Qianhai is a name that is set to be on the lips of the business world, after the Chinese government revealed that it is to invest heavily in the relatively unknown town.
Described as the next Hong Kong, Qianhai is to benefit from a sizeable investment project, one which will seek to transform it into an international financial and commercial zone.
As well as working closely with Hong Kong, officials are keen on attracting foreign professionals considering the option of international relocation with work.
The government has committed £27 million to the initiative, which will go towards the modernisation of the town.
“At the moment the area is pretty undeveloped with lots of unfinished properties, but it’s creating quite a buzz with the expected investment,” James Eden, a British expat, was quoted by the Daily Telegraph as saying.
“People are always looking at the next big thing, especially in the property market, and lots are pinning their hopes on Qianhai resembling Hong Kong in years to come.”
It has been reported that around 37 companies have already signed contracts to set up bases in what will be known as the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
Such businesses have been incentivised by the friendly rates, which include low corporate taxes.
Cadogan Tate can help British professionals relocate abroad with international shipping.