Hengqin Expands Focus on Chinese Medicine and Technology for Economic Growth
Hengqin's Aspirations in Chinese Medicine and Technology
Hengqin, an island adjacent to Macau, is making significant strides to bolster its economy by tapping into the sectors of Chinese medicine and technology. According to So Kun, deputy director of the Hengqin Corporate Zone, the island presents a unique opportunity for start-ups and companies looking for growth.
Tax Advantages and Incentives
- Low corporate and individual tax rates enhance the appeal for businesses.
- Hengqin offers a 15% salary tax rate, below the standard rates in the region.
- With over 300 researchers expected at a new Chinese medicine research lab, the island will become a hub for innovation.
Innovations in Transport
Moreover, critical projects include the rollout of autonomous vehicles, such as self-driving taxis and minibuses, signaling a commitment to modern transportation solutions.
Future Development and Challenges
While Hengqin is successfully positioning itself as a platform for investment, it still faces challenges, including limited global recognition and attracting a skilled workforce. So emphasizes the need for increased visibility and marketing initiatives to draw in more talent and investment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.