Shenzhen kicked off 21 major projects involving 74.9 billion yuan (US$11.1 billion) in the Qianhai area and the Shenzhen-Hong Kong Science Innovation Zone on Wednesday.
The projects in Qianhai include the construction of the headquarters of WeBank, a subsidiary of Shenzhen-based Internet giant Tencent, at an investment of 3.8 billion yuan, E-hub Phase II, the headquarters of Hong Kong Kingboard Holdings, Qianhai Convention Center and Guiwan Park. The 10 projects in Qianhai will need a total investment of 12 billion yuan.
WeBank, set up in December 2014, is one of the country’s first batch of private commercial banks. WeBank is known for its online focus that utilizes facial recognition security software.
The projects at the Shenzhen-Hong Kong Science Innovation Zone include infrastructures, science research facilities and incubators.
The Shenzhen part of the zone consists of an area north of the Loop called Zone C and the Futian Bonded Zone. The zone will also include Zone A of the Lok Ma Chau Loop area under Hong Kong’s administration.
The 11 projects in the zone will cost 34.4 billion yuan. They include the China (Southern) IPR Operation Center, the relocation of Nanhua village and the establishment of research institutes.
The Guangtian Shenzhen-Hong Kong International Science Park is located in the Futian Bonded Zone. The park is comprised of seven buildings with floor space of 230,000 square meters. The park will be put into operation this June and introduce research-type enterprises and research projects.
Hong Kong will participate in three projects including the Guangdong Southern Quantum Science and Technology Synergy Innovation Research Institute and the innovation project of the Hong Kong University of Science and Technology.