Page 148 - 2020 Special Report on the State of Business in South China
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Cooperation Zone, which will create cluster and In the first 10 months of 2018, 3,018 Hong
synergy effects. The three areas encompass a total Kong-owned enterprises registered in the Qianhai
area of 426 hectares, of similar size to the Hsinchu Cooperation Area, which have increased to 10,120
Science Park in Taiwan. It will occupy sufficient with registered capital of Rmb1,164.468 billion.
space to be developed into a global IT hub.
Summary
On October 10, 2018, the Chief Executive of
the Hong Kong Special Administrative Region, Lin As an economy with the highest degree of
Zhengyue, released the second policy address of freedom, Hong Kong will consolidate and enhance
her tenure, stating that construction of the "Hong its position as a business hub in international
Kong-Shenzhen Innovation and Technology Park" finance, shipping and trade, and adhere to the
in the Lok Ma Chau Loop area had begun in June liberalization of trade and investment. Hong
2018. The goal is to provide the first land section Kong will focus on advancing the development
with facilities to be built no later than 2021. of finance, commerce, trade, logistics and
professional services towards high-end and
Qianhai Shenzhen-Hong Kong Modern high value-added. In addition, Hong Kong will
Service Industry Cooperation Area cooperate with Shenzhen, Dongguan and other
places to develop advanced manufacturing, explore
In order to promote construction of the "re-industrialization" and cultivate pillar industries.
Qianhai Shenzhen-Hong Kong Modern Service Hong Kong will also play an important role in the
Industry Cooperation Area, deepen cooperation AIIB and the “Belt and Road Initiative”.
with Hong Kong and develop modern service
industries, on May 7, 2019, the Justice Bureau of
Shenzhen Municipality released the “Regulations
on the Qianhai Shenzhen-Hong Kong Modern
Service Industrial Cooperation Area of the
Shenzhen Special Economic Zone (Request for
Comments)”, including:
- In terms of opening construction, the
Qianhai Shenzhen-Hong Kong Modern Service
Industry Cooperation Area Authority of Shenzhen
Municipality should: (i) create a Shenzhen-Hong
Kong cooperation system and mechanism in the
field of development and construction, and support
engineering construction professionals and Hong
Kong enterprises in participating in the development
and construction of the Qianhai Cooperation Area; (ii)
specify the eligibility of the Hong Kong management
model for engineering projects in Hong Kong when
constructing projects in the Qianhai Cooperation
Area; and (iii) explore the implementation of
supervision and evaluation mechanisms for related
Hong Kong engineering projects.
- In terms of industrial development,
qualification restrictions and market access
conditions for Hong Kong and Macao enterprises
to engage in modern service industries in the
Qianhai Cooperation Area will be relaxed or
abolished as appropriate.
148
synergy effects. The three areas encompass a total Kong-owned enterprises registered in the Qianhai
area of 426 hectares, of similar size to the Hsinchu Cooperation Area, which have increased to 10,120
Science Park in Taiwan. It will occupy sufficient with registered capital of Rmb1,164.468 billion.
space to be developed into a global IT hub.
Summary
On October 10, 2018, the Chief Executive of
the Hong Kong Special Administrative Region, Lin As an economy with the highest degree of
Zhengyue, released the second policy address of freedom, Hong Kong will consolidate and enhance
her tenure, stating that construction of the "Hong its position as a business hub in international
Kong-Shenzhen Innovation and Technology Park" finance, shipping and trade, and adhere to the
in the Lok Ma Chau Loop area had begun in June liberalization of trade and investment. Hong
2018. The goal is to provide the first land section Kong will focus on advancing the development
with facilities to be built no later than 2021. of finance, commerce, trade, logistics and
professional services towards high-end and
Qianhai Shenzhen-Hong Kong Modern high value-added. In addition, Hong Kong will
Service Industry Cooperation Area cooperate with Shenzhen, Dongguan and other
places to develop advanced manufacturing, explore
In order to promote construction of the "re-industrialization" and cultivate pillar industries.
Qianhai Shenzhen-Hong Kong Modern Service Hong Kong will also play an important role in the
Industry Cooperation Area, deepen cooperation AIIB and the “Belt and Road Initiative”.
with Hong Kong and develop modern service
industries, on May 7, 2019, the Justice Bureau of
Shenzhen Municipality released the “Regulations
on the Qianhai Shenzhen-Hong Kong Modern
Service Industrial Cooperation Area of the
Shenzhen Special Economic Zone (Request for
Comments)”, including:
- In terms of opening construction, the
Qianhai Shenzhen-Hong Kong Modern Service
Industry Cooperation Area Authority of Shenzhen
Municipality should: (i) create a Shenzhen-Hong
Kong cooperation system and mechanism in the
field of development and construction, and support
engineering construction professionals and Hong
Kong enterprises in participating in the development
and construction of the Qianhai Cooperation Area; (ii)
specify the eligibility of the Hong Kong management
model for engineering projects in Hong Kong when
constructing projects in the Qianhai Cooperation
Area; and (iii) explore the implementation of
supervision and evaluation mechanisms for related
Hong Kong engineering projects.
- In terms of industrial development,
qualification restrictions and market access
conditions for Hong Kong and Macao enterprises
to engage in modern service industries in the
Qianhai Cooperation Area will be relaxed or
abolished as appropriate.
148
