The 2023 Qingdao Global Venture Capital Conference (GVCC) commenced on May 12, attracting nearly 100 international industry experts and executives to discuss the financial sector's future and opportunities in Qingdao. One significant sub-forum in Shinan spotlighted the district's financial acumen and progress in enhancing its business climate.

As a financial hub in Shandong province, Shinan has successfully attracted businesses, such as Yingda Taihe Life Insurance Co, by amassing 140 financial institutions in the district. From January to April, Shinan introduced 48 key projects with a total investment that exceeded 15 billion yuan ($2.16 billion) and boosted the actual use of foreign capital to $205.41million, a 757.3 percent year-on-year increase.

To support real economy development, Shinan is incorporating financial institutions into service categories and improving the financial landscape through package-linking service plans. The region is also revising the "20 Policies" initiative to optimize "Non-Face-to-Face Rigid Cash-out" and "One-stop Acceptance" models, and harnessing policy benefits to expedite business growth.

Looking ahead, Shinan aims to elevate its financial services capabilities and spur industry advancement through financial institutions and venture capital, fostering a flourishing and dynamic business environment.

An aerial view of Shinan. [Photo/WeChat account: qdweishinan]