Innovative spatial structures and strategic positions unveiled in Shenzhen Qianhai's new development plan will propel Qianhai into a new era of integration and high-quality development, experts said as John Lee Ka-chiu, chief executive of the Hong Kong Special Administrative Region, hailed Qianhai's pivotal role in driving innovation, development and cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area.

On Thursday, the National Development and Reform Commission, China's top economic planner, released the Overall Development Plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, outlining a visionary road map for Qianhai, with targets set to be achieved by 2025, 2030 and 2035.

"The plan sets a clear direction for Qianhai's development and opening up. The HKSAR government is grateful to the central government for the various policy initiatives outlined in the plan, which are not just of benefit to Hong Kong but will also contribute to the development of the GBA and our country," said Lee on Thursday night. He added that measures in the areas of financial, legal, professional and information technology services, as well as those facilitating Hong Kong and Macao residents setting up businesses, working and living in Qianhai, and Hong Kong residents of foreign nationalities traveling in the mainland cities of the GBA, will expand the scope of development for Hong Kong talent and enterprises.

Wei Jianzhang, vice-president of the Belt and Road Initiative's International Cooperation and Development Research Institute in Shenzhen, said the plan's focal point is the construction of Qianhai's spatial structure as "One Core, One Belt, Two Ports and Five Districts," emphasizing six key industries.

According to the plan, the zone will increase significantly from nearly 15 square kilometers to more than 120 sq km.

One of the plan's key features is its commitment to consolidating and enhancing modern sectors, seeking to explore new technologies and models in emerging industries like the ocean economy and digital economy.

By promoting the deep integration of modern service industries and advanced manufacturing, Qianhai aims to foster a collaborative environment with Hong Kong, propelling the modern service industry to new heights, the plan said.

Moreover, the plan introduces specific goals for 2025, 2030 and 2035, with the notable absence of a GDP target. Instead, it focuses on objectives such as the number of Hong Kong-funded enterprises, the employment of Hong Kong residents, and the provision of crossborder government services by Hong Kong and Macao.

"This shift emphasizes a qualitative approach, aligning with the broader trend of high-quality development of the nation," Wei said.

Zheng Yongnian, dean of the Qianhai Institute of International Affairs, said that the GBA has significant characteristics and advantages, namely "one country, two systems and three customs regions."

"The construction of cooperation platforms, including Qianhai, is a key point for the integrated development of the GBA. The plan will expedite platform construction, ensuring a solid foundation for GBA development and unleashing greater development momentum," Zheng added.

Yi Yang contributed to this story.

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