Shenzhen in south China's Guangdong Province will beef up cooperation with neighboring Hong Kong in the service industry, seeking complementary rather than competitive results, said Wang Rong, Secretary of the Shenzhen Municipal Committee of the Communist Party of China.

Under the plan, Shenzhen will invest 40 billion yuan ($5.9 billion) to build a 15-square-km service industrial zone. The zone is expected to have an economic output of 150 billion yuan ($22 billion) by 2020 from financial institutions and logistics, technology, telecommunications and media companies it hosts.

Shenzhen can back up Hong Kong's modern service sector with its manufacturing and technology competence, while both sides can share the convenience of each other's developed logistics infrastructure, Wang said.