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China's Nansha Zone To Boost Hong Kong, Macau Ties

by Mary Swire, Tax-News.com, Hong Kong

12 October 2012


China has established another state-level development area in the Nansha district of Guangzhou, capital of South China's Guangdong Province, in the expectation that it will further enhance the region’s cooperation with Hong Kong and Macau.

In the centre of the Pearl River Delta region, the new Nansha zone will be developed into a comprehensive service-oriented economic hub focusing, for example, on financial services and logistics.

The new economic area is seen an important part of the Chinese government’s plan to liberalize and develop collaboration in services within Guangdong Province, Hong Kong and Macau during a first phase by 2015, and includes within its ambit the other zones at Qianhai in Shenzhen and Zhuhai's Hengqin island.

The regulations are in the process of being drawn up for Nansha, but the new area should be provided with preferential measures in finance, customs procedures for its deep-water container port, and taxation.

TAGS: tax | business | marine | tax incentives | financial services | China | Macau | offshore | Hong Kong | services

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