China's Greater Bay Area: Your Next Business Destination By Sebastian Hoffmann, Senior Sales & BD Associate and German Desk Manager, Hawksford The Greater Bay Area (GBA) lays its foundations in the Pearl River Delta, China’s first manufacturing and logistics hub, now transforming into an innovation and technology centre and a city cluster for emerging industries. Local and central authorities invest heavily in infrastructure, talents, and the economy. Domestic and international companies can enjoy a wide range of business support programs and financial incentives in the Greater Bay Area.
1. Connectivity in Talent and Infrastructure Favourable policies are continuously being developed to encourage high-end talent and talent in short supply to settle down in the region. One of the key advantages is the low tax rates, enabling higher mobility and more effortless connectivity to talents worldwide. Usually, the income tax rate for an individual taxpayer can be up to 45%, but eligible individuals working in the GBA can enjoy a preferential tax rate of 15%. Living allowances are also available for eligible high-level professionals and technical personnel.
Kong to strengthen geographical connectivity and talent exchange for creating a “one-hour living circle”.
2. Global Hub for Technology & Innovation Shenzhen has become a forerunner in innovation and technology after a 40-year reformation. The main merits of establishing a tech company in Shenzhen include becoming neighbours with Chinese tech giants, such as Tencent, Huawei, DJI, and ZTE. It also means that you gain access to advanced equipment, best practices, and an extensive network with innovation leaders, local manufacturers, and distributors. Other initiatives to further boost the innovation and technology ecosystem set out in the plan include coworking spaces, entrepreneurship exchanges, innovation platforms, and R&D institutes. Hong Kong can pool together regional and worldwide innovation resources to promote R&D for global businesses and boost GBA’s competitiveness.
3. Financial Powerhouse Cross-boundary facilities and transportation networks are being developed between mainland cities and Hong d
A range of initiatives have been set out to increase the DD 11
