Major Chinese Companies to Build Headquarters in Qianhai Free Trade Zone
Two major companies have signed agreements with the Qianhai authority to build their overseas headquarters in Qianhai. The China National Cereals, Oils and Foodstuffs Crop. Group will construct their international headquarters that will engage in offshore yuan settlement, and Shenzhen Huaqiang Holdings Ltd. will be building its regional headquarters that will handle overseas businesses.
The Qianhai Administration Bureau have also signed an agreement with Dubai Economic Commission in establishing a cooperation mechanism and alliance between the Dubai Financial City and Qianhai Free trade Zone to further boost the Belt and Road Initiative. The Qianhai Investment and Shareholding Co. signed an agreement together with the Bank of East Asia that will help them set up an internet based securities company that will be funded by investment coming from Hong Kong. Furthermore the director of the Shekou-Qianhai Free Trade Zone Administration Commission Tian Fu stated that there are four agreements signed that will cover international cooperation, raising local companies to international level and upgrading industrial practices.
From January to October, Shenzhen has completed a 20 billion yuan investment in infrastructure in the free trade zone including the 16.5 billion yuan invested in Qianhai and 4.1 billion in Shekou. Then by the end of November around 68,000 enterprises have registered in Qianhai that had a registered capital of 3 trillion yuan. Among the enterprises, 423 companies had a registered capital of more than 1 billion yuan each and 2,000 Hong Kong companies have also registered with the free trade zone.