GD-HK pact to fuel Qianhai development
2010-April-20 Source: Szdaily web edition
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Qianhai development area in construction. Sun Yucheng

Qianhai has been named as one of the key development zones in the framework Agreement on Guangdong-Hong Kong Cooperation, which was signed by the two sides on April 7 in Beijing.

According to the agreement, Shenzhen and Hong Kong will set up a joint task force on developing Qianhai, which is to be turned into a regional transportation hub with the help of its "geographic advantage and Hong Kong's role as an international financial and shipping center," according to the plan.

The task force will garner advice on Qianhai's development, infrastructure and management. It will also take into account Qianhai's development in their study of the Hong Kong-Shenzhen Western Express Line.

As an experimental zone of financial cooperation between Shenzhen and Hong Kong, Qianhai will provide a platform to explore cooperation in the financial sector, said Song Ding, director of the tourism and real estate research center of the China Development Institute (Shenzhen).

Encouraged by its key role, Shenzhen's government has been drafting a policy proposal on the development of modern service industries in Qianhai, and has asked that the Central Government grant Qianhai State development zone status following the examples of Shanghai's Pudong New Zone, Tianjin's Binhai New Zone and Hengqin New Zone.

The proposal is intended to endow Qianhai with preferential financial and taxation policies.

Also with a focus on finance as its key industry, Hengqin New Zone was approved by the State Council to become a State development zone last year.

"Qianhai should go for the same status as the two zones will complement and cooperate with each other for co-development," said Wei Dazhi, director of industrial economic research center at Shenzhen University.

Prof. Zhong Jian, director of the China Economic Special Zone Research Center at Shenzhen University, recommended that the planners focus on the area's function as a center for tertiary services.

The Guangdong and Shenzhen governments are planning to establish a management bureau for cooperation between Shenzhen and Hong Kong in the development of Qianhai.

Zheng Hongjie, incumbent president of Yantian Port Group, has been proposed as the bureau's chief director and Party leader.

The framework Agreement on Guangdong-Hong Kong Cooperation covers cooperation in nine areas including trans-boundary infrastructure, modern services industries, high-tech innovation, education and training.

(Li Hao)

Editor: Miranda
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