A prominent Internet tycoon at the first Guangdong-Hong Kong-Macao Greater Bay Area Forum in Hong Kong on June 20 said that preferential policies and other incentives are needed to create a world-class technology hub to integrate Hong Kong, Macao and nine cities in Guangdong.

Ma Huateng, chairman and chief executive officer of Tencent Holdings Ltd., said that he would like to see more policy support for the Greater Bay Area plan.

“The Greater Bay Area can be the window for mainland companies to go international, and for overseas companies to enter the mainland market, but the government must show its support,” Ma said.

Tencent has seen two-thirds of its employees work and live in the Greater Bay Area. “We know fully well how much of a headache our Hong Kong staff have commuting between Hong Kong and the mainland everyday,” said Ma.

“I hope the government can help to make it easier for people to go in and out of the area, perhaps issuing ‘green cards’ to facilitate the movement of technology experts,” Ma said.

Ma said talents in Hong Kong and Macao still have to count the days to avoid staying on the mainland for more than 180 days within a year. “Otherwise, they would be taxed at the higher mainland rate,” he explained. The mainland’s personal income tax rate is capped at 45 percent, compared with 15 percent in Hong Kong.

Ma said closer regional cooperation would provide a platform for the next generation of entrepreneurs in Guangdong, encompassing Hong Kong and Macao. (SD News)