Shenzhen released yesterday three new work plans to create a superior business environment that is market-oriented, law-based, and internationalized, demonstrating Shenzhen’s unwavering commitment to nurturing the best possible business environment for market entities.

As per the plans, unveiled at a press conference held by the Shenzhen Municipal Government Information Office, the city will further expand its high-level opening up by offering more opportunities for foreign investors to engage in the telecommunications, internet, education, healthcare, big data, and AI sectors, aiming to achieve an actual use of more than 50 billion yuan (US$6.8 billion) of foreign investment this year.

The city will enhance services and support for foreign-invested enterprises, streamline registration and establishment procedures for those enterprises, and provide them with the latest preferential policies.

In 2024, Shenzhen topped the nation in the number of newly established foreign-invested enterprises with 9,738, a year-on-year increase of 21.7%.

To create an open ecosystem for scientific innovation, the city will introduce a number of world-class technological innovation institutions, including international organizations, high-level research institutions, and R&D centers of top-tier enterprises.

To attract international talent, Shenzhen will lower the threshold for international professionals to practice locally and improve the service support system. To address the living convenience issues that concern international talent most, the city will accelerate the construction of international business districts and enhance payment convenience for foreigners, thereby building a comfortable environment for international residents that covers retail, healthcare, education, and leisure.

To encourage startups, a new driving force for Shenzhen’s economic development, the city will develop an intelligent guidance system for the registration of startups that includes smart services in policy interpretation, form filling, and policy updates. It will arrange no less than 16 million sqm of entrepreneurial space, allocate rent-free space for startups, offer rent discounts to some small and medium-sized firms, and provide public facilities such as shared roadshow halls, meeting rooms, and print rooms.