Qianhai's dynamism and openness make it the perfect business environment for international enterprises

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

Nov 22, 2021, 00:26 ET

SHENZHEN, China, Nov. 22, 2021 /PRNewswire/ -- In the Qianhai Investment Annual Conference held on November 19, 2021, 30 key projects from home and abroad were signed, with 10 significant projects intended to invest in Qianhai. More and more projects have been attracted to Qianhai this year.

According to the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Plan) promulgated in September this year, the area of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone will be increased significantly from 14.92 sq km to 120.56 sq km.

Next, Qianhai will focus on fostering a world-class business environment with effective measures. With an innovation-driven development pattern, the cooperation zone will be developed into a testing ground for in-depth reform and higher-level opening-up.

The expansion of the Qianhai Cooperation Zone creates more room for the city's development and equips it with core development elements of the International Bay Area, including an airport hub, harbor hub, convention and exhibition business, modern services, for example.

Wang is the Deputy General Manager of Ledi Culture, a Hong Kong enterprise focusing on indoor amusement, with over 200 stores across China. In May this year, the company moved to Qianhai Shimao Tower, where the Qianhai Shenzhen-Hong Kong Professional Services Cluster stands. In his opinion, companies will have more opportunities for interconnected development and deepened cooperation between Hong Kong and Shenzhen.

Ledi Culture is not the only Hong Kong enterprise attracted to settle in Qianhai. According to Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, currently, over 11700 Hong Kong-invested enterprises have registered here, most of which are in modern service industries, including financial services, modern logistics, information services, technological services and professional services.

Efficient and convenient government services in Qianhai left a great impression on enterprises. It takes only about one minute to process an application to register a domestically funded company with limited liability, and the one-stop service takes care of all business registration-related affairs at the Qianhai Electronic One-stop Service Center.

"As the hub of connection between Shenzhen and Hong Kong, Qianhai is very friendly to international enterprises. It's very convenient," Tian Zenmin put it. He is the Deputy General Manager of CREPT, one of the representative signing companies at the conference.

Louis Sun, Head of the KPMG Digital Ignition Centre, one of the companies that set its Greater Bay Area branch in Qianhai, believes that Qianhai Cooperation Zone has more space for growth after the expansion. It will better connect with Hong Kong and Macao and align with international practices, which greatly benefits their business expansion in the Greater Bay Area and abroad. The number of employees has increased from 20 to over 70 in the past few months.

Sun said, "Developing in Qianhai not only can close our distance with Hong Kong in space and time, enabling us to better service our customers there, but also can attract talents from Hong Kong and Macao to join us and therefore supports the long-term development of our Hong Kong's business."

"Transparency and standardization are what Qianhai's business environment impressed me most," added Sun. According to PricewaterhouseCoopers's appraisal, if participating in the ranking as an independent economy referring to the Doing Business Report released by the World Bank Group, Qianhai's rank has risen from 51st to 22nd since 2017. It indicates that the business environment in Qianhai continues to optimize towards the world-class standard.

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