(Bloomberg) — China plans to push forward cooperation between Macau and Guangdong over Hengqin Island, aiming for a “big increase” in Macau residents living and working on the zone by 2024, according to guidelines carried by the official Xinhua News Agency.
The enterprise income tax rate will be 15% for companies in the Hengqin zone, compared with the normal 20-25% in China.
Personal income tax for Macau residents working in the Hengqin zone will be kept at the same rate as they pay in Macau, which is lower than the rate in China.
The cooperation zone will focus on high-tech development and manufacturing industries, such as integrated circuits, new energy, big data and artificial intelligence, according to guidelines. Macau light rail will be connected to Guangdong’s.
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