The Qianhai cooperation zone in Shenzhen attracted more than half of the city's utilized foreign direct investment in the first 11 months of 2025, authorities revealed at a major regional conference on January 16. The data underscores Qianhai's rising prominence as a testing ground for financial innovation and cross-border integration in the Greater Bay Area.
The figures were highlighted during the "China Conference: Greater Bay Area 2026," organized by the South China Morning Post (SCMP) and sponsored by Bank of Communications (Hong Kong). The event brought together over 400 policymakers, financial leaders, and technology experts in Qianhai to explore how AI and finance can drive high-quality growth and foster deeper collaboration between Shenzhen and Hong Kong.
Qu Hongbin, Chief Economic and Trade Expert of the Qianhai Authority, told attendees that the zone has become a focal point for foreign capital and technological experimentation. He cited platforms such as the "FinTech Connect" initiative, launched with the Hong Kong Monetary Authority, which enables cross-border data pilots and blockchain applications. One recent milestone includes the successful trial of a cross-border corporate credit reference system between Chinese and Hong Kong banks.
Hong Kong's role as an international financial hub was also emphasized. The city remains the world's largest offshore RMB business center, handling over 75% of global offshore RMB payment transactions. Officials reiterated that closer synergy between Hong Kong's financial services and Shenzhen's technological capacity is key to the region's ambitions.
Xiao Ting, Chairman of Bank of Communications (Hong Kong), noted in his address that "finance and AI are empowering each other, creating not just incremental change but a fundamental reshaping of the industry."
Since its establishment 15 years ago, Qianhai has evolved into a strategic platform for cooperation between Shenzhen and Hong Kong. By the end of October 2025, it had attracted 455 AI-related enterprises, including 84 from Hong Kong, with combined revenue exceeding RMB 300 billion.
Reporter | Cai Minling
Photo | South China Morning Post
Editor | Wei Shen, James Campion, Shen He
