The eastern coastal city of Qingdao, Shandong province held a New Year reception for entrepreneurs on Jan 15 in celebration of the upcoming Chinese Lunar New Year.

More than 500 entrepreneurs from the Shandong Chamber of Commerce, venture capital institutions, foreign-funded companies, state-owned companies, and local companies gathered at the event to strengthen dialogue, promote cooperation, and seek common development.

Wang Qingxian, Party secretary of Qingdao, gave a keynote speech at the event, during which he thanked entrepreneurs' contributions to the development of Qingdao.

Wang Qingxian, Party secretary of Qingdao, gives a keynote speech at the event. [Photo provided to chinadaily.com.cn]

"It is a great pleasure to join you all today in Qingdao and work toward future cooperation and development," said Wang.

He said that Qingdao's economy has maintained rapid development and it has the strongest economy in Shandong province. He also said that a more open, dynamic Qingdao will bring about tremendous development opportunities for both local and foreign entrepreneurs.

"2019 was a very significant and extraordinary year for Qingdao's development, as the city prepared to build the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation, a new platform for international cooperation under the Belt and Road, as well as a part of the China (Shandong) Pilot Free Trade Zone."

Qingdao hosts a New Year reception for entrepreneurs on Jan 15 in celebration of the upcoming Chinese Lunar New Year. [Photo provided to chinadaily.com.cn]

Qingdao has been ramping up efforts to optimize its business environment, streamline government functions, and develop an efficient service-oriented government with the goal of achieving the same success levels as Shenzhen.

Wang expressed hope that participants would explore more cooperation opportunities with local enterprises and institutions and help boost the city's international profile.

At the event, it was decided that Nov 1 would be designated as "Qingdao Entrepreneurs' Day", and the first week of November would be a publicity week for Qingdao entrepreneurs.

Twelve new trade associations were inaugurated during the event as well.