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  • http://subsites.chinadaily.com.cn/shandong/qingdao/xihaian/2021-12/01/c_689779.htm

Why Qingdao West Coast New Area

chinadaily.com.cn| Updated: October 17, 2022

The Qingdao West Coast New Area (Qingdao WCNA) became the ninth State-level new area to be approved by the State Council on June 3, 2014.

Due to its solid industrial foundation and years of development, Qingdao WCNA is a leading area for high-quality development, a new highland for reform and opening-up, a new model for urban construction, and a new paradigm of livability and happiness.

Economic Strength

The economic indicators of Qingdao WCNA reached new highs in 2021. Its GDP increased by 10.3 percent year-on-year to 436.85 billion yuan ($60.76 billion), accounting for 30.9 percent of the city's total, making it the first in Qingdao to surpass the 400-billion-yuan mark. The figure also put Qingdao WCNA among the top three of the 19 State-level new areas, first among 137 counties and districts in Shandong province and fourth among the top 100 districts in China.

Pillar Industries

Qingdao WCNA is an advanced manufacturing base and emergent marine industrial cluster. It has cultivated major industrial clusters that include automobile manufacturing, home appliance and electronics, petrochemicals, marine engineering, machinery and equipment, and shipping logistics.

Rich Scientific and Technological Talent Reserve

Qingdao WCNA is approved as a national demonstration area for recruiting talent from overseas, a national intellectual property demonstration park and an experimental area for talent reform in Shandong province.

It harbors strong scientific and technological strength, abundant human resources, a complete industrial worker training system, a number of scientific research institutes, universities and vocational and technical schools, and a sound talent introduction and cultivation reserve system. Its "Phoenix Tree" policy brings talents from home and abroad to the area for innovation and entrepreneurship.

Advantage of Internationalized Opening-up

Qingdao was one of the first cities to open to the outside world in China and an important starting point of the Maritime Silk Road. It is also the bridgehead for Eurasian overland connections. Expanding from coast to inland, connecting north and south, and facing the Pacific Ocean, it enjoys a strategic locational advantage.

There are more than 30,000 enterprises of various kinds in Qingdao WCNA, including 1,788 foreign-invested enterprises and 285 projects invested by the world's top 500 enterprises.

Qingdao WCNA's enterprises have established 230 non-financial overseas investment projects in 48 countries and regions, with a total committed investment of $6.85 billion. Among them, 92 projects with a total investment of $2.23 billion are in countries involved in the Belt and Road Initiative.

Qingdao WCNA has an internationalized investment promotion service team and has accumulated rich experience in undertaking projects. There are international cooperation platforms such as the International Economic Cooperation Zone, Qingdao Economic and Technological Development Zone, China (Shandong) Pilot Free Trade Zone Qingdao Area, and Qingdao Qianwan Comprehensive Bonded Zone.

Function Layout and Industrial Investment Orientations

Qingdao WCNA has planned and built 10 functional zones. It attracts leading companies, assembles supporting facilities and prefers scale and cluster development, aiming at key industries such as new-generation information technology, high-end equipment, new energy and new materials, medical care and health, high-end chemicals, agriculture, cultural creativity, boutique tourism and modern finance.

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Administrative map of the Qingdao West Coast New Area. [Photo/xihaian.gov.cn]

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A bird's-eye view of the Qingdao West Coast New Area. [Photo/xihaian.gov.cn]