Guangdong, Hong Kong And Macau, The Eight New Deal In Tai Wan Area, China Unicom Is Expected To Generate Agglomeration Effect.

With the completion of large-scale infrastructure projects in the Hongkong section of the Hong Kong Zhuhai Macao Bridge and the Guangzhou Shenzhen Hong Kong high speed railway, the facilities interconnection in the Tai Wan area has made gratifying achievements. (Xinhua News Agency)

With the long-awaited outline of the development plan for the Guangdong Bay Macao Bay Area (hereinafter referred to as the "outline for planning"), the construction of the Da Wan area has officially set sail.

According to the Hongkong government website, in March 1st, in the Great Hall of the people in Beijing, Lin Zhengyuee, the chief executive of the Hongkong Special Administrative Region, attended the second plenary meeting of the leading group of leading group of Guangdong, Hongkong and Macau (LED group) chaired by Vice Premier Han Zheng of the State Council, and welcomed the eight policy measures adopted by the central government to promote the construction of the bay area of Guangdong, Hong Kong and Macao. She pointed out that these measures will facilitate the development, employment and residence of Hongkong residents in the mainland of Tai Wan District, and enhance the convenient circulation of people and logistics in Tai Wan district.

The measures cover the "183 days" calculation method for personal income tax payment in the mainland (that is, less than 24 hours' stay in China, less than 24 hours on the day of residence in China). The local government provides personal income tax difference allowance (i.e. "Hong Kong port tax") for high-end talents and scarce talents overseas (including Hongkong), supports open recruitment of Hong Kong and Macao residents in large bay area institutions, encourages Hong Kong and Macao youth to go to the mainland's nine cities in the mainland to innovate and start businesses, supports Hong Kong and Macao universities and research institutions to participate in the Guangdong science and technology plan, carries out pilot projects to facilitate the entry and exit of Hong Kong and Macao, and facilitate the entry and exit of Hong Kong and Macao vehicles into the mainland ports, and expands the scope of implementation of the customs cross border rapid transit docking project.

Lin Zhengyuee said: "the policy measures launched this time cover a wide range and are also the areas that the SAR government has been striving for. We will follow up with relevant ministries and the Guangdong provincial government and implement relevant policies. In the future, we will continue to strengthen contacts and communication with relevant ministries and commissions in the mainland and various sectors in Hongkong. We will actively participate in the construction of the Bay Area in Guangdong, Hong Kong and Macao, and provide more convenience measures for Hongkong residents living and working in Tai Wan district.

It is reported that the overseas income tax subsidies have been implemented in Qianhai and Hengqin, and the local government will subsidize the income tax differentials. The relevant policies will be extended to 9 cities in the mainland, but only for designated talents.

It is reported that in 2017, Guangdong province has carried out tax cooperation to reduce taxes and taxes of nearly 3 billion 500 million yuan and 15 million yuan for Hongkong and Macao enterprises that meet the conditions of the agreement. It has effectively optimized the business environment of the big bay area of Guangdong, Hong Kong and Macao, and has released a new momentum of economic development.

Infrastructure interconnection has been significantly strengthened

The planning outline points out: "play the platform and exemplary role of Hongkong and Macao, support the 9 cities in the Pearl River Delta to speed up the establishment of rules and regulations that are compatible with international standard investment and trade rules, give full play to the decisive role of the market in the allocation of resources, reduce administrative intervention, strengthen the comprehensive supervision of the market, and form a stable, fair, transparent and predictable first-class business environment."

Ceng Huixian, partner of PWC taxation and business consulting in China, said: "if a group of modern ports, airports, railways, highways and pivot is the physical infrastructure that can be seen in the development and construction of the big bay area, then the global competitive business environment is absolutely the invisible foundation of creating the world-class technological innovation center of the world class city group and global influence."

According to the world business environment report released in 2019 by the world bank, Hongkong's business environment ranks fourth in the world, surpassing most developed economies.

"A good business environment requires support from all sectors of the population. Quality living environment, including health care, education and low taxation, is an important requirement for attracting talents. The mainland cities in Tai Wan district should strengthen communication and exchanges with Hongkong in improving their business environment, and strive to improve the business environment of the urban agglomeration of Guangdong, Hong Kong and Macau in the short term, and maintain and enhance the attractiveness of big bay to enterprises, entrepreneurs and talents. She said in an interview with the twenty-first Century economic report.

With the completion of large-scale infrastructure projects in the Hongkong section of the Hong Kong Zhuhai Macao Bridge and the Guangzhou Shenzhen Hong Kong high speed railway, the facilities interconnection in the Tai Wan area has made gratifying achievements. Peng Haoxian, PWC audit partner of China, believes that the construction of multi-dimensional transport network in Tai Wan is the core of the interoperability of infrastructure. "It can promote the flow of people and logistics, thereby promoting efficient flow of capital and information flow. The planning framework provides an ideal blueprint for the interconnection of different urban transport infrastructures in the bay area, and also provides macro and strategic guidance for the transport infrastructure projects in the bay area of Guangdong, Hong Kong and Macao.

The construction and design of infrastructure in Tai Wan area need to be forward-looking and groundbreaking. Through Unicom Network, the flow of economic elements along the line will be greatly promoted, and the scale agglomeration effect will be formed. The horizontal connection between the east coast and the West Bank of the Greater Bay area needs to be further strengthened, and the transport capacity of the three major skeletons of Guangzhou Shenzhen Hong Kong, Hong Kong Zhuhai Macao and Guangzhou Zhuhai Macao will be further strengthened. He said in an interview.

