It’s all good stuff! The development plan for the Guangdong-Hong Kong-Macao Greater Bay Area is released, with a sneak peek at the key points

Beijing News (Reporter Gu Zhijuan) On February 18, according to Xinhua News Agency, the Central Committee of the Communist Party of China and the State Council issued the "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area" (hereinafter referred to as the "Plan" ) to provide guidance for the cooperative development of the Hong Kong Special Administrative Region, the Macao Special Administrative Region and the nine Pearl River Delta cities (Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing). The short-term planning is to 2022, and the long-term outlook is to 2035.

Point 1: Use Hong Kong, Macao, Guangzhou and Shenzhen as the core engine to drive the development of surrounding regions

Use the four central cities of Hong Kong, Macao, Guangzhou and Shenzhen as the core engine for regional development. Hong Kong consolidates and enhances its status as an international financial, shipping, trade center and international aviation hub; Macao builds a world tourism and leisure center and a business cooperation service platform between China and Portuguese-speaking countries; Guangzhou fully plays its leading role as a national central city and comprehensive gateway city; Shenzhen plays a leading role It plays a leading role as a special economic zone, a national economic center city and a national innovative city.

Build important node cities. Support Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, Zhaoqing and other cities to form important node cities with distinctive characteristics, complementary functions and competitiveness.

Take full advantage of the large number and size of characteristic towns in the nine cities of the Pearl River Delta to cultivate a number of charming towns with unique advantages.

Build an important economic support belt with the Guangdong-Hong Kong-Macao Greater Bay Area as the leader and the Pearl River-Xijiang Economic Belt as the hinterland, driving the development of central and southwestern regions and radiating to Southeast Asia and South Asia.

Point 2: Connectivity of the transportation system

Build a world-class airport cluster. Support the construction of the third runway of Hong Kong Airport and the reconstruction and expansion of Macau Airport, implement the reconstruction and expansion of Guangzhou, Shenzhen and other airports, carry out preliminary research work on Guangzhou's new airport, and study the construction of a number of regional airports and general airports.

Smooth external comprehensive transportation channels. Promote the construction of railway projects from Ganzhou to Shenzhen, Guangzhou to Shanwei, Shenzhen to Maoming, and Cenxi to Luoding. Promote the capacity expansion and reconstruction of busy sections of national expressways such as the Shenhai Expressway (G15) and the Beijing-Hong Kong-Macao Expressway (G4) in an orderly manner.

Construct a rapid transportation network in the Greater Bay Area. Build an intercity rapid transportation network based on high-speed railways, intercity railways and high-grade highways, and strive to achieve one-hour access between major cities in the Greater Bay Area. Innovate customs clearance models to better leverage the role of the Guangzhou-Shenzhen-Hong Kong high-speed railway and the Hong Kong-Zhuhai-Macao Bridge.

Improve the level of passenger and cargo transportation services. Actively promote the introduction of trunk railways, intercity railways, urban (suburban) railways, etc. into the airport. Promote the operation of intercity passenger transport in the Greater Bay Area by public transportation, and promote "one-ticket" connecting journeys and "one-card" services.

Point 3: Optimize industrial layout

Optimize the layout of manufacturing industry. We will build an advanced equipment manufacturing industrial belt on the west bank of the Pearl River with Zhuhai and Foshan as the leaders, and build a world-class advanced manufacturing industry cluster such as electronic information with global influence and competitiveness on the east bank of the Pearl River with Shenzhen and Dongguan as the core.

Cultivation and growth of emerging industries. Promote the development and expansion of new generation information technology, biotechnology, high-end equipment manufacturing, new materials, etc. into new pillar industries, including new displays, new generation communication technology, 5G and mobile Internet, protein and other biomedicine, high-end medical diagnosis and treatment equipment, and genetic testing , modern Chinese medicine, intelligent robots, 3D printing, Beidou satellite applications and other key areas to cultivate a number of major industrial projects.

