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.
Asia Pacific Tax Leader Financial Services, Asset & Wealth Management, PwC Hong Kong
Tel: + 2289 1833
Partner, PwC Macau
Tel: + 8799 5121