Entrepreneurs: Shinan full of development opportunities
Shinan district in Qingdao is focused on being a welcoming investment destination. [Photo/WeChat account: qdweishinan]
Shinan district in Qingdao, Shandong province, is the birthplace of 13 Famous Trademarks of China, and is home to more than 50 regional headquarters of Fortune Global 500 companies and about 96,000 market entities.
With an area of 0.27 percent of Qingdao, Shinan generates 10 percent of the city's GDP, 15 percent of the service volume, and 33 percent of the added value of Qingdao's finance industry.
The district focuses on developing its six pillar industries, which include modern finance, the digital economy and high-end commerce to create a first-class business environment, attracting an increasing number of enterprises to set up operations in the area.
When asked why they chose Shinan, local entrepreneurs have their reasons:
"Shinan respects, emphasizes and is welcoming to businesses," said Wu Dapeng, general manager of the financial arm of Chinese home appliances giant Hisense Group.
Han Feizhou, general manager of Integrated Electronic Systems Lab Co, hailed the Shinan government as being pragmatic. "They never disturb us, yet respond timely to our needs."
For Byherb, a material producer based in Shinan, the most impressive aspect is the district's "warm heart". When the company had difficulties selling its new product, the Shinan government created opportunities for it by holding a matchmaking meeting that gathered 16 compatible companies.
More opportunities are becoming realities as the district plans to renovate its historical areas within the next three years.
Officials said that more than 60 billion yuan ($8.99 billion) is expected to be put into more than 100 construction projects in the next three years, presenting a huge investment demand and business opportunities.