SHENZHEN, China, Dec. 23, 2025 — Located at the center of the Guangdong-Hong Kong-Macao Greater Bay Area, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is undergoing a significant transformation, quickly emerging as a new megacity core. Covering a total area of 120.56 km2, Qianhai has—since the December 2023 release of the Overall Development Plan for Shenzhen’s Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the “Qianhai Plan”)—made a major jump from a policy “testing ground” to a source of replicable institutional rules and practices in just two years. To date, 271 key tasks have been advanced and implemented, injecting strong momentum into Qianhai’s high-quality development.
A defining feature of Qianhai’s development is its deep integration with Hong Kong. This integration goes beyond geographical proximity to systematic alignment in rules and mechanisms. According to the latest data, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone has attracted over 10,500 Hong Kong-funded enterprises, with total registered capital exceeding 840 billion yuan. A growing number of Hong Kong professionals are choosing to pursue development opportunities in Qianhai. To date, more than 1,000 overseas professionals have completed registration to practise there, covering fields like finance, legal services and construction.
To promote seamless connectivity between Shenzhen and Hong Kong, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone has introduced a series of policy innovations. These include rolling out the “Hong Kong Residents Pay Hong Kong Tax Rates” policy—which effectively reduces the tax burden for Hong Kong residents; establishing a Shenzhen-Hong Kong cross-border data verification platform, which enabled the first mainland consumer loan to Hong Kong residents based on data verification (with over 1,700 transactions completed to date); and extending HKSAR government-funded public healthcare services to Qianhai, benefiting 1.78 million eligible elderly Hong Kong residents.
With institutional innovation as its core driver, Qianhai has produced 47 institutional innovation outcomes that have been replicated and promoted nationwide. In the financial sector, the implementation rate of the “30 Financial Support Measures for Qianhai” has exceeded 90%. The Shenzhen-Hong Kong International Financial City has drawn 522 financial institutions.
Yu Haichun, dean of the Institute of International Trade Rules at the University of International Business and Economics, noted that Qianhai has ranked first nationally for several consecutive years in China’s Pilot Free Trade Zone Innovation Index. Notably, Qianhai excels with a high score in overall institutional innovation, offering a practical and replicable model for national reform.
Meanwhile, Qianhai’s modern service industries are flourishing. The area has developed 18 specialized industrial clusters, drawing well-known enterprises like POP MART and Finland-based KONE Corporation to set up regional headquarters.
As the Qianhai Plan is further deepened in implementation, a new megacity core that connects Hong Kong, radiates across the Greater Bay Area, and engages with the world is rapidly emerging along the South China Sea coast. Qianhai is not only a new engine for Greater Bay Area development but also a key window for the world to observe China’s latest reform and opening-up initiatives.
Source: The Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone
CONTACT: Contact person: Mr. Wang, Tel: 86-10-63074558
