Shinan sets goals for economic development in 2020

Shinan district, Qingdao set goals for major construction projects, promoting investment and urban development for 2020 during a conference held on March 24.

The district will carry out 92 major construction projects worth around 105.1 billion yuan ($14.86 billion) in total and facilitate the construction of infrastructure based on modern technology.

A fund for the modern marine industry and an association involving shipping and trade will be established as well. The added value of the district's marine industry is expected to increase by 15 percent and investment in marine fixed assets is expected to increase by 50 percent this year with the help of a high-tech industrial cluster and big data platform.

The district also hopes to develop cooperative relations with over 10 intermediaries, establish 20 platforms for promoting investment and attracting talents, and set up 28 new company headquarters in 2020.

Several construction projects costing over 1 billion yuan each are currently underway in Shinan, and more such projects are expected to be introduced this year. The local government also plans to pay closer attention to the development of key enterprises.

Taking advantage of the city's preferential policies, the district is encouraging cross-border e-commerce enterprises to expand their markets by establishing overseas warehouses and experiential stores. The total value of imports and exports in the district in 2020 is expected to reach 74.2 billion yuan – a year-on-year increase of 15 percent.

In addition, Shinan will develop a new operational model to integrate convention centers and hotel clusters with the help of the Qingdao International Convention Center and surrounding high-end hotels. Around 20 domestic and international conferences and forums are planned to be held in the district.

Also, in order to help develop an international fashion city and boost the nighttime economy, the district will work to attract 20 famous fashion brands and develop a series of distinct commercial clusters. It will also work to improve its fashion industry, introduce talents, and host multiple innovative activities.

Lastly, the reconstruction of the western old quarter will be pushed forward. A variety of operational models will be used according to the situation in different areas. Designs combining traditional and modern strengths are expected to highlight the city's uniqueness.