Advertisement
Hong Kong, Shenzhen dangle perks to entice global venture capital firms, asset managers to Qianhai
- Hong Kong and Shenzhen authorities announced monetary incentives for funds to set up in Qianhai and list in Hong Kong
- The 18 measures will complement the strengths of the two cities, with Hong Kong able to help overseas investors tap into the Greater Bay Area, said HKIFA’s Sally Wong
Reading Time:3 minutes
Why you can trust SCMP
Hong Kong and Shenzhen have announced a slew of incentives for financial firms to set up in Qianhai, as the two cities seek closer collaboration in drawing global venture capital to the special economic zone.
Advertisement
The Financial Services and the Treasury Bureau (FSTB) of Hong Kong and the Shenzhen government announced 18 measures on Friday, with the goal of fostering their partnership in innovation and technology.
The measures, effective for three years, are targeted at venture capital firms, sovereign wealth and private equity funds and to encourage funds set up in Qianhai to list in Hong Kong.
“The promulgation of a joint policy package by the FSTB and the Qianhai Authority is a breakthrough and an innovation in … supporting the linked development of Shenzhen and Hong Kong venture capital in Qianhai,” Christopher Hui Ching-yu, the bureau’s secretary said in a statement.
04:55
China’s Shenzhen city builds giant air-conditioning system to cool entire Qianhai economic zone
China’s Shenzhen city builds giant air-conditioning system to cool entire Qianhai economic zone
“We will explore with Qianhai more opportunities for financial development and promote Shenzhen-Hong Kong cooperation at a higher level under which the two cities can serve as dual engines in the Greater Bay Area.”
Advertisement
Advertisement