Framework agreement on Guangdong-Hong Kong-Macao Greater Bay Area (GBA) cooperation: 2019 Work plans highlights with tax insights and financial services perspectives

August 2019

Two important Work Plans aimed at promoting closer cooperation between Guangdong, Hong Kong, and Macao were released in May this year. These are the first updates to the Guangdong-Hong Kong and Guangdong-Macau framework agreements since the release of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area on 18 February of this year, so their recommendations will be particularly relevant in the context of the GBA.

Following the format of the Outline Development Plan, the two documents outline nine major aspects covering more than 70 specific tasks. These reflect the nature of Guangdong-Hong Kong and Guangdong-Macao cooperation. Key areas include jointly developing an international innovation and technology hub, fostering cooperation in modern service industries and education, developing an international business environment, promoting a quality “living circle”, and participating in the Belt and Road Initiative.

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Florence Yip

Asia Pacific Tax Leader Financial Services, Asset & Wealth Management, PwC Hong Kong

Tel: +[852] 2289 1833

Grace Cheung

Partner, PwC Macau

Tel: +[853] 8799 5121

John Chan

Partner, PwC Hong Kong

Tel: +[852] 2289 1805

Collin Xiong

Partner, PwC China

Tel: +[86] (755) 8261 8280

Calvin Zhang

Partner, PwC China

Tel: +[86] (20) 3819 2187

James Tam

Financial Services Partner, PwC Hong Kong

Tel: +[852] 2289 2706

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