Facing the threat of a global economic crisis, Qingdao raised the overall quality and level of open economy to look for opportunities.

News from Qingdao Municipal Bureau of Commerce said that Qingdao has made clear the rigid target of foreign trade this year. According to the target, Qingdao is to finish $46.3 billion of import and export, of which $27.9 billion would be exports. It has also set as a target a year-on-year growth of 5% and to achieve about $2.6 billion of contracted foreign capital, with actual appropriation of $1.8 billion of foreign capital.

Even through the tough international economic situation, Qingdao completed $44 billion import and export value last year. Agricultural products, garments, textiles and tire industries boosted the city's exports, which grew by 2%; high-tech exports accounted for 10.8% of the city's total.

In 2009, Qingdao approved 647 foreign investment projects and $2.72 billion of contractual foreign investment. Advanced manufacturing and modern service industry projects accounted for more than 75%. Six of the newly approved projects are among the world’s top 500.

“Qingdao International e-commerce platform” and “Qingdao International Trade Services Platform” are built to encourage more than 2,600 enterprises to use e-commerce to expand their business.

A delegation from Qingdao has traveled to key countries and regions to promote the "circum-Gulf conservation, pro-Bay development" last year, aimed at building a blue economic zone and high-end industrial complex. In July, Qingdao went to Hong Kong to make some recommendations that directly contributed to a total investment of $18.63 billion and $5.46 billion of agreed foreign capital. In September, similar activities were held in Japan and Korea, and 59 projects were signed, with a total investment of $3.85 billion and $2.18 billion of agreed foreign capital.

It is significant that the development of service outsourcing in Qingdao reached a volume of $163 million, up 202.6%.

In 2010, Qingdao plans to guide the enterprises to implement technological and management innovation and improve the export of traditional products with high added value.

More efforts will be needed to support the construction of autonomous export brands and activities of enterprises’ trademark registration, patent applications, and quality and brand cultivation.

In addition, Qingdao will continue to promote trade facilitation, accelerate the development of electronic commerce and build efficient information exchange and collection platform for the development of foreign trade enterprises to provide information services.

In 2010, local authorities will organize large-scale business investment activities in Hong Kong, Taiwan, Japan, South Korea, Germany and other countries and regions.

By Dai Yan (China Daily Shandong Bureau)

Editor: Li Jing