As a "test field" for China in comprehensively deepening reform and opening up, 
Qianhai has demonstrated robust development momentum since the Plan for 
Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong 
Modern Service Industry Cooperation Zone (Qianhai Plan) was issued by Chinese 
central government on Sept. 6 last year. 

The vitality of Qianhai's development is constantly presented to the world due 
to the all-round opening up. In the first half of this year, the actual use of 
foreign capital in the area was 3.53 billion U.S. dollars, up by 17.4% year on 
year, according to the Authority of Qianhai.

Qianhai has made greater progress in pilot reform and innovation over the past 
year. "Qianhai is characterized by the pilot reform and innovation," said Xu 
Weiyu, senior manager of Shenzhen Qianhai PwC Business Consulting Services Co., 
Limited.

The cooperation between Shenzhen and Hong Kong has deepened as the Qianhai 
Authority and Financial Services and the Treasury Bureau of Hong Kong Special 
Administrative Region (FSTB) recently launched a 18-measure program supporting 
the development of Venture Capital in the area. By launching pilot policies and 
measures for cooperation, Qianhai has rolled out 725 institutional innovations 
in the fields of investment, trade, finance and rule of law, among which 65 
have been duplicated for use nationwide.

The Qianhai Plan is widely taken as another opportunity for Qianhai's 
development and a good window for upgrading Shenzhen-Hong Kong cooperation. 
Qianhai is not confined to the "geographic extension", otherwise, it has made a 
"policy expansion" as well.

In July this year, Standard Chartered Bank set up Standard Chartered Private 
Equity Fund Management (Shenzhen) Co., Ltd. in Qianhai, and the company's legal 
representative Lin Ximing said that in the future, combined with Qianhai's 
advantageous environment, more and more foreign institutions will enter the 
mainland through Qianhai.

"Both the designing and the implementation of policies have revealed an 
orientation toward developing and facilitating industries, thus the enterprises 
have been able to do business with ease and confidence," said Owen Wang, vice 
president of the Greater Bay Area of Li & Fung Qianhai Supply Chain Management 
(Guangdong) Co., Ltd., a Hong Kong-funded enterprise.

Thanks to the dual advantages of Free Trade Zone and comprehensive bonded zone, 
Li & Fung supply chain currently managed and operated warehouses with an area 
of more than 100,000 square meters in Qianhai and has set up global or 
Asia-Pacific service trade and supply chain centers for a number of 
international well-known brands. The policies rolled out in Qianhai are "in 
line with industrial development", said Wang. Thanks to those policies, the 
projects for logistics industry can be "efficiently connected" as soon as 
they're implemented and customs clearance is "fast and smooth", he added.

There is no doubt that Qianhai is becoming more open and international. Over 
the past year, Qianhai has launched lots of innovations and pilot programs: 
taking the lead in realizing Notification and Commitment System for approval of 
the business of overseas assignment of seamen, holding Shanghai Cooperation 
Organization (SCO) Youth Technology and Innovation Forum, carrying out the 
Cross-boundary Wealth Management Connect (WMC) Pilot Scheme in the 
Guangdong-Hong Kong-Macao Greater Bay Area (GBA), implementing nine support 
policies bringing tangible benefits to Hong Kong, building the GBA 
International Arbitration Centre, conducting the GBA Union of Innovation China, 
constructing Qianhai-Hong Kong-Macau e-link and releasing a package of 100 
one-stop services for international talents etc.

Source: Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry 
Cooperation Zone