Laoshan punches above its economic weight

Laoshan in Qingdao, Shandong province, recently released economic statistics that show the district is becoming a demonstration area of a modern socialist international metropolis in the new era.

In the first half of this year, the district's GDP grew by 5.2 percent year-on-year to 51.6 billion yuan ($7.4 billion). Fixed-asset investment increased by 23.1 percent and the added value of industries above designated size increased by 14.8 percent, all ranking first in the city.

This year, Laoshan has taken key projects as an important tool to stabilize investment and realize steady growth. Each leader of the district government has introduced at least one large project to the area. Laoshan has also made efforts to create a business environment featuring streamlined administrative approval procedures, favorable investment policies and outstanding services.

For example, it carried out reform to optimize the process of housing construction and urban infrastructure projects, from approval to completion and examination.

From January to June, Laoshan introduced 53 projects each with an investment of over 100 million yuan. It included 15 projects each with an investment of 3 billion yuan.

Another focus of the district this year is urban renewal, as part of its efforts to promote high-quality development. As of June, 182 of the 194 key urban renewal projects in Laoshan have been under construction, including the renovation of 28 old residential areas and the establishment of nine city parks, with a total investment of about 11.7 billion yuan.

Two key renewal projects are in the nearby areas of Zhangcun River and Zhuzhou Road. Inefficient land redevelopment and industrial transformation and upgrading will be highlighted on both sides of Zhuzhou Road. The area will become home to three industrial parks of artificial intelligence, virtual reality and new generation information technology.

As for the Zhangcun River area, an international community is planned that provides innovative, high-end and diversified services.

Considering the real economy a foundation of the modern economic system, Laoshan has boosted its high-quality development in several aspects, ranging from human resources and entrepreneurship, to industrial chains and professional industrial parks.

Currently, Laoshan is home to more than 10 research institutions, like Qingdao Research Institute of Beihang University, and has attracted more than 110 enterprises. The annual value of the district's virtual reality industry exceeds 5 billion yuan.

The first phase of Qingdao Microelectronics Industrial Park, for instance, was officially put into use in June. When the second phase of the project is completed, the park is to produce 2 billion intelligent sensors annually and generate an output value of 20 billion yuan.

It will become one of the country's largest areas in the intelligent sensor industry, officials forecast.

This year, Laoshan has implemented China's rural revitalization strategy by tapping cultural resources and natural advantages in a bid to explore new ways of developing rural industries, and consolidating and expanding the achievements of poverty alleviation.

Dashi village is a new attempt in Laoshan to revitalize rural culture via literature and art.