The Dream Factory of China

Source :ShenzhenDaily

Qianhai saw robust economic growth in the first half of 2020, with four of its five main economic indicators reporting growth rates higher than the year-end targets, statistics released by the Qianhai authority showed at a meeting yesterday morning.

Tian Fu, member of the Standing Committee of Shenzhen Municipal Committee of the CPC and director of the Authority of China (Guangdong) Pilot Free Trade Zone Qianhai and Shekou Area, said at the meeting that the achievements were particularly inspiring considering that the COVID-19 global pandemic has dealt a severe blow to the world’s economy over the past few months.

Official statistics show that the added value of Qianhai-registered companies increased by 13.3 percent year on year in the first half of this year, while the added value of industrial, construction, wholesale, retail and catering, and service enterprises above designated scales in Qianhai grew by 21.4 percent. The actual use of foreign investment in the first six months reached US$2.889 billion, marking a 15.1 percent year-on-year increase. Qianhaiwan Bonded Port recorded a robust growth of 61.5 percent in imports and exports in the first six months of the year.

Tian Fu said Qianhai should spare no efforts to strengthen Shenzhen-Hong Kong cooperation and create a world-class business environment to help Qianhai enterprises enhance their global competitiveness.

He said creating a business-friendly environment for Shenzhen and Hong Kong-funded innovative enterprises and startups in Qianhai is also high on the Qianhai authority’s agenda for the second half of this year.

The Qianhai authority has rolled out 20 policies to stabilize the economy and address the difficulties that many enterprises faced in the pandemic over the past few months, including offering office rent subsidies and tax reductions.

Tian Fu told the meeting that more efforts should be made to push forward the infrastructure construction, including Qianhai International Conference Center and its surrounding landscaping, in the second half of this year. The Qianhai International Conference Center will be a new landmark in the free trade area.

In the first half of this year, construction has started on 22 major projects with a total investment of 4.3 billion yuan, and 20 urban roads and road sections have opened to traffic in Qianhai.

The Harrow International School and two other schools are expected to start enrolling students in September when the new academic year starts, offering about 1,000 school places.