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Speakers:

Guo Lanfeng, member of the Communist Party of China (CPC) Leadership Group of the National Development and Reform Commission (NDRC)

Wang Jianfan, director general of the Budget Department of the Ministry of Finance

Wang Xin, director general of the Research Bureau of the People's Bank of China (PBC)

Zhang Hu, member of the Standing Committee of the CPC Guangdong Provincial Committee and executive vice governor of the People's Government of Guangdong Province

Guo Yonghang, deputy secretary of the CPC Guangzhou Municipal Committee and mayor of the Guangzhou Municipal People's Government

Chairperson:

Xing Huina, deputy director general of the Press Bureau of the State Council Information Office (SCIO) and SCIO spokesperson

Date:

June 24, 2022

Xing Huina:

Friends from the media, good afternoon. Welcome to this press conference held by the SCIO. Recently, the State Council issued the Master Plan of Guangzhou Nansha on Deepening Comprehensive Cooperation between Guangdong, Hong Kong and Macao with Global Perspective. This press conference will brief you on the document and take your questions. In addition to the main venue here in Beijing, today's press conference is also being held live in Guangzhou, Guangdong province. Joining us today in Beijing are Mr. Guo Lanfeng, member of the CPC Leadership Group of the NDRC; Mr. Wang Jianfan, director general of the Budget Department of the Ministry of Finance; and Mr. Wang Xin, director general of the Research Bureau of the PBC. We are also being joined live by local officials in Guangzhou, including Mr. Zhang Hu, member of the Standing Committee of the CPC Guangdong Provincial Committee and executive vice governor of the People's Government of Guangdong Province; and Mr. Guo Yonghang, deputy secretary of the CPC Guangzhou Municipal Committee and mayor of the Guangzhou Municipal People's Government.

Now, I'll give the floor to Mr. Guo Lanfeng for his brief introduction.

Guo Lanfeng:

Ladies and gentlemen, friends, good afternoon. Thank you for your interest in and support for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and especially the major cooperation platform in Guangzhou's Nansha district. I would like to take this opportunity to express my sincere thanks to friends from all walks of life for their interest and support in the construction of the GBA.

Nansha district enjoys great geographic advantages, enormous development potential and a strong industrial foundation. As Guangzhou, Hong Kong and Macao have strong willingness for cooperation, Nansha bears unique advantages in promoting their comprehensive cooperation. In September 2012, the State Council approved the Development Plan for the Nansha New District of Guangzhou, requiring Nanshan to roll out construction and deepen comprehensive cooperation with Hong Kong and Macao. In February 2019, the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area further specified Nansha's role in promoting cooperation between Guangdong, Hong Kong and Macao, joining hands with Hong Kong and Macao to build a portal for high-level opening-up, jointly building a demonstration zone for innovative development, establishing a major platform for financial services, and creating a high-quality living environment. In recent years, in accordance with the decisions made by the CPC Central Committee and the State Council and the arrangements of the central leading group for the construction of the GBA, we have worked with Guangdong, Hong Kong, Macao and relevant government bodies to draw up the Master Plan of Guangzhou Nansha on Deepening Comprehensive Cooperation between Guangdong, Hong Kong and Macao with Global Perspective, and submitted it to the State Council for publication and implementation. The Nansha plan was published a few days ago.

The Nansha plan, consisting of seven sections and 26 articles, is a fundamental document to promote Nansha's development. It involves the following aspects:

It has phased objectives for 2025 and 2035, respectively. The plan proposes main targets in the fields of sci-tech innovation systems and institutional arrangements, public service capacity and business environment, to name a few.

It also stipulates five major tasks. First, industrial cooperation bases for sci-tech innovation will be built in Nansha. The master plan stresses strengthening collaboration in sci-tech innovation between Guangdong, Hong Kong and Macao, building major sci-tech innovation platforms, developing high-tech industries and pooling high-level international talents. Second, cooperation platforms for startups and youth employment will be established in Nansha. The master plan requires coordinated measures in promoting youth innovation and entrepreneurship, and calls for efforts to improve support for internships and employment and strengthen people-to-people exchanges among the youth. Third, joint efforts will be made to build Nansha into a portal for high-level opening-up. The master plan stipulates that a comprehensive service base for Chinese enterprises going global will be built in Nansha. Measures will also be taken to enhance Nansha's role as an international shipping and logistics hub, strengthen global economic cooperation and build Nansha into a new platform for international communication. Fourth, a mechanism for aligning rules and regulations will be established in Nansha. The master plan notes that a world-class business environment will be built in Nansha, with efforts promoting connectivity in its financial markets in an orderly manner and improving the coordination between public services and social management. Fifth, Nansha will also be built into a model for high-quality urban development. The master plan stresses increasing cooperation in urban planning and development, steadily promoting smart cities, steadily advancing educational cooperation between Guangdong, Hong Kong and Macao, facilitating medical treatment and elderly care for Hong Kong and Macao residents and intensifying joint efforts in ecological protection and treatment.

