The Dream Factory of China

　　As of Saturday, Hong Kong enterprises remain the biggest contributor to the Qianhai-Shekou Free Trade Area’s economy by generating 22 percent of the area’s total added value and 27 percent of the total revenue, according to the latest statistics released by Qianhai authorities.

　　With total registered revenue of 388.9 billion yuan (US$56.5 billion), the 4,494 Hong Kong-funded enterprises are only a small fraction of the massive number of companies set up in the area — the number of Hong Kong companies just accounting for 4 percent of the total. But they have achieved over 39.2 billion yuan of the added value, contributed more than 8.53 billion yuan in tax revenue and invested over 16 million yuan in fixed assets.

　　Over 90 percent of them conduct business in the four pillar industries of the area. About 37.6 percent of the financial institutions are Hong Kong funded, 20.3 percent of logistics companies are Hong Kong invested, 10.9 percent of information service enterprises are Hong Kong owned and 31.2 percent of tech and other service providers are from Hong Kong.

　　In addition to those large companies such as HSBC and HSB, the statistics show that small Hong Kong companies and newly built startup groups are also seeking opportunities in the area.

　　By the end of the first quarter, 15 Hong Kong entrepreneur teams were selected to move into Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E Hub), bringing the total number of its Hong Kong teams to 87. Most of them have received angel round, A round or C round investment with the highest investment reaching 700 million yuan.

　　Chen Kwan-yiu, president of Qianhai Institute for Innovative Research, said that Qianhai has become closely connected with Hong Kong, and that in the scope of the Guangdong, Hong Kong and Macao Greater Bay Area, Qianhai should integrate with Hong Kong to seek for more balanced development.

　　To help encourage more exchanges between the two areas, Qianhai has lowered its threshold for Hong Kong enterprises entering the mainland financial market, sped up the construction of a modern Hong Kong industrial park, allowed 10 kinds of Hong Kong professionals (such as certified tax agents and certified public accounts) to work in the area and continuously provided internships to Hong Kong students.