Economic zone ready for takeoff

The West Coast Economic New Zone in Qingdao, Shandong province, will achieve a GDP of 500 billion yuan ($79.3 billion) by the end of the 12th Five-Year-Plan period (2011-2015), accounting for around 76 percent of the GDP of the whole city in 2011, according to the local government.

By 2015, the urbanization level will reach 80 percent, and the zone's population will grow to 2 million. At that time, regional tax and fee revenue is expected to top 30 billion yuan.

In 2011, the new zone achieved a GDP of 182.3 billion yuan. Local tax and fee revenue was 10.2 billion yuan, according to data from the local government.