HK firms 'will get chance in Qianhai'

PUBLISHED : Saturday, 26 November, 2011, 12:00am
UPDATED : Saturday, 26 November, 2011, 12:00am


A top official has assured Hong Kong firms they will have every opportunity to develop their businesses in the Qianhai zone, even though it falls under Shenzhen government rule.

Chief Secretary Stephen Lam Sui-lung (pictured) made the remarks after meeting a Shenzhen delegation led by its mayor, Xu Qin, yesterday. The two cities also signed four co-operation pacts on the development of the Lok Ma Chau Loop, food safety, collaboration in the legal profession and weather forecasting.

'The further opening up of Qianhai represents a tremendous opportunity for Hong Kong's financial and professional services to develop in the mainland market,' Lam said, referring to the 15-square-kilometre area designated a Shenzhen-Hong Kong co-operation zone for modern service industries.

Lam said Qianhai, north of Shekou in Shenzhen's Nanshan district, 'will work' despite its small size - provided the authorities had the right policies to help companies.

He said the two cities would work together to seek policies from the central government that were favourable to the area's development and encouraged corporations to set up there. Xu said the infrastructure works for Qianhai were under way and would be aimed at creating an international business environment.

On the Lok Ma Chau Loop project, Lam said they had reached preliminary consensus on its development, law and land management. A planned higher education base on the border is scheduled to open in 2020, the Hong Kong government said. Hong Kong authorities also said they would study how to improve collaboration between local and mainland legal firms.