During a research tour to Qianhai on July 26, representatives from various firms operating in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone shared their remarkable progress and impressive achievements.

In 2019, the Qianhai Authority introduced a strategic initiative to entice firms with registration in Qianhai but operation elsewhere in Shenzhen to return. The initiative aimed to attract businesses back to the zone.

Responding to this plan in 2021, Yicun Songling Venture Capital made the decision to relocate its office to Qianhai.

As a result, the company has benefited from significant reductions in office rent, while qualified talents have received relevant allowances. This strategic business relocation has also provided the company with the advantage of aligning with its development directions when selecting potential startups and investment projects.

According to Zheng Wenwen, vice general manager of Yicun Songling, the company has invested in approximately 100 projects in the Pearl River Delta Region. In addition, it has successfully introduced six tech startups to Qianhai.

Similarly, Chan Xeron, an entrepreneur from Hong Kong, has chosen to set up his fifth firm, Wingo Technology Shenzhen Co., in Qianhai this year.

Recognizing the immense market demand for metaverse-related products on the mainland, Chan is optimistic about the tremendous opportunities that lie ahead for his company.

With Qianhai’s thriving ecosystem and supportive environment, Chan envisions significant growth potential and success for his firm in meeting the needs of the market.

“Qianhai’s all kinds of supportive policies for young Hong Kong companies and individuals such as office rent reductions, low-rent apartments and living allowances also encourage me to take root in the area to seek better development opportunities,”Chan said.