Guangzhou Unveils Customs Facilitation Plan for Trade in Greater Bay Area

The Leading Group of Guangzhou for Promoting the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area recently passed its action plan for the Greater Bay Area (GBA) (Sui Da Wan Qu No. 2 [2021]). The aims of the plan are to boost high-level connectivity within the region, promote the efficient and convenient flow of resources and factors of production, and to make the GBA the first area to achieve trade liberalisation and customs facilitation. The plan covers the following objectives:

• Set up stores in Hong Kong and Macao, and warehouses in Guangdong, to tap Hong Kong’s status as a free port and Macao’s advantages as a commercial and trade cooperation service platform between China and Portuguese-speaking countries.

• Facilitate the use of the Mainland Travel Permit for Hong Kong and Macao residents through application of electronic and information technology and other means.

• Support cooperation between Hong Kong and Macao financial institutions and jointly develop off-shore financial business according to regulations.

Source: Guangzhou Municipal Development and Reform Commission