11,300 Hong Kong businesses in Qianhai zone

Business | 23 Feb 2021 5:24 pm

Qianhai Shenzhen-Hong Kong Cooperation Zone had a 13 percent year-on-year increase in company registrations in 2020. Among them were 11,300 Hong Kong enterprises.

Witman Hung Wai-man, principal liaison officer for Hong Kong at the Shenzhen Qianhai Authority said the tax income grew by 13.4 percent last year. He added that actual use of foreign investment grew by 1.1 percent to US$4.3 billion (HK$33.6 billion), accounting for 50 percent and 3 percent of Shenzhen and national actual use of foreign capital, respectively.

Company registrations have slightly slowed down due to the cross-border quarantine restrictions and may not increase unless there customs procedures are made simpler.

He said two to three months of rental subsidy wwas provided to the affected start-ups.

The zone has also started its Hong Kong and Macau youth recruitment program. Nineteen Qianhai enterprises, including SF and JD.com, would be providing 141 jobs for IT and new media promotion specialists.

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