Core Insights - The Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is rapidly transforming into a new core of a megacity, covering an area of 120.56 km² and advancing 271 key tasks since the Qianhai Plan was released in December 2023 [1][7] Integration with Hong Kong - Qianhai has attracted over 10,500 Hong Kong-funded enterprises with total registered capital exceeding 840 billion yuan, indicating strong economic integration [2] - More than 1,000 overseas professionals have registered to practice in Qianhai, particularly in finance, legal services, and construction [2] Policy Innovations - The introduction of the "Hong Kong people pay tax at the Hong Kong tax rate" policy has reduced the tax burden for Hong Kong residents [3] - A cross-border data verification platform has facilitated over 1,700 transactions for consumer loans issued to Hong Kong residents [3] - Public healthcare services funded by the HKSAR government have been extended to benefit 1.78 million eligible elderly Hong Kong residents [3] Institutional Innovation - Qianhai has generated 47 institutional innovation outcomes that have been replicated nationwide, with a 90% implementation rate of the "30 Financial Support Measures for Qianhai" [4] - The Shenzhen-Hong Kong International Financial City has attracted 522 financial institutions, showcasing its growing financial sector [4] Innovation Index - Qianhai has consistently ranked first in China's innovation index for pilot free trade zones, particularly excelling in overall institutional innovation [5] Industrial Development - The area has developed 18 specialized industrial clusters, attracting notable enterprises like POP MART and KONE Corporation to establish regional headquarters [6] Future Outlook - As the Qianhai Plan is implemented, it is positioned as a new engine for the Greater Bay Area's development and a significant window for observing China's reform and opening-up initiatives [7]