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 Qianhai Authority has released data showing remarkable economic growth since its expansion in 2021. Regional GDP has risen 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 reflect the scale of institutional innovation that has positioned Qianhai as a frontline of China's opening-up.
Qianhai has introduced and refined policies that have led to 111 institutional innovation outcomes being replicated and promoted nationwide. The General Administration of Customs has implemented two rounds of dedicated support policies to address developmental challenges. Notably, Qianhai was the first in China to pilot a customs model featuring 'direct access at the first line and smart connected supervision,' allowing 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, streamlining trade processes and benefiting businesses operating in the zone.
The progress in Shenzhen-Hong Kong cooperation is equally significant. 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. These developments are creating a vibrant ecosystem for innovation and entrepreneurship, attracting talent and investment from across the border.
Individuals working in Qianhai have witnessed these changes firsthand. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, noted the increasing influx of people from Hong Kong over the past five years. He said, 'There's a saying in Shenzhen: once you come, you're a Shenzhener. I felt that sense of belonging from my very first day. 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.'
Businesses are also thriving. Jacqueline Ho, CEO of Hong Kong-funded sci-tech innovation company Synovate Technologies, which set up in the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub in 2019, credited Qianhai's talent recruitment services and connections with partners like Siemens for helping the company establish a foothold in the hard-tech sector. Synovate 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 others.
For Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation at the end of July marked Qianhai's growing international reach. The center is the only national-level Internet exchange center in South China and 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 secure 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 clearer path toward institutional opening-up. Each breakthrough reflects the approach of turning institutional differences into new opportunities and translating the alignment of rules into practice. The slogan '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.
