Five years after the expansion of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the area has unveiled a new chapter in institutional opening-up, marked by significant economic growth and deepened integration with Hong Kong. Since the promulgation of the Qianhai Plan in September 2021, Qianhai's 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, according to the Qianhai Authority's announcement on August 20.
The expansion has been accompanied by a wave of institutional innovation, with 111 outcomes now replicated and promoted nationwide. Notably, Qianhai pioneered a customs model featuring "direct access at the first line and smart connected supervision," which allows goods to be released directly at the port, with declaration and inspection after arrival at the comprehensive bonded zone. This streamlined process has reduced the number of required customs declaration items from dozens to just over ten. The General Administration of Customs has also introduced two rounds of dedicated support policies to address Qianhai's development challenges.
Shenzhen-Hong Kong cooperation has flourished, with the number of Hong Kong-funded enterprises growing from over 8,000 in 2021 to more than 11,000 today. Technology commercialization platforms established by five Hong Kong universities have started operations in Qianhai, incubating 193 projects. Gary Wong Chi-him, a Hong Kong resident working at the Qianhai Authority, notes 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. Qianhai has created an environment where Hong Kong and Shenzhen are deeply intertwined."
Jacqueline Ho, CEO of Hong Kong-funded tech company Synovate Technologies, highlights the benefits of Qianhai's talent recruitment services and connections with partners like Siemens, which helped 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 now hosts 532 key AI enterprises, including SmartMore Information Technology, Pony.ai, and Fengyi Technology.
The area's international reach is also expanding. 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 in late July as a significant milestone. The center, the only national-level Internet exchange center in South China, has served over 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, while a cross-border data channel has facilitated medical record transfers for over 300,000 Hong Kong residents.
As Qianhai marks its fifth anniversary of expansion, it has established a clear path toward institutional opening-up, 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 testament to the five years of reform and opening-up in this dynamic part of Shenzhen.
