Page 134 - 2025 Special Report

2. As a pilot demonstration zone, upgrade the insurance institutions, shipping reinsurance and
opening up and functions of the national financial other businesses; promoting commercial banks
industry and cross-border RMB business innovation to establish technology branches and innovating
differentiated technology credit service models;
3. Create a reform and innovation pilot promoting financial technology innovation and
platform in the GBA regulatory tools in the capital market.

4. An opening up gateway to the world 29 New Plan to propel Qianhai into a new era
of integration and high-quality development
“30 measures” to boost Qianhai-Hong
Kong financial cooperation 30 In December 2023, the National Development
and Reform Commission released the Overall De-
In February 2023, the central finance velopment Plan for the Qianhai Shenzhen-Hong Kong
and monetary authorities and the People’s Modern Service Industry Cooperation Zone to out-
31
Government of Guangdong jointly promulgated line a visionary road map for Qianhai, with targets
the “Opinion on Providing Financial Support for the set to be achieved by 2025, 2030 and 2035.
Comprehensive Deepening Reform and Opening
Up of the Qianhai Shenzhen-Hong Kong Modern 1. By 2025, Qianhai aims to achieve
Service Industry Cooperation Zone”, which set out comprehensive connections and convergence
30 measures on financial reform and innovation, with the rules and mechanisms of Hong Kong and
covering financial services relating to people’s Macau, create a globally competitive business
livelihood, mutual access between financial environment, establish several 100-billion-yuan
markets, development of modern financial value industrial clusters, build an innovation
services industry, facilitation of cross-boundary system with multiple driving forces and create a
trade and financing and strengthening financial modern coastal new urban area.
regulatory co-operation.
2. By 2030, the convenience of Hong Kong
Among the measures, six are about deepening and Macau residents studying, working and living
financial cooperation between Shenzhen and in Qianhai will be significantly improved and the
Hong Kong and prioritizing financial innovation business environment of Qianhai will be globally
in the interest of people’s livelihood, such top tier.
as facilitating Hong Kong residents to open
mainland bank accounts and conduct credit 3. By 2035, Qianhai will serve as a new
financing, optimizing cross-border investment international trade center, a high-end shipping
and financing for Hong Kong companies and service center and a livable coastal residence
providing convenience for Hong Kong financial center, with a wealth of development experience
professionals to practice in Qianhai. available for duplication and reference by other
areas and cities.
In July, the government released 115
measures to further the above Opinion which According to the Plan, Qianhai will feature a
propose 23 specific tasks, including promoting spatial structure comprising a new urban center,
the establishment of a green finance public a green and vibrant coastal belt, two hub ports
service platform in Shenzhen; encouraging for international aviation and shipping and
enterprises from Shenzhen and Hong Kong to five zones for industrial development related
carry out financing leasing businesses such as to scientific and technological innovation,
aircraft, ships and automobiles in the Qianhai international finance, conventions and maritime
Cooperation Zone; encouraging and promoting economy, commercial trade and logistics and
advanced manufacturing.
29 Government site of Guangdong, http://www.gd.gov.
cn/zwgk/wjk/qbwj/yfb/content/post_3533834.html
30 Government site of Shenzhen, http://www.sz.gov. 31 https://qh.sz.gov.cn/sygnan/xxgk/xxgkml/zcfg/zzwj/
cn/cn/xxgk/zfxxgj/zwdt/content/post_10444994.html content/post_11063234.html

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