The Dream Factory of China

A group of senior consultants for the Shenzhen Qianhai-Shekou Pilot Free Trade Area (Qianhai FTA) and the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Advisory Committee discussed the development of Qianhai and offered advice to the Qianhai Authority at a meeting Kylin Villa in Nanshan yesterday.

The city’s mayor, Xu Qin, said that the advisory committee is very important for Qianhai to set goals for its future development and enhance the cooperation between the mainland and Hong Kong. He said that the area should take the opportunity to explore the new mechanism for opening up.

Tian Fu, director of the Qianhai FTA Authority, told members of the advisory committee that the cooperation zone now needs to decide on key goals after six years’ development, and the FTA needs to summarize its innovative experiences and highlight its new experimental areas. He also said that Qianhai should make more plans to support the development of Hong Kong.

“The development of Qianhai is the premise of Hong Kong’s prosperity and will ensure Hong Kong strengthens its position as an international financial center, international shipping center and international trade center,” said Hua Jianmin, former vice chairperson of the Standing Committee of the National People’s Congress and director of the advisory committee.

“I think Qianhai should continue to foster its modern service industry, which is based on high-technology and the Internet. Also, Qianhai should encourage small businesses and welcome Hong Kong's youth to seek opportunities. Most importantly, it should have a strong thinktank.”

Chen Zuo’er, former deputy director of the Hong Kong and Macao Office of the State Council and vice director of the advisory committee, stressed the importance of maintaining the stability of the “One Country and Two Systems” policy.

Chen also supports the pan-Qianhai concept, saying that Qianhai should have more space to develop.

“I suggest that the FTA sets up licensed off-shore financial institutions and allow them to have more renminbi business. Secondly, I think Qianhai enterprises should be allowed to set up off-shore accounts for starting off-shore businesses on the mainland. Those two measures will help fill the gap,” said Ma Weihua, director general of the National Fund for Technology Transfer and Commercialization.

At the meeting, Yue Yi, vice chairman of Bank of China (Hong Kong) Ltd., and Xu Guanlin, chairman of K&C Protective Technologies Pte, Ltd. and lifelong honorary president of Nanyang Technological University, were given certificates for being cooperating members of the committee.