especially Nansha, deepen foreign economic and trade cooperation with Hong Kong and Macao, while building it as international shipping and logistics hub and strengthening international economic cooperation.

A slew of measures should be made to establish a rule connect mechanism by creating a world-class business environment, promoting connectivity in financial markets in an orderly manner and improving the coordination between public services and social management.

The circular also stressed making Nansha a model for urban high-quality development, and more work will be done to step up cooperation in urban planning and development, promote smart cities, advance educational cooperation among Guangdong, Hong Kong and Macao, facilitate medical treatment and elderly care for Hong Kong and Macao residents, and intensify joint efforts in ecological protection and treatment.