Qingdao officials are planning to build a private bank street in hopes of finally becoming the fortune center of China.

According to “Qingdao Government’s Suggestions on Enhancing the Development of Private Banks”, members of the Qingdao government will set up a special fund to support the development of private banks in the next few years. They will also designate a sector which will combine beautiful natural environment and perfect infrastructure for those banks to settle.

With hopes of making private banking one of the Qingdao’s featured industries, the city’s municipal government representatives will establish private-banking training bases and hold a regular Private Banking Development Forum.

By Yu meng and Liu Yang