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China Deepens Cooperation between Guangdong and Hong Kong

Time:   09.11.2020
China Deepens Cooperation between Guangdong and Hong Kong

The governments of Hong Kong Special Administration Region and Guangdong Province of the PRC signed the 2020 Work Plan of the Framework Agreement on Hong Kong/Guangdong Cooperation (hereinafter referred to as “2020 Work Plan”) on 30 October 2020.

Focusing on the implementation of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area and further deepening the cooperation between Guangdong and Hong Kong, the 2020 Work Plan covers eight major areas, including:

  1. Cross-border infrastructure development and customs clearance facilitation;
  2. Joint establishment of an international science and technology innovation hub;
  3. Promoting cooperation in modern service industries, including cooperation in the financial services sector and professional services, as well as cultural and tourism cooperation;
  4. Promoting cooperation in education, talents and youth;
  5. Developing an internationalized business environment;
  6. Joint establishment of a quality living circle;
  7. Joint participation in the Belt and Road Initiative; and
  8. Promoting the development of key cooperation platforms.

The specific measures involved mainly include:

  1. Explore improvements of the policies on cross-border transport arrangements for the Hong Kong-Zhuhai-Macao Bridge and relevant immigration policies;
  2. Effectively implement the policy on the cross-border usage of scientific research funds, and further facilitate the allocation of funds across the border;
  3. Continue to deepen the implementation of measures aimed at relaxing the entry threshold for Hong Kong service sector in terms of business scope, equity shareholding restrictions, busines area, qualification requirements, etc.;
  4. Explore expanding the pilot scheme for Hong Kong residents to open types II or III Mainland personal bank accounts remotely by attestation through a wider bank coverage, optimization of the account opening process, and the promotion of remote account opening arrangement;
  5. Refine the compulsory education enrolment and examination policies for Hong Kong residents' accompanying children, and to ensure that the children of Hong Kong residents can enjoy the basic education public services in accordance with the regulations of their place of residence;
  6. Improve and implement policies and measures to facilitate the purchase of houses by Hong Kong residents in Guangdong;
  7. Assist Hong Kong residents in Guangdong who are not under employment but can meet the relevant conditions to participate in the basic pension insurance for urban and rural residents in the places where their residence permits are issued, and be eligible for the corresponding treatment and financial subsidies.

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