As Qianhai marks the fifth anniversary of the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, new data reveals that the area's economic output and trade have nearly doubled since its expansion in 2021. According to the Authority of Qianhai, regional GDP rose from 175.57 billion yuan to 331.81 billion yuan, while total imports and exports grew from 378.05 billion yuan to 757.43 billion yuan. These figures underscore the transformative impact of institutional innovation and cross-border collaboration.
The expansion, which took effect on September 6, 2021, was designed to deepen ties between Shenzhen and Hong Kong. Since then, Qianhai has introduced 111 institutional innovation outcomes that have been replicated nationwide. The General Administration of Customs has rolled out two rounds of dedicated support policies, including a pioneering customs model featuring "direct access at the first line and smart connected supervision." This allows goods to be released directly at the port, with declaration and inspection occurring after arrival at the comprehensive bonded zone, significantly streamlining procedures by reducing required declaration items from dozens to just over ten.
The growth in Shenzhen-Hong Kong cooperation is palpable. The number of Hong Kong-funded enterprises has risen from over 8,000 in 2021 to more than 11,000 today. Technology commercialization platforms established by five Hong Kong universities have also begun operations, incubating 193 projects. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, noted the increasing influx of Hong Kong people. "There's a saying in Shenzhen: once you come, you're a Shenzhener. I felt that sense of belonging from my very first day," he said. "Qianhai has created an environment where Hong Kong and Shenzhen are deeply intertwined. Even while living and working in Qianhai, you can still feel the atmosphere of Hong Kong, so I had no difficulty settling in."
Jacqueline Ho, CEO of Hong Kong-funded tech firm Synovate Technologies, highlighted the benefits of setting up in Qianhai. "Qianhai has helped us connect with upstream and downstream partners such as Siemens, allowing us to establish a foothold in the hard-tech sector in a short time," she said. The company, which has secured around 50 independent intellectual property rights and earned a spot on the Forbes China Emerging Tech T30&30 Selection, exemplifies the innovative ecosystem. Qianhai is now home to 532 key AI enterprises, including SmartMore Information Technology, Pony.ai, and Fengyi Technology.
Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, pointed to the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation at the end of July as a sign of Qianhai's growing international reach. The center, the only national-level Internet exchange in South China, has served over 270 enterprises. Its Shenzhen-Hong Kong Cross-Boundary Data Validation Platform has helped mainland SMEs secure over HK$260 million in financing, while its cross-border data channel has benefited more than 300,000 Hong Kong residents by facilitating the transfer of medical records.
As Qianhai enters its sixth year post-expansion, the path toward institutional opening-up is clearer. Each breakthrough reflects a consistent approach: turning institutional differences into opportunities and translating rule alignment from paper into practice. "Qianhai, Pulse with the World" is more than a slogan; it is a vivid testament to the area's reform and opening-up over the past five years.
