The new special economic zone in Shenzhen, one of three designated by Beijing for the next stage of China’s Reform & Opening, has been slow getting going, but changes are being accelerated.
As far as special economic zones go, Qianhai is not meant to impress with its size. At just 18.04 sq km, the new zone in the western side of Shenzhen, facing the South China Sea, is relatively small, with not much room for future expansion – unless further reclamation work is done. But that is just fine for local and national officials, for now. What Qianhai is set to accomplish in the coming years, under the Greater Bay Area masterplan, is all about quality rather than quantity.
Continue reading Qianhai – a new kind of experiment
One entrepreneur who is clearly thinking about where the region’s youth will be basing themselves is Allan Zeman. According to Chinese media, Lan Kwai Fong is coming to Shekou, in a new large-scale project being built by China Merchants Group.
The project is a joint venture between Lan Kwai Fong Group, China Merchants Shekou Industrial Zone Holdings, and Shenzhen Yatong Holding Group. It is apparently an important part of the whole Shenzhen Merchants Shekou Taizi Bay development, a massive redevelopment project centered on the old port area.
Zeman was quoted as saying that the “LKF852 Prince Bay” project will “deepen the integration of Greater Bay Area resources, build a new ecology of business, culture, entertainment and leisure, and create a new urban landmark for Shenzhen”.
Taizi Bay is the flagship real-estate development of China Merchants Group, which signed an agreement for its scope with the provincial government in 2016. Covering 1.7 million sqm, it includes the largest domestic cruise port in southern China, as well as commercial and office space, residential, hotels, culture and art facilities, warehouses, international schools, international hospitals, public transport hubs and “others”.
Read more here (in Chinese).