Five years after its expansion, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is celebrating a new chapter in institutional opening-up, with regional GDP and trade nearly doubling, according to the Authority of Qianhai. The announcements come as the zone marks the fifth anniversary of the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone on September 6, just days after its 16th anniversary on August 26.
Since the expansion in 2021, Qianhai's regional GDP has grown from 175.57 billion yuan to 331.81 billion yuan, while total imports and exports have risen from 378.05 billion yuan to 757.43 billion yuan, both figures nearly doubling or more. These numbers underscore the scale of institutional innovation that has been central to Qianhai's development. As a frontline of China's opening-up, Qianhai has introduced and refined policies, with 111 institutional innovation outcomes now replicated and promoted nationwide. The General Administration of Customs has introduced two rounds of dedicated support policies to address challenges facing Qianhai's development, including a pioneering customs model featuring 'direct access at the first line and smart connected supervision.' This model allows goods to be directly released at the port, with declaration and inspection after arrival at the comprehensive bonded zone, reducing the number of required customs declaration items from dozens to just over ten.
Shenzhen-Hong Kong cooperation has also deepened visibly. The number of Hong Kong-funded enterprises has grown from more than 8,000 in 2021 to over 11,000 today. Technology commercialization platforms established by five Hong Kong universities have begun operations in Qianhai, incubating 193 projects. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, noted the increasing influx of people from Hong Kong. 'There's a saying in Shenzhen: once you come, you're a Shenzhener. I felt that sense of belonging from my very first day,' he said. 'Qianhai has created an environment where Hong Kong and Shenzhen are deeply intertwined. Even while living and working in Qianhai, you can still feel the atmosphere of Hong Kong, so I had no difficulty settling in.'
Jacqueline Ho, CEO of Hong Kong-funded sci-tech innovation company Synovate Technologies, highlighted the benefits for businesses. The company set up in Qianhai in 2019 and has leveraged ongoing talent recruitment services. 'Qianhai has helped us connect with upstream and downstream partners such as Siemens, allowing us to establish a foothold in the hard-tech sector in a short time,' she said. Synovate has obtained around 50 independent intellectual property rights and was named to the Forbes China Emerging Tech T30&30 Selection this year. Qianhai is now home to 532 key AI enterprises, including SmartMore Information Technology, Pony.ai, and Fengyi Technology.
The zone's international reach is also expanding. Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, pointed to the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation at the end of July as a notable sign. The center is the only national-level Internet exchange center in South China. In five years, it has served more than 270 enterprises. Its Shenzhen-Hong Kong Cross-Boundary Data Validation Platform has helped mainland SMEs secure more than HK$260 million in financing in Hong Kong. The secure cross-border data channel has benefited more than 300,000 Hong Kong residents, making it easier to transfer medical records after treatment in Shenzhen.
These developments reflect Qianhai's approach to turning institutional differences into new opportunities and translating rule alignment into practice. 'Qianhai, Pulse with the World' is more than a city slogan; it is a vivid testament to five years of reform and opening-up in this dynamic part of Shenzhen.