Point 4: Connect the financial services industry

Build an international financial hub. Create an investment and financing platform in Hong Kong to serve the construction of the “One Belt, One Road” initiative. Support Guangzhou in improving its modern financial service system, building a regional private equity trading market, and building a regional trading center for property rights and bulk commodities. Support Shenzhen in developing a capital market with the Shenzhen Stock Exchange as the core in accordance with regulations. Support Macao in building a financial services platform between China and Portuguese-speaking countries, establishing an export credit insurance system, and building it into a RMB clearing center for Portuguese-speaking countries. Study and explore the construction of a Macao-Zhuhai cross-border financial cooperation demonstration zone.

Vigorously develop characteristic financial industries. Support Hong Kong in building a green financial center in the Greater Bay Area, support Guangzhou in building a green financial reform and innovation pilot zone, and support Macao in developing leasing and other special financial businesses.

Gradually expand the scale and scope of cross-border use of RMB in the Greater Bay Area. For example, companies in the Greater Bay Area can issue cross-border RMB bonds in accordance with regulations.

Expand the space for cross-border investment between Hong Kong and mainland residents and institutions. Promote cross-border transactions of funds, insurance and other financial products in the Greater Bay Area in an orderly manner.

Continuously improve the "Shanghai-Hong Kong Stock Connect", "Shenzhen-Hong Kong Stock Connect" and "Bond Connect". Support qualified banks and insurance institutions from Hong Kong and Macao to set up operating institutions in Qianhai, Shenzhen, Nansha, Guangzhou, and Hengqin, Zhuhai. Establish a coordination and communication mechanism for financial supervision in the Guangdong-Hong Kong-Macao Greater Bay Area, and strengthen cooperation in the supervision of cross-border financial institutions and monitoring and analysis of capital flows.

Support Guangdong, Hong Kong and Macao to promote the development of the marine economy through strengthening financial cooperation, explore the issuance of corporate marine development bonds at home and abroad, and develop special financial industries such as marine insurance, reinsurance and ship finance.

Point 5: Promote cooperation in the tourism industry

Build a diversified tourism product system such as culture and history, leisure vacations, health care, cruises and yachts, enrich Guangdong, Hong Kong and Macao tourist routes, and develop high-speed rail "one journey" Multi-stop" tourism products to build a world-class tourist destination in the Guangdong-Hong Kong-Macao Greater Bay Area.

Optimize the "144-hour transit visa-free" policy in the Pearl River Delta region to facilitate foreigners traveling in the Greater Bay Area.

Promote the construction of international cruise ports in Hong Kong, Guangzhou and Shenzhen in an orderly manner, further increase international liner routes, and explore and study to simplify the entry and exit procedures for cruise ships, yachts and passengers. Gradually simplify and relax the document arrangements for mainland cruise passengers, and explore ways for mainland cruise passengers to travel to Hong Kong in transit to participate in all cruise voyages. Explore the construction of an international yacht tourism free port in suitable areas.

Support the Pearl River Delta cities in building a national all-region tourism demonstration zone. Explore the whole island development method for uninhabited islands with tourism and other service industries as the main function. Build a coastal landscape highway that runs from Chaozhou to Zhanjiang and connects Hong Kong and Macao, and build a number of coastal towns with unique characteristics.

Point 6: Promote investment facilitation and trade liberalization

Implement the CEPA series of agreements between the mainland and Hong Kong and Macao, and promote cooperation between Hong Kong and Macao in finance, education, law and dispute resolution, shipping, and logistics , railway transportation, telecommunications, traditional Chinese medicine, construction and related engineering and other fields to implement special opening measures.

Study to further eliminate or relax the qualification requirements, shareholding ratio, industry access and other restrictions on Hong Kong and Macao investors, and provide one-stop services for Hong Kong and Macao investors and related practitioners in Guangdong.