The plan also stresses boosting support from four aspects: strengthening Party leadership in a comprehensive manner, increasing policy support such as for funding and other factors, creating new models for cooperation, and intensifying organization and implementation efforts.

The Nansha plan will help inject new vitality into an old city like Guangzhou, make new progress in the city's comprehensive urban functions, cultural capacity, modern service industry and its modern and global business environment, and enhance the city's role as the core and engine for the development of the GBA. The master plan will help improve Nansha's urban services in the areas of shipping, trade, finance and international communication, helping Nansha join hands with Hong Kong and Macao to build a high-level opening-up portal, and allowing it to play a bigger part in promoting and building the new development paradigm. The plan also helps create a major strategic platform for the comprehensive cooperation between Guangdong, Hong Kong and Macao, enriches the practice of "one country, two systems," and supports Hong Kong and Macao's engagement in the country's overall development.

Going forward, we will earnestly implement the decisions made by the CPC Central Committee and the State Council and follow the arrangements of the central leading group for the construction of the GBA. We will work with relevant government bodies to increase communication and coordination, keep track of the progress and spare no efforts to support Guangdong province and Guangzhou city in carrying out the Nansha plan, in a bid to put Nansha's high-quality development on a steady and sustained course.

Thank you.

Xing Huina:

Thank you. Next, I will invite Mr. Zhang from the Guangzhou branch to give an introduction.

Zhang Hu:

Ladies and gentlemen, friends from the media, good afternoon. Thank you for your care and support for Guangdong's development. On June 14, the State Council officially issued the Master Plan of Guangzhou Nansha on Deepening Comprehensive Cooperation between Guangdong, Hong Kong and Macao with Global Perspective. The plan was also introduced to support turning Nansha into a major strategic platform based on the GBA, coordinate the development between Hong Kong and Macao, and work with a global outlook. Following last year's introduction of plans for cooperation zones in Hengqin and Qianhai, this plan is another major decision and deployment for the building of the Guangdong-Hong Kong-Macao GBA made by the CPC Central Committee with Comrade Xi Jinping at its core, offering Guangdong new major opportunities and missions and injecting new and strong impetus into Nansha's development. We are inspired, encouraged, and motivated. We are more aware of the far-reaching layout of the Party and our country's undertakings made by the general secretary and the Party Central Committee. We also have a deeper understanding of their care for Guangdong and the great historical responsibility Guangdong shoulders. Yesterday, Li Xi, secretary of the Guangdong Provincial Committee of the CPC, presided over the meeting of the standing committee of the CPC Guangdong Provincial Committee, conveyed and studied the master plan, and discussed the opinions on implementing the plan in our province. He stressed that in accordance with the deployment and requirements of the CPC Central Committee, we must fully support further deepening opening up in Nansha to boost the comprehensive cooperation between Guangdong, Hong Kong, and Macao with a global outlook. He also emphasized that we must fully support the establishment of both Comrade Xi Jinping's core position on the Party Central Committee and in the Party as a whole and the guiding role of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and firmly uphold Comrade Xi Jinping's core position on the Party Central Committee and in the Party as a whole and uphold the Central Committee's authority and its centralized, unified leadership. Today, Wang Weizhong, governor of Guangdong province, presided over the executive meeting of the provincial government and discussed and deployed relevant work. Going forward, we will continue to follow the requirements of the CPC Central Committee, stick to the development direction of the GBA, coordinate the needs of Hong Kong and Macao, and give full play to the role of Guangdong. We will also fully enforce the arrangements of the Party Central Committee and the State Council and work jointly with Hong Kong and Macao to achieve the great goals of the master plan step by step.

First, we will keenly organize people to study, publicize and implement the master plan. We will deeply study and implement the important speeches and guiding principles of the general secretary on the building of the Guangdong-Hong Kong-Macao GBA and for the development of Guangdong and Guangzhou. We will have an in-depth understanding of the significance of the introduction and implementation of the master plan in big-picture terms and from a strategic perspective and accurately grasp the principles and requirements of further deepening opening up in Nansha to boost comprehensive cooperation between Guangdong and Hong Kong, and Macao with a global outlook. We will study and fully promote the implementation of the master plan together with cooperation zone schemes for Hengqin and Qianhai, and effectively align our thoughts and actions with the decisions and deployment of the general secretary and the CPC Central Committee, setting off a massive wave of studying, publicizing and implementing the master plan across the whole province.

Second, we will try to promote the implementation of key tasks. We will establish and improve the mechanisms for organizing, leading, coordinating, and pushing forward our work. The chief officials of the provincial Party committee and the provincial government will take the lead and be in charge of the overall work, the other relevant officials will be responsible for the specific work, and joint working groups at the city- and province-level will be set up. Focusing on the major tasks in five aspects proposed in the master plan, we will specify the key points of the reform, policy, and work, make a list and set up account books, conduct research and analysis, and launch specific platforms, projects, policies, and measures, to accelerate the implementation of the master plan with the joint efforts of the province and its cities.

