Qianhai - an area for deepening cooperation between Shenzhen and Hong Kong
2015-June-11 Source: Newsgd.com
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The Qianhai Exhibition Hall [Photo/Will]

"Qianhai is the first choice for HK enterprises to have investment in Mainland China," said Wang Jingxia, a spokesman and liaison director of Qianhai SZ-HK Modern Service Industry Cooperation Zone.

According to Wang, until May 31 of 2015, there are above 1400 Hong Kong enterprises registered in Qianhai Area of Guangdong Free Trade Zone (GD FTZ). HK enterprises contribute one-fifth of Qianhai enterprises' total production value and one-third of Qianhai enterprises' total investment volume till now. It is said that there might have more than 2000 HK enterprises enter Qianhai by the end of 2015.

Wang further explained that Qianhai has three advantages to attract HK enterprises compared to other areas.

Above all, Qianhai has a special location that is quite close to HK and Qianhai authority provides cross-border bus service for HK people to get to Qianhai in an hour.

Besides, HK enterprises can benefit from a policy bonus on income tax. In detail, HK talents can get the fiscal subsidies from Shenzhen government for the part where the amount of tax paid on individual tax is over 15 percents.

Moreover, HK enterprises are easier to raise capital in Qianhai since there are many financial banks and institutions gather in a same area.

In addition, Wang admitted that it is hard to satisfy some overseas talents' need for supporting facilities in Qianhai now. Although Qianhai has prepared 4717 sets of apartments for talents, the demand still exceeds the real supply. In future, Qianhai will provide more accommodation room and office space for overseas enterprises.

Backgrounder of Qianhai & Shekou Area:

The total planned area of Qianhai and Shekou districts in Shenzhen are 28.2 square kilometres, among which, 15 square kilometres will be occupied by Qianhai district and 13.2 square kilometres will be occupied by Shekou district.

Capitalizing on the advantages and extensive experience in marketization, legalization and internationalization, Qianhai and Shekou area will utilize their prime locations in carrying out the 21st Century Maritime Silk Road strategy to further integrating the resources of Shenzhen and Hong Kong and gather other high-end resources from abroad. High priority will be placed on the development of financial services, modern logistics, information service, technology service, professional services, port service, shipping service and other strategic emerging services so as to facilitate the economic integration and development of Shenzhen and Hong Kong. In addition, commitment will also be made to develop Qianhai and Shekou area into the center of Asia-Pacific region in terms of manufacture-related service industry as well as an important world trade base and international hub.

(By Will)

Editor: Keane Wong
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