As Shenzhen strives toward its goal of reaching 5 trillion yuan ($74 billion) in GDP in the next five years, the tech hub is also seeking to further expand cooperation with the Hong Kong Special Administrative Region, building stronger development momentum through joint collaboration platforms and cross-boundary infrastructure.
According to Shenzhen’s development outline for the 15th Five-Year Plan period (2026-30), which was unveiled on Tuesday, the city clearly sets out the core target of achieving a GDP of over five trillion yuan by 2030 with an annual growth rate of at least 5 percent — aiming to become the third Chinese city to reach this milestone after Shanghai and Beijing. During the 14th Five-Year Plan period (2021-25), its GDP exceeded 3 trillion yuan.
In the document, Shenzhen pledges to strengthen Qianhai’s role in facilitating cooperative development with Hong Kong and to accelerate the construction of the Hetao innovation cooperation zone.
In Qianhai, Shenzhen will work with Hong Kong to promote the vigorous development of modern service industries and accelerate their integration with strategic emerging industries. By 2030, Qianhai aims to achieve an added value of 320 billion yuan in modern service industries, host 15,000 Hong Kong-invested enterprises, and employ 15,000 Hong Kong residents.
ALSO READ: 108 startups picked for HK-Shenzhen I&T park incubation scheme
By then, the Shenzhen park of Hetao will largely establish a solid framework for collaborative innovation with its Hong Kong counterpart, build 30 high-level international sci-tech innovation platforms and facilities, and produce 300 international industrial standards.
Vowing to actively align with the development strategy for Hong Kong’s Northern Metropolis, Shenzhen will seek to connect the spur line of Hong Kong’s Northern Link to the renovated Huanggang Port, and optimize the functions and layout of various cross-boundary checkpoints.
In addition to land transportation, Shenzhen also plans to strengthen cooperation between its Yantian Port and Hong Kong’s Kwai Tsing Terminal, explore the launch of cross-boundary drone services and introduce a ferry route in the eastern waters of Shenzhen and Hong Kong.
To enhance the cross-boundary flow of factors of production, Shenzhen proposes to accelerate market integration within the Guangdong-Hong Kong-Macao Greater Bay Area, jointly establish common standards across various industries, and carry out more innovative reforms in Qianhai and Hetao in line with international rules.
READ MORE: Qianhai set to drive Shenzhen-HK film and TV collaboration
Dedicated to becoming the preferred destination for Hong Kong people to develop in the Chinese mainland, Shenzhen will also create a more conducive environment to meet Hong Kong residents’ livelihood demands in areas such as education, healthcare, employment, and entrepreneurship.