The fast and fast infrastructure will be the foundation of the one hour quality life circle in Tai Wan. For this reason, Peng Haoxian suggested that we should enhance multimodal transport in the Tai Wan area, "do well the connection and connection of different modes of transportation, and integrate the management of intermodal transportation, such as one way tickets, one card and one single transport, etc., and constantly improve the level of convenience between Guangdong, Hong Kong and Macao through the means of electronic and information technology," he said.

In fact, in recent years, the transport network between major cities in Tai Wan has improved significantly, and has also brought huge business opportunities to the relevant enterprises. At present, the new founding group of the Zheng Yutong family in Hongkong has 15 roads in the mainland, 7 of which are located in the big bay area, namely Guangzhou North Ring Expressway, Beijing Zhuhai Expressway (Guangzhou Zhuhai Section), Beijing Zhuhai Expressway (Guangzhou Zhubei section), Guang Zhao expressway, Shenzhen Huizhou Expressway (Huizhou section), Guangzhou Dongxin Expressway and Guangzhou Nansha port expressway. As a flagship platform for infrastructural and service development, new creation group, as the new world group, covers four major areas: Road, environment, logistics and aviation.

He Zhiheng, executive director of the new founding group, told our reporter that as of the end of December last year, the daily average traffic volume of the 7 toll roads in Tai Wan district increased by 28% at the highest level. "More roads or bridge projects will be completed in the future in the Greater Bay area, and the traffic demand will increase as the traffic network becomes more perfect," he told the newspaper. 6

Take the Guangzhou North Ring Expressway as an example, the two-way six lane highway with a total length of 22 kilometers is connected with the Guangfo Expressway in the West and the Guangshen Expressway in the East. The traffic flow is very busy. The daily traffic flow is as high as 360 thousand times, which is 3 times the Hongkong Hung Hom tunnel.

He Zhiheng said frankly: "in the future, we hope to continue to look for some mature highway projects. (in these projects), we should be able to see the trend of marked increase in vehicle flow and meet the high single digit and low double-digit return on investment targets we require. At present, there are more and more private enterprises selling road projects due to tight financing, which provide us with many investment opportunities.

Promote insurance interconnection in Tai Wan District

In recent years, the insurance market in Hongkong has developed vigorously, and the insurance coverage has been increasing. Mainland tourists have become the most important driving force for the growth of the insurance market in Hongkong.

According to the twenty-first Century economic report, the Hongkong Insurance Regulatory Commission is now actively preparing to visit the relevant regulatory authorities in Beijing to discuss how to implement the related matters concerning the establishment of life insurance after-sales service center in Tai Wan area as soon as possible. -

Since the establishment of a service center does not involve market docking or sales behavior, it will change the location of the existing service transfer to a small extent, and the two sides are mutually beneficial. It is reported that the service center will mainly focus on customer service at the first stage, such as dealing with after sales insurance claims and related complaints, and then expanding to the collection of premiums, payment of reparations and other related services.

"Allowing Hongkong insurance companies to set up life insurance after-sales service centers in Tai Wan District to provide claims and other after-sales services will undoubtedly bring huge opportunities for Hongkong's insurance industry, expanding Hongkong's insurance industry from a market of 7 million people to a large 70 million population in Tai Wan district. Hongkong's local insurance industry is becoming more and more saturated. "Tai Wan District will provide a new opportunity." Ma Shaoxiang, chief executive officer of new creation group, told reporters on twenty-first Century economic report. "The planning of the Tai Wan area is definitely a great benefit to the insurance industry in the direction, and we are looking forward to how the specific policies will come into being."

The new group has already made moves, and announced at the end of last year that it would buy Fortis Insurance with HK $21 billion 500 million for the first time to enter the insurance industry. Fortis is mainly engaged in life insurance business. Currently, it has about 2500 insurance agents. In the future, we hope to have synergy with the newly established Hong Kong Yi Kong hospital and 9 medical centers in the mainland, as well as the different healthcare sectors such as health care and health preservation under the new world group.

According to the report issued by Swiss Reinsurance, Hongkong's insurance density in 2017 was 8320 US dollars, ranking first in Asia and second in the world. The penetration rate of insurance was 18%, Asia ranked second and the world ranked third. Hongkong is a well deserved insurance hub in the Asia Pacific region.

"Many insurance products in Hongkong are relatively advanced. We can consider some safe and simple insurance products for trial, and provide some platforms or solutions." Zhou Shiqiang, partner of audit director of PWC southern China and Hongkong, pointed out.

In fact, the Pacific Insurance Group has taken the initiative to cooperate with the insurance regulatory authorities and the Hong Kong Zhuhai Macau bridge management department to provide perfect risk support services for cross border vehicles, and has actively studied the convenient measures for cross border vehicle insurance, such as three guarantees for land transportation, and so on. The "Cross Harbour vehicle insurance scheme for Hong Kong Zhuhai Macao Bridge" has been launched innovatively, achieving a "small step" breakthrough in cross border underwriting and three ground compensation.

(Editor: Xin Ling, if you have any questions or suggestions, please contact: xinlingfly2007@163.com)