Qianhai to be developed as a service industry center

Qianhai to be developed as a service industry centerState council confirmed that Qianhai in Shenzhen will have independent planning power, since the government intended the Qianhai area to be a demonstration plot that will showcase cooperation between Guangdong and Hong Kong.

State council is planning the area’s development planning to be directly subjected to the administration of the central government, rather than giving the responsibility to Shenzhen or Guangdong governments. Three other areas were given the same privilege with Qianhai, namely Shanghai Pudong New Zone, Tianjin Binhai New Zone and the Zhuhai Hengqin New Zone.

This will remove all political and legal obstacles in the area in order for them to develop fully. Qianhai will be entitled to policies used to explore other policies that concerns taxes, currency and justice administration. Shenzhen then will work with Hong Kong to develop the Qianhai to become a foremost service industry center.

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