A press conference was held by the Information office of the Qingdao municipal government on July 13.

Zhao Aiping, director of the Shinan Development and Reform Bureau, answered media questions on the progress of key projects in Shinan and on measures to stabilize foreign trade and investment.

In the first half of this year, the growth rate of fixed asset investment increased by nearly 5 percent over the same period last year. There are a total of 41 key industrial projects underway in Shinan, with the Haitian Center recently being completed.

As a traditionally strong foreign trade district in Qingdao, Shinan has taken several concrete measures to stabilize foreign trade and investment.

There are more than 3,000 foreign trade enterprises in Shinan, for which Shinan has rolled out four new measures to assist them.

Firstly, Shinan has implemented various policies to stabilize foreign trade, launched an application for export credit insurance subsidies for 124 export enterprises in 2019, and provided 6.11 million yuan ($873,368) to 74 small and micro-sized foreign trade enterprises.

Secondly, in response to the financing difficulties faced by these enterprises, Shinan has made every effort to transform their tax assessment information, helping them boost their credit and financing capacity. To date, more than 4 million yuan has been granted to five foreign trade enterprises.

Thirdly, Shinan is helping foreign trade enterprises develop new products and increase sales through the Pinduoduo platform. Enterprises are also encouraged to promote their new products through the international exhibition platform of Shandong province.

Fourth, a professional team for foreign trade and investment has been established in the district, which is expected to provide more personalized services to key foreign trade enterprises throughout the year.