Five years after its expansion, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is entering a new phase of institutional opening-up, marked by nearly doubled economic indicators and deepened cross-border integration. The zone, which celebrated its 16th anniversary on August 26, has seen its regional GDP rise from 175.57 billion yuan in 2021 to 331.81 billion yuan, while total imports and exports grew from 378.05 billion yuan to 757.43 billion yuan, according to the Qianhai Authority's announcement on August 20.
Behind these figures lies a scale of institutional innovation that has positioned Qianhai as a frontline of China's opening-up. The zone has introduced and refined policies that have resulted in 111 institutional innovation outcomes being replicated and promoted nationwide. The General Administration of Customs has introduced two rounds of dedicated support policies to address development challenges. Qianhai pioneered a customs model featuring "direct access at the first line and smart connected supervision," allowing goods to be released directly at the port with declaration and inspection after arrival at the comprehensive bonded zone. This has streamlined customs declarations from dozens of items to just over ten.
The progress in Shenzhen-Hong Kong cooperation is equally visible. 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. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, noted the growing 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."
For Jacqueline Ho, CEO of Hong Kong-funded tech company Synovate Technologies, the benefits are tangible. The company, which set up at the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub in 2019, has leveraged Qianhai's talent recruitment services and connections with partners like Siemens. "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. Synovate has obtained around 50 independent intellectual property rights and was named to the Forbes China Emerging Tech T30&30 Selection this year. Qianhai now hosts 532 key AI enterprises, including SmartMore Information Technology, Pony.ai, and Fengyi Technology.
Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, highlighted the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation in late July as a sign of Qianhai's growing international reach. The exchange, the only national-level Internet exchange center in South China, has served more than 270 enterprises in five years. Its Shenzhen-Hong Kong Cross-Boundary Data Validation Platform has helped mainland SMEs secure over HK$260 million in financing in Hong Kong. The cross-border data channel has benefited more than 300,000 Hong Kong residents, simplifying the transfer of medical records after treatment in Shenzhen.
Five years into its expansion, Qianhai has established a clear path toward institutional opening-up. Each breakthrough reflects a consistent approach: turning institutional differences into new 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 five years of reform and opening-up in this dynamic part of Shenzhen.
