The Chinese government wants to create a global financial centre from scratch. The centre — Qianhai — will sit in Shenzhen and attract firms from high-tech, logistics and financial companies. Local laws currently give the development the status of a large-scale real estate project. Yet, with significant legal changes, Qianhai can increase profits in the region by 4 to 10 fold.
For the full study, see: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2907608