One-stop service in Hong Kong for registering Qianhai firms

Shenzhen’s market supervision bureau has partnered with several banks to provide a one-stop service in Hong Kong for people who want to register a company in Qianhai without traveling to Shenzhen.

The bureau and a number of banks, including Bank of China Hong Kong, Bank of China Shenzhen Branch and Chong Hing Bank, announced the launch of the service in Hong Kong on April 10.

People can complete a series of procedures, including company registration, registration with the entry and exit administration and opening a bank account, at any office of the banks that have partnered with the bureau. With this service, those in Hong Kong who want to open a company in Qianhai will no longer need to travel to Shenzhen to complete registration procedures. The one-stop service is also very helpful to those who are not familiar with the procedures and requirements, as consultation is also available at the banks.

The service, which is now only applicable to the registration of Qianhai companies, will expand to the registration of companies in other parts of Shenzhen, according to Kuang Bing, head of the bureau.

Other banks offering the service include China Merchants Bank and the Industrial and Commercial Bank of China.

Wang Bing, deputy chief executive of Bank of China Hong Kong, said at the launch ceremony that the service is an important measure in the facilitation of business in the Guangdong-Hong Kong-Macao Greater Bay Area.

As of March this year, there were 40,038 enterprises wholly or partly funded by Hong Kong investors in Shenzhen, accounting for over 70 percent of enterprises with overseas investment.