Press Releases in Hong Kong

HK CE welcomes central govt’s development plan for Qianhai

This undated photo shows a panoramic view of Qianhai of Shenzhen, Guangdong province (PHOTO / VCG)

HONG KONG – Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor on Monday welcomed the central government’s new plan to further develop Qianhai, saying it will foster Hong Kong-Shenzhen cooperation at a higher level under which the two cities can serve as “dual engines” to drive development in the Greater Bay Area.

Lam’s remarks came following the announcement of a new plan, issued by the Communist Party of China Central Committee and the State Council, to further develop the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

According to the plan, the reform and opening-up of the cooperation zone will be comprehensively deepened.

The total area of the cooperation zone will be expanded to 120.56 square km from 14.92 square km, according to the plan.

The central government unveiled Monday a new plan to further develop the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, under which the reform and opening-up of the cooperation zone will be comprehensively deepened

The new blueprint was formulated to help Qianhai better play an exemplary and leading role in the development of the Guangdong-Hong Kong-Macao Greater Bay Area, according to the plan.

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By 2035, Qianhai will boast world class business environment, and will become an engine for high-quality development with strong capability in global resource allocation, breeding innovation and leading coordinated development, according to the goals laid out in the plan.

In a statement issued by the Hong Kong government, Lam said the plan has again demonstrated the nation’s key strategic planning, under which the development of the Greater Bay Area would enrich the implementation of “one country, two systems” and enhance the level of cooperation among Guangdong, Hong Kong and Macao.

Hong Kong “will further promote Guangdong-Hong Kong co-operation as well as Hong Kong-Shenzhen co-operation, with a view to enhancing Hong Kong's integration into the overall national development,” Lam said.

The Hong Kong government will discuss with relevant central ministries to achieve further liberalization of trade in services as set out in the new plan through the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), so as to enable the professional sectors in Hong Kong to make early planning and relevant arrangements, according to the statement.

The government is prepared to join hands with relevant sectors to offer views and coordinate efforts to complement the expansion of the Qianhai cooperation zone in areas of financial services, innovation and technology, legal services and business environment, it added.

Since its development a decade ago, Qianhai has attracted many Hong Kong enterprises and young entrepreneurs, and provided incubation support to quite a number of successful startups, according to the statement.

A total of 11,500 Hong Kong-invested companies have been registered in the zone, with registered capital reaching 1.28 trillion yuan (about US$198 billion), according to official data released in late August.

On Sunday, the central government unveiled the Plan for the Development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin.

READ MORE: Plan set for Guangdong-Macao cooperation zone

The Hong Kong government said it would explore how Hong Kong can provide support for and contribute to the implementation of the recently announced Hengqin plan through the existing cooperation mechanism with Macao’s government.

With Xinhua inputs