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Gateway of the belt and road initiative

2017-09-13

Shenzhen strives to play a pivotal role in the construction of the Belt and Road to build itself into a gateway along the 21st-Century Maritime Silk Road by making full use of its geographic location and advantages in business and human resources, putting emphasis on the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and focusing on transportation connectivity, economic and trade cooperation and cultural exchanges.

ECONOMIC AND TRADE LINKS

Shenzhen has its own advantages in building itself into a pivot along the Belt and Road. It has developed a sound economic and trade relationship with the countries along the Belt and the Road that has resulted in an impressive foreign trade volume since its industrial structure is quite complementary to that of the countries along the Belt and Road. In 2015, Shenzhen has carried out several implementation schemes to support local enterprises to invest in the projects from the countries along the Belt and Road.

BAY AREA ECONOMY

Shenzhen will speed up the development of the bay area economy to promote its economic upgrading and increase its economic returns. To better implement the Belt and Road Initiative, Shenzhen will coordinate regional resources, build an economic corridor highlighting Qianhai Bay, Shenzhen Bay, Dapeng Bay and Daya Bay, and accelerate the upgrading of its bay area economy.

SHENZHEN-HONG KONG-MACAO COOPERATION

The city aims to explore a new mode of Shenzhen, Hong Kong and Macao cooperation. As Hong Kong marks the 20th anniversary of its return to the motherland, Shenzhen aims to enhance cooperation with Hong Kong in trade, finance, education and technology and is implementing a series of big projects, such as speeding up the development of Lok Ma Chau Loop, the construction of the Shenzhen-Hong Kong innovation and technology park, the construction of Liantang/Xiangyuanwei Checkpoint and Shenzhen River Treatment Phase IV, the re-construction of Huanggang and Shatoujiao checkpoints, the upgrading of transportation near Shenzhen Bay, the exploration of Shenzhen-Hong Kong VC/PE connection, and the cooperation with Macao on creative culture, special finance, tourism and the exploration of the Portuguese-language market.

CONSTRUCTION OF FREE TRADE ZONE AND DEVELOPMENT AND OPENING UP OF QIANHAI

Shenzhen implements the overall planning of the Guangdong Free Trade Zone, plan and build the Qianhai & Shekou Area with high standards, and speed up the formulation of investment and trade rules in accordance with international practices. It will strive to build itself into a pilot demonstration window of the opening up of China's finance industry, a key base of world service trade and an international pivot port. It will enhance cooperation with Hong Kong, speed up the development and opening up of Qianhai, integrate the development of high-end service industry, emerging service industry and headquarters economy, and enhance service and trade liberalization. By 2020, Qianhai's GDP is expected to reach 150 billion yuan.

INFORMATION SILK ROAD

Information infrastructure is essential to the construction of the Belt and Road. As the information infrastructure is inadequate in the countries along the Belt and Road, investment demand in the sector is big and the market potential for information products is huge. The Information Silk Road will expand spaces, tap new markets and create new opportunities for the development of Shenzhen's information industry.

Shenzhen is a powerhouse of China's electronic information industry, with its annual industrial output value exceeding 1 trillion yuan. It is also China's as well as the world's key research, production and export base of telecommunication equipment, flat panel display, computers and peripheral devices, electronic components, home audiovisual products and software. Huawei, ZTE, Skyworth and Great Wall Technology are among Shenzhen's enterprises that have made their names both at home and abroad.

Shenzhen has a developed Internet industry. In 2016, the added value of Shenzhen's Internet industry was 76.75 billion yuan, up 15.3% from 2015. Shenzhen's Internet finance leads the country with the largest number of online loan platforms.

Shenzhen has more than 90,000 Internet-related businesses and a large number of world-renowned Internet companies. Among them, Tencent is one of China's biggest Internet service providers as well as one of the Internet companies that boast the largest number of users.

BUILDING A PIVOT CITY OF THE BELT AND ROAD

Shenzhen will enhance trade and investment cooperation with countries that participate in the Belt and Road Initiative, offer more services through representative institutions in those countries, promote the development of overseas industrial parks such as Sino-Belarusian Logistics Park and Shenzhen-Indonesia Industrial Park, and support Chinese enterprises to join the construction of ports in Bahrain, Sri Lanka, Djibouti and Turkey. It will also actively participate in the construction of the Xinjiang Silk Road Economic Belt Innovation-driven Development Pilot Area and Sino-Pakistan Economic Corridor and explore the markets in Central Asia and South Asia. The city will also hold the 2017 International Industrial Capacity Cooperation Forum & the ninth China Overseas Investment Fair.

 
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