HONG KONG SAR - Media OutReach - 20 January 2023 - Following the re-opening of the borders between Hong Kong and Mainland China, the frequent interaction between Shenzhen and Hong Kong will resume and deepen in the future. For over a year since the issuance of the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the "Qianhai Plan") by the State Council on September 6, 2021, Qianhai has been tasked with two main initiatives, namely the expansion of the cooperation zone and the deepening of reform and opening up. Covering various aspects and key projects, these initiatives have been proven successful with the close cooperation between Shenzhen and Hong Kong. In order to provide an update on the Qianhai Plan for the first year since its issuance, and introduce the latest policies and development opportunities of Qianhai, the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality (the "Qianhai Authority") specially oragnized the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Promotion Conference with the theme of "Shenzhen and Hong Kong Join Hands to Win the Future" at the Hong Kong Conference and Exhibition Centre on 12 Jan 2023. This grand event was the first large-scale promotion conference organized by the Qianhai Authority in Hong Kong after the re-opening of the borders, with the attendance of more than 300 guests. Political and business leaders from Shenzhen and Hong Kong gathered at the promotion conference, including Zeng Pai, Member of the Standing Committee of the Shenzhen Municipal Committee, Director General of the Qianhai Authority and Secretary of Nanshan District Committee; Erick Tsang Kwok-wai, Secretary for Constitutional and Mainland Affairs of the Government of the Hong Kong Special Administrative Region; Xu Weigang, Director General of the Economic Department of the Liaison Office of the Central People's Government in the Hong Kong S.A.R.; Jiang Likun, First Deputy Director General of the Greater Bay Area Office of the Shenzhen Municipal Committee (Hong Kong and Macao Affairs Office of Shenzhen); Huang Xiaopeng, First Deputy Director General of the Qianhai Authority; Jian Zheng, Deputy Director General of the Commerce Bureau of Shenzhen Municipality; Wen Ping and Guo Xiaoyang, Deputy Directors General of the Qianhai Authority; Li Xiaoning, First Deputy District Mayor of Nanshan District; and Li Wei, Member of the Standing Committee of Nanshan District Committee. Zeng Pai, Member of the Standing Committee of the Shenzhen Municipal Committee, Director General of the Qianhai Authority and Secretary of Nanshan District Committee, pointed out in his speech at the conference that the recent orderly re-opening of the borders between Shenzhen and Hong Kong would enable the two cities to join hands in the future for capturing opportunities arising from, and taking the lead in, the latest global development. Committed to its mission of "relying on Hong Kong, serving the Mainland and opening up to the world", Qianhai will strive to collaborate with and serve its Hong Kong counterparts in most competitive sectors of the Hong Kong modern service industries, such as finance, legal service, trade and logistics. Efforts will be made to improve the cooperation mechanism and optimize policies and systems favorable to Hong Kong. As part of the Qianhai Global Service Provider Campaign, a familiar business and living environment will be created for Hong Kong people and enterprises in Qianhai so that they can fully capitalize on the advantages of the two cities for a win-win future. Erick Tsang Kwok-wai, Secretary for Constitutional and Mainland Affairs of the Government of the Hong Kong Special Administrative Region, stated in his speech that Qianhai is one of the most important cooperation platforms in the Guangdong-Hong Kong-Macao Greater Bay Area (the "Greater Bay Area"). Over the past few years, the governments of Hong Kong and Shenzhen have done a lot of work for the Hong Kong professional sectors to tap into the Qianhai market. A series of measures have also been launched, including tax concessions, settlement support funds, as well as the further opening-up initiatives for professional services. These measures have been well received by the relevant sectors in Hong Kong as they enabled qualified professionals from Hong Kong with construction, engineering and legal expertise to practice and provide services in Qianhai and even the Greater Bay Area through the existing mechanism. With the implementation of the mechanism for wholly owned Hong Kong enterprises ("WOKEs") to adopt Hong Kong law in Qianhai, WOKEs registered in Hong Kong are allowed to opt for laws of Hong Kong as the applicable law in their civil and commercial contracts, bringing more convenience and opportunities for Hong Kong people and enterprises developing...