Qianhai’s Appeal to Global Investment Further Enhanced

The appeal of Qianhai, Shenzhen to global investment is seeing further advancements. During the 2023 Qianhai Global Investment Promotion and Talent Conference, PricewaterhouseCoopers unveiled the Annual Doing Business Blue Paper for Qianhai Cooperation Zone 2023 (the "Blue Paper"), which pointed out Qianhai's exceptional overall business environment and the significant progress made in the Shenzhen-Hong Kong integration, essentially achieving the goal of "the business environment being globally competitive by 2025" set in the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the "Qianhai Plan").

The Blue Paper highlighted Qianhai's advancements in various aspects of the business environment. For example, regulations of the Shenzhen-Hong Kong Modern Service Industry Cooperation Zone on investor protection have been introduced to enhance the protection of investors' rights and interests. The Shenzhen-Hong Kong International Legal Affairs Zone has been created, the Guangdong-Hong Kong-Macao Greater Bay Area International Arbitration Center has been established, and seven Guangdong-Hong Kong-Macao associations of law firms have been founded in the Qianhai Cooperation Zone. The General Administration of Customs has issued 18 measures to facilitate the coordination of inspection and supervision rules between Shenzhen and Hong Kong. This move promotes the port combination of the Guangdong-Hong Kong-Macao Greater Bay Area to "operate as a single port" and implement "one inspection and one certification for all access." According to the Blue Paper, Qianhai will build a business environment that prioritizes market orientation, the rule of law, and internationalization, moving faster to reach the world-class level.

In order to continuously promote a high-quality business environment, Qianhai empowers talent introduction to furnish intellectual support for global enterprises, according to Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

The Qianhai Administration Bureau, in partnership with Elsevier, the University of Hong Kong (HKU), the China Europe International Business School, and other organizations, has initiated the Global Scientists Sabbatical Leave Program. The program aims at the key areas and strategic directions of global and national innovation development and creates an innovative platform where top scientists can exchange academic views and share frontier information. In this way, it encourages many scientists with global influence and expertise in core technologies in key areas to set up R&D centers in Qianhai and launch industrial transformation for their projects.

Since the release of the Qianhai Plan, Qianhai has increased collaboration with Hong Kong's higher education institutions to establish new R&D facilities and other international talent vehicles and platforms in various forms in the Qianhai Cooperation Zone.

Meanwhile, Qianhai has released In Qianhai, a one-stop website for comprehensive talent services, which provides internationalized services throughout the ecosystem and chain for talented individuals relocating to China. It offers scenario-based online service functions for employment, entrepreneurship, living, and learning support, among other modules.

Furthermore, to provide global enterprises with a larger development platform, Qianhai has expanded its original Six Agglomerations (venture capital, natural gas trade, financial leasing, cross-border e-commerce, tax-related services, and high-end thinktanks) and launched the New Six Agglomerations: artificial intelligence, supply chains, integrated circuits, offshore engineering equipment, shipping services, and international consulting. Together, they create a new "6+6" spatial pattern of industrial agglomerations.

Analysts said that the multi-dimensional support will bring Qianhai's business environment to a higher level and make Qianhai more appealing to global enterprises.

Source: Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone