The Dream Factory of China

　　Qianhai rang in 2015 with two joyous occasions. First, General Secretary Xi Jinping gave instructions regarding the work to be done in Shenzhen, exhorting the city to bear in mind its mission and embrace responsibility for it. He also urged Shenzhen to reflect and open its mind with an exploratory and innovative spirit, attaining new achievements by comprehensively establishing a moderately prosperous society, deepening reforms, ruling by law and running the Party with discipline. In addition, Xi called for the introduction of additional advantages for the special economic zone while it strives to excel. Owing to Qianhai’s status as a uniquely important special economic zone and mindful of its role as a pioneer and leader in Shenzhen’s mission to create benefits and flourish, Xi’s directives for Shenzhen could be regarded as instructions for Qianhai. Back on 7 December 2012, Shenzhen was the first location Xi chose for an inspection visit from Beijing after he was elected General Secretary of the Central Committee of the Communist Party of China. In fact, during last year’s national event ‘Lianghui’, Xi asked about Qianhai’s development and delivered specific instructions in person, illustrating his genuine concern for and focus on Qianhai.

　　The other encouraging news so far this year is that Li Keqiang, Premier of the State Council of the People's Republic of China, visited Qianhai WeBank on the first workday of 2015. During his inspection Li complimented the bank for being a “groundbreaking innovator” and instructed Qianhai WeBank, China’s first privately-owned bank operating via the internet, to pave a way for internet finance to aid the development of a more inclusive finance field, encompassing small-scale loan companies and micro banks, by drawing upon its valuable experience. He stated his hope that WeBank lower its operation costs to help small-scale and micro customers, thus prompting traditional financial institutions to hasten reform. Li also witnessed Qianhai WeBank’s first loan transaction, and his visit to Qianhai on the first workday of the new year suggested profound meaning. He conveyed his expectations for Shenzhen – and Qianhai in particular – hoping for significant influence on China’s new era of reform and liberalizing policies. His presence and words also sent an important message to the world, reminding everyone that the PRC’s Central Committee of the Communist Party fully supports Qianhai’s development.

　　In 2014, a higher number of Hong Kong businesses responded to the call to Qianhai. Setting up business there blossomed in popularity. It was reported that more than 1,000 large and medium-sized Hong Kong-invested companies had registered in Qianhai, a figure six times greater than that of 2013. Without question, 2015 will be another breakthrough year for Hong Kong companies entering Qianhai.

　　At the start of this year, the Chinese leaders’ instructions and visits had already sparked keen interest in Qianhai among Hong Kong businessmen. On 9 January, Qianhai’s first commercial land of the year went up for bidding. Kerry Properties (China) Limited, owned by the well-known Hong Kong property developer Kerry Properties, won the bid at RMB 3.86 billion, exceeding the minimum price by 22.5%. Kerry Properties’ landmark success in obtaining Qianhai’s first commercial land in 2015 indicated a new highpoint in how Hong Kong companies view Qianhai’s opportunities. At the same time, the bid signaled a new wave of Hong Kong corporations moving into Qianhai.