Qianhai Embraces a Brighter Future on First Anniversary of Qianhai Plan

SHENZHEN, China, Dec. 19, 2024 /Xinhua-AsiaNet/–

The Overall Development Plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (hereinafter referred to as the “Qianhai Plan”) has marked its first anniversary since its release. Over the past year, Qianhai has stepped up efforts to build a pilot platform for comprehensive reform and innovation, a high-level portal for international openness, a leading area for deep integration between Shenzhen and Hong Kong, and a hub for the high-quality development of modern service industries, driven by a more dynamic momentum of growth.

Deepening reform and expanding opening-up are both Qianhai’s unique advantages and important missions. Statistics released by the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone shown that, for three consecutive years, Qianhai has been ranked No.1 in terms of the institutional innovation index of China’s free trade pilot zones. Since the beginning of this year, Qianhai has launched 47 new institutional innovations, bringing the total to 882.

Speaking of institutional innovation, Kevin Qian, Chinese Principal of Harrow Shenzhen, shared his insights. “Since the Qianhai branch of Harrow International School was established, we have enjoyed numerous support policies, such as approval for land use, access to hardware facilities, and permission to expand enrollment. These policies enable us to better meet the education demands of high-caliber talent families. With the preferential policies and convenient services, the school can attract more excellent foreign managers and teachers,” he said.

Qianhai has emerged as one of the fastest-growing and most open regions in China in the new era. In the first 10 months of 2024, the import and export value of the Qianhai-Shekou area of the China (Guangdong) Pilot Free Trade Zone reached 448.1 billion yuan, representing a 58.3% year-on-year increase and a record high.

The Qianhai Plan has endowed Qianhai with a new strategic role as a “leading area for deep integration between Shenzhen and Hong Kong”. When viewed from above, the building of the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub) resembles the traditional Chinese character for “dream”, symbolizing the dream-chasing journey of youth from places such as Shenzhen and Hong Kong. As of early December 2024, the E-hub has incubated a total of 1,374 startup teams, including 955 from Hong Kong SAR, Macao SAR, and overseas countries. Today, more than 9,000 Hong Kong-funded enterprises are registered here.

“As the forefront of Shenzhen’s reform, Qianhai has become a land of opportunity for strengthening financial cooperation between Shenzhen and Hong Kong and supporting Hong Kong in consolidating its status as an international financial center,” an executive of East Asia Qianhai Securities Co., Ltd. said in an interview.

Sun Jinjun, Chief Representative of the Holman Fenwick Willan LLP Shenzhen Representative Office, was impressed by the professional services that he received when setting up the office. “I often have colleagues from other countries and both Chinese and foreign clients attending meetings at our Qianhai office, and they often praise the office environment,” he said. He also spoke highly of the increasingly convenient transportation here. “Many of my colleagues travel between Hong Kong and Qianhai on the same day, and the commute is quite convenient,” he added.

Acting as a hub for the high-quality development of modern service industries is Qianhai’s strategic positioning and source of competitiveness. Over the past year, Qianhai has delivered remarkable achievements and a promising future is expected.