Official Launch of “Qianhai Hong Kong Enterprise Loans”
On 9 August, 2023, with the approval of the State Administration of Foreign Exchange, the Shenzhen Branch of the State Administration of Foreign Exchange officially issued the "Operation Guidelines for “Qianhai Hong Kong Enterprise Loans”. This marked the implementation of one of the “Qianhai Finance 30 Measures" by supporting qualified Hong Kong-funded small and micro enterprises to obtain RMB loans from overseas banks within a limit of RMB 5 million.
As a unique platform to showcase in-depth cooperation between Shenzhen and Hong Kong, Qianhai has attracted more than 11,000 foreign-funded companies to settle down, of which Hong Kong-funded companies accounted for 85%. The “Qianhai Hong Kong Enterprise Loans” focuses on providing financial services to improve people's livelihood and facilitates Hong Kong-funded small and micro enterprises in Qianhai to obtain overseas financing, with the aim of helping Hong Kong enterprises and Hong Kong people to start businesses and innovate in Qianhai, and also opens up a new channel for the loan linkage between Shenzhen and Hong Kong.
On 10 August, three Hong Kong-funded enterprises successfully obtained Qianhai Hong Kong Enterprise Loans, with a total financing amount of 12 million yuan, becoming the first batch of beneficiary enterprises after the policy was officially implemented. The enterprises indicated that many Hong Kong enterprises and Hong Kong people regard Qianhai as a good point to enter the Guangdong-Hong Kong-Macao Greater Bay Area and rest of the Mainland. Hong Kong-funded small and micro enterprises successfully obtained funds from overseas banks. The banking industry expressed that “Qianhai Hong Kong Enterprise Loan” initiative is beneficial to overseas banks, especially for Hong Kong-funded banks, as they can now extend loan services to Qianhai, based on the existing long-term credit history and banking relationship between the banks and the companies.
This article was published by the Shenzhen Branch of the State Administration of Foreign Exchange and has been translated into English. If there is any inconsistency or ambiguity between the English version and Chinese version, the latter one shall prevail. The full text of the article, in Chinese, can be found below:
https://www.safe.gov.cn/shenzhen/2023/0817/1573.html