Gujarat International Finance Tec-City (GIFT) and Qianhai Shenzhen, the Silicon Valley of China have entered into Intent of Co-operation to develop smart cities in a reciprocal manner on Wednesday during Gujarat CM Anandiben Patel's visit to China.
The Qianhai Shenzhen - Hong Kong Modern Services Industry Cooperation Zone (MSICZ) and GIFT City signed the agreement for the purpose in presence of the Gujarat CM. Situated at the shore of South China Sea and adjacent to Hong Kong and Macau, MSICZ has been developed as an innovation area for modern service industry, acting as a pilot area for close cooperation between Mainland China and Hong Kong.
Shenzhen is a major city in the south of southern China's Guangdong province. Shenzhen today, is dubbed as China's Silicon Valley and is home to one of the most vibrant economic zone in China. It also boasts of one of the busiest container ports in the world.
GIFT City is an initiative of the Government of Gujarat to provide world-class infrastructure and facilities to finance and technology firms. It is being designed as a smart city of the future and is expected to become a major financial hub of the country in the coming decades.