qianhai

According to plans made by the Qianhai administration, as the pilot district for cooperation between mainland China and Hong Kong and innovation in the service industry, Qianhai undertakes four functions:

1. An area that will aim to facilitate innovation in the modern service industry
2. An area that will aim to become a hub of modern services and modern service development
3. A pilot area for closer cooperation between mainland China and Hong Kong
4. A facilitator in the industrial reform and sustainable economic development of the Pearl River Delta{{cite web|script-title=zh:合作区介绍|trans-title=Introduction to the Cooperative Zone|url=http://www.szqh.gov.cn/ljqh/qhjj515/hzqjs515/|website=前海门户网站|language=zh}}

Qianhai is situated in the Pearl River Delta. With the completion of railways and roads by 2020, Qianhai will be within a one-hour commuting radius of the Pearl River Delta and within a 30-minute commuting radius of Hong Kong. The main arteries of traffic in the region, including the Shenzhen-Zhongshan corridor, Shenzhen Western Port, Shenzhen North Station and Guangzhou-Shenzhen Yanjiang Highway all pass through Qianhai.{{cite web|script-title=zh:五大比较优势|trans-title=Five Major Advantages|url=http://www.szqh.gov.cn/ljqh/qhjj515/wdbjys/|website=前海门户网站|access-date=16 June 2014|language=zh}}

The city of Shenzhen, where Qianhai is located, is one of the most economically developed regions in the Pearl River Delta and mainland China. As one of the most economically productive cities in China, Shenzhen has the highest GDP per capita, foreign export volume, the number of patent applications and the number of patents owned per capita among all major cities in China.

The following policies were approved by the State Council on June 27, 2012.

• Qianhai shall experiment with the expansion of offshore RMB fund flow-back channels. Qianhai will support the development of Hong Kong as an offshore RMB settlement centre and establish a cross-border RMB innovation zone in order to facilitate the development of RMB financial services.{{cite web|last1=Yeung|first1=Jack|title=HK finds huge potential for cooperation with Qianhai|url=http://www.chinadaily.com.cn/hkedition/2012-07/04/content_15546751.htm|website=China Daily HK Edition|access-date=16 June 2014}}
• Qianhai shall support the issuance of RMB loans from local banking institutions to international projects, and from Hong Kong-based banking institutions to Qianhai projects under the stipulations of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA).
• Qianhai shall be supported in its efforts to establish an equity investment parent fund in Qianhai.
• Hasten the internationalization of Qianhai's financial market by opening up to Hong Kong under the stipulations of CEPA
• Qianhai supports the development of innovative financial instruments, and financial products that support the development of the real economy.
• Hong Kong and international banking institutions shall be encouraged to establish their headquarters in Qianhai in order to quicken the pace of the internationalization of Qianhai's financial industry.{{cite journal|last1=Tse|first1=Constant|title=State Council Approves Preferential Policies for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone|journal=Deloitte|volume=169}}{{cite web|title=Reply of the State Council on the Relevant Policies Supporting the Development and Opening-up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone|url=http://en.pkulaw.cn/display.aspx?cgid=178217&lib=law|website=Law Info China|access-date=16 June 2014}}

• Eligible companies registered in Qianhai are subject to a 15 percent preferential corporate income tax rate.{{cite web|last1=He|first1=Sophie|title=Qianhai poised to be hub of cooperation|url=http://www.chinadaily.com.cn/china/2012-06/30/content_15538337.htm|website=China Daily|access-date=13 June 2014}}
• Eligible professionals who are employed in Qianhai are exempt from personal income tax.

File:QianHaiCourt.jpg

• Qianhai shall support Hong Kong arbitration agencies' establishment of affiliated agencies in Qianhai.
• Qianhai shall support the joint operation of mainland and Hong Kong law firms under CEPA and its supplementary agreements.

{{ill|Shenzhen Qianhai Cooperation Zone People's Court|zh|深圳前海合作区人民法院}} was established in 2015 as a national judicial reform pilot, it specializes in foreign-related and Hong Kong/Macao/Taiwan commercial cases, handling claims up to RMB 50 million.{{cite web | title=深圳前海：模范法院树起涉外法务新样板 _光明网 | website=新闻中心_报道刚刚发生的新闻_光明网 | date=2025-01-20 | url=https://news.gmw.cn/2025-01/20/content_37806406.htm | language=zh | access-date=2025-02-13}}{{cite web | title=中国审判-深圳前海合作区人民法院正式揭牌 前海法院"新"在哪？ | website=中国审判 | date=2025-02-13 | url=http://www.chinatrial.net.cn/news/5146.html | language=zh | access-date=2025-02-13}}

