The opening ceremony for the Sino-international Entrepreneurs Federation Qingdao Center takes place. [Photo/dzwww.com]

The opening ceremony for the Sino-international Entrepreneurs Federation Qingdao Center was held in Shinan district, Qingdao city, East China's Shandong province, on June 20.

The heads of global top 500 enterprises, executives of local enterprises in Qingdao from home and aboard and media representatives were invited to the ceremony.

The total scale of the fund will reportedly be 2 billion yuan ($308 million), with funding of 500 million yuan for the first phase now in place. It will mainly invest in areas related to health, the maritime industry, consumer innovation, intelligent manufacturing and scientific and technological innovation.