Shenzhen’s Qianhai special financial zone has been granted nine administrative approval rights that were previously in the hands of provincial-level authorities, China Business News reported Monday, citing Wang Jinxia, liaison director of the zone. The move is aimed at facilitating more foreign investment into the zone through faster approvals. The approval rights cover asset management, education and training, as well as culture development. As of the end of November, 2,642 companies, involving a combined registered capital of 205.1 billion yuan (US$33.86 billion), had received operational approvals from the Qianhai administration, the report said.
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