Accelerate the construction of a single window for international trade, and promote information exchange, mutual recognition of supervision, and mutual assistance in law enforcement among port supervision departments. Expand the scope of mutual recognition of professional qualifications between the mainland and Hong Kong and Macao, expand the scope of "one exam, three certificates" (one exam can obtain national professional qualification certification, Hong Kong and Macao certification, and international certification), and promote the convenient cross-border practice of people from the mainland, Hong Kong and Macao.

Study to provide more convenient visa arrangements for qualified personnel from the nine cities in the Pearl River Delta to go to Hong Kong and Macao to carry out business, scientific research, professional services, etc. Improve policies and measures for the management of motor vehicles licensed in Guangdong, Hong Kong and Guangdong and Macao, and allow motor vehicles licensed in both places to enter and exit through multiple ports.

Point 7: Expand opening up to the outside world

Create an important support area for the “Belt and Road” construction. Sign and implement arrangements to support Hong Kong and Macao in fully participating in and assisting the construction of the “Belt and Road” initiative. Strengthen Hong Kong’s position as a global hub for offshore RMB business and support Macao in cooperating in appropriate ways with the Silk Road Fund, the China-Latin America Industrial Capacity Cooperation Investment Fund, the China-Africa Industrial Capacity Cooperation Fund and the Asian Infrastructure Investment Bank.

Comprehensively participate in international economic cooperation. Promote enterprises in the Greater Bay Area to join forces to go global. Attract investment in advanced manufacturing, modern service industries and strategic emerging industries from developed countries, and attract the headquarters of multinational companies and international organizations to settle in the Greater Bay Area. Strengthen international cooperation among Guangdong, Hong Kong and Macao ports, establish port industrial parks with relevant countries and regions, and build regional port alliances. Support Hong Kong and Macao in signing free trade agreements with foreign countries and participating in relevant international organizations in the name of "Hong Kong, China" and "Macao, China" or in other appropriate forms in accordance with the law.

Work together to develop international markets. Encourage enterprises from Guangdong, Hong Kong and Macao to cooperate in greenfield investments, implement cross-border mergers and acquisitions and build industrial parks, and support Hong Kong and Macao enterprises in connecting with overseas economic and trade cooperation zones. Support mainland enterprises to set up capital operation centers and corporate treasury centers in Hong Kong to carry out financing, financial management and other businesses.

Point 8 Accelerate the construction of major platforms

Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone: Expand the offshore account (OSA) function and learn from the free trade account system of the Shanghai Pilot Free Trade Zone (FTA), and actively explore effective paths for capital account convertibility. Support the Qianhai Joint Trading Center of the Hong Kong Exchange to build a commodity spot trading platform that serves domestic and foreign customers. Strengthen Shenzhen-Hong Kong cooperation in green finance and financial technology. Build a new international trade center, develop offshore trade, and create a delivery place for cargo rights. Build an international high-end shipping service center and develop modern shipping service industries such as shipping finance. Build an offshore innovation and entrepreneurship platform and allow technology companies to register within the zone and operate internationally. Support the development of bonded R&D business in qualified special customs supervision areas.

Support the establishment of a port in Qianhai, Shenzhen, and study to strengthen efficient connectivity with Hong Kong infrastructure.

Guangzhou Nansha Guangdong-Hong Kong-Macao Comprehensive Cooperation Demonstration Zone: Accelerate the construction of the Greater Bay Area’s international shipping, financial and technological innovation functions.

Zhuhai Hengqin Guangdong, Hong Kong and Macao In-depth Cooperation Demonstration Zone: High-level construction of Zhuhai Hengqin International Leisure Tourism Island, allowing Macau tourism practitioners to provide related services in Hengqin. Support the coordinated development of Hengqin, Zhuhai Free Trade Zone and Hongwan Area, and build a Guangdong-Hong Kong-Macao logistics park. Support the development of Guangdong-Macao cooperative traditional Chinese medicine science and technology industrial park. Explore qualified Hong Kong, Macao and foreign medical personnel to practice directly in Hengqin.

Beijing News reporter Gu Zhijuan editor Chen Li proofreader Wu Xingfa