The growing appeal of Shenzhen’s Qianhai cooperation zone to global tech firms will cement its role as a strategic platform for promoting new quality productive forces, according to international real estate services provider Savills.
Qianhai has become increasingly appealing to tech companies, including foreign-invested ones, Aborven Luo, senior director and head of commercial at Savills Shenzhen, said on Thursday.
A number of tech enterprises, including US chip company Texas Instruments and German industrial conglomerate Siemens, have set up offices in the cooperation zone, which serves as a pivotal platform for promoting Shenzhen-Hong Kong collaboration.
“Qianhai’s allure stems from several strengths. First, it boasts a high-quality working and living environment, with premium office spaces, pleasant neighborhood settings, and a convenient transportation network. Second, it offers efficient government services. Moreover, it also fosters close interactions with high-tech industrial clusters in Bao’an district after its space expansion, which bolsters the integration of talent, capital, innovation and industry chains,” Luo said at a news conference in Shenzhen.
“These advantages collectively attract global talent, driving more tech enterprises to establish a presence there”.
Luo added that Qianhai has taken a historic leap from being a “policy pilot zone” into a “functional cluster”. It is now entering a phase of capacity upgrading, or elevating to a higher level in economic activity, technological sophistication, and international influence.
Its tech services sector has expanded rapidly, with the number of large-scale firms growing at an average annual rate of over 10 percent since 2021, according to official statistics.
The area was home to 55,000 tech firms and over 120,000 modern service enterprises as of the end of September. Key drivers such as information and technology services accounted for over 35 percent of the modern services sector.
“Bolstered by closer regulatory ties with Hong Kong, a thriving international talent ecosystem, and the rollout of flagship projects including Qianhai International Financial City, the cooperation zone is set to break new ground in cross-boundary data, green finance, and high-end services,” Luo said.
Contact the writer at sally@chinadailyhk.com
