A new industrial park, funded by Vanyang Group with a total investment of 6.6 billion yuan ($1.01 billion), started construction on April 9 in Pingdu, a county-level city in Qingdao, Shandong province.

The industrial park funded by Vanyang Group starts construction on April 9 in Pingdu. [Photo/qingdaonews.com]

Spanning an area of 100 hectares, the park has a planned construction area of about 2.5 million square meters, which can accommodate more than 600 small and medium-sized enterprises, providing more than 17,500 jobs. It is expected to be able to generate an annual output value of 30 billion yuan when put into operation, with profits and taxes projected to reach 3 billion yuan, said local official.

The park will be built into a modern and new manufacturing cluster for the whole industrial chain of smart homes, electronic components, and equipment manufacturing, supported by Haier, Hisense, TGOOD, Aucma, as well as other companies in Pingdu.

Headquartered in Wenzhou, Zhejiang province, Vanyang Group is a manufacturing cluster platform operator, as well as a small and medium-sized enterprise cluster service provider.

The park is designed to offer integrated services to small and medium-sized enterprises. [Photo/qingdaonews.com]

The company has developed over 80 projects in the same vein in the Yangtze River Delta, the Pearl River Delta, and other key regional cities, covering an area of more than 60 million square meters and serving more than 12,000 enterprises.

"Qingdao is our first stop in northern China," said Wu Jianming, president of Vanyang Group. "Besides the park in Pingdu, we will build another in Qingdao's Jiaozhou."

"We aim to provide better services to small and medium-sized enterprises, as well as accelerate the integration of upstream and downstream industrial chains," Wu added.