Hong Kong startup founders flock north to tech hub Shenzhen

Mainland city's incentives draw new businesses as Beijing pushes integration

20240731 Shenzhen 1

Lu Xinyi is among the entrepreneurs at the Bays Work accelerator in Shenzhen. (Photo by Itsuro Fujino)

ITSURO FUJINO, Nikkei staff writer

GUANGZHOU -- As China moves to integrate Hong Kong more closely with the mainland, the neighboring tech hub of Shenzhen has become a magnet for talent from the territory, drawing entrepreneurs northbound to start new businesses.

In 2021, Sisley Cheng and a business partner invested 10 million yuan ($1.4 million at current rates) to launch the Bays Work startup incubator in Shenzhen.

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