Implementation Plan for Implementing Opinions on Comprehensively Deepening Reform and Opening-up of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone with Financial Support
On 10 July 2023, the General Affairs Office of the Shenzhen Municipal People's Government issued the “Implementation Plan for Implementing Opinions on Comprehensively Deepening Reform and Opening-up of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone with Financial Support" (“the Plan”). The Plan specifically facilitates cross-border investment and financing for Hong Kong enterprises, including supporting eligible Hong Kong-funded Small and Thin-profit Enterprises (“STEs”) in Qianhai Cooperation Zone to obtain loans from overseas banks within a limit of RMB5 million. The Plan also supports the expansion of Hong Kong-funded financial institutions' business scope, including encouraging eligible overseas, especially Hong Kong-based banks to apply for qualifications for fund custody business in their branches in Qianhai Cooperation Zone.