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Tax breaks promised on goods shipped from Macao to Hengqin

The pledge was made by Macao’s finance secretary, Lei Wai Nong, during yesterday’s Hengqin 2023 Global Investment Promotion Conference.

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The pledge was made by Macao’s finance secretary, Lei Wai Nong, during yesterday’s Hengqin 2023 Global Investment Promotion Conference.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 21 Dec 2023, 11:33 pm

Lei Wai Nong, the finance secretary, says goods transported from Macao to Hengqin will be exempt from taxes for the rest of the year. 

He made the pledge yesterday at the Hengqin 2023 Global Investment Promotion Conference, according to multiple media reports.

Addressing some 300 delegates, Lei said Hengqin – earmarked as an “in-depth” economic cooperation zone between Macao and Guangdong – had achieved “remarkably good results”, recording a 3.8 percent increase in its GDP to 10.91 billion renminbi for the first quarter of the year. 

[See more: New Hengqin regulations take effect on 1 March]

He added that Hengin’s progress in developing new industries such as technology, finance and healthcare had helped Macao to diversify economically.

After yesterday’s event, held at the Hyatt Regency Hengqin, delegates toured the Traditional Chinese Medicine Science and Technology Industrial Park, home to 60 enterprises from Macau.

Last month, officials in Hengqin announced special income tax rates for qualified mainland Chinese and international professionals, saying they wanted to attract talent in the areas of scientific research and development, technology, high-end manufacturing, finance and more.

 

UPDATED: 21 Dec 2023, 11:33 pm

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