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WCNA breaks ground on multibillion-dollar projects| Updated: November 30, 2023

The Qingdao West Coast New Area (Qingdao WCNA) started the construction of 88 major projects on Nov 25. The total investment for these projects amounts to 31.3 billion yuan ($4.39 billion).

These projects span diverse sectors including advanced manufacturing, high-end chemicals, marine economy, culture and tourism.

To enhance the performance of IoT and automotive chip storage, the storage chip manufacturing project by Truth Memory Corporation is a standout.

With a total investment of 3 billion yuan, this project specifically focuses on the research and development of magnetic storage chips. Its main goal is to support the domestic storage chip industry and make a significant contribution to the overall development of the Qingdao WCNA.

Since the beginning of this year, the Qingdao WCNA has attracted 185 projects – each backed by an investment of more than 100 million yuan – that have a combined investment of 217.9 billion yuan.


Aerial view of West Coast New Area in Qingdao, the coastal city in East China's Shandong province. [Photo/WeChat account: qdxihaianfabu]