- The GBA is built on “one country, two systems, three customs territories, three legal systems” — Hong Kong and Macao are separate customs territories from the nine Guangdong mainland cities.
大湾区以”一个国家、两种制度、三个关税区、三种法律体系”为基础——香港、澳门与广东九市分属不同的关税区与法律体系。- The IIT subsidy for overseas high-end and urgently-needed talent effectively caps the top individual burden at about 15% in the nine Guangdong cities.
对境外高端和紧缺人才的个人所得补贴，在广东九市将个人实际税负上限控制在约 15%。- The GBA IIT preferential policy runs through 31 December 2027 under Cai Shui [2019] No. 31 and its extension Cai Shui [2023] No. 34.
大湾区个税优惠政策依据财税〔2019〕31 号及其延续文件财税〔2023〕34 号，执行至 2027 年 12 月 31 日。- The subsidy is capped per taxpayer per year (Guangdong sets a local maximum of RMB 5 million per taxpayer per year).
补贴设单人年度上限（广东省地方细则规定每名纳税人每年最高 500 万元）。- Market access follows the 2024 national foreign-investment negative list, which cut nationwide restrictions to 29 items with manufacturing fully opened.
市场准入遵循 2024 年全国外资准入负面清单，限制措施压减至 29 条，制造业已全面放开。- The pilot cooperation zones — Qianhai (modern services), Nansha (trade/shipping), Hengqin (Macao), HK–SZ Loop (R&D) — offer additional sector-specific opening that applies only inside the zone.
前海（现代服务业）、南沙（贸易航运）、横琴（澳门）、河套（研发）等试点合作区，在区内提供额外的行业开放，且仅在区内适用。- The cross-boundary lock model and streamlined port clearance shorten transit times and lower logistics cost for cross-border goods.
“跨境一锁”模式与简化口岸清关，缩短跨境货运时长并降低物流成本。- Use Hong Kong as a regional holding, financing and IP base while operating a Mainland WFOE for production and sales.
以香港作为区域控股、融资与知识产权基地，同时以内地 WFOE 承载生产与销售。
Greater Bay Area: opportunities for SMEs | 粤港澳大湾区：中小企业的机遇
Overview
The Guangdong–Hong Kong–Macao Greater Bay Area (GBA) is a city-cluster strategy that bundles Hong Kong, Macao and nine municipalities in Guangdong province — Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing — into a single integrated economic space. As set out in the *Outline Development Plan for the Guangdong–Hong Kong–Macao Greater Bay Area* (issued by the CPC Central Committee and the State Council in February 2019), the GBA covers about 56,000 square kilometres and, as of 2017, had a population of roughly 70 million and an economic aggregate of around RMB 10 trillion (about USD 1.6 trillion in 2018). For a foreign small or medium-sized enterprise (SME), the GBA is not one market but a layered platform: a global financial and services hub in Hong Kong, a tourism-and-diversification base in Macao, and a vast advanced-manufacturing and innovation hinterland across the nine mainland cities.
This article explains, in practical terms, what the integration means for a foreign SME, how goods and talent now move across the “three customs territories and three legal systems”, and which incentives and market-access channels are realistically available to foreign-invested smaller businesses.
The integration framework and why it matters to SMEs
The GBA’s defining feature is what Chinese policy documents call “one country, two systems, three customs territories, three legal systems”. Hong Kong and Macao are separate customs territories with their own currencies, tax systems and common-law/civil-law traditions; the nine Guangdong cities sit inside the Mainland customs and legal system. Integration therefore does not mean merging the three systems — it means building “soft connectivity” (规则衔接、机制对接) so that factors of production flow more efficiently while each side keeps its own regime.
For an SME this has two consequences. First, the GBA gives a foreign firm a low-friction way to use Hong Kong as a regional holding, financing and IP base while operating production and sales on the Mainland side. Second, the integration agenda actively lowers friction for smaller players: simplified customs models, mutual recognition of professional qualifications, and a growing set of fiscal subsidies aimed at attracting overseas (including foreign, HK/Macao and Taiwanese) high-end and urgently-needed talent. The strategic positioning named in the Plan is fivefold — a world-class city cluster, an international science-and-technology innovation centre, a support pillar for the Belt and Road, a demonstration zone for in-depth mainland–HK/Macao cooperation, and a liveable, workable and tourist-friendly quality-living circle.
