Qianhai Reveals Plans to Further Promote its Free Trade Zone
Riding on the limelight from the recent reforms done at the Shanghai free trade zone, Qianhai has also revealed their detailed plans that they hope to implement this year in the field of innovation, urban construction and cooperation with Hong Kong. The Spokesperson for the Qianhai Shenzhen HongKong Modern Service Industry Cooperation Zone of Shenzhen Wang Jinxia said that Qianhai can make an significant breakthrough in these fields before the year ends.
Qianhai leader are now looking into several policy support in the 46 measures that will be addressing five major aspects in Qianhai and in Guangdong Hong Kong Macau free trade development. Eighteen of these measures are now focused on financial innovation that will also allow Qianhai residents and companies that will set up cross border trade accounts with major banks in the 15 square kilometer zone that will help the yuan be fully convertible under capital accounts.
Based on the Qualified Domestic Individual Investor program that allows an individual mainland investor to directly trade equities overseas and are also inviting financial regulators to create offices in Qianhai to further support their financial experiments. The program is intended to be launched the end of the year and is in support of a few other major policies that will be made public when the right time comes.
To further deepen relations with Hong Kong, Qianhai will be selling buildings to Hong Kong of around 300,000 square meters in total and will also be employing Hong Kong Professional to work at the zone and to offer internships that are exclusive to students from Hong Kong universities.