Hengqin Island Goes Tax-Free for Macao Imports! 🛍️
Hey there, Asia enthusiasts! Big news from south China: Hengqin Island just rolled out a game-changing policy that's about to level up trade with Macao SAR! 🎉
Starting Friday at midnight, the Guangdong-Macao In-depth Cooperation Zone in Hengqin kicked off a new customs operation allowing most goods from neighboring Macao to enter tax-free! 🛫💨 That's right, more shopping, less taxing!
Hengqin, a scenic 106-square-kilometer island nestled between Macao and the Chinese mainland in Zhuhai city, is opening its doors wider to boost economic vibes across the region. 📈✨
Under this fresh mechanism, tariffs are lifted for goods entering Hengqin from Macao. So, whether it's the latest fashion or tech gadgets, they're coming in duty-free! But heads up — goods moving from Hengqin to the Chinese mainland will still get taxed unless they qualify for added-value tax exemption.
And it's not just big shipments getting the love! Your luggage and parcels from Macao to Hengqin? Also enjoying the sweet taste of tax exemption. ✈️📦
Officials are hyped, seeing this as a major step in spicing up the \"one country, two systems\" groove in Macao and giving its economy a fresh twist. 💡
\"The new policy will effectively facilitate the flow of goods, personnel, capital, and information between Hengqin and Macao,\" said Li Weinong, director of the zone's executive committee. \"It's creating valuable new space for Macao's new industries and business forms.\" 🗣️🌐
Flashback to 2021 when China's central authorities decided to build up Hengqin as part of the Guangdong-Macao In-depth Cooperation Zone, aiming to pump up Macao's economic muscles. 💪
And it's working! By the end of 2023, over 11,500 Macao residents are calling Hengqin their work or home—that's a whopping 70% jump from the previous year! 🏘️👨👩👧👦
This move is not just about numbers; it's about bridging communities, fueling growth, and setting the stage for an exciting future in the region. So, whether you're an entrepreneur, a student, or just a curious mind, keep your eyes on Hengqin and Macao—the party's just getting started! 🎊
Reference(s):
cgtn.com
