Qianhai welcomes global businesses with upgraded incentives

SHENZHEN, China, Nov. 9, 2022 /PRNewswire/ -- With deepening reform and an improving business environment, Qianhai has once again attracted the attention of global businesses and investors. At the 2022 Qianhai Global Investment Promotion Conference held on the afternoon of November 8, a number of Fortune 500 companies, Hong Kong businesses, state-owned enterprises, and other industrial bellwethers signed agreements to set up offices in Qianhai. The expected total investment exceeded 120 billion yuan, according to the Authority of Qianhai. This has fully demonstrated the conference theme "Invest in Qianhai, Building a Winning Future", along with the economic vitality, policy appeal, and driving forces of innovation in Qianhai.

After continuous institutional innovations, the business environment in Qianhai has been acknowledged by business entities worldwide. "Qianhai not only possesses a superior talent pool, but also provides companies with comprehensive support," said Zhang Yangqing, General Manager of Merchants Union Consumer Finance Co., Ltd. "There's no better place than Qianhai with regards to Shenzhen-Hong Kong cooperation," stated Dr. Sunny Siu, a Hong Kong entrepreneur and founder of Jaguar Micro.

Alvin Zhong, Managing Director of Colliers Shenzhen, commented in an interview, "Qianhai has one of the top business environments around the globe. Qianhai's policies, services, market, and prospects are meaningful to companies' future business plans."

According to the Institutional Innovation Index for China Pilot Free Trade Zones released by Sun Yat-sen University, Qianhai ranks first in the country in terms of system innovation. Furthermore, a third-party assessment by Deloitte also shows that Qianhai is a global leader in such parameters as starting a business and access to electricity.

As a reform pioneer, Qianhai has never stopped making progress. At the conference, the Qianhai Global Service Providers (QGSP) Program was launched to actively attract and cultivate national top 20 or global top 50 businesses in eight fields, including modern finance, business & trade, logistics, information services, etc. The goal of the program is to build a cluster of global service providers with the world's top 500 headquarters companies as the pillars and SME industry leaders in specialized fields as the main body.

Qianhai vows to render these businesses an industrial support fund of no less than one billion yuan and an industrial space of over 200,000 square kilometers every year. Its goal is to introduce or foster more than 300 modern service providers from around the world and achieve an added value of over 100 billion yuan in the modern service sector by 2025. Qianhai will make every effort to build a core engine for the modern service industry in the Greater Bay Area and become an important producer service center in the Asia-Pacific region.

At the conference, Qianhai extended its invitation to global service providers in eight fields with business team incentives of tens of millions of yuan and an appealing 15% corporate income tax rate.

Companies in Qianhai have already felt the zone's passion for promoting investment. "This year, we officially moved our office back to Qianhai," said Zhou Xiangdong, Chief Financial Officer and Board Director of Shenzhen Hive Box Technology Co., Ltd. "On the basis of what Shenzhen provides, Qianhai offers more support for businesses in terms of finance, taxation, and administrative approval."

Wang Peiying, founder of DVF Private Equity Fund Management Co. Ltd., stated, "Seeing that a number of international financial companies are thriving in Qianhai, DVF also intends to settle here as soon as possible."

According to its plan, Qianhai will also create a series of clusters, featuring venture capital investment, natural gas trading, cross-border e-commerce, and tax services.

"Qianhai is wide open, equipped with a global platform that facilitates insight and information exchange. It will become a hub for specialized service industries in the future," Alvin Zhong added. "Qianhai is undoubtedly a desirable destination for doing business."

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SOURCE Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone