As September 6 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, the area is showcasing significant economic growth and institutional progress. Just days earlier, on August 26, Qianhai celebrated its 16th anniversary, providing a dual milestone to reflect on its development over the past five years.
According to the Authority of Qianhai, since its expansion in 2021, the regional GDP has surged from 175.57 billion yuan to 331.81 billion yuan, while total imports and exports have grown from 378.05 billion yuan to 757.43 billion yuan—both figures nearly doubling or more than doubling. These numbers underscore the scale of institutional innovation that has taken place. As a frontline of China's opening-up, Qianhai has introduced and refined policies, with 111 institutional innovation outcomes now replicated and promoted nationwide. The General Administration of Customs has implemented two rounds of dedicated support policies to address Qianhai's development challenges, including pioneering a customs model featuring 'direct access at the first line and smart connected supervision,' which allows goods to be directly released at the port with declaration and inspection after arrival at the comprehensive bonded zone. This has reduced the number of required customs declaration items from dozens to just over ten.
The progress in Shenzhen-Hong Kong cooperation is equally notable. The number of Hong Kong-funded enterprises has grown from over 8,000 in 2021 to more than 11,000 today. Technology commercialization platforms established by five Hong Kong universities have begun operations in Qianhai, incubating 193 projects in total. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, has witnessed these changes firsthand. He noted that more people from Hong Kong have been coming to Qianhai over the past five years. '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 sci-tech innovation company Synovate Technologies, highlighted the benefits of setting up at the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub in 2019. '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 has obtained around 50 independent intellectual property rights and was named to the Forbes China Emerging Tech T30&30 Selection this year. Qianhai is now home to 532 key AI enterprises, including SmartMore Information Technology, Pony.ai, and Fengyi Technology, among a growing group of companies that have established and expanded their businesses there.
For Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, the most notable sign of Qianhai's growing international reach was the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation at the end of July. His center is the only national-level Internet exchange center in South China. In the five years since its establishment, it has served more than 270 enterprises. Its Shenzhen-Hong Kong Cross-Boundary Data Validation Platform has helped mainland SMEs secure more than HK$260 million in financing in Hong Kong. The secure and convenient cross-border data channel has benefited more than 300,000 Hong Kong residents, making it easier for them to transfer medical records across the border after receiving treatment in Shenzhen.
Five years into its expansion, Qianhai has established a clearer path toward institutional opening-up. Every breakthrough reflects the same underlying approach: turning institutional differences into new opportunities created by opening-up, and translating the alignment of rules from paper into practice. 'Qianhai, Pulse with the World' is more than a city slogan; it is a vivid testament to the five years of reform and opening-up in this dynamic part of Shenzhen.
