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Qianhai
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Hong Kong professionals will find it easier to operate in the economic zone, and easing of investment restrictions will help revive economies in the city and mainland China.

  • The lender’s non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half
  • BEA’s net profit dropped 5.5 per cent to HK$4.12 billion for the whole of 2023, missing the HK$5.53 billion expected by analysts
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Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.

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The 18-storey BEA Tower, built at a cost of US$196 million, houses the bank’s Qianhai branch, innovation centre and data lab. The 105-year-old lender is targeting wealth management and fintech in the bay area.

Stores could further drain customers away from Hong Kong retailers and replicating the big box stores in city may be impossible, given land and logistics costs.

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The state-controlled conglomerate joined forces with Hong Kong’s New World Development on a venture worth US$1.28 billion in the city’s Northern Metropolis mega project, according to sources familiar with the matter.

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Hang Seng Qianhai Fund Management, a joint-venture of Hang Seng Bank and local authorities in Shenzhen Qianhai, is launching more diverse products to capture cross-border opportunities in China.

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Hong Kong stocks are likely to rebound from heavy sell-offs in the second half of the year as a potential easing of monetary policy boosts China’s economic recovery, says Hang Seng Qianhai Fund Management.

Hengqin, Nansha, and Qianhai, three special economic zones in the Greater Bay Area, are accelerating their roll-out of preferential tax systems, legal frameworks and streamlined application procedures to encourage more foreign funds to invest, a conference heard.

After years of officials pushing out hawkers in an effort to clean up the street stalls, Shenzhen will allow street vendors to operate from the start of September in designated areas within the city.

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Many of the 120,000 insurance agents who suffered during the pandemic are gearing up to serve returning mainland visitors – big spenders on local insurance products. And to tap this business, AIA, Manulife and Prudential plan to hire a total of 10,000 new agents this year.

Shenzhen’s Electronic Components and Integrated Circuits International Trading Centre, based in the city’s Qianhai economic zone, has an initial capitalisation of US$304 million.

Readers discuss the opportunities for Hong Kong’s legal sector in the Greater Bay Area and beyond, and the rise of scams as online shopping gains popularity.

Transport chief says the Hong Kong government will explore different funding options to support major projects unveiled in leader’s policy address.

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Hong Kong and US stock markets are the top choice of investors over the next 12 months as they believe their valuations have become attractive, an HKIFA survey showed.

Hong Kong and Shenzhen have announced 18 measures for financial firms to set up in Qianhai, as the two cities seek closer collaboration in drawing venture capital to the special economic zone.

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The nine measures are aimed at ‘celebrating the 25th anniversary of Hong Kong’s handover to China on July 1’ as zone makes bid for more talent.

Some Hongkongers are trying their luck on the mainland and excited about the opportunities, but for others the idea of integration is ‘unconvincing’.

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Hong Kong Exchanges and Clearing acquired the 145-year old London Metal Exchange in 2012, extending its role as a ‘super-connector’ by linking China’s commodity markets with the world. It has not gone according to the script.

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