Zone aims to better use ocean resources

Qingdao's West Coast New Area will boost maritime innovation

Entrepreneurs in the coastal city of Qingdao, Shandong province, are contemplating a boost to their businesses after the launch of China's newest development zone, the Qingdao West Coast New Area. The zone will act as a base for offshore exploration and will promote innovation in China's maritime sector.

"We have signed agreements with a company in Hong Kong to sell three of our mobile offshore accommodation platforms at a price of around 100 million yuan ($16 million) each," Zhu Shengkai, deputy general manager of Qingdao Haixi Heavy-Duty Machinery, says at a shipyard on the western shore of the city.