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Qingdao, Germany team up to advance Industry 4.0

(chinadaily.com.cn) | 2021-08-31

The Sino-German (Qingdao) High-tech Cooperation and Exchange Seminar was held via online and offline channels on Aug 27 in Laoshan district, Qingdao.

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The Sino-German (Qingdao) High-tech Cooperation and Exchange Seminar is held on Aug 27. [Photo/qingdaonews.com]

During the seminar, the Qingdao Mingchang International Technology Incubator and the Fraunhofer Institute for Industrial Engineering IAO signed a memorandum of cooperation on the future construction of the China-Germany International Digital Technology Incubator Park.

According to the memorandum, the two sides will focus on the establishment, planning, promotion, as well as support of the science and technology industry park's development. They will also work together to provide smart manufacturing, industry 4.0, and engineering 4.0 development paths and roadmaps for local enterprises, as well as public-sector bodies and institutions.

Fraunhofer-Gesellschaft is one of the leading organizations for applied research in Europe. Its research activities are conducted by 74 institutes and research institutions at locations throughout Germany, covering almost all of the frontier fields of natural and social sciences.

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Officials from Qingdao and Germany hold online talks. [Photo/qingdaonews.com] 

Mingchang International Technology Incubator, which is committed to creating a smart science and innovation park, will set up a science and innovation fund of 1 billion yuan ($154.8 million), as well as set up a science and technology investment company, focusing on investing in mature enterprises and projects.

Since the beginning of 2020, Qingdao has been ramping up efforts to build the city into the world’s industrial internet capital, leveraging technological and industrial opportunities. The eastern coastal hub has been promoting cooperation with Germany with regards to Industry 4.0.

Official data showed that there are 499 German companies in Qingdao, with contractual foreign investment reaching $4 billion and actual foreign investment hitting $3.07 billion. In 2020, the total volume of trade between Qingdao and Germany reached $3.06 billion, up 4.2 percent year-on-year.