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Ⅰ. The Macro-environment of the GBA

1.2.1 Construction of Qianhai Shenzhen-Hong Kong Modern Service Industry

Cooperation Zone and Guangdong-Macao Intensive Cooperation Zone in Hengqin

The construction of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and
Guangdong-Macao Intensive Cooperation Zone in Hengqin are both important parts in promoting the integration

of deep-level rules in the GBA. The development and construction of the Qianhai Shenzhen-Hong Kong

Modern Service Industry Cooperation Zone is an important measure to support Hong Kong’s economic and
social development, enhance the level of Guangdong-Hong Kong-Macao cooperation, and build a new pattern
of opening up to the outside world. The construction of the Guangdong-Macao Intensive Cooperation Zone in

Hengqin is a major deployment to enrich the practice of “one country, two systems”, and an important driving

force for Macao’s long-term development. It is conducive to promoting Macao’s long-term prosperity, stability,
and integration into the overall development of the country. Speaking at the celebration of the 40 anniversary of
th
the establishment of the Shenzhen Economic Special Zone, President Xi Jinping pointed out that Shenzhen is an

important engine for the construction of the GBA, and he asked Shenzhen to actively promote the development

of the GBA and accelerate the development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin.
At the same time, Shenzhen should make full use of major cooperation platforms among Guangdong, Hong
Kong and Macao to attract more young people from Hong Kong and Macao to study, work and live in the

Mainland. 11

The Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (after expansion) had a total
regional GDP of RMB 175.57 billion in 2021, with a 13.7% increase in tax revenue and a 20.3% increase in total
import and export volume in the customs area. A total of 75 new institutional innovation achievements have been

launched, totalling 685, and 7 new reform pilot experiences have been replicated and promoted nationwide, with

a grand total of 65 items. After the announcement of the Plan for Comprehensively Deepening the Reform and
Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone was announced,
Shenzhen and Hong Kong jointly promulgated the “18 Measures for Supporting the Linked Development of

Shenzhen and Hong Kong Venture Capital Investments in Qianhai” for the first time in September 2022. In

February 2023, the People’s Bank of China and four other government authorities jointly issued the “Qianhai
30 Financial Measures”, from which Shenzhen then launched the “115 Refinement Measures” to achieve

11 Xi Jinping: Accelerating in-depth cooperation between Hengqin, Guangdong, and Macao, Ministry of Commerce of the People’s
Republic of China (October 15, 2020), http://www.mofcom.gov.cn/article/i/jyjl/j/202010/20201003008052.shtml

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