KUALA LUMPUR, Sept 3 (Bernama) -- Over the past three years, Qianhai, a hub for high-level opening-up, has been forging ahead with reform and innovation and delivering tangible results, noted by the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone recently.
Through reform and opening-up, Qianhai aims to become a new engine for the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Shenzhen Pilot Demonstration Zone. Institutional innovation is one of Qianhai's distinctive features.
To date, Qianhai has gradually established the "Qianhai Model" for institutional innovation in key areas such as investment facilitation, trade facilitation, financial openness and innovation, and legal innovation, according to a statement.
A string of innovative measures have been launched, such as the administrative confirmation system for business registration, one integrated licence, a suspension registration system for businesses, and the Qianhai e-Services Hong Kong-Macao Station.
Latest statistics show that Qianhai has launched 241 new institutional innovation achievements since 2021, bringing the total to 835, with 36 of these being promoted nationwide, making a cumulative total of 94, and according to Sun Yat-sen University’s institutional innovation index of China's free trade pilot zones, Qianhai has ranked first for three consecutive years.
Innovations in the financial field are viewed as one of the institutional innovations with the most typical Qianhai characteristics.
In recent years, a series of financial innovation policies have been implemented here, covering aspects such as finance for people's livelihood, the interconnectivity of the financial market, the development of modern finance industries, the facilitation of cross-border trade and investment, and enhanced cooperation in financial regulation.
Qianhai's institutional innovation achievements in key areas such as law, finance, and government affairs have demonstrated its advantages in institutional innovation.
This innovation not only helps Qianhai accelerate its comprehensive deepening of reforms but also provides new momentum for Qianhai to advance the comprehensive deepening of reforms in the Greater Bay Area and even China.
-- BERNAMA
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