Shenzhen Opening-up: FTA a window for start-ups to connect with the world

World
Europe

03:09

To Southern China we go. The Qianhai-Shekou Free Trade Area in Shenzhen continues to earn its keep as a business intersection between China and the rest of the world. It's home to two-thirds of the globe's Fortune 500 companies as well as smaller startups. CGTN's Sun Tianyuan takes us to Shenzhen to find how local government is helping these smaller companies grow and connect with the world.

Shenzhen, the birthplace of China's reform and opening-up. It's now a hotbed for young start-ups like Gooplayer based in the Qianhai-Shekou Free Trade Area.

HUANG BINGCHI, CEO QIANHAI GOOPLAYER TECHNOLOGY "It's great being here. We received almost instant feedback and help in legal and financial affairs, as well as intellectual property rights related issues, from the FTA's Youth Innovation and Entrepreneur Hub."

The Entrepreneur hub has 340 venture teams, half of which are from overseas. For Jame Ryan, from Northern China’s Hebei province, moving down South was a life-changing opportunity.

JAMES RYAN FOUNDER OF EKASBO "Coming here was the best decision I ever made. Shenzhen is a city of inclusiveness and openness. The local government has been providing tremendous support, both preferential policies and financial aids for start-ups like us."

Ryan opened an AI company in the FTA three years ago. Back then, this startup had only 5 employees. Now the team has grown 10-fold.

"Do you like Shenzhen, Dabao?"

"Shenzhen is a really nice place."

Ryan's matebots are now sold in Japan and South Korea, with further plans to reach North America next year. Meanwhile, Huang is targeting the European market.

HUANG BINGCHI, CEO QIANHAI GOOPLAYER TECHNOLOGY "One of our major services is that we promote good Chinese products and brands to North America and Europe. And the FTA has the very first-hand tech-related information from home and abroad, so we can conduct our business the first time around."

The FTA thus opens a path between China and the rest of the world, and it goes two-way.

AARON YI, PARTNER ZHONGZIQI INCUBATOR "We not only want to introduce Chinese companies to foreign countries, but also will introduce overseas companies to China. We will help them locate in our innovative space (hub) and also help apply subsidies from the (Chinese) government."

So far, more than half of the FTA's venture projects have obtained financing - a combined total of 1.5 billion yuan, or 200 million US dollars.

SUN TIANYUAN SHENZHEN "From a small fishing village decades ago, to a mega city today, Shenzhen has transformed over the past 40 years. As the city evolves into a bigger international hub for business and innovation, it will be home to more entrepreneurs with ambitions and dreams. Sun Tianyuan, CGTN, Shenzhen, Guangdong province."