An increasing number of Hong Kong-funded enterprises are moving their businesses to Qianhai as attracted by the favorable business environment and development potential in the free trade area.
Ho & Partners Architects Engineers & Development Consultants Ltd., a Hong Kong architectural firm set up its Shenzhen office in Luohu District over 20 years ago, relocated to Qianhai in November 2019.
Staffers with Ho & Partners Architects Engineers & Development Consultants Ltd. work at their office at Qianhai Shimao Tower. Photos courtesy of Lu Li
“The rapid development and the business-friendly environment of Qianhai attracted our attention”, said Zhou Yanlin, director assistant of Ho & Partners, adding that Qianhai as the future CBD of the Guangdong-Hong Kong-Macao Greater Bay Area is another plus.
Hong Kong-funded Team Concepts moved in the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub) in 2015.
The startup uses advanced AIoT (artificial intelligence + Internet of things) technology to provide smart software and hardware solutions to its clients, mostly publicly listed companies. Team Concepts has achieved an annual growth rate of up to 300 percent over the past five years and has had two rounds of financing.
Yiu Chun-pong, founder of Team Concepts, said that the E-hub is the best incubator on the Chinese mainland for him to start his business considering the preferential policies in Qianhai.
Yiu Chun-pong, founder of Team Concepts, demonstrates his company's product
According to a Qianhai policy that offers office rent subsidies to Qianhai-based enterprises, up to 50 percent of Ho & Partners’ office rent will be subsidized by the Qianhai authority, meaning that the company can save up to 2.5 million yuan in office rent for three years, said Li Yingying, business manager of Ho & Partners.
Team Concepts is eligible for Qianhai’s startup funds and subsidies for office rent and property management fees.
Qianhai officials visit the companies on a regular basis to listen to their suggestions before working out policies catered to their actual needs for development.
Zhou and Yiu speak highly of the practice.
Official figures show that Qianhai has been home to 12,292 Hong Kong-funded enterprises with a total registered capital of 1.3 trillion yuan (US$183.7 billion) as of May.