Date
26 September 2017
Work continues apace in the Qianhai special services zone in this file photo from April 15 this year. The first tenants will start moving in on Sunday. Photo: Reuters
Work continues apace in the Qianhai special services zone in this file photo from April 15 this year. The first tenants will start moving in on Sunday. Photo: Reuters

Hong Kong firms get red-carpet Qianhai welcome

Qianhai is ramping up incentives to attract Hong Kong investors to the special services zone across the border.

These include a generous land allocation which gives one-third of the Qianhai Shenzhen-Hong Kong Modern Services Zone to local companies.

Also, authorities are considering whether to grant Hong Kong firms the same privileges as domestic enterprises, the report said.

The measures were announced on Thursday as some Hong Kong companies, led by HSBC and Standard Chartered Bank, prepared to move in on Sunday.

They will be the first tenants in the 15-square-kilometer enclave designed to promote innovation in the service industry.

Hong Kong companies can build logistics centers, banks and non-financial facilities in a five square kilometer park.

Other incentives for investors include allowing non-bank institutions to issue renminbi loans which currently are confined to banks. 

Professionals can provide services directly to companies and residents of Qianhai.

More than 14,200 enterprises have registered this year, bringing the total to 17,800.

These include 53 Fortune 500 companies, 10,196 financial institutions of which 21 are banks.

– Contact us at english@hkej.com

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