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GoGBA event helps businesses seize Qianhai opportunities

Logistics & Trans...Trade

A seminar explored business opportunities in Qianhai and fostered Hong Kong-Shenzhen cooperation.


The development plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone announced by China’s National Development and Reform Commission at the end of last year aims to accelerate Hong Kong-Shenzhen cooperation and foster the development of diverse industries, including finance, professional services and legal affairs, to facilitate a wide array of new business opportunities.

The seminar – co-organised by the Guangdong-Hong Kong-Macao Greater Bay Area Development Office of the Hong Kong SAR Government, Hong Kong Trade Development Council (HKTDC) and Shenzhen Qianhai Authority – discussed the latest developments of the Zone and business prospects for Hong Kong enterprises.

One-on-one consultation sessions were arranged on-site to help Hong Kong and Shenzhen businesses connect and explore opportunities in Qianhai, one of the fastest-growing regions in China.

Dr. Patrick Lau, Deputy Executive Director of HKTDC, highlighted the two-way collaborative relationship between Qianhai and Hong Kong. “Qianhai is reliant on Hong Kong and continues to extend preferential policies and incentives to enable Hong Kong businesses to grow and expand in the region. Hong Kong will continue to work closely with Qianhai to promote cooperation in six major sectors, namely finance, logistics, technology, professional services, trade and the marine industry.”

Maisie Chan, Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, emphasised that, with the support of the Central Government, the Hong Kong and Shenzhen governments have paved the way for Hong Kong professional services to tap the Qianhai market, attracting some 10,000 Hong Kong-funded enterprises.

“Capitalising on Hong Kong's strengths to serve the country's needs, Hong Kong will continue to give full play to its strengths and closely cooperate with Shenzhen to help Qianhai continue to deepen the opening up and innovation of the financial industry, raising the level of internationalisation of the professional service sector and broadening the opening up in areas, such as legal services and more.”

According to Wen Ping, Deputy Director General of Qianhai Authority, and Wu Huan Liang, Deputy Director of Qianhai Enterprise and Talent Service Center, the development of Qianhai is dependent on Hong Kong’s participation.

The more than 1,000 newly registered Hong Kong-funded enterprises, coupled with the fact that Hong Kong-funded enterprises account for 95.7% of the area’s cross-border investments, attest to Hong Kong’s important role in Qianhai’s rise.

William Huang, Managing Partner of EY China South, pointed out that the new measures help Hong Kong leverage its advantages in professional services and facilitate cross-border practice of professionals, thus helping professional service organisations access new markets.

Dr Samson Tam, Director of Hong Kong Science and Technology Parks Corporation and Founder of Shenzhen ZebraS Technology Acceleration Platform, said that Qianhai’s preferential policies and financial support strengthen the start-up ecosystem, contributing to the growth of start-ups with more robust customer-industry matching opportunities and support from various funds.

Qianhai’s GDP totalled CNY246.4 billion in 2023, an increase of 15% year-on-year, with modern service industries accounting for 52.5%. Total import and export volume amounted to CNY494 billion, a 6.7% increase.

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