Shenzhen Qianhai Company Formation
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Qianhai, the special economic zone in Shenzhen intended as a test bed for China's yuan liberalisation and financial reforms, has strengthened its financial co-operation with the British Virgin Islands (BVI), a leading offshore tax haven, but analysts are divided as to whether the move will be a threat or a benefit to Hong Kong.
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Qianhai, a 15 square kilometre zone on the west coast of Shenzhen, will benefit from its proximity to Hong Kong, a major international financial centre, and its location in Shenzhen, the third-largest financial hub on the mainland, Li Qiang, the deputy director general of the Qianhai authority, said on the sidelines of the Asian Financial Forum in Hong Kong.
The Qianhai MOU should boost investment across four sectors in the region around Qianhai - finance, logistics, information technology and professional services - Elise Donovan, executive director of the BVI International Finance Centre, told the South China Morning Post.
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