Third, we will improve the policy planning and supporting system. We will accelerate the introduction of the acting scheme for the implementation of the master plan, formulate provincial-level policies and measures to support Nansha's development, be quick to put forward specific rules for implementing key policies, kick off a new round of the compilation of development plans for Nansha, and strengthen support for Nansha by delegating more power to the district.

Fourth, we will strengthen communication and coordination with Hong Kong and Macao in all respects. We will focus on the goal of turning Nansha into an important carrier to provide strong support for better integrating Hong Kong and Macao into the country's overall development. Nansha will be supported to deepen the connection of rules and mechanisms with Hong Kong and Macao in key areas such as scientific and technological innovation, industrial development, people's livelihood integration, cultural exchange, and urban development, among others. Professionals and talent with a global vision from Hong Kong and Macao will be actively invited to participate in the construction and management of Nansha district.

Thank you.

Xing Huina:

Thank you. Now the floor is open for questions. Please identify the media outlet you represent before raising questions.

CCTV: 

The Nansha plan clearly states that accelerated efforts will be made to build a scientific and technological innovation industry cooperation base, a youth entrepreneurship and employment cooperation platform, a high-level opening-up portal, a high ground for convergence of rules and mechanisms, and a model of high-quality urban development in Nansha. Please tell us what are the considerations for determining these five tasks? What specific measures are there? Thank you.

Guo Lanfeng:

Thank you for your questions. The Nansha plan clearly intends to deepen the comprehensive cooperation between Guangdong, Hong Kong and Macao in Nansha. When we say "comprehensive cooperation," it not only means that we cover Hong Kong and Macao, but also that this kind of cooperation is not limited to some specific aspects, but will cover all key areas of economic and social development. To this end, the plan focuses on such key tasks as scientific and technological innovation, innovative employment, opening up to the outside world, rule convergence, and urban development, and therefore deploys the five tasks. The main considerations and specific measures are:

First, constructing a scientific and technological innovation industry cooperation base. Guangdong, Hong Kong, and Macao are rich in scientific and technological innovation resources. The Nansha plan has put forward many powerful measures to strengthen cooperation in scientific and technological innovation among Guangdong, Hong Kong, and Macao. Among the measures, corporate income tax will be levied at a reduced rate of 15% for enterprises in industries that are being encouraged in the pioneering zones; Hong Kong and Macao residents working in Nansha will be exempted from the portion of their personal income tax that exceeds the tax burden of Hong Kong and Macao. All these measures are expected to greatly boost the gathering of high-tech enterprises and talents in Nansha.

Second, creating a youth entrepreneurship and employment cooperation platform. The Nansha plan clearly includes eligible Hong Kong and Macao residents into the scope of local entrepreneurship subsidies, strengthens the guarantee of supporting services for employment, and provides convenient conditions for accommodation, commuting, and children's enrollment in kindergartens and schools so as to promote the establishment of a hot spot for Hong Kong and Macao youths to innovate and start businesses here.

Third, jointly building a high-level opening-up portal. Nansha is one of the important intersections of the domestic and international circulations and has the unique advantage of connecting the two markets and utilizing the resources of the two. The Nansha plan proposes that Nansha will play an important role in strengthening international economic cooperation and other aspects. According to it, Nansha will study how to further reduce the access threshold for Hong Kong's professional service industry to provide services in the mainland, and rely on Guangzhou, especially Nansha's industrial and market foundation, to join hands with Hong Kong and Macao to continuously deepen international economic and trade cooperation and promote the construction of a new high ground for opening up to the outside world.

Fourth, creating a high ground for convergence of rules and mechanisms. Convergence of rules and mechanisms is one of the key points and difficulties in developing the Guangdong-Hong Kong-Macao GBA. When the rules are connected and converged, the flow of factors will be smooth. The Nansha plan requires Nansha to actively explore and promote the "soft connection" of the rules and mechanisms in the aspects such as improving the level of connection with Hong Kong's and Macao's financial markets, public services, and social management. The plan clearly supports Nansha's pilot projects in cross-border motor vehicle insurance, cross-border commercial medical insurance, etc., and promotes the convergence of the rules of the GBA in depth.

Fifth, establishing a model of high-quality urban development. Accelerating the development and construction of Nansha is an important measure for old city Guangzhou to gain new vitality and make new and outstanding achievements in comprehensive urban functions, comprehensive urban cultural strength, modern service industry, and modern international business environment. The Nansha plan explicitly states that Nansha should deepen cooperation with Hong Kong and Macao in the fields of urban planning and construction, smart city management, and eco-environmental protection so as to promote the modernization of the urban governance system and governance capacity and create a high-quality living circle that is suitable for living, working and traveling.

The five tasks set in the Nansha plan points out the main direction for the construction of a major cooperation platform for Guangdong, Hong Kong, and Macao in Nansha. Next, in accordance with the decisions and deployments of the CPC Central Committee and the State Council, we will work with relevant departments and the governments of Guangdong province and Guangzhou city to continuously deepen our understanding and promote the implementation of these tasks with substantial results. Thank you! 

