The Qingdao Wanyang Technology and Innovation Park broke ground recently in the Qingdao Area of the China (Shandong) Pilot Free Trade Zone, or Qingdao FTZ.

With a total investment of 3 billion yuan ($420 million), the significant project will cover a planned construction area of around 400,000 square meters. Upon completion and operation, it is set to generate an annual output value of around 3.2 billion yuan.

The park is designed as a comprehensive, innovation-driven demonstration zone. It will feature multi-story standard factories, customized plants, and supporting facilities. Focusing on next-generation information technology, artificial intelligence, smart manufacturing, and high-end equipment, the park will combine R&D, e-commerce, warehousing and logistics, financial services, and smart management into a single ecosystem.

This initiative aligns with the broader industrial strategy of the Qingdao FTZ, which has been actively developing sectors like smart manufacturing and integrated circuits.

The new park will strengthen this foundation by providing essential upstream and downstream support for existing industries. Furthermore, its platform-based model is set to attract clusters of small and medium-sized enterprises, offering vital support for the upgrading of the area's advanced manufacturing capabilities.

A rendering image of the Wanyang Technology and Innovation Park. [Photo/WeChat account: qingdaozimao]