Nansha to implement development plan in three start-up areas

A news conference was held by the Guangdong Provincial Government on June 28 to introduce specific measures to implement the overall development plan for Guangzhou's Nansha district issued by the State Council recently.

The plan is made to deepen comprehensive cooperation between Guangdong, Hong Kong, and Macao. Nansha selected Nansha Bay, Qingsheng transportation hub, and Nansha transportation hub as the start-up areas that will put the plan into practice, local officials said at the news conference.

A rendering of Hongkong University of Science and Technology (Guangzhou). [Photo/WeChat account: nanshafabu] 

To achieve the two stage development goals and complete the five key tasks stipulated by the plan, they will focus on work involving scientific and technological support, in-depth integration, internal and external communication, institutional innovation, as well as living and working condition improvement, said Ai Xuefeng, the office director of the Guangdong-Hong Kong-Macao Greater Bay Area.

The transportation network within the Greater Bay Area will also be further optimized. The construction of direct transportation links between Nansha transportation hub and Hong Kong will be accelerated. There will also be more Guangzhou-Shenzhen-Hong Kong High-speed Railway trains stopping at Qingsheng Station in Nansha.

In addition, preferential tax policies will be applied to the three start-up areas in Nansha. The enterprise income tax will be levied at a reduced rate of 15 percent, which makes Nansha the third area in the Greater Bay Area to benefit from the reduced tax rate after Hengqin and Qianhai.

In terms of financial support, the central government will arrange a new local government debt limit of 10 billion yuan ($1.49 billion) per year for Nansha from 2022 to 2024. At the same time, Guangdong province will give preferential support to Nansha in the allocation of relevant financial funds and the amount of new local government bonds that will take into account local financial resources, as well as debt risk and project financing needs.