Young entrepreneurs from Hong Kong are flocking to Shenzhen’s Qianhai special economic zone to set up business, drawn by the area’s favorable policies and efficient services.

A total of 187 startups settled down in the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub) last year, 25 percent of which have secured five million yuan ($720,732) or more in financing.

Peter Mok, general manager of Shenzhen Qianhai-Hong Kong Youth Innovation and Entrepreneur Hub (Ehub), said one of its core services is to help startups with financing.

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“We plan to set up a platform next month which will gather investors from both Hong Kong and Shenzhen. This will help startups better connect with investors and make it easier for them to get funding,” Mok said.

Qianhai launched a new development model for Ehub in August 2024, with a range of incentives to attract Hong Kong startups.

Among the offerings, startups can rent offices and get incubation services with just 1 yuan per square meter per month. The incentives also include a 500 million yuan innovation fund and 100,000 square meters of industrial space.

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Haakon Luo, chairman of Comma Technology (Guangdong) Co Ltd, a startup founded by several doctors from the University of Hong Kong that specializes in smart logistics solutions, said Qianhai’s favorable entrepreneurial policies and efficient government services have impressed him.

“The process of setting up office in Qianhai was quite smooth. It only took a week for us to finish the whole process from application to approval,” he said.

“Also, supportive policies are well-targeted for startups like ours. For example, we get fully renovated, rent-free office space ready for immediate use. On capital matching, high-quality roadshows and investor meetings always have up to 40 to 50 representatives from major investment firms in one session, which saves us from the hassle of seeking investors individually.”

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Chi Lam, founder and CEO of Spaceship, another Qianhai-based Hong Kong startup which specializes in global logistics management, said Hong Kong businesses have unique advantages operating in Qianhai.

“We bridge cultural and operational divides, combining knowledge of foreign markets with the Chinese mainland’s supply chain strengths to deliver efficient cross-boundary solutions,” he said.

Lam added that the company’s business in Qianhai had experienced remarkable growth, with operating revenue rising by about 40 percent year-on-year in 2025.

Contact the writer at sally@chinadailyhk.com