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Jimo sees great economic potential

(chinadaily.com.cn) | 2019-10-30

Over 400 local and overseas guests took part in the 2019 Jimo Innovation and Development Conference from Oct 27-28 to discuss the future development of Qingdao's Jimo district.

Most attendees were entrepreneurs and scholars returning to their hometown to witness the changes it had undergone. They voiced their thoughts on the district's development, including its marine economy, rural revitalization, and cultural tourism.

"I'm surprised by Jimo's rapid development. It now boasts many advanced projects," said internet education practitioner Jiang Jigang, who works in Beijing and intends to start a business in his hometown.

Jimo has grown by 6.7 percent in the first half of 2019, bringing its GDP to 76.53 billion yuan ($10.83 billion). Over 40 industrial parks have been established to support economic development, including Qingdao Oceantec Valley, Qingdao Automobile Industry New City, the Jimo Economic Development Zone, and Jimo Ancient City.

In recent years, Jimo has been demonstrating its manufacturing prowess in the development of transportation equipment. Airbus Helicopters, the largest global helicopter manufacturer, launched its first H135 helicopter final assembly line outside of Europe in Jimo in April.

The district is also moving forward in innovative industries such as artificial intelligence and intelligent manufacturing.

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Over 400 local and overseas guests take part in the 2019 Jimo Innovation and Development Conference. [Photo provided to chinadaily.com.cn]

During the conference, Jimo Party Secretary Zhang Jun said that Jimo is playing its part in Qingdao's economic development and opening-up. The district government will continue to help promote the city's business environment and services to attract more investment.

According to officials, Jimo has built a new investment promotion system to standardize procedures for attracting investment. The system is made up of 16 professional investment business units, 10 modern industry investment development offices, and five market-oriented investment companies.

A total of 138 projects have been signed in Jimo so far in 2019 to develop new industries, a modern marine industry, and tourism. Forty-four Fortune Global 500 companies have invested in Jimo.

A total of 32 projects were also signed during the conference, three of which are from Fortune Global 500 companies. Chinese tech giant Huawei will build its Qingdao technology city in Jimo.

During their two-day visit, guests visited Qingdao Oceantec Valley, FAW Volkswagen (Qingdao) East China Logistics Park, Lianhua Mountain scenic area, and Jimo Ancient City.

Huang Xiaorong, vice director of the Shenzhen Science and Technology Entrepreneurship Promotion Association, spoke highly of Jimo's business environment and was optimistic about the district's economic potential.

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Jimo's Qingdao Oceantec Valley is home to a number of national marine projects. [Photo provided to chinadaily.com.cn]