China’s Financial Reform Zone in Shenzhen Has Been Allowed an Eightfold Expansion to Further Integrate Hong Kong

Posted by Joachim Bartels | Sep 8, 2021 | ! Homepage Slider, ! Recent Country News, Country Risk Information, Hong Kong, Insights, Risk Management Solutions, Trends | 0 |

China’s financial reform zone in Shenzhen has been allowed an eightfold expansion that will eventually make it twice the size of New York City’s Manhattan district as part of a plan released by the government to further integrate Guangdong province with the Hong Kong special administrative region.

The Qianhai cooperation zone was expanded to 120.56 square kilometers from 14.92 square kilometers, according to a plan (link in Chinese) released Monday by the State Council and the Central Committee of the Communist Party.

The zone will broaden its focus from financial services, technology and logistics to manufacturing and the marine industry. It will continue to test financial reforms in areas such as cross-border yuan use and boost green finance and connectivity with Hong Kong’s financial markets. It will also host a big data platform for cross-border trade.

Source: Caixin Global

About The Author

Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.