An area of reclaimed former mudflats near Hong Kong on the city of Shenzhen’s western coast has been transformed into one of the fastest-growing innovation-focused districts in southern China’s Greater Bay Area (GBA).
The 14.92 sq km special economic zone of Qianhai – or Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone – was established in 2010 to promote closer cooperation between Hong Kong, Macau and mainland China and develop modern service industries, including finance, logistics, and information and technology services.
In the first half of this year, Qianhai attracted foreign investment of 12.3 billion yuan (US$1.7 billion) – a 15.9 per cent year-on-year increase – while 1,451 new foreign-invested enterprises set up operations in the area. A total of 52 multinational companies have opened head offices in Qianhai over the years.
Yet the burgeoning modern commerce and innovation hub is also an attractive business, leisure and cultural travel destination. The urban district, situated conveniently close to Hong Kong, is served by a network of modern transport services including numerous metro lines, railways, expressways and ferry ports.
The urban area is also home to many modern high-end shopping and cultural spaces such as K11 Ecoast, and popular family-friendly landmarks including the Bay Glory Ferris wheel.
Over the next few months, the area is set to unveil several new cultural and entertainment landmarks, and also host the closing ceremony in November of China’s multi-sport 15th National Games, which for the first time is being co-hosted by Guangdong province, Hong Kong and Macau.
