New economic enterprises thrive in Qingdao WCNA

A list of new economic enterprises that are of high potential in 2022 was released by the development and reform commission of Qingdao in February, and Qingdao West Coast New Area (Qingdao WCNA) boasts the largest number of such enterprises.

Initiated in November 2022, the list evaluated enterprises in terms of sector, size, growth speed, profit and investment, and selected 122 new economic enterprises out of more than 500 Qingdao enterprises.

Among the 122 enterprises, there are 29 located in Qingdao WCNA, and they are mainly in such industries as high-end chemical new materials, smart home electrical appliances and new displays and integrated circuits.

Qingdao WCNA continues to cultivate new economic enterprises, which serve as important drivers for the high-quality development of the area, and fruitful results have been yielded. In 2022, the output of enterprises producing high-end chemical new materials and smart home electrical appliances reached 150 billion yuan ($21.78 billion) and 100 billion yuan, respectively, and new information technology enterprises enjoyed a year-on-year increase of 40 percent in revenue.

An aerial view of Qingdao West Coast New area. [Photo/WeChat account: qdxihaianfabu]