In the first half of the year, the added value of the financial industry in the district of Shinan – located in Qingdao city in East China's Shandong province – reached 14.98 billion yuan ($2.35 billion), accounting for an estimated 22.4 percent of the city's total GDP.

Progress was accelerated on 177 major new projects with a total investment of 143.6 billion yuan and high-end buildings such as the Haitian Center were completed. This provided first-class platforms for multinational companies and Fortune 500 companies to settle down in the district.

During the 14th Five-Year Plan period (2021-25), Shinan is projected to fully develop its newly emerging economy – as represented by the digital economy – and to cultivate a new development path for its technology industry.

By 2025, the number of small and medium-sized enterprises in the area focusing on  science and technology is projected to have grown from 359 in 2020 to 800 and the scale of industrial funds will reach 10 billion yuan. The cumulative share of high-tech industries in industries above a designated size is projected to have increased from 43.4 percent in 2020 to 60 percent.

Shinan has attracted aggregated registered capital of 42.24 billion yuan, an increase of 7.68 percent year-on-year and during the period the registration rate of new projects was 80 percent. In addition, domestic capital actually utilized totaled 11.88 billion yuan, up 214 percent year-on-year. Meanwhile, actual foreign investment reached $341 million, up 1,266 percent year-on-year. These latter figures were both record highs.

The district is said to be upgrading its business environment, with moves to boost its local building economy service management platform.

The Haitian Center – the tallest building in Qingdao and also in Shandong province – has been  recognized as a "China Building Economy Top 50" and a "Benchmark Building".

The building economy is a modern move to fully integrate an area's buildings and its commerce. Under its precepts, it is said that the building economy is an organic entity and a new industry for driving the wider economy. Buildings are no longer limited to serving as just real estate properties, but are rather regarded as being agents for growth.

In addition, in June Shinan implemented its "1+N+2" talent recruiting policy – aiming to promote industry amalgamation in the district.

The "N" in the term refers to talent recruiting specifications related to industries, including the financial innovation entrepreneurship, wealth, education, sports and cultural originality sectors – with the two systems of detailed regulations set to improve the comprehensive well-being of employees in Shinan.

During the period of the plan, the maximum reward and one-time support grants for newly recruited top talent and national and provincial level talent – registered in Qingdao for innovation and entrepreneurship – will be 8 million ($1.24 million), 4 million and 1 million yuan, respectively.