Shinan district in Qingdao promoted the signing of five key projects during the Second Conference of Great Business Partners and the International Summit on the Innovation and Development of Young Entrepreneurs, which opened on June 30 via online channels across Shandong.

A number of young Chinese and foreign entrepreneurs were invited to participate in the online business summit. The district took full advantage of the summit and received nearly 6 billion yuan ($848.93 million) in total investment.

Since the beginning of this year, Shinan district has been carrying out both online and offline investment promotions on the regional digital investment service platform. To date, 266 projects have been established in the district, with a registered capital of up to 23 billion yuan.

The regional headquarters of 14 famous enterprises, including Shandong Port Group Co and Fresh Mart, have been established in the district as well. In addition, Qingdao Century Ruifeng Group Co, a leading foreign trade enterprise in the district, has developed cooperative relations with Delong Steel Group, one of China's top 500 enterprises.

Shinan district plans to use the summit to attract investment, communicate with participants, improve its project system, and attract more entrepreneurs to the district.