2024 RT Amination Banner.gif

China Daily

News> Hong Kong> Content
Wednesday, December 06, 2017, 16:49
Qianhai reforms improve business environment
By Zhou Mo
Wednesday, December 06, 2017, 16:49 By Zhou Mo

The Qianhai special economic zone has offered a preferential tax policy and financial support to attract and retain top talent from Hong Kong. (EDMOND TANG / CHINA DAILY)

The Shenzhen-Hong Kong cooperation zone Qianhai is promoting innovation and reform to improve the business environment for registered enterprises.

The zone has been leading the country in pushing forward investment liberalization, financial system reform and improvement of the legal environment, according to assessment reports by Sun Yat-sen University and PricewaterhouseCoopers.

ALSO READ: Party chief: Shenzhen welcomes HK designing talents

In some areas, the zone has almost reached international free-trade level, the reports said.

The cooperation zone has launched 111 innovative measures to improve its systems this year, including moves to facilitate investment and trade, promote financial innovation, and improve supervision.

For example, it has linked up with Hong Kong health department in carrying out health quarantine, which allows goods to receive only one inspection, instead of two on both the Chinese mainland and Hong Kong sides. That could make procedures simpler and reduce customs clearance times.

“Systematic innovation in Qianhai has further stimulated market vitality of the area and will inject greater energy into its development,” Du Peng, head of Qianhai Authority, said on Wednesday.

READ MORE: HK, Shenzhen to enter full cooperation on innovation

“Qianhai and Shekou free trade area’s leading role in the city and, more broadly, in Pearl River Delta region is strengthening.”

Enterprises in the free trade area generated 30.52 billion yuan (US$4.61 billion) in tax from January to October, growing 25.7 percent year-on-year.

Added value of registered enterprises is expected to expand 47 percent on an annual basis to 208 billion yuan this year.

 

sally@chinadailyhk.com

Share this story

CHINA DAILY
HONG KONG NEWS
OPEN
Please click in the upper right corner to open it in your browser !