A promotional conference was hosted by Shinan district, Qingdao during the 2020 Global Venture Capital Online Conference on May 8.

Gao Jian, head of the district, gave a speech and emphasized that the district is now stepping up efforts to build itself into an international center of regional headquarters economy, trade, finance, transportation and fashion.

Representatives from several enterprises and institutions were invited to the conference, such as Yi Tsai and the Beijing Institute of Fashion Technology's innovative industrial park in Qingdao. They introduced the reasons they chose to operate in Shinan and expressed optimism for their development prospects.

Shinan boasts 11 provincial research institutes, 117 municipal high-tech enterprise incubators, 16 innovative incubators gaining national permits, and 10 professional business platforms. It has also attracted about 210,000 talented individuals engaged in various fields and own 4,425 patents of invention.

The district has 32 institutions providing technology transfer services, more than any other district in the city. In 2019, its turnover in technological exchange was 1.76 billion yuan ($248.11 million).

As a center of modern services for not only the city but all of Shandong province, the district's added value in the service industry accounted for 89.2 percent of its total output value last year. The district plans to create 10 industrial chains worth 10 billion yuan each.

A total of 129 high-end commercial buildings, 147 headquarter enterprises and 50 regional headquarters of Fortune Global 500 enterprises now operate in the district. 

The local government is working to improve the business environment and has put forward several supporting policies to boost economic development in the district.

A promotional conference is hosted by Shinan district, Qingdao during the 2020 Global Venture Capital Online Conference on May 8. [Photo/WeChat account: qdweishinan]