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September 13, 2021

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Qianhai plan to boost HK development

The newly-released Qianhai plan draws up a blueprint for Hong Kong’s long-term development, Paul Chan, financial secretary of the Hong Kong Special Administrative Region government, said yesterday.

The central authorities recently issued a new plan for comprehensively deepening the reform and opening up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. The total area of the zone will be expanded to 120.56 square kilometers from 14.92 sq km.

With the expanded cooperation zone, Hong Kong will have broader development room and land shortage woes that have long been hindering the growth of Hong Kong’s industries will also be eased, Chan said in an online article.

Chan believes Hong Kong’s pillar sectors will benefit from the plan as there will be wider opening up to the city’s service industries and better connectivity for cooperation in finance, technology and innovation among other areas.

With the new plan, Hong Kong will be able to gradually realize the upgrading of its industrial structure, Chan said.

The youth of Hong Kong who study or work in Qianhai will also enjoy more favorable policies and have greater opportunities, he noted.


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