The Dream Factory of China

Source :Qianhai Communication Center

Despite the COVID-19 outbreak, the economic development in Qianhai has maintained a positive growth momentum and the effect of the outbreak has been minimized due to a series of efforts made by the Qianhai Cooperation Zone Authority.

“We have received the urgently needed medical supplies from the Qianhai authority when resuming work and production. In addition, we have also received a subsidy of about 300,000 yuan (US$42,415)  from the authority in terms of bonded warehouse rent exemptions, customs clearance fee reductions and transportation allowances,” said Shen Qiya, chairman of the board of E-Matou, a Qianhai-headquartered cross-border e-commerce company.

This is one of the favorable policies that the Qianhai authority has rolled out to help enterprises in the free trade area through the epidemic and resume work and production.

According to the policies, a total of about 110 million yuan in subsidy has been offered to the enterprises; a single enterprise can receive a subsidy of up to 5 million yuan.

In addition, a total of 71 enterprises have been covered by a free insurance program worth up to 5 million yuan.

While addressing the difficulties for the enterprises, Qianhai has also made achievements in attracting investment and speeding up infrastructure construction.

From January to April, 82 new enterprises have invested or settled in Qianhai, with a total registered capital of about 28 billion yuan.

As of May, Qianhai has utilized foreign capital of US$20.7 billion, a year-on-year increase of 46.5 percent.

In the first two quarters of this year, construction started on 22 new projects with a total investment of 42.9 billion yuan in Qianhai.

The landscape and infrastructure in Qianhai will be further improved as constructions on 235 projects speeds up this year. The No.3 Landscape Bridge and the Yueliangwan-Guimiao Road Interchange will be put into service before year end. The Harrow International School will also open for students in September.

Qianhai will demonstrate a brand new urban image with its improved urban functions to celebrate the 40th anniversary of the Shenzhen Special Economic Zone and the 10th anniversary of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.