According to local media, Qingdao has seen a flourishing venture capital market as a result of several supportive policies aimed at establishing a global venture capital center.

The Global (Qingdao) Venture Capital Center [Photo/Guanhai News]

According to industry insiders, the number of private fund managers, the number of managed funds, and the size of managed funds are three significant metrics for measuring the development of the private fund sector in a city.

According to the Asset Management Association of China's (AMAC) monthly report on private fund manager registration and private fund product filing, Qingdao had 438 private equity fund managers registered with the AMAC by the end of January, ranking 10th in China. Qingdao has 1,819 funds under management, placing it eighth in China. The total size of managed funds in Qingdao was 176.47 billion yuan ($27.95 billion), putting it in 14th place in the country.