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Qianhai, an innovation park in Shenzhen, seeks to become a global centre of innovation. The lessons that the Qianhai’s law teach us could apply to other special economic and innovation zones worldwide. Yet, problems with its legal design plague the US$4.5 billion project. Some of these include weak and abstract rulemaking as well as a lack of objectives and devolved authorities. Fixing the existing law governing the Qianhai region will require a Hong Kong-Shenzhen Agreement (giving Hong Kong a greater stake and say in the region), privatizing the Qianhai Authority, revising Hong Kong law to allow for easier and more profitable university spin-outs, retargeting the subsidies used in the region, and fixing the innovation agencies in the region (most notably Hong Kong’s).

The Legal and Administrative Design of the Qianhai Special Economic Zone