Shenzhen to Unite with Hong Kong for the RMB Offshore Center
The State Council approved the General Development Plan for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. In the specific development plan of Qianhai submitted by Shenzhen to the central authorities, the most important item is, following Hong Kong and Shanghai’s research and building of the RMB offshore center, Qianhai is going to cooperate with Hong Kong for the joint development of the RMB offshore center in Shenzhen, according to news source on September 6.
At the time of the 30th Anniversary of Shenzhen’s Special Economic Zone on August 26, the State Council approved the Plan and clearly defined that Qianhai will be built into a demonstration plot of Guangdong and Hong Kong’s creative cooperation in the modern service industry.
The news source released, in the detailed development measure of Qianhai area, Shenzhen has attached importance to the logistic garden of Qianhai Bay and has been engaging in to the studying of the feasibility of free RMB exchange. After the Plan approved, Shenzhen put forward the detailed plan of developing the free exchanging port of RMB to accelerate China’s realization of RMB internationalization.
In addition, the central authority will provide the Qianhai new area with more early and pilot implementation policies, according to relevant information. This area will also make exploration on taxes, currency value, administration of justice, etc.
By Shenzhen Post Elaine
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