The Futian section of Guangzhou-Shenzhen Expressway that runs along the Futian Bonded Zone area will be renovated into an underground expressway.
The move is to eliminate the segregation between Futian Bonded Zone and the CBD area of the city, and to improve the accessibility of the entire area, according to Futian District Government, in a response to inquiries from the city’s political advisers about the development of Shenzhen-Hong Kong Lok Ma Chau Loop Area.
The development of the Loop area is in the overall planning and preparatory period, and the city government is applying to the central agencies to pilot new financial and tax incentives that could benefit Hong Kong and expatriate employees working in the area.
The renovation of the expressway, construction of border transportation links, upgrade of the Futian Bonded Zone area and straightening out of policies will push forward the full-fledged development of the bonded zone and support it to become a pioneering area for the coordinated development of the science and innovation industry between Shenzhen and Hong Kong.
The Shenzhen Municipal Transport Commission has initiated infrastructure planning in the Loop area. The plan includes the reconstruction of Huanggang Checkpoint and will turn it into a passenger-only, 24-hour super checkpoint with a capacity to handle 300,000 people per day, six times more than the present capacity. It will be a super transport hub and a super complex for innovation.
Shenzhen and Hong Kong signed an MOU in 2017 to jointly develop the Lok Ma Chau Loop area and build Hong Kong-Shenzhen Innovation and Technology Park at the venue. Hong Kong will support Shenzhen in developing the 3-sqkm area to the north of Shenzhen River (Shenzhen’s side of the park).
The Futian Bonded Zone area will take the lead on international science and innovation projects, according to the overall development and industrial development of the cooperation area the city authority has completed.
It will be a cluster of leading global research institutes, university facilities and research bases. It will support multinationals setting up global research centers, regional research centers and open innovation platforms. It will support foreign-funded research institutes carrying out key national, provincial and municipal research projects, and encourage Shenzhen and Hong Kong to jointly build laboratories and talent cultivation bases.