Five years after the promulgation of the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the area has emerged as a beacon of institutional innovation and cross-border cooperation. The Qianhai Authority announced on August 20 that regional GDP has surged from 175.57 billion yuan in 2021 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. These numbers underscore the scale of institutional innovation that has been replicated nationwide, with 111 outcomes now promoted across China.
The expansion has been marked by pioneering customs reforms. 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 customs declaration items from dozens to just over ten, streamlining trade flows significantly. The General Administration of Customs has introduced two rounds of dedicated support policies to address Qianhai's specific development challenges, further cementing its role as a frontrunner in opening-up.
Shenzhen-Hong Kong cooperation has deepened visibly. 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, 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.'
Hong Kong-funded companies are thriving. Jacqueline Ho, CEO of Synovate Technologies, a sci-tech innovation firm, said the company set up at the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub in 2019 and has benefited from talent recruitment services. '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.
Qianhai's international reach is expanding. In late July, the China Center for Promoting APEC Data Cross-Border Flow Cooperation was established, a milestone for Lin Zhifeng, General Manager of China (Qianhai) Internet Exchange. The center has served more than 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. The cross-border data channel has benefited over 300,000 Hong Kong residents, simplifying medical record transfers after treatment in Shenzhen.
Five years into its expansion, Qianhai has carved a path toward institutional opening-up. Every breakthrough reflects a consistent approach: turning institutional differences into new opportunities and translating rule alignment into practice. 'Qianhai, Pulse with the World' is more than a slogan; it is a testament to the area's dynamic reform and opening-up over the past five years.
