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Hong Kong protests

China works to turn Shenzhen into the new Hong Kong

New infrastructure and reforms would help city replace island as investment hub

China is positioning Shenzhen as a new economic and investment center that will compete with Hong Kong.   © Reuters

HONG KONG -- The Chinese government aims to transform Shenzhen into a global business center, in an apparent gambit to position the southern city as a model of stable prosperity compared with neighboring Hong Kong.

Shenzhen will receive business regulations that conform to international standards, as well as more favorable rules to spur investments and acquisitions, according to a document released Sunday by the State Council, China's cabinet.

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