Five years after its expansion, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone has reported significant economic growth, nearly doubling its regional GDP and total imports and exports, according to the Qianhai Authority. The announcement comes as the zone marks the fifth anniversary of the Qianhai Plan and its 16th anniversary, highlighting the success of its institutional opening-up policies.
Since the expansion in 2021, Qianhai's regional GDP has risen from 175.57 billion yuan to 331.81 billion yuan, while total imports and exports have grown from 378.05 billion yuan to 757.43 billion yuan. These figures, released on August 20, underscore the scale of institutional innovation in the 120.56-square-kilometer area. The zone has introduced and refined policies that have led to 111 institutional innovation outcomes being replicated and promoted nationwide.
The General Administration of Customs has introduced two rounds of dedicated support policies to address Qianhai's development challenges. Qianhai was the first in China to pilot a customs model featuring 'direct access at the first line and smart connected supervision,' allowing goods to be directly released at the port, with declaration and inspection after arrival at the comprehensive bonded zone. This has reduced the number of required customs declaration items from dozens to just over ten.
Shenzhen-Hong Kong cooperation has also deepened, with the number of Hong Kong-funded enterprises growing from over 8,000 in 2021 to more than 11,000 today. Technology commercialization platforms established by five Hong Kong universities have begun operations, incubating 193 projects. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, noted the growing presence of Hong Kong people in the area. 'There's a saying in Shenzhen: once you come, you're a Shenzhener. I felt that sense of belonging from my very first day,' he said. 'Qianhai has created an environment where Hong Kong and Shenzhen are deeply intertwined.'
Jacqueline Ho, CEO of Hong Kong-funded tech company Synovate Technologies, highlighted the benefits of Qianhai's talent recruitment services and connections with partners like Siemens. The company has obtained around 50 independent intellectual property rights and was named to the Forbes China Emerging Tech T30&30 Selection this year. Qianhai is now home to 532 key AI enterprises, including SmartMore Information Technology, Pony.ai, and Fengyi Technology.
Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, pointed to the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation as a sign of Qianhai's growing international reach. The center has served more than 270 enterprises in five years. Its Shenzhen-Hong Kong Cross-Boundary Data Validation Platform has helped mainland SMEs secure over HK$260 million in financing in Hong Kong, and its cross-border data channel has benefited more than 300,000 Hong Kong residents by making it easier to transfer medical records after treatment in Shenzhen.
These developments reflect Qianhai's approach to institutional opening-up: turning institutional differences into opportunities and aligning rules from paper into practice. The slogan 'Qianhai, Pulse with the World' captures this dynamic phase of reform and opening-up.
