Overall economy of Qianhai FTZ exceeds 250b yuan

The Qianhai and Shekou area of Shenzhen of the China (Guangdong) Pilot Free Trade Zone [Photo/IC]

The Qianhai and Shekou area of Shenzhen, a part of the China (Guangdong) Pilot Free Trade Zone, has reached a great milestone, with its economy reaching 251 billion yuan ($37.5 billion) in 2018, a year-on-year increase of 23.6 percent. 

The economic aggregate and industrial energy level of Qianhai Free Trade Zone (FTZ) reached a new level in 2018. The added value of registered enterprises is expected to be 251 billion yuan, an increase of 23.6 percent, and the tax revenue also increased by 30.3 percent. The investment in fixed assets increased eight percent and the actual use of foreign capital was $4.51 billion, an increase of 1.3 percent. The import and export value reached 608.7 billion yuan, with a growth rate of 30 percent. 

Among them, the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is expected to achieve the added value of registered enterprises of 200 billion yuan, an increase of 30.9 percent, with the annual tax revenue up by 31.1 percent and a 6.9 percent increase in fixed-asset investment. 

In addition, 42 of the world's top 500 enterprises were newly introduced to the FTZ, making the total number in the zone, 356. Thirty four Chinese mainland-listed companies were established in the zone last year, making the total number now 994. Among them, 439 of those enterprises paid a tax of over 10 million yuan and 50 enterprises paid a tax of over 100 million yuan.

By the end of 2018, 41 countries along the Belt and Road have invested and set up 365 enterprises in the Qianhai FTZ. Meanwhile, local enterprises have established 42 enterprises in 16 countries along the Belt and Road, with an agreed investment of $1.213 billion.

In 2018, the total import and export value of Qianhai FTZ was $115.2 billion, an increase of 30 percent, and the total import and export value of the bonded port area was $15.7 billion, up 143 percent from the previous year.

A signboard of the Qianhai and Shekou area of China (Guangdong) Pilot Free Trade Zone [Photo/southcn.com]

The Qianhai and Shekou area of Shenzhen, a part of the China (Guangdong) Pilot Free Trade Zone, undergoes construction. [Photo/IC]