The Qingdao Area of the China (Shandong) Pilot Free Trade Zone in Shandong province held its inaugural 2024 investment promotion conference in Shanghai's Pudong New Area. Attended by 130 senior executives from 82 companies in various industries, the event showcased the zone's commitment to fostering high-quality development.

Gao Shanwu, deputy secretary of the Qingdao West Coast New Area Work Committee and director of the Qingdao Free Trade Zone Management Committee, delivered a keynote speech titled "Sharing free trade opportunities, seeking high-quality development." He highlighted the zone's achievements in 2023 and outlined plans to establish a high-value integrated circuit industrial park and specialized innovation bases.

Deputy secretary Gao addresses the participants. [Photo/WeChat account: qingdaozimao]

Representatives from leading enterprises, including Gao Bo, co-chairman and president of Mysteel, Shanghai Ganglian E-Commerce Holdings Co Ltd, and Li Chao, founder and chairman of Hefei Baseline Electronic Technology Co Ltd, emphasized the importance of optimizing the business environment for sustainable growth.

Officials presented updates on the zone's digital-based commodity trading systems and the development of its integrated circuit and genetic technology sectors.

The conference facilitated open discussions among participants, fostering collaboration and exploring future prospects.

Over the past four years, the Qingdao FTZ has attracted significant investment, with 70 projects from the world's top 500 companies, leading to an annual average growth rate of 21.1 percent in foreign trade.

The event is part of the zone's proactive approach to promoting outbound investment. It aims to learn from Shanghai's open practices and create more extensive opportunities for cooperation.