Home> Business

Qingdao economic zone appealing to investors from private sector

( chinadaily.com.cn )

Updated: 2014-08-04

  Print Mail Large Medium  Small 0
Qingdao economic zone appealing to investors from private sector

The Dongjiakou Economic Zone of Eastern China’s Qingdao city, aiming to become a national demonstrative zone of the circular economy, has stepped up its efforts to attract private investments since the beginning of the year.

By the end of May, three deals had been signed, securing investments of 4.3 billion yuan ($696.6 million), and construction on another three projects with planned investments totaling 11.29 billion yuan had kicked off. Talks are continuing for three further projects for which 20.05 billion yuan is being sought.

Relying on its advantages in logistics and trade, the economic zone’s four industrial parks – steel and metallurgy, new materials, port logistics and equipment manufacturing – have taken active measures to attract investments from the private sector.

Construction has started on the 10.17-billion-yuan Northern Aquatic Products Trading Center and Cold Chain Logistics Base and the 1-billion-yuan Gongkou Shipyard. An LNG supply station project has been introduced, and upon completion it will be able to supply natural gas to enterprises in the zone as well as providing LNG cold energy for the cold chain logistics base.

Additionally, a deal was sealed with the Beijing Origin Water Technology Company on a 4.2-billion-yuan membrane water treatment R&D center and a seawater desalination project. Talks on two other major deals – a 10.5-billion-yuan crude storage project and a 550-million-yuan lattice steel plate project are underway.

The economic zone has taken advantage of enterprises it already hosts to attract yet more investment. For example, a project on the comprehensive use of vanadium titanium resources, still in talks with the Beijing Shenwu Environment & Energy Technology Co, is likely to cut 95 percent of Qingdao Iron and Steel Group’s exhaust emissions and reduce its energy consumption to a large extent.