Shenzhen-Qianhai Economic Zone
China announced an expansion of the Qianhai economic cooperation zone in Shenzhen. The Qianhai zone, which was opened in 2010, will increase in size to approximately 120 square kilometres increased from roughly 15 square kilometres currently. The expansion is part of a plan to further integrate the economies of the Greater Bay Area which includes Guangzhou, Shenzhen and other Pearl River Delta cities.
The economic zone is set to develop the financial industry and to encourage innovation in financial institutions, financial markets, financial products, and financial supervision. Building on the tech success of Shenzhen, there is an additional focus on artificial intelligence, health care, financial technology, smart cities, the Internet of Things, and new energy materials.