KUALA LUMPUR, Aug 26 -- In 40 years, China’s Zhuhai has become one of the cities with the widest development space, best development environment and policies in the Pearl River Delta.
According to the Information Office of Zhuhai Municipality in a statement, China first started implementing Special Economic Zones (SEZ) in 1980 in the southeastern coastal area, with Zhuhai being one of them.
As a pilot area in reform and opening-up, beyond tax incentives to foreign investors, SEZs enjoy simplified customs procedures and fewer regulatory constraints. The efficient regulatory mechanisms and convenient customs clearance made Zhuhai a popular destination for multinational companies.
In the first quarter of this year, Zhuhai signed over 30 new key projects ranging from equipment manufacturing, new materials, information technology to pharmaceuticals, the value of which exceeded US$5.8 billion. (US$1 = RM4.168)
To retain capital in the long run, the city must continuously maintain its comparative edge by refining and expanding the benefits it offers investors.
To this end, Zhuhai has identified its next strategic advantage - strengthening cooperation with Macau and Shenzhen to build a hub for the efficient allocation of resources such as human capital, technology and funding.
As a key area for cooperation between Macau and Zhuhai, the Hengqin Free Trade Zone of Zhuhai, has accumulated more than 440 achievements in system innovation in 10 years’ development. The Zone's GDP now grows at an average annual rate of 64 per cent. -- BERNAMA
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