Han said more favorable tax policies would be given to Hong Kong and Macao residents.

Young people in Hong Kong and Macao should be encouraged to work and start businesses in the Greater Bay Area, he said, adding that a batch of innovative and venture bases should be established for them.

The government will provide grants and subsidies for young people from Hong Kong and Macao who start businesses in Guangdong, and will also select and fund a batch of promising startup projects, he added.

The bay area consists of the Hong Kong Special Administrative Region, the Macao Special Administrative Region, as well as nine cities in Guangdong Province -- Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing.

Covering 56,000 square kilometers, the bay area had a combined population of about 70 million at the end of 2017 and its GDP reached around 10 trillion yuan in 2017.

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