The Qingdao (Shinan) Technology Exchange Market, also known as the National Ocean Technology Transfer Center Shinan Center, opened in Shinan district of Qingdao, Shandong province, at the end of March.

The market, backed by various forces including government, industries, research institutes, financial institutions, is expected to develop into a platform that offers innovative services and professional industrial incubation, and where international technological partnerships are built and online technology transactions are possible.

The institution is considered another significant move that the Shinan district made to promote technological innovation after the launch of an industry-university-research innovation alliance. And it is believed that it will be a strong support to the district’s high-quality economic growth.

With an additional title of an ocean technology transfer center, the institution will take advantage of the city's location close to the sea and its abundant marine resources to promote ocean technology transfer, particularly improving local ocean technology transfer capacity.

Covering an area of 4,500 square meters, the market includes a science and technology service building to bring in and incubate leading Chinese and overseas science and technology service agencies, a technology transaction service hall, a technology transfer service website where people can communicate online and where related information can be published, and where data are collected and analyzed. It also includes a technology financial service center offering services such as financial matchmaking and setting up science and technology development funds.

Eight service windows are set up in the market, covering legal consulting, tax services, high-profile talent services, financial services, technology transactions, technical consulting, IP services, and international cooperation.

It aims to offer comprehensive services to local enterprises, universities, research institutes, and financial and science and technology service institutions.

Different from other markets, the Shinan market also offers office space and intellectual support to the district's newly-established industry-university-research innovation alliance and Innovative Service Coordination Organization (ISCO).

The two organizations, results of the city’s technology-driven strategy, will join hands to advance technology transfer. The innovation alliance will help technological achievements leave their labs, go to the market, and be industrialized. And the ISCO will integrate international resources and help Chinese technological achievements to go global as well as bring in overseas achievements.

The market is expected to be multinational, connect scientific research supply and market demands, incubate key industries such as marine economy and new generation information technology, establish a mechanism that allows discovery and evaluation of technological achievements more quickly, and drive the development of local enterprises, universities and research institutes.