The Dream Factory of China

Qianhai-headquartered enterprises and leading tax payers were honored at a ceremony Monday afternoon. The headquarter enterprises also received a supportive fund of up to 20 million yuan (US$2.82 milion) from the Qianhai authority.

Official figures showed that 74 Qianhai-headquartered enterprises contributed more than 40 percent of Qianhai’s total tax revenue in 2019, and more than 60 percent of the tax revenue of last year was paid by the top 100 taxpayers in the free trade area.

These enterprises have played a significant role in stabilizing the local economy and pushing forward a high-quality economic development in Qianhai, said Tian Fu, director of the Authority of China (Guangdong) Pilot Free Trade Zone Qianhai & Shekou Area, at the ceremony.

According to statistics, Qianhai has been home to 359 enterprises established by Fortune 500 companies and 936 enterprises by domestic-listed companies by the end of March this year. In the first quarter, Qianhai has landed 79 new projects with a total investment of more than 33 billion yuan (US$4.65 billion). The actual used foreign capital reached US$624 million in Qianhai.

“Enterprises grow and thrive in a good business environment, to which the Qianhai authority has been committed,” said Tian Fu.

The good business environment and improved public facilities have attracted a number of Qianhai-registered enterprises to relocate their business operations to the free trade area.

Wei Bo, founder of Shenzhen Qianhai Hand-painted Technology and Culture Co. Ltd., said he has been impressed with the efficient and meticulous service provided by the Qianhai authority during the relocation of his company.

The favorable policies targeting Qianhai-headquartered enterprises has helped attract and retain high-end talents, according to Dong Feng, general manager of Qianhai Mercantile Exchange (QME), a cash commodity trading platform.