Qianhai Unveils Three-Year Plan to Build Global Services Trade Hub
Shenzhen's Qianhai economic zone has released a three-year action plan (2025–2027) aimed at transforming itself into a “world-class services trade hub.” The initiative sets out 21 measures across key sectors, institutional reform, and cross-border flows, underscoring Qianhai's ambition to anchor China's services trade development while reinforcing its role as a Greater Bay Area gateway.
Institutional Innovation
Policy experimentation remains at the core. Qianhai will fully implement the cross-border services negative list, explore digital yuan use in cross-border scenarios, and expand pilots such as cross-border wealth management. Market access will be further liberalised in sectors including telecoms and finance, alongside new measures to attract foreign medical institutions.
Scholars highlight the importance of these steps in aligning with international high-standard rules. Qu Jian of the China Development Institute described the hub strategy as both a national priority and a competitive imperative for Shenzhen’s post-industrial transformation, leveraging tech leaders such as Huawei and Tencent to drive high-value services exports.
Strategic Positioning
TWO
Qianhai has already laid a strong foundation. By 2024, the zone implemented China's first cross-border services trade negative list, allowed Hong Kong and Macao professionals to practice in areas such as engineering and securities consulting, and launched a cross-border data verification platform. Services trade in Qianhai now accounts for over 30% of Shenzhen's total, with telecoms, IT, and knowledge-intensive services driving growth.
The new plan focuses on eight industries: telecommunications and IT, transport, finance, technology services, tourism, digital culture, construction services, and international professional services. Initiatives range from building a Shenzhen-Hong Kong AI hub and a “software bay” cluster, to expanding airport and port connectivity, enhancing financial openness, and developing global IP and consulting services.
Facilitating Cross-Border Flows
THREE
Talent, capital, data, and technology transfers are all targeted for streamlined management. Hong Kong tax advisers and 26 other professional categories are already recognised in Qianhai. The new plan calls for further mechanisms to ensure secure, efficient movement of people, money, and digital assets. Platforms such as “Qianhai e-Station” will support firms with end-to-end cross-border services.
Opportunities for Global Business
FOUR
For multinational corporations, Qianhai's reforms open pathways to China's fast-growing services economy. Under CEPA, foreign investors can leverage Hong Kong subsidiaries to access Mainland services markets. The new plan further lowers entry barriers, while also fostering collaboration in areas such as digital trade, professional services, and tourism.
Lan Qingxin, professor at the University of International Business and Economics, noted that Qianhai's integration with Hong Kong provides foreign investors with a springboard into both China and global markets. By cultivating high-value, knowledge-intensive services, Qianhai seeks to climb the value chain and set replicable standards for national services trade reform.
Outlook
FIVE
Over the next three years, Qianhai aims to establish its “Qianhai Services” brand internationally, deepen Shenzhen-Hong Kong cooperation, and enhance China's competitiveness in services trade. For global businesses, the zone offers both regulatory clarity and a testing ground for new services models, positioning itself as a critical node in the evolving landscape of global trade.
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