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The government of China’s Macao Special Administrative Region (SAR) plans t
o set up an investment and development fund to support the development of the Gua上海千花坊
ngdong-Hong Kong-Macao Greater Bay Area, the SAR’s chief executive Chui Sai On has said.
上海千花坊女神会所During a question-and-answer session at the SAR Legislative Assembly Th
ursday, Chui told Macao’s legislative members that there were about 49 projects relating to M
acao’s participation in the Greater Bay Area set out in the outline development plan for the Greater Bay Area.
He said Macao’s basic fiscal reserves and surplus reserves amounted to 569.54 billion patacas (about 70.49 billion U.S. doll上海千花坊女神会所
ars), while there was 163.25 billion patacas (about 20.20 billion U.S. dollars) in foreign exchange reserves at the be
inning of 2019, and the government had the financial capability to establish such a fund.
上海千花坊The fund would be set up in the second half of 2019, and would be manag
ed by a government-owned entity operating independently of the current structure of pub
lic administration. It would be run in accordance with market-led and commercial principles, he added.上海千花坊女神会所
The chief executive said it was not only a way for improving returns on publicly-held capital and for the benefit of public fu
上海千花坊nds, but also for realizing policy goals mentioned in the Greater Bay Area outline development plan.
The Greater Bay Area consists of the Hong Kong SAR, the Macao SAR, as well as nine cities in Guangdong上海千花坊
Province — Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing.
上海千花坊女神会所China’s Ministry of Finance (MOF) Saturday announced a favorable tax pol
icy for overseas talent working in the Guangdong-Hong Kong-Macao Greater Bay Area.
Based on the individual income tax differentials between the Chinese mainland and Hong Kong, overseas high-end t上海千花坊
alent and professionals in short supply that work in the Greater Bay Area will get sub
sidies from Guangdong Province and Shenzhen Municipality to offset the differentials, according to the MOF.上海千花坊女神会所
The subsidies will be exempt from paying individual income tax.