• Qianhai's human resource management mechanism shall be innovated and relevant policies and measures shall be formulated to attract a professional, international workforce, including but not limited to professionals from Hong Kong, Macau, and Taiwan, as well as Chinese professionals who are currently working or studying abroad or those who have returned to China.
• Professionals with certification from Hong Kong shall be permitted to provide professional services, the boundary of which is confined to Qianhai and to the enterprises and residents of Qianhai. The specific policies, measures, and regulations of such services shall be formulated by relevant regulatory departments.
• Professionals from Hong Kong with the certificates of Certified Public Accountant of China shall be permitted to serve as partners of mainland Chinese accounting firms. The pilot trial procedures will be formulated by Shenzhen and will be implemented in Qianhai upon the approval of the Ministry of Finance.{{cite web|last1=Li|first1=Martin|title=SZ to invest ￥10b in Qianhai in '13|url=http://www.sznews.com/news/content/2013-02/22/content_7729162.htm|website=Shenzhen Daily|access-date=16 June 2014}}

• Hong Kong education service providers are permitted to set up international schools invested by Hong Kong investors in Qianhai upon approval.
• Hong Kong health care service providers are permitted to establish hospitals invested by Hong Kong investors in Qianhai.

• Hong Kong and Macau telecom operators are permitted to establish telecom joint ventures with mainland Chinese operators in Qianhai under the stipulations of CEPA.
• Qianhai will establish a dedicated telecommunications channel in order to provide a better and faster channel for telecom businesses as well as other firms in Qianhai.

As a modern service industry cooperation zone, Qianhai's administration has planned to focus on finance, modern logistics, information services, technology services, and other professional services.

The Qianhai administration plans to promote innovation and partnership within the financial industry by relaxing currency flows between Qianhai and Hong Kong, reinforcing Hong Kong's position as an offshore RMB settlement centre. This initiative is meant to spearhead the internationalisation of Shenzhen's capital market, as well as strengthen the partnership between securities markets in Shenzhen and Hong Kong. Qianhai's financial services will aim to complement that of Hong Kong's, in a conscious effort to avoid direct competition and create a win-win situation.{{cite web|last1=He|first1=Sophie|title=Qianhai poised to be hub of cooperation|url=http://www.chinadaily.com.cn/china/2012-06/30/content_15538337.htm|website=China Daily|access-date=16 June 2014}}

More specifically, Hong Kong banks will be allowed to extend commercial RMB loans to Qianhai-based onshore mainland entities. The People's Bank of China has also indicated that such loans will for the first time not be subject to the benchmark rates set by the central bank for all other loans in the rest of China.{{cite web|last1=Fung|first1=Anita|title=Qianhai Taking RMB Internationalisation to the Next Level|url=http://www.nzcta.co.nz/chinanow-commentary/1555/qianhai-taking-rmb-internationalisation-to-the-next-level/|website=New Zealand China Trade Association|access-date=11 June 2014}} The beginning of this "cross-border yuan loan program has opened a new channel for the back flow of overseas yuan funds, which will increase the yuan’s global liquidity and promote its internationalisation,” according to Linan Liu, a senior strategist for greater China at Deutsche Bank AG.{{cite web|last1=Fu|first1=Bilian|title=Qianhai cross-border yuan loan program officially starts|url=http://english.peopledaily.com.cn/90778/8113233.html|website=People's Daily|access-date=16 June 2014}}

The Qianhai Equity Trading Centre will provide loans to Qianhai enterprises by launching RMB-denominated wealth management products (WMPs) on the Hong Kong capital market.{{cite web|title=CNH: Qianhai to offer CNH trust products|url=http://vip.stock.finance.sina.com.cn/q/go.php/vReport_Show/kind/strategy/rptid/1861544/index.phtml|website=Sina Finance|access-date=13 June 2014}}

Qianhai has implemented preferential policies which will effectively allow logistics providers to offer improved and more flexible services across mainland China and globally.{{cite web|title=DHL to Build Logistics Hub in Qianhai Shenzhen-Hong Kong Economic Zone|url=http://www.sisi-smu.org/viewarticle.asp?ArticleID=31573&ClassID=30|website=Shanghai International Shipping Institute}}

The Qianhai Bay Free Trade Port Zone is one of the vital components of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. The construction of 7 warehouses with a total area of 400,000m² has been completed, among which {{cvt|12,000|m2}} are for refrigerated bonded warehouses.{{cite web|script-title=zh:前海湾保税港区|trans-title=Qianhai Bay Duty-free Area|url=http://www.szqh.gov.cn/ljqh/qhwbsgq/|website=前海门户网站|access-date=16 June 2014|language=zh}}

The Qianhai administration will promote the development of software and information technology services, as well as facilitate the cooperation between mainland and Hong Kong telecom operators.

