Hong Kong supporting European business collaboration surge in Qianhai
Escalating US-China trade war has resulted in European business chambers seeking out opportunities in the Greater Bay Area
The escalating US-China trade tensions have prompted more European business chambers to seek collaboration opportunities in Qianhai, a special economic zone in Shenzhen near Hong Kong, according to a mainland-based incubator.
Tech firms in Qianhai and Nansha, a district in southern Guangzhou, also said on Wednesday that Hong Kong now played a more crucial role than ever to provide financing support and assist them in exporting products overseas.
During a press trip to the Greater Bay Area cities arranged by mainland authorities, a Guangdong province official pledged to support the construction of railways near Hong Kong’s border to boost connectivity and integration.
Part of the tour included a visit to Shenzhen Qianhai Ehub Operation Company, a 14,800 square metre (159,300 sq ft) space designed to incubate start-ups in the zone.
Its general manager, who is originally from Hong Kong, shared the changing dynamic where some companies in the bay area had actually benefited from the recent geopolitical tensions.
“This is extremely good timing for us,” he said. “The US-China trade war has prompted the various chambers of commerce from Europe to actively approach us, including the UK, France and Sweden.”