Qianhai and Shekou Area of Shenzhen, China (Guangdong) Pilot Free Trade Zone. (PHOTO PROVIDED TO CHINA DAILY)
HONG KONG - Qianhai’s preferential policies on tax, loans, and entrepreneurship enable Hong Kong’s small and medium-sized companies to seize abundant business opportunities offered by the Chinese mainland market.
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Representatives of a Hong Kong SME association and Shenzhen’s Qianhai Authority made this case at a panel discussion on Friday.
“In recent years, many local young people hope to contribute to the culture industry, innovative technology and the development of the whole market, but face difficulties in the city’s competitive business environment,” said Andrew Kwok Chi-wah, president of the Hong Kong Small and Medium Enterprises Association.
Eligible companies can enjoy incentives that include a reduced corporate income tax rate at 15 percent and possible offshore renminbi loans, while young people from Hong Kong and Macao can also receive sponsorship for both employment and entrepreneurship
“As a result, some of them search for a more-convenient business environment and entrepreneurship opportunities. Now Hong Kong can seize the chance (offered by the Qianhai New District) to have a deep dive into (the market of) the Guangdong-Hong Kong-Macao Greater Bay Area.”
The guest speakers said that eligible companies can enjoy incentives that include a reduced corporate income tax rate at 15 percent and possible offshore renminbi loans, while young people from Hong Kong and Macao can also receive sponsorship for both employment and entrepreneurship.
Meanwhile, those enterprises can complete the “first step” of operational activities from business registration to tax payment, and social security-related services through a “one-stop” online platform — the Qianhai e-Services Hong Kong-Macao Station — without traveling to the mainland.
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“Both the preferable policies benefiting Hong Kong people and companies and the predominant geographical location make Qianhai the first choice for many enterprises, especially those on the financial sector, to expand into the mainland market.” said Titania Woo, executive director of the Hong Kong Management Association.