Cross-border flow of goods and talent
Goods: The Mainland and Hong Kong have rolled out the “cross-boundary lock” (跨境一锁) model across the GBA, and the Mainland–Macao version has started. Port clearance has been streamlined, with models such as “cooperative inspection, one-time release” (合作查验、一次放行) at the HZMB Zhuhai–Macao port and “one-stop two-system inspection” (一地两检) at Hong Kong’s West Kowloon station. For SMEs this translates into shorter transit times and lower logistics cost on cross-border shipments.
Talent: Cross-boundary mobility is the most practical benefit for a knowledge-intensive SME. The Mainland side has recognised or made facilitation arrangements for professional qualifications from HK/Macao in eight key fields — construction, healthcare, education, law, accounting, tourism and others. Hong Kong and Macao residents working in the nine cities are, subject to local rules, now able to buy property, enroll their children in local schools, and participate in the local social-insurance system. For foreign (non-Chinese) staff, the GBA’s talent policies are layered on top of national visa and work-permit rules, and several cities operate “green channel” pathways for research and innovation leaders.
Capital: On the financial side, a unified RMB/foreign-currency cross-border cash-pool business has been launched, the cross-boundary Wealth Management Connect (跨境理财通) pilot is advancing, and cross-boundary motor-vehicle insurance (“one policy, three places”) is being trialled. These are most relevant to SMEs with cross-border treasury needs, though they remain subject to mainland capital-account and conduct rules.
Incentives and market access for foreign SMEs
The single most relevant fiscal tool for a foreign SME with people in the GBA is the individual income tax (IIT) subsidy for overseas high-end and urgently-needed talent. Under the *Notice on Preferential Individual Income Tax Policies for the Guangdong–Hong Kong–Macao Greater Bay Area* (Cai Shui [2019] No. 31) and its extension *Cai Shui [2023] No. 34, the nine Guangdong cities grant a fiscal subsidy equal to the difference between the IIT actually paid and the Hong Kong tax level, and that subsidy is exempt from IIT. In practice the effect is that the effective top burden is capped at roughly 15% for qualifying individuals. The policy currently runs through 31 December 2027. Eligibility is determined by Guangdong and the respective city governments, and the subsidy is capped per taxpayer per year (for example, Guangdong sets a maximum of RMB 5 million per taxpayer per year under local implementing rules).
For the enterprise itself, market access follows the national negative list for foreign investment (the 2024 version cut nationwide restrictions to 29 items, with manufacturing fully opened), and inside the GBA’s pilot cooperation zones — Qianhai (Shenzhen–HK modern services), Nansha (Guangzhou), Hengqin (Guangdong–Macao) and the HK–SZ Loop (Heung Yuen Wai / Futian) — additional openness and facilitation apply. Foreign SMEs in advanced manufacturing, cross-border services, technology and healthcare should check both the national list and the local pilot catalogue, because the zone’s more liberal rule applies within the zone.
Practical landing paths
Most foreign SMEs enter the GBA through one of two doors. Door one is Hong Kong: incorporate a Hong Kong company to hold IP and regional contracts, then set up a Wholly Foreign-Owned Enterprise (WFOE) or representative structure in a GBA mainland city for production and sales. Door two is a direct mainland WFOE in one of the cooperation zones, which can offer sector-specific opening and administrative convenience. The Qianhai, Nansha and Hengqin plans each “misalign” their positioning — Qianhai leans modern services, Nansha leans comprehensive cooperation and shipping, Hengqin leans Macao diversification — so the choice of zone should follow the business model rather than a generic “GBA” label. Guangdong has also built a network of youth innovation-and-entrepreneurship bases (around a dozen), through which HK/Macao and overseas young founders can access incubation, subsidies and local procurement links.