Southern Metropolis Daily:

The Nansha plan put forward supportive policies in taxation and funding, among others. What are the main considerations here? Thank you.

Wang Jianfan:

The building of the Guangdong-Hong Kong-Macao GBA is a major strategy made by the CPC Central Committee, and Nansha is one of the major cooperation platforms for that. To promote the development of Nansha in deepening the comprehensive cooperation between Guangdong, Hong Kong and Macao, the State Council released the Nansha plan — an overall plan for the development of Nansha — and made related fiscal and tax policy arrangements. Our considerations are in the following aspects:

First, to attract factors of innovation to gather in Nansha and boost the building of a sci-tech innovation hub in the area. Preferential tax policies will be in place. We will extend the loss carryforward period for high-tech enterprises in key industries. The enterprise income tax rate will be reduced to 15% for enterprises in encouraged industries in Nansha's pioneering zones. We will support eligible one-stop business start-up platforms to enjoy tax-preferential policies for incubators of sci-tech companies in accordance with the rules. We will work to implement the import tariff policies that support sci-tech innovations and encourage Nansha to further gather innovation resources and boost the vitality for innovation.

Second, to better take advantage of Nansha's location and create favorable conditions for residents from Hong Kong and Macao to work and live in Nansha. For residents from Hong Kong and Macao who work in Nansha, we will exempt the portion of income tax exceeding that in Hong Kong or Macao, helping our compatriots from Hong Kong and Macao to enjoy more convenience in starting businesses, getting jobs, and living in Nansha. Efforts will be made to support Hong Kong and Macao in integrating their own development into overall national development. 

Third, given the expenditures arising from Nansha's rapid development, we will guarantee financial support for the high-quality building of the district. To support the accelerated development of Nansha, from 2022 to 2024, the Ministry of Finance will set the ceiling for newly-incurred local government debt at 10 billion yuan on an annual basis, which will be dedicated to five major building tasks of Nansha. Support will be given to major projects that are expected to enjoy better benefits and growth prospects and will take a demonstrative and leading role. At the same time, based on the fiscal strength of local governments, debt risks, and the financing needs of projects, Guangdong province will weigh its supporting policies toward Nansha while allocating relevant fiscal budgets and new quotas of local government bonds. The funds will be devoted to developing infrastructure and public service facilities in Nansha.

Next, the Ministry of Finance, together with other departments, will work out detailed policies clearly outlined in the Nansha plan, ensure them to be well implemented, and give play to the role of policies in helping build Nansha into a major global-oriented strategic platform in the GBA that brings together Hong Kong and Macao. Thank you.

GRT:

According to the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, Nansha district will fully leverage its strength as the state-level new area and the pilot free trade zone (FTZ), enhance comprehensive cooperation with Hong Kong and Macao, and accelerate its development to carry the functions of international shipping and scientific and technological innovation for the GBA and become a gateway of high-standard opening-up. Since Nansha plan has made clear requirements in terms of the strategies of "going global", how will Nansha district cooperate with Hong Kong and Macao to further advance its institutional opening-up? Thank you.

Zhang Hu:

Thanks for your questions. The master plan takes global perspective as one of the important strategic positioning of Nansha district's development, requiring Nansha district to play a leading role in the Guangdong-Hong Kong-Macao GBA's participation in international cooperation and competition, and work together with Hong Kong and Macao to build a gateway to high-standard opening-up. Going forward, we should have an accurate understanding of the opening-up orientation for Nansha district, focus on international and domestic markets and resources, giving full play to the role of the GBA as the pacesetter for institutional innovation, the gateway of opening-up, and the hub of comprehensive services. We should work with Hong Kong and Macao to build an institutional system and regulatory model that are consistent with the international rules to achieve high-quality "bringing in" and high-standard "going global" and continuously improve global resource allocation capabilities, making positive contributions to accelerating the construction of a new pattern of development. The priority of our work will be given to the following four aspects:

First, we will improve comprehensive services for the strategies of "going global." We will align with the development needs of countries and regions along the Belt and Road routes and fully leverage both the strengths of Hong Kong and Macao, such as intensive international connections and developed professional services. This will also include the strengths of the GBA, such as vast mainland market, complete industrial system, and strong scientific and technological strength to fully support the development of modern service industry clusters in Nansha district. We will jointly advance the international economic and trade cooperation, develop an integrated online and offline system of one-stop comprehensive services for international investment and financing, and build a comprehensive service base for Chinese companies to "go global."

Second, we will further develop it into an international shipping and logistics hub. We will work with Hong Kong and Macao to enhance the role of the GBA as the international shipping hub, deepen cooperation in key areas such as shipping logistics, shipping finance, maritime services, and cruises and yachts. We will also promote the cross-border and cross-region integration of maritime service resources, and accelerate the construction of major projects such as Phase IV of the Guangzhou Nansha Automated Deepwater Port. We will support Guangzhou Shipping Exchange to expand shipping exchange and other services and work with Hong Kong and Macao to build a Joint Shipping Exchange Center in the GBA. We will accelerate the development of maritime services such as ship management, inspection and testing, and maritime dispute resolution and create an international maritime service industry cluster district.

