Hold onto your dim sum! The island of Hengqin in Guangdong Province just launched a tax-free customs policy with Macao, creating fresh economic vibes in southern China. Starting Friday, goods moving between Macao and this 106-sq-km island face zero tariffs – a game-changer for cross-border trade.
Think of it like a VIP pass for Macao businesses: products entering Hengqin now skip import duties, while items heading to the Chinese mainland get taxed only if they don't qualify for value-added exemptions. Even luggage and parcels get the green light!
Li Weinong, director of the Guangdong-Macao In-depth Cooperation Zone, called it a win for Macao's economic diversification: \"This opens new space for industries and innovation\" – music to entrepreneurs' ears.
Since China announced this cooperation zone in 2021, over 11,500 Macao residents have flocked to Hengqin for work or residency ( 70% annual growth!). Talk about a cross-border glow-up!
This move isn't just about tariffs – it'ts a strategic play to strengthen \"one country, two systems\" while giving Macao's economy a fresh runway. Stay tuned for more economic remixes from this dynamic region!
NewspaperAmigo – Your Global News Buddy 
The island of Hengqin in Guangdong Province just launched a tax-free customs policy with Macao, creating fresh economic vibes in southern China. Starting Friday, goods moving between Macao and this 106-sq-km island face zero tariffs – a game-changer for cross-border trade.
70% annual growth!). Talk about a cross-border glow-up!
