The Dream Factory of China

About half of the land that was transferred for commercial use in Qianhai has been acquired by Hong Kong bidders so far, according to a recent data released by Qianhai authorities.

In the past seven years since the establishment of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the land use rights of 69.1 hectares of land in Qianhai were transferred to bidders for commercial development, and a total of 33.5 hectares of land was sold to Hong Kong buyers. The planning scale of their buildings reaches 2,482,000 square meters of floor space and the average land price per square meter in floor space was 19,300 yuan (US$2,797) (not including land lots provided by the government as investment).

Last year, Qianhai transferred four plots of land, with a total floor space of 38,900 square meters, to Hong Kong enterprises, accounting for 67.4 percent of the total transferred floor space.

To create a more convenient investment environment for Hong Kong investors, Qianhai has built a Shenzhen-Hong Kong fund town and a modular-designed complex — Qianhai Shenzhen-Hong Kong Innovation Center — which has been put into use.

Currently, there are 28 Hong Kong construction service institutions working in Qianhai. They provide a Hong Kong standard of services to help guide the development and management of real estate properties.

In addition to headquarters such as CTF China Headquarters and HSBC Southern Headquarters, Qianhai also built bonded warehouses for Hong Kong enterprises to conduct cross-border business.

According to Qianhai’s cooperative plan with Hong Kong, by 2020 there will be 10 Hong Kong enterprise clusters in Qianhai and over 9,000,000 square meters of buildings developed by Hong Kong companies, attracting over 100,000 Hong Kong residents to work in the area.