Third, we will strengthen its role as an engine for international economic cooperation. We will support Nansha district in pursuing the high-quality implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement and actively align with the rules in high-standard international free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). We will conduct more stress tests to accumulate experiences in advance. We will actively foster stronger synergy and cooperation with developed economies in the fields of the digital economy, technology finance, and green development. We will support enterprises to participate in the making of international rules and standards, contributing to China's participation in the reform of the global economic governance system.

Fourth, we will further build it into a new platform for international exchanges. We will jointly advance practical exchanges and cooperation with the Belt and Road Initiative countries and regions, global major FTZs, international ports, business associations, and international organizations. We will hold international-themed events such as the annual meeting of the International Financial Forum (IFF) and the Greater-bay Science Forum and create an international economic cooperation platform for the GBA to synergize with the Belt and Road Initiative. We will encourage and guide major business associations of Hong Kong and Macao to set up representative offices in Nansha district and actively introduce Hong Kong and Macao professionals and talents with global vision to participate in the construction and management of Nansha district to accelerate the modernization and internationalization of Nansha district's development.

Thank you.

21st Century Business Herald:

The Nansha plan is another major strategic deployment of the Chinese government to further promote the development of the Guangdong-Hong Kong-Macao GBA. How has Nansha's development been up to now, and what kind of foundation has it laid for the Nansha plan in the future? How will you build Nansha into a strategic platform in the GBA that coordinates with Hong Kong and Macao and connects with the world? Thank you.

Guo Yonghang:

Thanks for your questions. Since the 18th CPC National Congress, General Secretary Xi Jinping and the Party Central Committee have paid close attention to Nansha's development. In 2014, Nansha district became a pilot FTZ. During his inspection tour in Guangdong in 2018, General Secretary Xi Jinping stressed the need to plan, develop, and construct Nansha district well. In 2019, the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area proposed building Nansha district into a demonstration zone of comprehensive cooperation between Guangdong, Hong Kong, and Macao. Thanks to these multiple benefits, Nansha ushered in a new stage, and its development accelerated significantly. Last year, the Nansha district's GDP exceeded 200 billion yuan, and the world's top 500 companies invested in 223 projects there. Its R&D investment intensity reached 3.67%, and a "1+1+3+N" system for S&T innovation was initially formed. A total of 749 institutional innovation results were achieved, 43 of which have been promoted nationwide. More than 2,700 Hong Kong and Macao enterprises have settled in the district with an investment volume of US$117 billion. The Guangzhou Futures Exchange, the Greater Bay Science Forum, and International Financial Forum were also set up and held in Nansha.

Located at GBA's geographical heart, Nansha district is in the center of the bay area, covering an area of 803 square kilometers and with a development intensity of 23%. Renowned universities, institutions, and research centers are therefore attracted to Nansha: The Hong Kong University of Science and Technology (Guangzhou) will open in autumn of this year, the middle school affiliated with the South China Normal University and Zhixin High School will open campuses in Nansha, and two national medical centers of Guangdong will also settle in Nansha. With outstanding advantages and beneficial policies, Nansha's future development enjoys favorable timing, geographical convenience, and the people's support. 

The plan, which makes Nansha a major strategic platform,puts forward five objectives and requirements. We will strengthen the Party's leadership in all respects, bear in mind the country's most fundamental interests, and seize the opportunity and grasp this historic opportunity so as to follow the principles of innovation, practicality, and precision and live up to the mission of our times.

In terms of innovation, we will carry forward Guangzhou's spirit of reform and innovation, stay enterprising and innovative, and set new standards in order to accelerate alignment with the rules and mechanisms of Hong Kong and Macao. A world-class business environment that can attract both domestic and international enterprises will be established. We will work together with Hong Kong and Macao to build Nansha into a comprehensive service base for Chinese enterprises going abroad, a new model for global resources allocation, and a new platform for international exchange. Nansha strives to become a strategic node in fostering a new development paradigm.

In terms of practicality, we will take a pragmatic approach, make concrete efforts and aim to deliver when cooperating with Hong Kong and Macao. The Guangzhou laboratory is encouraged to strengthen research cooperation with Hong Kong and Macao, and other laboratories in Guangdong province are urged to set up branches or bases in Hong Kong. We will facilitate cross-border use of fiscal research funds and boost research institutions to jointly carry out S&T innovation projects. Tapping into Hong Kong's "super-connector" role and Macao as a bridge connecting with Portuguese-speaking countries, Nansha will drive the commercialization and application of international S&T achievements. Efforts will be made to introduce investment, deepen cooperation in industrial and supply chains, construct a demonstration zone for young Hong Kong and Macao entrepreneurs, improve relevant policy and service systems, and strengthen the supply of education, medical care, elderly care, and other services for Hong Kong and Macao residents.