What to do next
- Confirm whether your target sector is off the national foreign-investment negative list, then re-check the specific Qianhai / Nansha / Hengqin pilot catalogue for any extra opening.
- If you will employ foreign or HK/Macao senior staff in the nine cities, model the IIT subsidy (Cai Shui [2019] No. 31 / [2023] No. 34) early — it can materially lower your fully-loaded employment cost through 2027.
- Choose a landing zone by fit: Qianhai for services, Nansha for trade/shipping, Hengqin for Macao-linked activity, the Loop for R&D.
- Use Hong Kong as your regional treasury, IP and contract hub where group structure allows, while operating a Mainland WFOE for substance.
- Plan customs and logistics around the cross-boundary lock and streamlined port models if you move goods between HK/Macao and the mainland.
- Engage a local adviser on professional-qualification recognition before relocating key technical or professional staff.
Sources
- Outline Development Plan for the Guangdong–Hong Kong–Macao Greater Bay Area (State Council Gazette)
- [Notice on Extending the GBA Individual Income Tax Preferential Policy — Cai Shui [2023] No. 34 (State Council / gov.cn)](https://www.gov.cn/zhengce/zhengceku/202309/content_6902899.htm)
- [Q&A on the GBA Individual Income Tax Preferential Policy — Cai Shui [2019] No. 31 (State Taxation Administration)](https://www.chinatax.gov.cn/n810341/n810760/c4148914/content.html)
- NDRC: Deepening Guangdong–Hong Kong–Macao cooperation to advance GBA development
Related reading
- see also: Lingang & free trade zones playbook
- see also: Hainan talent & tax measures expanded
- see also: Tax treaty benefits for foreign investors
粤港澳大湾区：中小企业的机遇
概述
粤港澳大湾区（GBA）是一项城市群战略，将香港、澳门以及广东省九个城市——广州、深圳、珠海、佛山、惠州、东莞、中山、江门、肇庆——整合为统一的经济空间。根据《粤港澳大湾区发展规划纲要》（中共中央、国务院于 2019 年 2 月印发），大湾区总面积约 5.6 万平方公里，2017 年末总人口约 7000 万，经济总量约 10 万亿元人民币（2018 年约合 1.6 万亿美元）。对外国中小企业（SME）而言，大湾区不是单一市场，而是一个分层平台：香港是国际金融与服务枢纽，澳门是旅游与多元化基地，广东九市则是庞大的先进制造业与创新腹地。
本文以实务视角说明，区域一体化对外国中小企业意味着什么、货物与人才如何在”三个关税区、三种法律体系”之间流动，以及外国投资的中小企业可以实际运用的激励措施与市场准入渠道。
