Insurance Arrangements of Macao Single-plate Vehicles Entering into the Hengqin New Area

The press conference of “Macao Motor Vehicles entering and leaving Hengqin New Area” was held in Hengqin, Zhuhai today, and the related arrangements were announced. In accordance with Mainland's law, cross-border motor vehicles must be covered by "Motor Vehicle Traffic Accident Liability Insurance" before entering the Hengqin New Area. Under the co-ordination and promotion by the Monetary Authority of Macao and according to the cooperation agreement between the relevant insurance companies in Guangdong and Macao to provide cross-border motor vehicle insurance services, the Macao single-plate car owners can purchase the said insurance through local insurance companies. At present, local insurance companies that have set up co-operative arrangements with Mainland insurance companies are China Taiping Insurance (Macau) Company Limited and Asia Insurance Company Limited.