The Dream Factory of China

Source :Shenzhen Daily

Innovation-driven development is not merely a slogan for Qianhai after 12 years’ growth, but also its main competitiveness in terms of attracting investors. As more foreign and Hong Kong-funded enterprises settle in the area, the innovation and market potential it generated have further improved confidence in their operations.

WeLab, a Hong Kong-funded company focusing on digital finance, credits its rapid expansion to Qianhai’s business environment and the favorable policies it offers them.

Pan Rui, president of WeLab in China, said they “caught up a good time” when they relocated to Qianhai in 2014. “We ‘grew up’ with Qianhai and have benefited from its entrepreneurial environment, transportation facilities and talent pool,” Pan said. “We have grown into a group with 700 business partners across the world and over 500 million registered users.”

Pan said since 2014, her company has made its foray into the markets in Indonesia and other Southeast Asian countries. As a technology-driven enterprise, WeLab’s move to Qianhai has made it easier to hire the talents it needs.

“We now have set up two high-tech companies in Qianhai, which we believe is the technology and innovation-driven center that serves not only the Guangdong-Hong Kong-Macao Greater Bay Area, but also companies that have expanded their business overseas,” Pan said.

In addition to companies in the innovation sector such as Pan’s, enterprises such as the Shangri-La Group have set up their new brands or innovation branches in Qianhai to test the new business mode.

JEN, a young and lifestyle-focused brand from Shangri-La, which will open in the last quarter of 2022, is regarded as a good fit with Qianhai in the eyes of Ulrich Jablonka, the hotel’s newly appointed general manager.

“Qianhai is like a melting pot that attracts people from various places with different backgrounds,” said Jablonka, a German hotelier.

Jablonka said with 369 rooms and more spaces and experiences to offer, the hotel is ready to be a part of Qianhai and help enhance the area’s innovation vibe.

The King’s School Shenzhen International is also planning to open its new primary and secondary schools in Qianhai’s Guiwan area in autumn.

Geoff Cocksworth, founding executive principal of the Shenzhen school, said they thought Qianhai is “perfect” for them to set up their first overseas school because of its geographic advantage — close to Hong Kong — and innovation features.

“We want to be a part of Qianhai and work together with educators there to bring talent in and bring an all-rounded education for the society,” said Cocksworth.

Aside from preparing children to deal with changes and build up their self-confidence and be proud of their culture, Cocksworth said they also will build labs for students to learn about robotics, AI and space knowledge to inspire them for innovation.

According to data released last month, in the first quarter of 2022, over 5,900 new enterprises were registered in Qianhai. Among them, 163 were foreign and Hong Kong-funded enterprises. The actual use of foreign capital reached US$1.368 billion, up 108.42% from the same period last year. In 2021, the number of Hong Kong-owned companies increased by 156% from a year ago.