In terms of precision, we will pursue elaborate planning, targeted construction, and sound growth so as to promote high-quality development. The development plan of Nansha district will be revised, and regulations of Nansha on deepening comprehensive cooperation between Guangdong, Hong Kong, and Macao with a global perspective will be formulated. Protection and inheritance of history and culture will be strengthened, and a national demonstration zone for ecological friendliness will be created. We will build the smartest urban district and fine-tune our efforts in urban management. Smart manufacturing, digital industries, high-end service industries, and industries related to reinforcing the marine industry through technology will be developed. We will also build a modern industrial system featuring green and low-carbon technologies. Thank you.

Hong Kong Commercial Daily:

Financial support for the real economy is a highlight of Nansha's development and a focus of the Nansha plan. What measures has the PBC taken to promote Nansha's development through financial support? What are your plans for the future? Thank you.

Wang Xin:

Thank you for the questions. The PBC attaches great importance to developing the GBA and Nansha, a critical platform for cooperation between Guangdong, Hong Kong, and Macao. Under the leadership of the CPC Central Committee and the State Council, we have strengthened financial support to boost Nansha's high-quality development, aid with Nansha's role in deepening comprehensive cooperation between Guangdong, Hong Kong, and Macao, and build a major strategic GBA-based platform with a global outlook. In terms of top-level design, we have introduced 15 financial reform measures for Nansha, the Guidelines on Financial Support for the Development of China (Guangdong) Pilot Free Trade Zone, the Opinions on Financial Support for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, and other targeted documents. Regarding the connectivity of financial markets, we officially launched the Cross-boundary Wealth Management Connect Scheme in the GBA last October, expanding cross-boundary wealth management channels for residents in the GBA, including those in Nansha. To facilitate cross-border investment and financing, the State Administration of Foreign Exchange launched a pilot program for high-standard opening-up of cross-border trade and investment in Nansha last November and introduced 13 specific measures. Free trade accounts and cross-border capital pool business have also been launched in Nansha. In terms of financial leasing, we have vigorously boosted the concentration and innovative development of the sector, and several new transactions, such as cross-border aircraft subleases, have been launched in Nansha. In terms of green finance, the Guangzhou Futures Exchange was unveiled in Nansha, developing products that can serve low-carbon and green development, such as carbon emission rights, electricity, and new energy metals. In terms of risk prevention, we have supported Nansha in building a local financial risk monitoring and prevention platform for Guangdong province and continuously enhanced risk monitoring and prevention abilities. Overall, finance has become a pillar industry in Nansha. Just seven or eight years ago, Nansha started to develop its financial sector from scratch. In 2015, the value-added of the financial sector was almost negligible. In 2021, the value reached 17.15 billion yuan and accounted for 8.05% of Nansha's GDP. A total of 6,650 financial enterprises have settled in Nansha, an increase of 54 times within seven years. The tax contributions paid by the financial sector increased at an average annual growth rate of nearly 60% from 2016 to 2021.

Going forward, the PBC will continue to implement the decisions and plans of the CPC Central Committee and the State Council, support the development of Nansha's modern financial sector in collaboration with relevant departments, and promote the implementation of various innovative measures such as high-standard opening-up of cross-border trade and investment, push forward financial market connectivity in an orderly manner, improve risk prevention and control abilities while pursuing opening-up, and provide strong financial support for Nansha to build a critical platform for cooperation between Guangdong, Hong Kong, and Macao, and to better play a leading role in the development of the GBA.

Thank you.

Phoenix TV:

Currently, Nansha also attaches great importance to scientific and technological innovation. Voices from Hong Kong ask if this will be a challenge to Hong Kong and other places? How to better leverage their complementary advantages for cooperative development? Thank you.

Guo Yonghang:

Thank you for your question. General Secretary Xi Jinping has stressed that the core position of innovation in the overall modernization drive must be upheld and innovation must be actively encouraged and supported as a national policy. Any innovator, regardless of where they come from, will be supported by us as long as they contribute to national development. The plan's release marks that the development and construction of Nansha has gained national significance, thus giving Nansha great responsibility. Nansha should not and will not be absent in China's efforts to enhance its independent scientific and technological capabilities and foster a new development paradigm.

In recent years, under the strategic guidance of the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the development of both Guangzhou and the Nansha district has become more integrated with that of Hong Kong and Macao, showing sound momentum of integration and mutual promotion. For example, in terms of sci-tech infrastructure, a team of professors from the Hong Kong University of Science and Technology (HKUST) studied cycling aerodynamics with the "Tianhe-2" supercomputer installed in the Nansha branch of the National Supercomputer Center in Guangzhou, thus helping Hong Kong athlete Lee Wai-sze win a precious medal in track cycling at the Tokyo Olympic Games. Data showed that over the past five years, more than 200 HKUST teachers used the National Supercomputer Center in Guangzhou, which is as convenient as using a local area network. For another example, in terms of implementing major sci-tech special projects, the Southern Marine Science and Engineering Guangdong Laboratory (Guangzhou), which is located in Nansha, has set up a branch in Hong Kong, and the laboratory allocated 38 million yuan in cross-border scientific research funds to the branch in 2019, the first of its kind by a mainland city. Over the past two years, Guangzhou, Hong Kong, and Macao have also made vigorous research cooperation against the pandemic.

