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Qianhai
Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (simplified Chinese: 前海深港现代服务业合作区; traditional Chinese: 前海深港現代服務業合作區; pinyin: Qiánhǎi Shēngǎng Xiàndài Fúwùyè Hézuòqū) is a commercial development in Shenzhen, Guangdong that is also known as Qianhai New District. Located in Nanshan District and encircled by the Shuangjie River, Yueliangwan Boulevard, Mawan Boulevard and Qianhai Bay, Qianhai covers an area of approximately 15 square kilometres (5.8 sq mi), comprising almost entirely reclaimed land. As of 2024, its GDP exceeded RMB 300 billion (8.6% YoY growth), and total trade reached RMB 706.65 billion (+42.4% YoY).
According to plans made by the Qianhai administration, as the pilot district for cooperation between mainland China and Hong Kong and innovation in the service industry, Qianhai undertakes four functions:
Qianhai is situated in the Pearl River Delta. With the completion of railways and roads by 2020, Qianhai will be within a one-hour commuting radius of the Pearl River Delta and within a 30-minute commuting radius of Hong Kong. The main arteries of traffic in the region, including the Shenzhen-Zhongshan corridor, Shenzhen Western Port, Shenzhen North Station and Guangzhou-Shenzhen Yanjiang Highway all pass through Qianhai.
The city of Shenzhen, where Qianhai is located, is one of the most economically developed regions in the Pearl River Delta and mainland China. As one of the most economically productive cities in China, Shenzhen has the highest GDP per capita, foreign export volume, the number of patent applications and the number of patents owned per capita among all major cities in China.
The following policies were approved by the State Council on June 27, 2012.
Shenzhen Qianhai Cooperation Zone People's Court was established in 2015 as a national judicial reform pilot, it specializes in foreign-related and Hong Kong/Macao/Taiwan commercial cases, handling claims up to RMB 50 million.
As a modern service industry cooperation zone, Qianhai's administration has planned to focus on finance, modern logistics, information services, technology services, and other professional services.
The Qianhai administration plans to promote innovation and partnership within the financial industry by relaxing currency flows between Qianhai and Hong Kong, reinforcing Hong Kong's position as an offshore RMB settlement centre. This initiative is meant to spearhead the internationalisation of Shenzhen's capital market, as well as strengthen the partnership between securities markets in Shenzhen and Hong Kong. Qianhai's financial services will aim to complement that of Hong Kong's, in a conscious effort to avoid direct competition and create a win-win situation.
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Qianhai
Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (simplified Chinese: 前海深港现代服务业合作区; traditional Chinese: 前海深港現代服務業合作區; pinyin: Qiánhǎi Shēngǎng Xiàndài Fúwùyè Hézuòqū) is a commercial development in Shenzhen, Guangdong that is also known as Qianhai New District. Located in Nanshan District and encircled by the Shuangjie River, Yueliangwan Boulevard, Mawan Boulevard and Qianhai Bay, Qianhai covers an area of approximately 15 square kilometres (5.8 sq mi), comprising almost entirely reclaimed land. As of 2024, its GDP exceeded RMB 300 billion (8.6% YoY growth), and total trade reached RMB 706.65 billion (+42.4% YoY).
According to plans made by the Qianhai administration, as the pilot district for cooperation between mainland China and Hong Kong and innovation in the service industry, Qianhai undertakes four functions:
Qianhai is situated in the Pearl River Delta. With the completion of railways and roads by 2020, Qianhai will be within a one-hour commuting radius of the Pearl River Delta and within a 30-minute commuting radius of Hong Kong. The main arteries of traffic in the region, including the Shenzhen-Zhongshan corridor, Shenzhen Western Port, Shenzhen North Station and Guangzhou-Shenzhen Yanjiang Highway all pass through Qianhai.
The city of Shenzhen, where Qianhai is located, is one of the most economically developed regions in the Pearl River Delta and mainland China. As one of the most economically productive cities in China, Shenzhen has the highest GDP per capita, foreign export volume, the number of patent applications and the number of patents owned per capita among all major cities in China.
The following policies were approved by the State Council on June 27, 2012.
Shenzhen Qianhai Cooperation Zone People's Court was established in 2015 as a national judicial reform pilot, it specializes in foreign-related and Hong Kong/Macao/Taiwan commercial cases, handling claims up to RMB 50 million.
As a modern service industry cooperation zone, Qianhai's administration has planned to focus on finance, modern logistics, information services, technology services, and other professional services.
The Qianhai administration plans to promote innovation and partnership within the financial industry by relaxing currency flows between Qianhai and Hong Kong, reinforcing Hong Kong's position as an offshore RMB settlement centre. This initiative is meant to spearhead the internationalisation of Shenzhen's capital market, as well as strengthen the partnership between securities markets in Shenzhen and Hong Kong. Qianhai's financial services will aim to complement that of Hong Kong's, in a conscious effort to avoid direct competition and create a win-win situation.