The Qianhai experimental zone near Shenzhen will not be expanded, as the pilot project will focus instead on modern service industries, Shenzhen Mayor Xu Qin said yesterday.
"The current priority for Qianhai will be turning the 15 square kilometres into a high-level, high-quality, and high value-added modern service industrial zone. As for the issue of expansion, we have not touched on that yet," Xu said at a media briefing when asked about speculation that officials overseeing the Shenzhen Special Economic Zone were going to expand the Qianhai area.
At the news conference, for the city's People's Congress, Xu said that, as of last year, at least 302 enterprises had been approved to enter Qianhai, known as a Shenzhen-Hong Kong co-operative service industry zone, with total registered capital of more than 37.2 billion yuan (HK$45.8 billion), China News Service reported.
The mayor also stressed that the function of Qianhai would not overlap with Hengqin in Zhuhai or Nansha in Guangzhou, because the Qianhai pilot project will focus on innovative financial business, electronic commerce logistics, scientific and technological research, and other specific service industries.
Qianhai, Hengqin and Nansha are the three key projects supported by the central government to boost Guangdong economic development and co-operation with Hong Kong and Macau.
Last month, newly elected party chief Xi Jinping visited Qianhai and Hengqin during a southern tour that mirrored that of former paramount leader Deng Xiaoping , by following Deng's exact route through Shenzhen 20 years ago.
It was widely viewed as a political move to show Xi's determination in carrying out economic reform on the mainland.
While in Qianhai, Xi told local officials: "Please carry out reform boldly. The central government has granted you very special policies. Qianhai will be a place for the renewal of service industries [on the mainland]".