The Dream Factory of China

Source :Shenzhen Daily

A ceremony marking the signing of several major Shenzhen-Hong Kong cooperation projects between the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Authority and Hong Kong institutions and companies was held in Qianhai this morning.

This is an important step for Qianhai to achieve a deeper and broader Shenzhen-Hong Kong cooperation urged by the Chinese President Xi Jinping.

At the ceremony, the Qianhai authority signed memorandums of understanding (MOU) with the Hong Kong Coalition of Professional Services (HKCPS) and the Young Professionals Alliance (YPA). HKCPS is a nonprofit organization that has about 128,000 members including accountants, architects, dentists, lawyers and surveyors. Founded in 2012, YPA has over 1,500 members from the science and technology, law, culture, finance and education industries.

Through the cooperation, Qianhai plans to further promote its professional service abilities through utilizing Hong Kong’s advantages in the aforementioned fields. In the meanwhile, Hong Kong professionals are encouraged to work or start up businesses in Qianhai and conduct exchanges with their counterparts on the Chinese mainland to jointly contribute to the country’s overall development.

Qianhai will also offer a 400-million yuan (US$61.6 million) fund for the development of Shenzhen and Hong Kong youth in Qianhai, the establishment of was which also announced at the ceremony. The fund was jointly initiated by the Qianhai authority and the Goldford Financial Holdings and will be used to invest in high-tech startup projects of Hong Kong and Macao entrepreneurs, allowing them to actively participate in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

The Institute of Guangdong, Hong Kong and Macao Development Studies of Sun Yat-sen University also signed a MOU with the Qianhai authority. According to the MOU, the institute will establish a research center in Qianhai to provide national ministries and departments with reports and advice on the development of national strategies such as the constructions of the GBA, the pilot demonstration zone of socialism with Chinese characteristics, and pilot free trade zones.

The institute also plans establish a postdoctoral workstation and a doctoral internship and practice center in Qianhai to provide intellectual support for Qianhai’s development and opening up and Shenzhen-Hong Kong cooperation.

The financial cooperation between Shenzhen and Hong Kong is also expected to be deepened as more and more high-end Hong Kong-funded financial companies come to Qianhai.

At the ceremony, six supply chain companies from Hong Kong officially announced relocation of their business operations in the China Resources Financial Center in Qianhai, which will provide an office space of over 10,000 square meters for high-end financial companies and talent. At the event, the center was presented with a plaque of “Innovation Base for Shenzhen and Hong Kong Supply Chain Finance” by the Qianhai authority.

Covering a floor area of 19,500 square meters, the second phase of the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub) also announced an official start of operations at the event, which will provide more space for Hong Kong and Macao entrepreneurs.

As of November, 468 startups have been incubated at the E-hub, including 236 from Hong Kong, Macao, Taiwan, and overseas countries. They have received a total investment of 2.3 billion yuan.