The Qingdao Area of the China (Shandong) Pilot Free Trade Zone (Qingdao FTZ) has recently reported a milestone since its establishment in August 2019: 88 new investment projects from Fortune Global 500 companies have been added to take the total to 182.
Fortune Global 500 companies are characterized by high industrial integration, strong momentum, and significant impact, and add to Qingdao's reputation for high-level openness. [Photo/CFP]
The majority of these investments are in logistics, trade, freight, and warehousing, and are drawn by Qingdao's strategic position as a shipping hub and its robust industrial base.
Pioneering companies, such as Itochu Corporation, have utilized Qingdao FTZ's favorable policies and the Qingdao Port's expansive facilities to generate over $200 million in trade through international transshipments and imports.
The influx of investment underscores Qingdao FTZ's strategic importance in driving regional economic growth and its success in attracting global businesses. [Photo/CFP]
A view of Qingdao Port, bustling with ships and cargo. [Photo/CFP]
By May 2024, the total registered foreign investment capital in Qingdao FTZ had reached $27.71 billion – more than doubling its previous total. The years 2020 to 2022 marked a significant surge in foreign investment, averaging a 26.28 percent annual growth rate. By the end of 2023, the zone had utilized $2.55 billion in foreign investment, which is 70 percent of the total received over the past decade.
On Sept 23, Qingdao FTZ further strengthened its position as a key economic driver by hosting a concentrated signing event for key projects. The event secured 36 major projects with a total investment of 33.2 billion yuan ($4.66 billion), including five new investments from Fortune Global 500 companies.
Email: xhatg@qd.shandong.cn
Tel: 0532-86812345
Address: No 181 Xihai'an Road, Huangdao district
