(Source: Nanfang.com, Nanfang+Client 2025-12-22)
The second anniversary of the release of the "Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Master Development Plan" (hereinafter referred to as the "Qianhai Plan") on December 21,Yu Haichun, Dean of the Institute of International w88 Rules, w88 casinoAs the president of Qianhai Think Tank, he recently accepted an exclusive interview with Nanfang Daily.Yu HaichunEvaluation: Since the implementation of the "Qianhai Plan" two years ago, Qianhai has continued to make efforts at a higher starting point, higher level, and higher goals. Regardless of GDP growth or foreign w88 and foreign investment introduction, it has delivered a beautiful "report card" and fully met and exceeded expectations.
Yu Haichunsaid that the core strategic significance of the "Qianhai Model" lies in empowering high-quality economic development across the country. In the past few years, many major foreign affairs activities have landed in Qianhai, which reflects the great importance the Party Central Committee and the State Council attach to the reform and opening up region centered on Shenzhen, and their full recognition of Qianhai’s development achievements. Next year's APEC meeting will be held in Shenzhen, which will build a higher platform for Qianhai to further expand its opening to the outside world. It will further enhance its international influence and promote higher-quality development of the regional economy.
"The value of Qianhai does not lie in how much GDP it has created, but in that through bold experiments, it has successfully 'tried' a number of new systems, 'broke' a new path, and 'changed' a new world. Its significance is far more profound than the economic growth of a region."
“Under the trend of anti-globalization, Qianhai’s priority in connecting with international rules such as CPTPP and DEPA is an important signal for China’s expansion of opening up. It will seize the initiative for the country in global competition. It will also significantly reduce the institutional transaction costs of foreign investment and significantly enhance Qianhai’s attractiveness to global enterprises.”
“Cross-border data flow is a key difficulty in connecting with DEPA, CPTPP and other rules. Qianhai is the data center of the entire Bay Area and the ‘first choice’ for cross-border data flow. Taking the lead in exploring cross-border data flow rules can make the ‘external circulation’ smoother and of higher quality.”
Talk about the "Qianhai Plan" and "the 'Qianhai Model' empowers high-quality economic development across the country"
Southern+: This year marks the second anniversary of the release of the "Qianhai Plan" and is also the year when the first phase of development goals proposed in the plan will be completed. How do you feel about the completion of Qianhai? Did it meet expectations? What breakthroughs have impressed you? What are the reasons for these results?
Yu Haichun: In the two years since the "Qianhai Plan" was implemented, Qianhai has taken the initiative to serve the overall situation, boldly pioneered trials, and taken the lead in implementation. It has continued to work hard at a higher starting point, higher level, and higher goals. Regardless of GDP growth or foreign w88 and foreign investment introduction, it has handed over a beautiful "report card" and fully met and exceeded expectations.
For example, the regional GDP continues to grow positively, and the number of settled enterprises has steadily increased, including more than 10,000 Hong Kong-funded enterprises; 17 of the 48 experience measures formed by Shenzhen’s comprehensive reform pilot have been implemented in Qianhai; a total of 508 financial institutions have settled in the Shenzhen-Hong Kong International Financial New City, including 371 Hong Kong-funded foreign investors.
The reason why Qianhai has achieved such outstanding results is due to the strong empowerment of top-level designs such as the central government's "Qianhai Plan" and "Qianhai Plan". First, it gives Qianhai the right to pilot projects; secondly, relying on Hong Kong's modern service industry and international finance and legal advantages, superimposing Shenzhen Science and Technology Innovation and industrial supporting capabilities form a unique positioning of Shenzhen and Hong Kong synergizing and complementing their advantages; furthermore, Qianhai takes institutional innovation as its core, focusing on the connection of rules and mechanism docking, forming a replicable and popularized "Qianhai model", reducing institutional transaction costs, and being located in the core location of the Greater Bay Area and supporting industrial foundations.
Southern+: What significance or strategic significance do these breakthroughs have for China’s economic development?
Yu Haichun: The core strategic significance of the "Qianhai Model" is to empower the high-quality development of the national economy.
On the one hand, it has become a benchmark for reform demonstration. Qianhai has ranked first in the innovation index of free w88 zones in the country for four consecutive years, providing a practical sample for national reform, a strong impetus for the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and valuable experience for other regions in China to deepen reform and expand opening up.
On the other hand, it has become a Shenzhen-Hong Kong integration hub, consolidating Hong Kong’s status as an international financial and w88 center through the connection of rules, and helping Hong Kong deeply integrate into the overall development of the country.
In addition, Qianhai is not just a development zone or an ordinary "preferential policy zone", but China's "reform laboratory", "system innovation test field" and "opening stress test field".
The value of Qianhai does not lie in how much GDP it has created, but in the fact that through bold experiments, it has successfully "tried out" a number of new systems, "broke" a new path, and "reformed" a new world. Every successful exploration of Qianhai is "clearing pitfalls" and "setting benchmarks" for other regions across the country, and its significance is far more profound than the economic growth of a region.
Talk about integrating with international standards, "We can focus on the docking of rules in areas such as the 'digital economy'"
Southern+: In the past two years, Qianhai’s foreign investment and foreign w88 data have been very impressive. At the Shenzhen Global Investment Conference that just concluded, the amount of investment attracted ranked first in the city. What do you think foreign investors are most optimistic about in Qianhai?
Yu Haichun: As a "special zone within a special zone", Qianhai takes institutional innovation as its core and can prioritize the integration and implementation of international economic and w88 rules such as the Regional Comprehensive Economic Partnership Agreement (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Digital Economic Partnership Agreement (DEPA).
