The Shinan district – in Qingdao city in East China's Shandong province – is upgrading its business environment, with moves to boost its local building economy services management platform.

The building economy is the modern move to fully integrate an area's buildings and its commerce. Under the concept, the building economy is a new industry driving the local economy – with buildings no longer limited to serving as real estate properties, but as agents for growth.

Shinan is said to have focused on improving its business environment with the aim of encouraging innovation and entrepreneurship – as well as stimulating the local building economy – by rolling out a raft of favorable fiscal policies.

The Zhanshan sub-district of Shinan recently introduced its new "1+3+N" policy – where the "1" refers to a one-service department for local enterprises, the "3" refers to three service centers for local enterprises and the "N" refers to a Party-building courier station.

In addition, the district is also home to more than 25,000 enterprises, mainly related to the finance industry and modern services industry. It has 21 buildings, which generate total annual taxable revenue of more than 100 million yuan ($15.43 million).