Qianhai’s achievements in the last nine years

Taking institutional innovation as its core task, Qianhai has forged the distinctive Qianhai Model, which covers the fields of investment facilitation, trade facilitation, financial innovation, pre- and post-event regulation, rule of law innovation and talent management reform.

By the end of July, Qianhai had made 469 institutional innovations over the past nine years, 50 of which were duplicated and promoted nationwide, along with 69 across Guangdong and 122 citywide. More than 160 of the area’s institutional innovations have been duplicated and promoted in Shanxi Province. An annual evaluation report by the Guangzhou-based Sun Yat-sen University has ranked Qianhai and Shekou first among the country’s free trade zones and areas in terms of institutional innovation achievements for two consecutive years.

In the past nine years, Qianhai had rolled out more than 100 Shenzhen-Hong Kong cooperation policies. The favorable policies have attracted a large number of Hong Kong enterprises. As of July, a total of 11,555 Hong Kong-funded enterprises with a registered capital of 1,234.36 billion yuan (US$174 billion) had registered in Qianhai. Three hundred and eighty-eight startups, including 190 international entrepreneurial teams, have been hatched at the Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub （E-hub）. They have received a total of 1.5 billion yuan in investment.

The financial sector is also developing rapidly. A financial risk prevention and control system was initially constructed in Qianhai. As of July, there were 245 licensed financial enterprises in the Qianhai & Shekou Free Trade Area, with more than 50,000 finance-related service institutions involved in commercial factoring, financing and leasing. In the first half of this year, the financial industry in the area has achieved tax revenue of 14.15 billion yuan. Qianhai has built a high-end, diversified and modern industrial system dominated by modern finance, which makes it an important cross-border financial center in the country.

As the only demonstration zone for the construction of socialist rule of law approved by the Central Government, Qianhai has initiated a series of reform measures in terms of the judicial system and public legal services in the past nine years, and more than 90 innovations have been made in the field of the rule of law.

For example, Qianhai has pioneered the Hong Kong assessor system and the Hong Kong mediator system to provide assistance to the trial of 4,624 business cases involving Hong Kong, Macao and Taiwan matters. In July 2016, the Qianhai court’s first batch of Hong Kong people's assessors were sworn in. As of June 2019, the Hong Kong assessors had participated in 386 cases, which effectively improved the professional level of the trial of foreign-related cases.

Litigants from Hong Kong and overseas are also allowed to apply Hong Kong laws to the trial of their cases if Hong Kong or overseas matters are involved. To date, parties to 44 economic disputes have chosen to apply Hong Kong law to their cases.

Urban construction has also made huge progress. Construction on 18 new buildings started this year, with a total investment of about 25 billion yuan. The main structures of 193 buildings have been finished, of which 147 have been built and delivered, covering a construction area of 1.96 million square meters. Twenty seven main trunk roads, such as Linhai Boulevard and Binhai Boulevard, have been completed, marking the initial formation of a backbone road network.

Since the very beginning of the construction of the Qianhai area, a total of 150 billion yuan has been invested in fixed assets.