The plan emphasizes coordination with Hong Kong and Macao, thus pointing out the path for Nansha's development. It also emphasizes a global perspective, which is a shared goal for the development of Guangdong, Hong Kong, and Macao. In fact, the needs and aspirations of Nansha are just the strengths of Hong Kong and Macao. For example, in terms of facilitating the transfer and application of international advances in science and technology, the strength of Hong Kong as a "super contact person" and the strength of Macao as a bridge connecting to Portuguese-speaking countries are incomparable. At the same time, Nansha has an outstanding advantage in industrialization. Therefore, cooperation is far greater than competition for Nansha, Hong Kong, and Macao.

A Chinese saying says, " When brothers are of the same mind, they have the power to cut through metal." We will follow the top-level design from the central government and commit to complementarity of advantages and coordination to strengthen joint innovation among Guangdong, Hong Kong, and Macao. Efforts will be made to accelerate the progress of a number of major projects, including the big science facilities for cold-seep ecosystem observation and simulation, the Southern Marine Science and Engineering Guangdong Laboratory (Guangzhou), the Mingzhu Science Park of the Chinese Academy of Sciences, and the Headquarters Base for the Transfer and Application of HKUST's Scientific and Technological Innovation Achievements. We will actively support Nansha as a destination of transfer and application of Hong Kong's innovation achievements in electronic engineering, computer science, marine science, artificial intelligence, smart city, and other fields. We will strive to make the pie of cooperation bigger and better so we can all enjoy more pie. Thanks!

Macao Daily:

The central government has rolled out a series of supporting policies and measures in recent years to bolster the development of the GBA, such as the plans for Hengqin and Qianhai. And now comes the Nansha plan. How are they different from one another regarding functions and positions? What's unique about the Nansha plan? Thank you.

Guo Lanfeng:

Thank you for your question. The three platforms- Hengqin in Zhuhai, Qianhai in Shenzhen, and Nansha in Guangzhou, are major cooperation platforms announced in the Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area. Last September, the CPC Central Committee and the State Council issued the General Plan for Building the Guangdong-Macao In-depth Cooperation Zone in Hengqin and the Plan for Comprehensively Deepening Reform and Opening-up for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. This June, the State Council introduced the Master Plan of Guangzhou Nansha on Deepening Comprehensive Cooperation between Guangdong, Hong Kong, and Macao with a Global Perspective. The Hengqin plan focuses on the original aspiration of promoting Macao's moderate economic diversification and aims to serve Macao's development and advance its integration with Hengqin. The plan defines the strategic position of the zone as a new platform to boost Macao's moderate economic diversification, a new space that provides convenience to Macao residents' life and employment, and a new model to enrich the practice of "one country, two systems," as well as a new high ground for building the GBA. The Qianhai plan is mainly about expanding the existing zone and further opening up. Centering on promoting the modern service industry - one of Hong Kong's competitive industries, it aims to deepen cooperation between Shenzhen and Hong Kong and jointly build a test platform for comprehensively deepening reform and innovation as well as a high-level gateway for opening up. It is set to provide more space for Hong Kong's economic development and accumulate experience for the reform and opening-up of Shenzhen and the mainland beyond. The plans for Hengqin and Qianhai emphasize serving Macao and supporting Hong Kong, respectively, to further advance the Guangdong-Hong Kong-Macao cooperation.

Highlighting two key components -- "comprehensive cooperation in the GBA" and "a global perspective," the Nansha plan stresses synergetic development between Nansha and Hong Kong and Macao for a wider opening-up of the GBA. The project is attributed to the domestic and global landscape and the foundations of Nansha's development. The two components were our focus during the Nansha plan's compilation. 

On the one hand, we consistently pursue synergetic development between Nansha, Hong Kong, and Macao. We firmly bear in mind the critical mission of supporting Hong Kong and Macao's integration into overall national development, improving Hong Kong and Macao compatriots' well-being, and maintaining longstanding prosperity and stability in the two special administrative regions. In the strategic context of developing the GBA, we are giving full play to Nansha's advantages. We are using exchange mechanisms like the Guangdong-Hong Kong Cooperation Advisory Committee and major cooperation platforms like the Hong Kong University of Science and Technology. We coordinate the "hard connectivity" of infrastructure with the "soft connectivity" of rules and mechanisms. We attach more importance to industrial cooperation on science and technology innovation as well as youth's employment and business start-up and accelerate factors' efficient and convenient flow in the GBA to promote extensive consultation, joint contribution, and shared benefits in the region.

On the other hand, we consistently open up to the world. To build a new development paradigm, we explore resources in both domestic and global markets and synergize with Hong Kong and Macao in establishing an institutional system and regulation mode conforming to international rules and norms. Leveraging the rules of international high-level free trade agreements, we actively integrate into the global market to realize high-quality "bringing in" and "going global" and increase the GBA's edge in terms of international cooperation and competition. 

