As Qianhai commemorates the fifth anniversary of its expansion and the 16th anniversary of its establishment, the release of new economic data underscores the area's remarkable growth and its evolving role as a frontier for China's institutional opening-up. According to the Qianhai Authority, since the 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 or more than doubling. These numbers reflect not just economic expansion but a broader strategy of policy innovation and cross-border integration.
Behind these figures lies a substantial scale of institutional innovation. Qianhai has pioneered various reforms, with 111 institutional innovation outcomes now replicated and promoted nationwide. Notably, the General Administration of Customs has introduced two rounds of dedicated support policies, including a first-in-China pilot for a 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 deferred until after arrival at the comprehensive bonded zone, reducing the number of required customs declaration items from dozens to just over ten. Such streamlined processes are crucial for enhancing trade efficiency and positioning Qianhai as a global logistics hub.
The progress in Shenzhen-Hong Kong cooperation is particularly 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 started operations, incubating 193 projects. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, has witnessed this transformation firsthand. He notes the growing influx of Hong Kong people, saying, "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." This sentiment reflects the seamless integration that Qianhai aims to achieve.
For businesses, Qianhai's supportive ecosystem has been instrumental. Jacqueline Ho, CEO of Synovate Technologies, a Hong Kong-funded sci-tech company, highlights 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 says. The company has secured 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, demonstrating its appeal to cutting-edge industries.
International connectivity has also advanced. Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange, points to the establishment of the China Center for Promoting APEC Data Cross-Border Flow Cooperation at the end of July as a significant milestone. The center, the only national-level Internet exchange in South China, has served over 270 enterprises in five years. Its Shenzhen-Hong Kong Cross-Boundary Data Validation Platform has helped mainland SMEs secure more than HK$260 million in financing in Hong Kong, and its secure cross-border data channel has benefited over 300,000 Hong Kong residents by easing the transfer of medical records after treatment in Shenzhen.
These achievements highlight Qianhai's approach to institutional opening-up: transforming institutional differences into opportunities and translating rule alignment into practice. The slogan "Qianhai, Pulse with the World" encapsulates this vision, reflecting the area's dynamic integration into the global economy. As Qianhai enters its next phase, its model of reform and cooperation may serve as a blueprint for other regions in China and beyond.
