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Ⅰ. The Macro-environment of the GBA

choice of applicable law and dispute resolution, and help build a market-oriented and law-based international

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business environment in the GBA. As of 2023, more than a hundred arbitrators from Hong Kong and Macao
have been employed by the GBA International Arbitration Centre, promoting the implementation of the measure

to “allow Hong Kong-invested enterprises to adopt Hong Kong law and choose for arbitration to be seated in
Hong Kong”, while also improving the level of legal services opening up in Qianhai. Among the 14 Guangdong-

Hong Kong-Macao partnership associations nationwide, 9 of them have set up offices in Qianhai and can provide
a full range of services including judicial services, mediation, arbitration and notarization for enterprises and

residents. 15
The GDP data of the Hengqin region is also very impressive, with its GDP growth rate significantly higher

than the average of the country, Guangdong and Zhuhai, reaching RMB 45.46 billion, an increase of 8.5%. Its
import and export volume of foreign trade reached RMB 31.47 billion, an increase of 53.3%. From January to

December 2021, fixed assets investment increased by 12.9% year on year. In the past two years, the Guangdong-
Macao In-depth Cooperation Zone has focused on the “four new” strategic positionings, vigorously developing

the “four major industries” of technology research and development and high-end manufacturing, Macao
brand industries such as traditional Chinese medicine, cultural tourism and trade and commerce derived from

conventions and exhibitions, and modern financial industry. As of the first half of 2023, the revenue of the “four
new” industries above in the Hengqin Cooperation Zone reached nearly RMB 8 billion, a year-on-year increase

of 29.9%. As of August, there were 5,763 Macao funded enterprises in the Cooperation Zone, an increase of
23.5% compared to the period before listing. Since February 2023, in order to better build a market access
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system and market environment to promote the moderate and diversified development of Macao’s economy, a
series of heavy-weight policies such as the “Regulations for Promoting the Development of Guangdong-Macao

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In-Depth Cooperation Zone in Hengqin” and “Opinions on Easing Special Measures for Market Access in

14 Actively strive for the implementation of Hong Kong arbitration for Hong Kong-invested enterprises in the Bay Area, Hong Kong
Government News Network, (November 23, 2021),
https://sc.news.gov.hk/TuniS/www.news.gov.hk/chi/2021/11/20211123/20211123_130055_221.html
15 Guangdong Public Legal Service, in Guangdong Legal Service Website (March 13, 2023),
https://gd.12348.gov.cn/jsp/web/legalserviceres/legalserviceorg.jsp?fwOrgType=100&flag=org.
16 The Hengqin Cooperation Zone’s industry, academic and research model transforms more scientific research achievements, and
Macanese and Macao Enterprises Have Wider Development Space, 21 Century Business Herald (November 9, 2023),
st
https://www.163.com/dy/article/IJ48JU9G05199NPP.html
17 Regulations for Promoting the development of Guangdong-Macao In-Depth Cooperation Zone in Hengqin, InvestHK (February 8, 2023),
https://gba.investhk.gov.hk/en/supporting-policies/regulations-promoting-development-guangdong-macao-depth-cooperation-zone-hengqin/

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