Qianhai will give priority to the development of innovative technologies, creative design services, as well as professional services such as consulting and management. As industrial reform is now underway in the Pearl River Delta, Qianhai's strategic positioning includes the plan to provide manufacturers with new technologies and other professional services to support their reforming efforts and facilitate a smoother transition.{{cite web|last1=Yang|first1=Lina|title=Shenzhen to switch to service industry|url=http://news.xinhuanet.com/english/video/2013-12/16/c_132971547.htm|archive-url=https://web.archive.org/web/20131221064842/http://news.xinhuanet.com/english/video/2013-12/16/c_132971547.htm|url-status=dead|archive-date=December 21, 2013|website=Xin Hua Net|access-date=16 June 2014}}

With a planned area of {{convert|14.92|km2}} and total construction area of 26-30 million m², Qianhai is expected to create 650,000 jobs and house 150,000 residents by 2020. According to the city blueprint, Qianhai's residents will have access to a park and greenery within {{convert|100|m}}, the ability to reach public transportation within {{convert|200|m}}, shopping malls, restaurants, and hotels within {{convert|500|m}}, and education and health care services within {{convert|1000|m}} of any given point in the city.{{cite web|script-title=zh:规划建设|trans-title=Planned construction|url=http://www.szqh.gov.cn/ljqh/ghjs/|website=前海门户网站|access-date=12 June 2014|language=zh}} In order to attract and retain a creative workforce, the Qianhai administration has claimed that it will aim to establish an internationalised education system, as well as a Hong Kong-standard health care system.

The Qianhai administration has stated that it will prioritise public transportation and sustainable development. All Qianhai buildings will meet international environmental standards, and the energy consumption of buildings will be closely monitored and controlled.{{cite web|script-title=zh:绿色建筑|trans-title=Environment-friendly Construction|url=http://www.szqh.gov.cn/ljqh/ghjs/xckd/lsjz/|website=前海门户网站|access-date=12 June 2014|language=zh}} There is a planned 150 million yuan investment in reforestation, and investments in clean energy, water and waste recycling as well as sustainable urban management.

An example of Qianhai's future work environment, the Qianhai Enterprise Dream Park is modelled after the Silicon Valley, with 58 office buildings and a multi-purpose building that can be used as a conference and exhibition hall and an exchange platform. Companies who are planning to move in or have already moved in include the Hong Kong and Shanghai Banking Corporation (HSBC), Hang Seng Bank, Industrial and Commercial Bank of China (ICBC), China Mobile, etc.{{cite web|last1=Liu|first1=Wanzhuan|script-title=zh:前海企业公馆签约首批进驻企业|trans-title=Qianhai Signs Initial Corporate Headquarters Contracts|url=http://wb.sznews.com/html/2014-04/11/content_2838657.htm|website=Shenzhen News|access-date=16 June 2014|language=zh}} Although some companies have moved in, there is still ongoing construction. The area will be completed by the end of 2014.

File:Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub 1.jpg

The Qianhai Youth Hub is an area that will become a community dedicated to the facilitation of innovation in young entrepreneurs, providing them with sources of venture capital, the advantage of starting up in one of the most active economies in China, and the opportunity to network with companies as well as like-minded individuals from abroad, particularly Hong Kong youths.{{cite web|last1=Zhang|first1=Wei|script-title=zh:前海打造"梦工厂" 深港青年创业第一年免租金|trans-title=Qianhai Creates "Dream Factory" for Shenzhen and Hong Kong Young Entrepreneurs with First Year Rent Free|url=http://www.chinanews.com/ga/2013/12-11/5606539.shtml|website=China News|access-date=16 June 2014|language=zh}}

Established to foster cross-border entrepreneurship, the hub spans 920,000 m² (north section operational since 2022), offering specialized zones for AI, fintech, and green tech startups. Key features:{{cite web | title=携手向"新"，融创未来——深圳前海成港青北上创业沃土-新华网 | website=Xinhua News Agency | date=2024-06-12 | url=http://www.news.cn/gangao/20240613/2566719017244099882006041101f891/c.html | language=zh | access-date=2025-02-13}}

• Policy Support: Implements "12 Measures for Supporting Hong Kong/Macao Youth", providing subsidies, streamlined licensing for 23 professions, and tax incentives.
• Incubation Results: Hosts 9,055 Hong Kong-registered firms and incubated 691 Hong Kong startups (as of 2024), including AI firm Phantom Future and eco-tech leader Cooh Science.
• Infrastructure: Features R&D labs, co-working spaces, and a Hong Kong-style neighborhood with subsidized "1 Yuan Rent" workspaces.
• Ecosystem: Hosts annual Qianhai GBA Youth Innovation Competition, partnered with Tencent, Huawei, and Hong Kong universities.
• Over 10,000 Hong Kong residents work or reside here6, supported by cross-border legal/financial frameworks.{{cite web | title=前海粤港澳台青年创新创业大赛总决赛收官 所有优胜项目可获创业奖励_深圳新闻网 | website=深圳第一新闻门户网站——深圳新闻网 | date=2023-12-16 | url=https://www.sznews.com/news/content/2023-12/16/content_30650045.htm | language=zh | access-date=2025-02-13}}

{{reflist}}

• [https://web.archive.org/web/20140601205939/http://www.szqh.gov.cn/ Official Chinese Website]
• [http://hk.lexiscn.com/law/regulations-on-qianhai-shenzhen-hong-kong-modern-service-industrial-cooperation-area-of-shenzhen-special-economic-zone.html?eng=0 Regulations on Qianhai Shenzhen-Hong Kong Modern Service Industrial Cooperation Area of Shenzhen Special Economic Zone]

{{Shenzhen}}

{{PRCFTZ}}

{{Guangdong}}

Category:Shenzhen