Shinan boosts building economy
chinadaily.com.cn| Updated: August 25, 2021
The Shinan district of Qingdao city – located in East China's Shandong province – is upgrading its business environment with moves to boost its local building economy service management platform, according to local media reports on Aug 20.
The building economy is the modern move to fully integrate an area's buildings and its commerce, making the "building economy" an organic entity and a new industry for driving the economy. Buildings are no longer limited to serving as just real estate properties, but rather are agents for growth.
Shinan currently has more than 130 business office buildings – each with more than 5,000 square meters – with a total construction area of nearly 5 million sq m. The district is home to more than 25,000 enterprises mainly related to the financial industry and modern services industry and has 21 buildings which generate total annual tax revenue of more than 100 million yuan ($15.43 million).
In addition, local enterprises which rent offices in the buildings benefit from local preferential commercial policies. In 2020, a group of 21 enterprises were awarded 6.1 million yuan for their outstanding achievements in boosting the local building economy.