QIANHAI ATTRACTS POTENTIAL INVESTMENTS TOTALLING OVER 120 BLN YUAN

KUALA LUMPUR, Nov 10 (Bernama) -- Several Fortune 500 companies, Hong Kong businesses, state-owned enterprises, and other industrial bellwethers have signed agreements to set up offices in Qianhai, China, at the 2022 Qianhai Global Investment Promotion Conference held this week.

Their total investment is expected to surpass 120 billion yuan (100 Chinese yuan = RM64.80), according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Authority of Qianhai).

“With deepening reform and an improving business environment, Qianhai has once again attracted the attention of global businesses and investors,” the statutory body said.

The conference on Nov 8, themed "Invest in Qianhai, Building a Winning Future", showcased the economic vitality, policy appeal, and driving forces of innovation in Qianhai.

At the conference, the Qianhai Global Service Providers (QGSP) Programme was launched to actively attract and cultivate national top 20 or global top 50 businesses in eight fields, including modern finance, business & trade, logistics, and information services.

“The goal of the programme is to build a cluster of global service providers with the world's top 500 headquarters companies as the pillars, and small and medium enterprises industry leaders in specialised fields as the main body,” the Authority of Qinhai said.

Qianhai has vowed to render these businesses an industrial space of over 200,000 square kilometres every year.

Its goal is to introduce or foster more than 300 modern service providers from around the world and achieve an added value of over 100 billion yuan in the modern service sector by 2025.

“Qianhai will make every effort to build a core engine for the modern service industry in the Greater Bay Area and become an important producer service centre in the Asia-Pacific region,” it said.

According to its plan, Qianhai will also create a series of clusters, featuring venture capital investment, natural gas trading, cross-border e-commerce, and tax services.

-- BERNAMA