The Plan for Comprehensive Deepening Reform and Opening Up of Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone (hereinafter referred to as the Plan) was officially released on 6 September 2021. The plan clearly defines the new development direction of Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone (hereinafter referred to as Qianhai Cooperation Zone) and substantially expands the development space of Qianhai cooperation zone.

According to the Plan, the total area of Qianhai Cooperation Zone will be expanded from 14.92 square kilometres to 120.56 square kilometres and its development space will be expanded nearly 8 times. Based on the existing area, Qianhai Cooperation Zone will be further expanded to the following areas:

1. Shekou and Nanshan Area (22.89 square kilometres)
2. Huizhanxincheng and Haiyangxincheng Area (29.36 square kilometres)
3. Airport and Surrounding Area (30.07 square kilometres)
4. Baoan Central Area and Dachanwan Area (23.32 square kilometres)

The Plan also defines two strategic positions of Qianhai Cooperation Zone, i.e., a new experimental platform for comprehensively deepening reform and innovation and high-level opening-up gateway hub. The Plan proposes the following reform measures:

1. Promote the innovative development of modern service industry
2. Accelerate the reform and innovation of the scientific and technological development system and mechanism
3. Create a world-class business environment
4. Innovate the governance model of the cooperation zone
5. Promote free trade in services with Hong Kong and Macao
6. Expand the opening up of the financial sector
7. Enhance the level of opening up of legal affairs
8. Promote high-level participation in international cooperation

As the main carrier of Shenzhen and Hong Kong cooperation, deepening reform and opening up of Qianhai Cooperation Zone, will promote a higher-level cooperation between Hong Kong and Shenzhen, bring more opportunities for Hong Kong service industry, and enable more Hong Kong enterprises to enter the mainland market through Qianhai, and achieve mutual benefit and win-win outcomes with the mainland.

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