Qingdao joins top-tier national free trade zones

Since its approval, the Qingdao Area of the China (Shandong) Pilot Free Trade Zone, Qingdao FTZ, has initiated numerous reforms, attracted leading industrial projects, and implemented practical measures to support businesses and attract talent, continuously enhancing its role as a model of institutional openness.

The Qingdao Area of the China (Shandong) Pilot Free Trade Zone. [Photo by Miao Hongtian/for chinadaily.com.cn]

High-Efficiency Innovation with Greater Drive

By aligning with high-standard international trade rules like RCEP and CPTPP, the zone has expanded institutional openness and created mechanisms such as “Zone-Customs-Port” and “Zone-Tax-Bank.”

This has led to over 300 innovative measures, with 79 nationally and provincially recognized. Since its approval, operating market entities have increased to 35,200, which is 3.13 times that before approval; tax-paying entities to 31,000 (2.83 times more), with an annual public budget revenue growth of 44 percent and a tax ratio of 95 percent, the highest in the city.

High-Level Openness with Greater Appeal

Leveraging its proximity to Japan and South Korea and strategic location, Qingdao FTZ has established platforms to help businesses go global and compete internationally. Since its approval, the zone has attracted 72 new projects from the world's top 500 companies (totaling 171), over 400 foreign experts, and 2,000 international talents. It has increased employment by 127,000 with a net gain of 106,000 insured.

High-Level Industries with Greater Competitiveness

Coordinating the development of five key industries—modern ocean, international trade, modern finance, shipping logistics, and advanced manufacturing—the Qingdao FTZ has seen a 21 percent annual growth in foreign trade, increasing its city share from 16 percent to 23 percent. Foreign capital usage grew by 22 percent, raising its share from 4.1 percent to 9.7 percent, and wholesale sales grew by 41 percent, boosting its share from 18 percent to 26 percent.

High-Quality Development with Greater Influence

The Qingdao Free Trade Zone and the Sino-German Ecopark have garnered over 20 prestigious domestic and international accolades, including “China's Top Ten Most Investment-Valued Park” and the “Global Sustainable City and Human Settlements Award.” Recognized by the Ministry of Commerce Research Institute, the Qingdao Free Trade Zone has now risen to the top tier of national free trade pilot zones.