Qianhai’s experimental economic zone plans to hire a deputy director from Hong Kong to drum up interest among the city’s enterprises and entrepreneurs, Nanfang Daily reported, citing Zhang Bi , director of the zone’s administrative authority.
Since it was established in 2010, the Qianhai-Shenzhen-Hong Kong Modern Service Industry Cooperation Zone has not drawn the level of participation that it expected from Hong Kong businesses in terms of registering their companies or acquiring land in the zone.
Entrepreneurs from the city remain cautious about investing in the zone, despite the central government’s plans to turn Qianhai into a regional financial and services center that will rival Hong Kong.
According to Nanfang Daily, a total of 129 Hong Kong companies have invested more than US$10 million each in the zone. So far, about 6,000 enterprises have been registered in the zone.
To attract more investors, the authority is considering removing the 5 million yuan (US$801,538) minimum registered capital requirement while relaxing other entry rules in the zone.
The Qianhai authority is also setting up a liaison office in Hong Kong to promote the zone and attract more investors and skilled workers from the city, the report said.
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