The Dream Factory of China

Source :Qianhai Communication Center

Shenzhen Pangu Environmental Protection Technology Co. Ltd., a startup founded in Qianhai in 2015, has grown into a Shenzhen-level high-tech firm with national high-tech recognition in the second year after its setup.

Back in 2015, many of the infrastructure facilities in the free trade area were still under construction, recalled Zhao Jianshu, chairman of the board of the Pangu company, adding that there weren’t many enterprises in Qianhai at that time. Zhao’s Pangu was one of the 14 startups that settled in Qianhai in 2015.

“In recent years, the infrastructure has undergone tremendous improvement, attracting a large number of enterprises and startups to settle here,” he said.

Zhao said his company wouldn’t have achieved the success it has now without the business and innovation friendly environment in the free trade area, in addition to the favorable measures and policies that the Qianhai authority has adopted to support the development of the startups and enterprises.

Zhao’s company has been granted dozens of patents over the past five years. In 2017, the Pangu company was certified as one of the National High-tech Firms and Shenzhen High-tech Enterprises.

The Qianhai authority has been committed to creating a business friendly environment to boost the growth of the enterprises in the free trade area since its inauguration in 2015.

A series of trade and investment facilitation measures such as the online “one-stop” registration service for foreign-funded enterprises and the easy business registration service for businesspeople from Hong Kong and Macao have been introduced by the Qianhai authority over the past years.

Qianhai was ranked 51st in the 2017 world business environment list by PricewaterhouseCoopers, then jumped to No. 31 in 2018 and No. 23 last year.

Official statistics shows that 560 institutional innovations have been introduced in Qianhai over the past five years as of May, among which 50 have been promoted nationwide, 69 in Guangdong Province and 165 in Shenzhen.