Despite their unique strategic positions, the three cooperation platforms of Hengqin, Qianhai, and Nansha mutually reinforce each other, with a view to piloting critical links in key areas and accumulating experience. They are expected to power extensive cooperation in the GBA, expand development space for Hong Kong and Macao, support their socio-economic development, and sustain their longstanding prosperity and stability. Thank you.

CRNTT:

The Nansha plan proposed to build Nansha into a new home for Hong Kong and Macao youths by creating a cooperation platform for youth entrepreneurship and employment. In particular, it aims to raise the number of residents from Hong Kong and Macao in Nansha significantly by 2035. Could you share with us what measures Guangdong has made in this regard? What key policies and measures will Guangdong take next in attracting Hong Kong and Macao youths? Thank you. 

Zhang Hu:

Thank you for your questions. General Secretary Xi Jinping stressed that efforts must be made to create more opportunities for young people in Hong Kong and Macao and help them solve practical difficulties and problems in their study, employment and starting up of businesses and create a social environment favorable for them to realize their dreams. In recent years, Guangdong has actively supported and facilitated innovation, entrepreneurship, and employment among Hong Kong and Macao youths in the province. We have initially established a "1+12+N" system of innovation and entrepreneurship incubators for Hong Kong and Macao youths, under which "1" refers to the Guangdong-Hong Kong-Macao Greater Bay Area (Guangdong) Innovation and Entrepreneurship Incubator, "12" refers to the twelve key incubators in the Pearl River Delta, and "N" refers to the various distinctive incubators spread across Guangdong. With this system, we have incubated 2,394 projects for Hong Kong and Macao youths and attracted 3,455 Hong Kong and Macao youths to work in Guangdong. We have also organized job fairs for college students of the Guangdong-Hong Kong-Macao GBA and offered nearly 100,000 job and internship vacancies to Hong Kong and Macao youths. The master plan has listed cooperation in youth entrepreneurship and employment as one of its five priorities, with unprecedented expectations, support, favorable policies, and rare opportunities.

Next, Guangdong will actively seize the major opportunities presented by the master plan and let more Hong Kong and Macao youths share the development opportunities of the GBA, better integrate into national development and actively participate in national construction with good resources, conditions, and platforms. The following three areas will be our key priorities.

First, we must create opportunities and coordinate youth innovation and entrepreneurship efforts. We will improve the construction of key innovation and entrepreneurship projects such as the GD, HK & Macao (International) Youth Entrepreneur Hub and the Cultural Innovation Community for Guangdong, Hong Kong, and Macao Youths. We will introduce innovative management modes for these projects and expand their services to foster a quality ecosystem for innovation and entrepreneurship. We will push ahead with efforts for qualified one-stop innovation and entrepreneurship platforms to enjoy the preferential tax policies offered to tech enterprise incubators in accordance with rules. We will also include qualified business starters from Hong Kong and Macao under the coverage of entrepreneurship subsidies of Nansha and let them equally enjoy such support policies as guaranteed loans and interest subsidies.

Second, we must improve the environment and provide a better guarantee for jobs and internships. We will accelerate efforts to build a public platform for comprehensive employment services. Nansha's program for Hong Kong and Macao youths to work in local enterprises will be further implemented to align with the Greater Bay Area Youth Employment Scheme and the Thematic Youth Internship Programs on the Mainland of the government of the Hong Kong Special Administrative Region. We will also explore ways for public institutes, statutory institutes, and state-owned enterprises in Nansha to recruit youth talents from Hong Kong and Macao. Besides, we will make it more convenient for Hong Kong and Macao professionals to work and practice in Nansha with improved policies and services for them in various aspects from entry and exit, housing, transport, and education to healthcare and social security and medical insurance. We will work wholeheartedly to see that Hong Kong and Macao youths can work in Nansha worry-free. 

Third, we must build bridges to strengthen cultural exchanges among youths. We will work to do a good job in building the headquarters for exchanges among youths of Guangdong, Hong Kong, and Macao, actively carry out cooperation on study tourism of teenagers, and build up several distinctive brands of exchange programs. We will tap Guangzhou's advantages as the place of origin of the Maritime Silk Road, the center for Lingnan culture, and its forward position for reform and opening up. We will work with Hong Kong and Macao to hold various forms of cultural and art activities to guide teenagers of Guangdong, Hong Kong, and Macao to actively participate in the protection and utilization of major cultural heritages and constantly boost their sense of belonging to the motherland and sense of identity to the "one country, two systems" principle. Thank you.

Xing Huina:

Thank you to all speakers and friends from the media. Today's press conference is now concluded. 

Translated and edited by Cui Can, Wang Wei, Xu Kailin, Ma Yujia, Lin Liyao, Liu Qiang, Zhang Liying, Zhang Junmian, He Shan, Zhou Jing, Wang Qian, Zhu Bochen, Yuan Fang, Zhang Tingting, Yang Xi, David Ball, Tom Arnsten, and Jay Birbeck. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.