SZ to make every endeavor to propel Qianhai development

Shenzhen will mobilize all resources to advance the development and opening up of Qianhai to a higher level, Shenzhen Mayor Qin Weizhong said at a press conference held by the State Council Information Office in Beijing on Thursday morning.

A view of Qianhai. File photo

He joined relevant officials from the Central Government and governments of Guangdong, Hong Kong, and Macao to introduce the latest developments of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and answer questions about the Overall Development Plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Overall Development Plan), which was released by the State Council last week.

Qin said to build Qianhai into a comprehensive experimental platform for deepening reform and innovation and a high-level gateway for opening up, Shenzhen will introduce a series of reform measures in commercial system reform, relaxing market access, and promoting fair competition to create a first-class business environment that is market-oriented, law-based, and internationalized. Efforts will also be made to expand the opening up in fields such as trade, shipping, finance, and legal affairs.

The city will also strive to propel the integrated development of Shenzhen and Hong Kong to a new level, promote the planning and construction of the Hong Kong-Shenzhen Western Rail Link and Qianhai Checkpoint, implement preferential policies for corporate and individual income tax, and continuously increase the convenience for Hong Kong residents in Shenzhen related to business registration, practicing, employment, entrepreneurship, and access to public services.

Shenzhen will collaborate with Hong Kong to establish an international legal service center and an international commercial dispute resolution center, promote the establishment of an international ship registration center, and establish an innovative pilot platform for cross-border RMB businesses.

According to Qin, so far, Qianhai has taken considerable strides, with 805 institutional innovations launched, 88 of which have been rolled out nationwide. The actual use of Hong Kong investment has reached US$33.66 billion and about 600 Hong Kong entrepreneurial teams have been incubated.