Information Technology companies operating within an innovation hub jointly developed by Hong Kong and Shenzhen have said that their office location allowed them to gain a competitive edge through cheaper rents, subsidies for innovation and easier access to talent.
The Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, an initiative proposed by Beijing in 2017, comprises two areas separated at the border, with Hong Kong contributing 87 hectares (215 acres) and its mainland Chinese city offering 302 hectares.
The zone is aimed at attracting talent, creating wealth and transforming strategic industries.
“We ultimately established our office in the Hetao [Shenzhen area] after considering various cities in Guangdong Province, due to its geographic advantages, close ties to Hong Kong, and a wealth of talent,” said Zhou Jun, vice-president of Towngas Smart Energy and also head of the technology application centre at the Hong Kong and China Gas Company.
He added that Shenzhen had a large pool of young talent, and that the atmosphere for start-ups was vibrant.
He said establishing offices in Hetao offered numerous benefits. Citing his own company as an example, he explained that they received support from the Shenzhen government in the form of relatively lower office rental rates compared to market prices
He also added that they received a subsidy of 10 million yuan (US$1.37 million) for research and development from the Shenzhen government.
