Celebrating A Year Of Innovation: Qianhai’s Path To A Brighter Future 

KUALA LUMPUR, Dec 20 (Bernama) -- The Overall Development Plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Qianhai Plan) has marked its first anniversary since its release, showing significant progress in reform, innovation, and international integration.

Over the past year, Qianhai has advanced as a pilot platform for comprehensive reform and innovation, a high-level portal for international openness, a leading area for deep integration between Shenzhen and Hong Kong, and a hub for high-quality development of modern service industries, driven by a more dynamic momentum of growth.

Qianhai's ongoing reforms and expansion of open policies have been key to its success. For the third consecutive year, it topped the institutional innovation index among China’s free trade pilot zones. Since the beginning of this year, Qianhai has launched 47 new innovations, bringing the total to 882.

Qianhai has become one of China’s fastest-growing and most open regions, with its import and export value of the Qianhai-Shekou area of the China (Guangdong) Pilot Free Trade Zone reaching a record 448.1 billion Chinese yuan in the first 10 months of 2024, representing a 58.3 per cent increase year-on-year.

According to a statement, the Qianhai Plan has also established the region as a key area for deepening the integration between Shenzhen and Hong Kong.

The Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub), a symbol of youth ambition, has supported 1,374 startup teams, including 955 from Hong Kong SAR, Macao SAR, and overseas, as of early December this year. Currently, more than 9,000 Hong Kong-funded enterprises are now registered in Qianhai.

Qianhai’s role as a financial cooperation hub is also highlighted by its growing significance in strengthening Hong Kong’s position as a global financial centre. Professionals, including those from Holman Fenwick Willan LLP, have praised the region’s environment and efficient transport links, which facilitate seamless connections between Hong Kong and Qianhai.

Acting as a hub for the high-quality development of modern service industries is Qianhai's strategic positioning and source of competitiveness. Over the past year, Qianhai has delivered remarkable achievements and a promising future is expected.

-- BERNAMA