In the first half of this year, Qingdao's Shinan district brought in 52 domestically funded projects and 20 foreign-funded projects, each with more than 100 million yuan ($14.92 million) in investment, Qingdao Daily reported.

Among them are a project funded by a Fortune Global 500 business, two projects each with an investment of 3 billion yuan, and one project with a 10 billion yuan investment.

To date, the district has 93 projects under discussion, up 304.3 percent year-on-year, and 26 of which have ensured investment amounts totaling 10.6 billion yuan.

Shinan district has drawn out specific targets of investment attraction in its six pillar industries – modern finance, digital economy, high-end commerce, fashion and consumption, shipping and logistics, and culture and tourism, aiming to strengthen the industrial chains and boost economic development.

The district has fully utilized big events, such as the Qingdao Multinationals Summit and the Sino-European Entrepreneurs Summit Qingdao Forum, to promote Shinan's reputation and facilitate cooperation.

To discuss potential for collaboration, the local government also keeps in regular contact with the provincial overseas Chinese association and entrepreneur alliances.