On February 8, the Guangdong Provincial Department of Commerce held a conference at the Hong Kong Convention and Exhibition Center to promote the province's latest investment and trade policies to Hong Kong investors.

Over 600 representatives from about 500 enterprises and organizations attended the conference, including senior executives from the Commerce and Economic Development Bureau of the Hong Kong SAR Government, the Hong Kong Trade Development Council, the five major chambers of commerce in Hong Kong, and local industries and business associations.

Zhang Jinsong, director general of the Department of Commerce of Guangdong Province, introduced that Guangdong has advantages in economic scale, population and market, industrial facilities, convenient transportation, business environment and ecological environment, and expects to attract more investment in manufacturing and more regional headquarters of multinationals.

According to Zhang, in terms of investment incentives, qualified regional headquarters of multinational companies whose annual actual foreign investment exceeds 10 million USD will be rewarded at 2% of their real foreign investment for the year, with a maximum award of 100 million RMB.

For the introduction of manufacturing projects with a total investment of more than 1 billion RMB in the Pearl River Delta cities and projects with a total investment of more than 500 million RMB in the eastern, western and northern Guangdong, they will be rewarded with a maximum amount of 2% of their newly added actual fixed asset investment.

In terms of tax incentives, in Hengqin, Qianhai, and Nansha, the encouraged industrial enterprises is subject to a corporate income tax rate of 15%. Also, corporate executives and high-tech personnel are subject to a 15% personal income tax rate.

Zhang introduced that Guangdong-Hong Kong's cooperation lies in exhibitions, trade, financing, and attracting overseas investment jointly.

Zhang revealed that the 2023 Guangdong-Hong Kong-Macao Greater Bay Area Global Investment Conference is scheduled to be held in Guangzhou in October or November and has sent invitations to Hong Kong investors.