Can real reform take root in Qianhai?

Illustration: Lau Ka-kuen

Experts remain divided on whether Qianhai will meet its lofty goal of helping to transform today's China like the first special economic zones in Shenzhen and Zhuhai did 30 years ago.

Monday, 4 March, 2013, 5:42am 1 comment

Roads paved with gold for property investors in Qianhai

Yi Yun Ban Shan project in Qianhai

People who bought flats in estates a stone's throw from the Qianhai experimental zone quickly came to regret their decision. They kept doors and windows firmly sealed to shut out the dust and incessant noise from container trucks traversing the nearby highway.

4 Mar 2013 - 5:42am 1 comment

Hong Kong's financial sector remains to be convinced by the benefits of Qianhai

Christopher Cheung Wah-fung.

While bankers see big benefits from Qianhai development there is scepticism elsewhere in the financial industry about whether the plan will benefit the sector or the Hong Kong economy as a whole.

26 Feb 2013 - 4:54am

Hong Kong bankers say reforms will help establish Qianhai as yuan centre

A stone bears the Chinese characters for Qianhai in the 15-square-kilometre development site in the western part of Shenzhen. Photo: Edward Wong

Moves to create the "Manhattan of the Pearl River Delta" on a patch of reclaimed land west of Shenzhen kicked off with a bang last month, and bankers are bullish over prospects for the future financial hub.

26 Feb 2013 - 5:21am

Carrie Lam promotes Hong Kong industry to Qianhai in Beijing

Carrie Lam Cheng Yuet-ngor. Photo: K. Y. Cheng

Hong Kong firms from the legal, financial and construction sectors hope to capitalise on business opportunities created by the Qianhai experimental zone, Chief Secretary Carrie Lam Cheng Yuet-ngor says in Beijing.

11 Jun 2015 - 4:33pm

Banks take lead in fulfilling Qianhai's Manhattan dream

The long-awaited Qianhai project finally kicked off last week.

After many years of talk, the long-awaited Qianhai special zone finally kicked off last week. As part of the project, 15 banks in Hong Kong will be allowed to offer a combined two billion yuan (HK$2.46 billion) in loans to companies in the zone next to Shenzhen.

5 Feb 2013 - 4:33am

Yuan deposits set to leap to one trillion by end of 2013

Just 13 per cent of Hong Kong's pool of 600 billion yuan in deposits was lent out last year. Photo: AFP

The pool of yuan deposits in Hong Kong rose 5.6 per cent last month from November to 603 billion yuan. It has surged from less than 100 billion yuan in 2009 and peaked at 627 billion yuan in November 2011.

1 Feb 2013 - 5:22am

Qianhai - a small zone with a big role

Hong Kong will advise on Qianhai's financial services. Photo: Reuters

Qianhai, in Shenzhen, may be the smallest of the dozen experimental zones on the mainland - which include Nansha in Guangzhou and Hengqin in Zhuhai - but its role is arguably the most significant.

29 Jan 2013 - 4:56am

Banks get green light for 2b yuan in cross-border loans for Qianhai

Qianhai special economic zone in Shenzhen. Photo: Reuters

China had announced it would let firms in Qianhai, a US$45 billion special economic zone in Shenzhen, take out yuan loans from banks just across the border in Hong Kong, with tenors and interest rates to be set independently, also a major step towards liberalising the country’s interest rate mechanisms.

29 Jan 2013 - 3:40am 5 comments

Qianhai experimental zone won't be expanded, says Shenzhen mayor

Shenzhen mayor Xu Qin. Photo: May Tse

"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," Shenzhen Mayor Xu Qin said at a media briefing when asked about speculation that officials overseeing the Shenzhen Special Economic Zone were going to expand the Qianhai area.

28 Jan 2013 - 5:59am

Qianhai as the 'Connecticut' of the PRD

An aerial view of Qianhai area. Photo: Reuters

I have news for the Qianhai authorities. People I know in the investment business in New York either congratulate themselves on having long moved out of Manhattan or are grousing at being stuck there.

24 Jan 2013 - 4:58am

Hong Kong brokers to help develop 'Manhattan of PRD'


An association of Hong Kong stockbrokers has agreed to co-operate with the authority administering Qianhai - a 15 square kilometre special zone west of Shenzhen - to help develop the area into the "Manhattan of the Pearl River Delta".

23 Jan 2013 - 3:55am

Shipping giant may lay anchor in Qianhai zone

Shipping giant may lay anchor in Qianhai zone

Wallem, the Hong Kong-headquartered ship management and shipping services firm, is weighing plans to set up operations in Qianhai, a special development zone in Shenzhen.

18 Jan 2013 - 5:27am

Qianhai loans welcome but not big business

New rules from the central bank allow companies in Qianhai to take out yuan loans from Hong Kong banks. Photo: Edward Wong

While Hong Kong banks welcomed Beijing's initiative to let them make yuan-denominated loans to companies operating in Qianhai, analysts warned the amount of new business would be small, at least at first, and not lucrative.

29 Dec 2012 - 4:58am

Hong Kong banks may extend yuan loans to firms in Shenzhen's Qianhai zone

Firms in Shenzhen's Qianhai development zone will be allowed to borrow directly from Hong Kong banks in yuan. Photo: Edward Wong

Firms in Shenzhen's Qianhai development zone will be allowed to borrow directly from Hong Kong banks in yuan, the People's Bank of China branch in the mainland city said yesterday.

28 Dec 2012 - 6:11am