China’s Guangdong province is conducting a feasibility study to establish a free trade zone that includes the special administrative regions of Hong Kong and Macau, English-language newspaper the China Daily reported.
The free trade zone will include the Nansha region of the city of Guangzhou, the capital of the province, Hengqin island, in the Zhuhai special economic zone where a new campus of the University of Macau recently opened, the Qianhai region in the Shenzhen special economic zone and the integrated development area of Guangzhou Airport.
The China Daily reported that officials from Guangdong province had been asked to present the project “immediately” for central government approval, which may be given at the beginning of 2014.
The Nansha region, located in the Pearl River, covers an area of 803 square kilometres, Qianhai is an area of just 15 square kilometres bordering Hong Kong, and Hengqin, which is next to Macau, has an area of 10.4 square kilometres.
A free trade zone allows products to be manufactured, imported and exported without being charged a number of taxes, particularly customs taxes. (macauhub)