SHENZHEN, China, Sept (Bernama-AsiaNet) — The Shenzhen-Hong Kong cooperation mechanism has introduced a new policy. On September 2, “Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Administration – Hong Kong Special Administrative Region Government Financial Services and the Treasury Bureau on the 18 Measures to support Qianhai Shenzhen-Hong Kong Venture Capital Joint Development” (hereinafter referred to as “18 Measures”) was released in Shenzhen and Hong Kong, according to the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
In response to the Hong Kong financial industry’s call for broader cooperation channel between Shenzhen and Hong Kong private equity funds, the “18 Measures” clearly stipulates that a one-time reward of 2 million yuan will be given to the Qianhai venture capital institutions listed on the Hong Kong Exchange. The Qianhai venture capital institutions and their wholly owned subsidiaries in Hong Kong will be granted a one-time reward of 1 million yuan for sponsoring a Special Purpose Acquisition Company and getting it listed on the Hong Kong Exchange. For a Qianhai high-quality infrastructure project listed on the Hong Kong Exchange in the form of REIT, a one-time incentive of 1 million yuan will be given to the project’s equity owner. Analysts believe that this move will further facilitate the two-way cross-border investment cooperation between Shenzhen and Hong Kong.