Group 1 - The tax incentives in the Hengqin Guangdong-Macao Deep Cooperation Zone are showing positive effects, with a 52% year-on-year increase in the number of enterprises benefiting from a 15% corporate income tax rate in 2024, and a 2.81% increase in tax reductions [1] - Over 1,500 Macao residents have benefited from personal income tax incentives, with a total tax reduction exceeding 70 million yuan, indicating a continuous increase in the number of beneficiaries and tax refunds [1] - The number of Macao residents living and working in the cooperation zone has reached 28,000 by the end of August 2025, reflecting accelerated integration of livelihoods between Hengqin and Macao [1] Group 2 - The cooperation zone's economic activity is robust, with a 17.74% year-on-year increase in total invoiced amounts from enterprises from January to August 2025, and a 6.33% increase in the number of invoicing entities [2] - The "Four New" industries account for over 40% of the invoiced amounts, with significant growth in manufacturing (31.18%), information software services (31.47%), finance (9.71%), and health and social work (37.06%) [2] - The implementation of tax rule alignment mechanisms has deepened, with 18 tax-related alignment items established, and 55 tax professionals from Hong Kong and Macao obtaining practice qualifications in Hengqin [2]

Economic Growth - Macau's GDP for Q2 2025 reached 100.38 billion MOP, showing a year-on-year growth of 5.1%, despite a 1.3% decline in Q1, resulting in a 1.8% growth for the first half of the year [1] - The tourism sector is a key driver of Macau's economic recovery, supported by various central government policies [2][3] Tourism Recovery - The number of inbound tourists to Macau exceeded 19.21 million in the first half of the year, marking a 14.9% increase year-on-year, with significant growth from Zhuhai (57.0%) and the Greater Bay Area [2] - The "Tourism+" initiative has diversified tourism offerings, attracting a younger and more family-oriented demographic [3] Cultural Integration - The successful application for UNESCO World Heritage status for Macau's historical district has enhanced cultural tourism, with events like the International Culinary City Carnival promoting local culture [4][5] - Various cultural events and festivals are continuously held, contributing to Macau's reputation as a "City of Events" and enhancing the tourism environment [6] Investment and Development - The development of the Hengqin Guangdong-Macau Deep Cooperation Zone is expected to attract more investment and talent, supporting Macau's economic diversification [7] - In the first five months of the year, the cooperation zone saw a 15.91% increase in VAT invoices, indicating strong growth in sectors like manufacturing and information services [7] Government Initiatives - The new government has outlined major projects aimed at long-term economic development, reinforcing confidence in Macau's stable growth trajectory [8]

Group 1 - The core viewpoint emphasizes that the service industry has become a key engine for high-quality regional economic development and stable GDP growth amid a deep adjustment in the global economic landscape and accelerated industrial upgrading [1] - In the first quarter, the revenue of the service industry in Jintan District reached 1.651 billion yuan, a year-on-year increase of 20.2%, while the revenue included in the accounting for the service industry was 1.578 billion yuan, growing by 23.2%, ranking first in Changzhou City [1] - Jintan District has implemented a series of effective measures to promote the development of modern service industries, aiming to integrate advanced manufacturing with modern services and establish a high-end, digital, and integrated modern service system by 2025 [1] Group 2 - To create a collaborative development model of "leading enterprises + service industry ecosystem," Jintan District has organized a salon focused on empowering leading enterprises and servicing the new energy industry chain [2] - Jintan District has developed competitive industrial clusters in power batteries, solar photovoltaics, and intelligent equipment, addressing the "service capability bottleneck" faced during the leap of the new energy industry [2] - The district aims to deepen the integration of industries and services, enhance the industrial ecosystem, and significantly develop productive services to provide stronger and more sustainable support for economic growth [2]