The Qianhai and Shekou area in western Shenzhen, Guangdong province, has cemented its role as a key platform for deepening Shenzhen-Hong Kong cooperation and supporting Chinese enterprises’ push to “go global”, driven by institutional innovations and preferential policies.
Celebrating its 11th anniversary on Monday, Qianhai is part of the China (Guangdong) Pilot Free Trade Zone, which also covers Nansha in Guangzhou and Hengqin in Zhuhai.
Qianhai-based artificial intelligence firm LAiPIC said it has benefited greatly from the special economic zone’s integration dividends.
“With Qianhai’s support for Shenzhen-Hong Kong integration and institutional innovation, we started from an office here and expanded to over 180 countries and regions,” said Zhong Guanlin, Hong Kong market director at LAiPIC.
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The company has attracted tech talent from Hong Kong and Macao engaged in research and development, and has set up a branch in Hong Kong to tap overseas markets.
The ability to attract Hong Kong and Macao talent is largely attributed to Qianhai’s favorable talent policies, which have broken institutional barriers to facilitate cross-boundary talent flows.
Qianhai was among the first in China to implement policies exempting Hong Kong and Macao residents from applying for employment permits on the Chinese mainland, and allowing them to enjoy the same housing provident fund benefits, including payments and withdrawals, as local residents.
Hong Kong and Macao professionals from 26 fields — including taxation, architecture and tourism — can practice in Qianhai upon registration.
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The zone has also set up the first Hong Kong talent work station in Guangdong to support the handling of 293 cross-boundary government services, including enterprise registration and taxation.
A robust legal framework provides strong safeguards for enterprises conducting cross-boundary business in Qianhai. The zone is now home to over 10 jointly operated law firms from Guangdong, Hong Kong and Macao.
The Shenzhen Qianhai Cooperation Zone People’s Court has heard 269 cases applying extraterritorial laws, the highest number nationwide. Hong Kong mediators have participated in 519 mediation cases, of which 216 were successfully resolved, marking a success rate of 41.6 percent.
“When legal disputes involving Hong Kong and Macao occur on the mainland, there is no need to engage lawyers in Hong Kong or Macao,” said Chen Yi, director and senior partner of ZLC Law Office, the nation’s first jointly operated law firm serving clients in Guangdong, Hong Kong and Macao. “Our firm has dozens of Hong Kong and Macao legal practitioners, allowing clients to resolve cross-boundary legal matters within a single office.”
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Laifen Technology, which specializes in producing hair dryers, said Qianhai’s dedicated platform for enterprises’ international expansion has helped the company rapidly grow its global footprint.
The tech firm achieved a new high in overseas revenue in the first quarter of this year, with growth rates in North America and Western Europe both hitting 100 percent, said Deng Cailian, cofounder of the company. Deng added that its products are now available in major global retailers such as Costco and Walmart.
According to official statistics, the external trade volume of the Qianhai and Shekou area increased from 71.2 billion yuan ($10.43 billion) in 2015 to 561.2 billion yuan last year, representing an average annual growth rate of 23 percent.
Contact the writer at sally@chinadailyhk.com
