The Dream Factory of China

Source :Qianhai Media Center

Some 130 new Hong Kong-funded enterprises with a combined registered capital of 8.811 billion yuan (US$1.24 billion) have been set up in Qianhai in the first quarter of this year, taking the total number of such enterprises in the free trade area to 12,232, official statistics showed.

The number is almost six times that in 2015. According to Wang Jinxia, vice director of Qianhai Cooperation Zone Authority, nearly 8,800 overseas professionals, including 5,123 from Hong Kong, are now working in Qianhai.

The fast growth in the number of Hong Kong-funded companies is largely attributed to the entrepreneurship-friendly environment that Qianhai has to offer.

Qianhai has in recent years put into use a number of incubators and startup accelerators, such as Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub), and Qianhai Shenzhen-Hong Kong Innovation Center, to accommodate Hong Kong youths who start their business in the free trade area.

As of March this year, the E-hub has incubated 446 startups, among which 227 have been started by Hong Kongers.

Chan Seng, a Hong Kong entrepreneur and CEO of Ekstech, said that his company raised the first round of financing one year after settling in the E-hub in Qianhai. Chan’s success in Qianhai has attracted more than 200 Hong Kong startups and enterprises to various incubators in Shenzhen. He said he now spent more time bridging Hong Kong youths who are interested in starting business in Shenzhen and the incubators.

R-Guardian is another Hong Kong-funded high-tech startup which found success in Qianhai. According to its founder, Kwok Wai-keung, R-Guardian finished the second round of financing last year and the company is now worth an estimated 100 million yuan. “I have confidence in Qianhai for the development of my company.”

Kwok said he’s been looking forward to the second phase of the E-hub, which is scheduled to be put into use later this year, as it will greatly enhance the business environment and conditions for more startups.

“Qianhai will spare no efforts to create a business-friendly environment, which introduces business rules and standards of Hong Kong and Macao, to attract more Hong Kong and Macao youths to work and start business here,” said Wang.