一体化框架及其对中小企业的意义
大湾区最鲜明的特征是政策文件所称的”一个国家、两种制度、三个关税区、三种法律体系”。香港、澳门是独立的关税区，拥有各自的货币、税制与普通法/大陆法传统；广东九市则处于内地关境与法律体系之内。因此，一体化并非合并三套制度，而是建设”规则衔接、机制对接”，在各自保留自身制度的前提下，让生产要素更高效流动。
对中小企业而言，这带来两方面后果。其一，大湾区为外国企业用香港作为区域控股、融资与知识产权基地、同时在内地一侧开展生产与销售，提供了低摩擦路径。其二，一体化议程主动为中小参与者降低摩擦：简化海关模式、互认职业资格，以及一系列旨在吸引境外（含外国、港澳及台湾）高端与紧缺人才的财政补贴。纲要提出的战略定位有五：充满活力的世界级城市群、具有全球影响力的国际科技创新中心、”一带一路”建设的重要支撑、内地与港澳深度合作示范区、宜居宜业宜游的优质生活圈。
货物与人才的跨境流动
货物：内地与香港已在大湾区全面实施”跨境一锁”模式，与澳门的”跨境一锁”业务也已启动；口岸清关进一步简化，港珠澳大桥珠澳口岸实行”合作查验、一次放行”，香港西九龙站实行”一地两检”。对中小企业而言，这意味着跨境货运时间更短、物流成本更低。
人才：跨境人员流动是知识密集型中小企业最实际的红利。内地一侧已在建筑工程、医疗、教育、法律、会计、旅游等八个重点领域实现对港澳职业资格的认可或便利安排。在九市工作生活的港澳居民，在符合条件时可购房、子女就地入学并参加内地社会保险。对于外国（非华裔）员工，大湾区的才政策叠加在国家的签证与工作许可规则之上，多个城市为科研创新领军人才开设”绿色通道”。
资金：金融方面，本外币合一的跨境资金池业务已落地，跨境理财通试点稳步推进，跨境车险”三地保单、一地购买”开始试点。这些对具备跨境财资需求的中小企业最有价值，但仍受内地资本项目与行为监管规则约束。
面向外国中小企业的激励与市场准入
对外国中小企业在大湾区配置人员而言，最相关的财政工具是境外高端紧缺人才的个人所得税补贴。依据《关于粤港澳大湾区个人所得税优惠政策的通知》（财税〔2019〕31 号）及其延续文件《关于延续实施粤港澳大湾区个人所得税优惠政策的通知》（财税〔2023〕34 号），珠三角九市按内地与香港个人所得税税负差额给予补贴，且该补贴免征个人所得税；实务中，符合条件的个人实际税负被限制在约 15% 的上限。该政策目前执行至 2027 年 12 月 31 日。资格由广东省及相应城市认定，并设单人年度补贴上限（例如广东省地方细则规定每名纳税人每年最高 500 万元）。
就企业本体而言，市场准入遵循国家外资准入负面清单（2024 年版将全国限制措施压减至 29 条，制造业全面放开）；在大湾区的试点合作区——前海（深港现代服务业）、南沙（广州）、横琴（粤澳）以及河套（深港科技创新合作区）——另有进一步开放与便利。从事先进制造业、跨境服务、科技与医疗的外国中小企业，应同时对照全国负面清单与对应地方试点目录，因为区内更宽松的规则仅在区内适用。
实操落地路径
多数外国中小企业通过两扇门进入大湾区。第一扇门是香港：设立香港公司持有知识产权与区域合同，再在内地大湾区城市设立外商独资企业（WFOE）或代表机构从事生产与销售。第二扇门是在某个合作区内直接设立内地 WFOE，可享受特定行业的开放与行政便利。前海、南沙、横琴各自”错位”定位——前海侧重现代服务业，南沙侧重综合合作与航运，横琴侧重澳门经济多元——因此选址应跟随商业模式，而非笼统套用”大湾区”标签。广东还建成十余个港澳青年创新创业基地，港澳及海外青年创始人可借此获得孵化、补贴与本地采购对接。
下一步建议
- 先确认目标行业是否在全国外资负面清单之外，再核对前海/南沙/横琴的具体试点目录，看是否有额外开放。
- 若将在九市雇佣外国或港澳高级管理人员，尽早测算个人所得税补贴（财税〔2019〕31 号 / 〔2023〕34 号）的效益——在 2027 年前可显著降低用工综合成本。
- 按契合度选点：服务业看前海，贸易航运看南沙，涉澳业务看横琴，研发看河套。
- 在集团架构允许时，以香港作为区域财资、知识产权与合同枢纽，同时以内地 WFOE 承载实质经营。
- 若需在港澳与内地间运输货物，应围绕”跨境一锁”与简化口岸模式规划海关与物流。
- 在搬迁关键技术或专业人员前，先就职业资格互认事项咨询本地顾问。
来源
- 《粤港澳大湾区发展规划纲要》（国务院公报）
- 《关于延续实施粤港澳大湾区个人所得税优惠政策的通知》财税〔2023〕34 号（中国政府网）
- 粤港澳大湾区个人所得税优惠政策答记者问——财税〔2019〕31 号（国家税务总局）
- 国家发展改革委：深化粤港澳合作 推进大湾区建设
相关阅读
- see also: 临港新片区与自贸区实操手册
- see also: 海南人才与税收措施扩围
- see also: 外商投资企业的税收协定待遇