The Qianhai Pilot Free-Trade Zone in Shenzhen is expected to expand cooperation with Hong Kong in the coming years.

Wang Jinxia, deputy director of the China (Guangdong) FTA Qianhai Shekou administrative committee, says the zone, adjacent to Hong Kong, has unique advantages to deepen cooperation and become a new area for Hong Kong companies' future industrial transformation and upgrading.

So far, major companies including HSBC, BEA, HKEX Group, Kerry Group, Chow Tai Fook, New World and Wharf Holdings Ltd have set up facilities, subsidies or branches in Qianhai.

Wang says more laws and regulations will be introduced to protect the legal interests of overseas-funded companies and ensure efficient and transparent government operation.

He says Qianhai still has a lot of room for expanding cooperation with Hong Kong; zone leaders plan to offer about one-third of the zone's land to companies from Hong Kong.

In addition, many cooperative opportunities have been created under the country's Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area plan.

There also are plans for Qianhai to become a regional financial center through expanding cooperation with Hong Kong, one of the major international financial centers in Asia, since the financial industry has great potential for growth in Qianhai, Wang says.

"In addition to investments, the Qianhai FTZ hopes to attract more talent in the finance industry from Hong Kong and learn more management experience," Wang says.

Moreover, Qianhai hopes to attract offshore companies to help develop its cross-border finance, e-commerce, modern logistics and new and high-tech industries, according to Wang.

To this end, preferential policies in taxation, financing, land use rights, foreign trade and customs have been put in place, aiming to further improve Qianhai's investment climate in line with international practice, he says.

"Hong Kong companies and investment are playing an important role in Qianhai's economic development," Wang adds.

According to official statistics, Qianhai had attracted 7,720 Hong Kong companies by the end of February, with a registered capital of 883.75 billion yuan ($140 billion; ￡117 billion). The actual investment from Hong Kong to Qianhai has seen annual growth of 206 percent in the past three years.

Last year alone, 2,482 Hong Kong companies, with an investment of 314 billion yuan, settled in Qianhai. Qianhai attracted foreign investment of $4.45 billion in 2017, up by 16.9 percent year-on-year and accounting for 60.09 percent of Shenzhen's total.

By the end of last year, more than 164,900 companies from home and abroad had registered in Qianhai.