Qianhai – a new dream city in China

Qianhai – a new dream city in China

Agency News

Shenzhen (China), Sep 1: Move over Shanghai and Shenzhen, China's next offering as a strong emerging economic hub is certainly Qianhai.

''We are in the midst of state of the art planning and adequate use of wisdom and experience for the last few years to make Qianhai the next happening place in China’s development march,'' a senior Chinese official has said here.

Qianhai is set to be the 'future' power of urban development in the country, the official told a group of visiting journalists from India and Nepal.

Notwithstanding the recent 'Hong Kong protests' and related developments, authorities and other stakeholders say consistent efforts are on for close coordination and development cooperation between Guangdong region in China and Hong Kong under the framework of ''One Country and Two Systems''.

Here, the idea has always been to promote the optimization and upgrading of industrial structure with the development of modern service industry keeping right balance with ecology and thus 'play an exemplary role in building a new pattern of Chinese opening, to transform the economic development method.

The planning of development of Qianhai under the 'General Development Plan of Shenzhen-Hong Kong Cooperation on Modern Service Industries in Qianhai Area' as conceived in 2010 and approved by the powerful State Council has always pledged to give full play to the advantages and the role of Hong Kong as the ''international economic centre''.

The underlying theme has been to promote the close cooperation and integration development with Hong Kong through Qianhai – Guangdong-Hong Kong cooperation platform, and gradually build Qianhai Area into Guangdong Modern Service Industry region. The city has developed information services, financial services, other development infrastructures to create a convenient working and living environment.

''Capitalising on its superior sea location, Qianhai is developing as one of the most happening Free Trade region,'' the official said, adding that the biggest advantage for the city has been its location. The city of Shenzhen, which is where 'Qianhai region' is located, is one of the regions that has the most rapid economic development in the Pearl River Delta and mainland China.

Moreover, the boost to investment process has been given when it was announced that eligible companies registered in Qianhai are subject to a 15 per cent preferential corporate income tax rate and professionals employed in Qianhai were ‘exempted’ from personal income tax. Answering questions, he said the policy makers and other stakeholders are aware of the fact that there is a need to 'integrate' culture, ecology with development and accordingly projects are designed to take care of these issues.
He tried to explain that ''Qianhai has laid emphasis on a people oriented lifestyle to establish a harmonious relationship between common masses, architecture and nature''.

In Qianhai, thus the green spaces are never more than 100 metres away. The public transport is also within 200 metres at virtually every strategic points in the city, the official said. The Qianhai Bay Free Trade Port Zone is one of the vital components of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, they said.

Adequate measures were also taken to foster cross-border financing especially between Hong Kong and Qianhai and that also focusing on cross-border Yuan flow and cross-border insurance and wealth management products. (UNI)