As a major exploration of China's implementation of high-level institutional opening up, the Hengqin Guangdong Macao Deep Cooperation Zone officially implemented closure and operation at midnight on March 1. This marks a crucial step in building a new system of high-level opening up integrated with Macao, which will help enrich the practical exploration of "one country, two systems" and better promote Macao's integration into the overall development of the country. In September 2021, the Central Committee of the Communist Party of China and the State Council issued the "Overall Plan for the Construction of the Hengqin Guangdong Macao Deep Cooperation Zone", which clearly defined the implementation scope of the cooperation zone as the customs supervision area between the "first line" and "second line" of Hengqin Island, with the "first line" established between Hengqin and the Macao Special Administrative Region; Hengqin is designated as a "second line" with other areas within the customs territory of the People's Republic of China. The cooperation zone implements a tax policy of opening up the "first line" of goods and controlling the "second line", and a highly convenient policy of separate line management for personnel entry and exit. After the implementation of customs closure and operation in the Hengqin Guangdong Macao Deep Cooperation Zone, eligible goods will enter the cooperation zone through the "first line" for tax exemption, while other situations will be bonded; Entering the mainland through the "second line", import taxes are levied according to regulations, and those who meet the conditions can enjoy value-added processing without tariffs. In terms of items, personal luggage and postal items entering the cooperation zone through the "first line" are tax-free within the limits of self use, reasonable quantity, and compliance with relevant regulations. For "second line" entry into the mainland, relevant regulations applicable to imported items from Macau shall be followed for supervision and taxation. "The new policy is a significant exploration of implementing high-level institutional openness in the cooperation zone, which will effectively promote the efficient and convenient flow of logistics, people, funds, and information between Macao and Qinhuangdao. It will make Macao residents living and developing in the cooperation zone feel more similar to the living environment in Macao, and create valuable new development space for new industries and formats in Macao." said Li Weinong, Director of the Executive Committee of the Hengqin Guangdong Macao Deep Cooperation Zone. Promoting moderate and diversified economic development in Macau is the original intention of building the Hengqin Cooperation Zone. In 2009, the Central Committee of the Communist Party of China and the State Council decided to develop Hengqin, and the island with a total area of about 106 square kilometers began a butterfly transformation. After 15 years of development, Hengqin has transformed from a border island into a hot island for development. According to data from the Statistics Bureau of the Hengqin Guangdong Macao Deep Cooperation Zone, as of the end of 2023, the number of Macau residents employed and residing in the Hengqin Cooperation Zone reached 11500, a year-on-year increase of over 70%. Among them, more than 5000 Macau residents were employed in the cooperation zone, a nearly three fold year-on-year increase. (Lai Xin She)