New hub already a success as companies grasp opportunities

The Qingdao West Coast New Area is willing to build a shared platform open to all participating countries and regions in East Asia with better connectivity and interaction to promote mutual prosperity in the marine sector, a local official said recently.

"The major tasks of the platform include the marine economy, technology, environmental protection, disaster prevention and relief, talent development and culture, and promoting practical cooperation at multiple levels," said Wang Jianxiang, Party chief of the new area during the recent Huangdao forum in Qingdao.

Qingdao is one of the few cities in China that is both a significant port city along the Maritime Silk Road and a key node city on the Silk Road Economic Belt connecting inland cities and West Asian countries.

As well, Qingdao West Coast New Area, or Huangdao - a district governed by the city of Qingdao, is an ideal place to accommodate the platform and become a hub for relevant countries to communicate and cooperate with each other, said Wang, who is also a member of the standing committee of the CPC Qingdao.

The new area was approved by the State Council, China's cabinet, in June 2014 as the ninth national-level new area in China's "new district strategy".

Wang said the new area has taken on an aspiring but also arduous task to build in 10 years an economy the size of the overall Qingdao economy in 2014, when the area was founded.

Wang said a permanent venue at Expo City, a massive project covering 123.3 hectares with function centers, exposition halls and conference venues, will be constructed for the Huangdao Forum of East Asia Marine Cooperation Platform. "The platform will greatly lend a soaring wing for the new area to grow fast and help the world recognize this rising new area," Wang said.

Located on the west coast of Jiaozhou Bay, the area covers 2,096 square kilometers of land, and 5,000 sq km of sea. It has 282 km of coastline and administers 1,221 villages with a total population of 1.8 million.

Last year, the area's GDP was 260 billion yuan ($39.68 billion), up 12 percent year-on-year. It also attracted $1.74 billion in foreign investment. Its imports and exports were valued at $21.6 billion. Its marine GDP reached 71.4 billion yuan last year, an increase of 19.5 percent year-on-year. It is home to 296 key marine sector enterprises, including the China National Offshore Oil Corporation, Qingdao Pacific Container Co Ltd and Bright Moon Seaweed Group.

Hu Qing

(China Daily 08/02/2016 page12)