The Traditional Chinese Medicine Technology and Creativity Museum is a large-scale TCM-themed museum in Zhuhai, Guangdong province. (PHOTO: VCG)

By CHEN Chunyou

The Catalogue of Encouraged Industries for Investment in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (Encouraged Industries Catalogue) was released on April 3 by the National Development and Reform Commission (NDRC).

The new catalogue aims to boost the local economy and further integrate Macao with the mainland by attracting investment, promoting talent exchanges, and developing key industries in the region.

The catalogue has a total of 185 items in five major categories: 70 items are related to technology research and development and high-end manufacturing; 24 items are Macao's brand industries, such as traditional Chinese medicine and new drug development and production; 59 items are cultural, tourism, exhibition and trade industries; 16 items are modern financial industry, and 16 items are other industries such as higher education and vocational skills training.

Also listed in the Encouraged Industries Catalogue is the research and development of emerging fields and their application, such as quantum tech, brain-like research, AI, gene sequencing, and stem cells. The inclusion aims to guide and increase Hengqin's cultivation of emerging and future industries, and add new vitality to its development.

Industries included in catalogue are eligible for various preferential policies, such as personal income tax cuts for eligible employees, while companies are also eligible for further supportive policies, such as land and funding allocation and utility guarantees.

The compilation of the catalogue is based on the actual situation of Hengqin's development foundation and Macao's social expectations, according to an official from NDRC, adding that it highlights the advantageous industries and sub-sectors of Macao, so that all sectors of Macao can benefit more from the fruits of development of the mainland.