Plans to establish Hengqin New District in Zhuhai

The State Council recently approved the overall development plan for Hengqin New District in Zhuhai. An overview of the plan and creative policies were introduced in a press conference held Monday in Zhuhai by Mayor Zhong Shijian.

"We are aiming to build Hengqin Island into an open, dynamic, intelligent, and environmentally friendly island within 10 to 15 years," said Zhong, adding that the per capita GDP of Hengqin Island is expected to amount to 200,000 yuan and the population would reach 280,000 by 2020.

Hengqin Island is the third new district after Shanghai Pudong New District and Tianjin Binhai New District. But its positioning is different from the previous two in industrial development and management.

According to the plan, the State Council expects Hengqin Island to adjust its industrial development model and structure, and to develop modern industry that is dominated by the high-end service sector. By 2020, the revenue from service industry would account for more than 75 percent of the total output value in Hengqin.

In addition, two different tax systems will be implemented in the ports between Hengqin and Macao and the ports between Hengqin and the mainland.

Hengqin will be administered by a hierarchical legislative power like other special economic zones.

It is reported that Zhuhai has set up a panel to study policies and regulations, channel systems, finance, tax, land administration and other detailed development plans.

"More innovative policies will be launched," said Deng You, deputy secretary of administration committee in Hengqin New District.

Invitations for large-scale investments will start at the end of this month; currently, enterprises from Macao, Hong Kong and the mainland have shown interest in investing.

Hengqin Island, has an area of 106.46 square meters, and borders Macao and Hong Kong.

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