At the same time, Qianhai is located in the core of the Guangdong-Hong Kong-Macao Greater Bay Area, relying on the area with the most developed economy and the largest concentration of high-tech enterprises in my country, and has a strong industrial foundation. In addition, Shenzhen has local legislative power and can provide a stable and international institutional environment for foreign investment by formulating local regulations that adapt to international rules.
Southern+: Under the trend of anti-globalization, our country insists on opening up. What significance does Qianhai’s integration of international economic and w88 rules such as CPTPP and DEPA have on the development of the country? In which areas can we prioritize efforts?
Yu Haichun: China has achieved rapid economic development through reform, opening up and integration into globalization, and will never go back to the path of isolation. Under the trend of anti-globalization, Qianhai's priority in connecting with international rules such as CPTPP and DEPA is an important signal for China's expansion of opening-up. It not only demonstrates the sincerity of integrating into the global economy, but also improves domestic rules through pilot trials to avoid being excluded by regional w88 agreements, seizes the initiative for the country in global competition, and at the same time drives the level of openness across the country through institutional innovation.
For foreign investment, this move will significantly reduce the institutional transaction costs of foreign investment in Qianhai, significantly enhance Qianhai’s attractiveness to global enterprises, and help it better integrate into the global industrial chain and supply chain.
Qianhai can focus on areas such as “digital economy, international w88, and financial services” to comply with international rules. The digital economy is currently a national strategic priority. As the world's most advanced digital w88 rules, DEPA's relevant standards have been implemented in Qianhai, which can promote the standardized development of digital w88.
Talk about the cross-border flow of data “Be the first to explore the cross-border flow of data to make the ‘external circulation’ smoother”
South+: In the context of the dual circulation strategy, why does Qianhai need to align with international rules on cross-border data circulation?
Yu Haichun: Cross-border data circulation is an important part of the external circulation, and it is also a key difficulty in connecting with rules such as DEPA and CPTPP. These international rules have high standards for data protection and cross-border flows. As a pilot, Qianhai takes the lead in exploring cross-border data flow rules, which can not only break the data barriers for corporate credit reporting and industrial cooperation, but also accumulate experience for the country to improve data governance and connect with international digital w88 rules, making the "external circulation" in the dual circulation smoother and of higher quality.
Southern+: As the location of Guangdong’s first cross-border data service center and a new national-level Internet exchange center, why can Qianhai become the “first choice” for cross-border data circulation? What opportunities will this bring?
Yu Haichun: Qianhai has become the “preferred place” for cross-border data circulation. The core lies in its huge actual demand and pilot advantages. Shenzhen has long ranked first in the country's import and export w88 scale, and cross-border w88 has naturally created a large demand for cross-border data flow, which is a major development opportunity for Qianhai. Because standardized data flow is an inevitable trend in the development of the digital economy, it can promote the innovation and upgrading of related industries, help Qianhai deeply integrate with international digital w88 rules, and further consolidate its position as an open economic hub.
But at the same time, we need to pay attention to risk prevention and control. Cross-border data involves personal information protection, data ethics and national security. At present, relevant domestic legislation is still being improved. It is necessary to learn from the negotiation experience of the US and European data transfer agreements to find a balance between openness and security. Qianhai is the data center of the entire Bay Area. As a "special zone within a special zone", cross-border data flow should start from Qianhai.
Southern+: Qianhai has seen more and more foreign affairs activities in the past two years, and some national events such as the closing ceremony of the 15th National Games were also held in Qianhai. The APEC meeting will be held in Shenzhen next year. As a "special zone within a special zone", what opportunities will Qianhai usher in?
Yu Haichun: On the one hand, it highlights the economic influence of the Guangdong-Hong Kong-Macao Greater Bay Area at home and abroad. As the frontier of my country's reform and opening up, its economic vitality and development potential have been widely recognized; on the other hand, it reflects that the Party Central Committee and the State Council attach great importance to the reform and opening up area centered on Shenzhen. It is a full affirmation of Qianhai's development achievements and also builds a higher platform for its further expansion of opening up to the outside world.
In the future, Qianhai should focus on two major directions. First, deepen institutional innovation, be bolder in pioneering trials, break through the limitations of the existing framework, formulate a forward-looking and differentiated rule system, and maintain its leading position in the country. The second is to gather global resources, attract high-quality global enterprises and high-end talents to settle in with a more open attitude, use international platforms such as the APEC conference to display development results, further enhance international influence, and promote higher-quality development of the regional economy.
Southern+: In the context of the APEC meeting and the “15th Five-Year Plan”, what suggestions do you have for Qianhai?
Yu Haichun: The next step for Qianhai in terms of reform, innovation and opening up to the outside world is: First, it should focus on system integration innovation, focus more on market access and property rights protection, promote the upgrade of innovation results from "quantity" to "quality", and deepen the expansion of "Hong Kong-invested, Hong Kong, French and Hong Kong arbitration".
Second, efforts should be made continuously to cultivate new quality productive forces. For example, building an AI computing power center, Shenzhen-Hong Kong Software Bay, building a cultivation base for listing in Hong Kong, etc.
The third is to upgrade the business environment to high standards, benchmark the World Bank indicators, implement "one certification, one pass", deepen AI+ government services, and reduce corporate service costs.
Fourth, financial opening up will continue to deepen, and the "30 financial support measures for Qianhai" will be completed as soon as possible, the "Cross-border Financial Management Connect 2.0" will be upgraded, and the Shenzhen-Hong Kong International Financial City will be expanded to more than 600 institutions.
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