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HK Firms Dominate Qianhai Economy

Updated:2017-6-2 17:16:48    Source:www.tannet-group.comViews:1141

According to Shenzhen Daily, as of end of May, Hong Kong enterprises remain one of the biggest contributors to the Qianhai-Shekou Free Trade Area’s economy by generating 22 percent of the area’s total added value and 27 percent of the total revenue, according to the latest statistics released by Qianhai authorities.

With total registered revenue of 388.9 billion yuan (US$56.5 billion), the 4,494 Hong Kong-funded enterprises are only a small fraction of the massive number of companies set up in the area — the number of Hong Kong companies just accounting for 4 percent of the total. But they have achieved over 39.2 billion yuan of the added value, contributed more than 8.53 billion yuan in tax revenue and invested over 16 million yuan in fixed assets.

Over 90 percent of them conduct business in the four pillar industries of the area. About 37.6 percent of the financial institutions are Hong Kong funded, 20.3 percent of logistics companies are Hong Kong invested, 10.9 percent of information service enterprises are Hong Kong owned and 31.2 percent of tech and other service providers are from Hong Kong.

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