Weihai hi-tech zone shapes new growth drivers

Since the start of the year, the Weihai Torch Hi-tech Science Park – in Weihai city, in East China's Shandong province – has focused on cultivating a superior industrial ecosystem and driving significant improvements in the quality and growth of the industrial economy.

From January to June, the GDP of the park increased by 7 percent year-on-year, while the added value of industrial enterprises above a designated size – those with annual revenue of 20 million yuan ($2.8 million) or more – grew by 11.4 percent. Investment in industrial technological transformation rose by 16 percent year-on-year.

The park is concentrating on developing new quality productive forces by launching three special initiatives. These are in digital empowerment, the application of technological achievements and enhancing the value of small and medium-sized enterprises through quality standards and branding.

What's more, the park has added one new national-level single-product champion enterprise, 28 specialized and sophisticated enterprises and 43 innovative SMEs.

Currently, it hosts a total of 199 enterprises recognized as provincial or higher-level champions, so-called gazelle enterprises and specialized and sophisticated enterprises.

Guiding the aggregation of talent, capital, technology and other innovation elements within enterprises, it has been proactive. It has newly approved one provincial-level research center and 18 city-level centers, bringing the total to 31 provincial-level and 68 city-level R&D centers.

It is also focused on smart transformation and digitalization to improve production efficiency and to enhance the quality and scale of industries, leading the advancement of 99 key projects.

Information infrastructure continues to be upgraded, with 61 new 5G base stations installed since the start of the year, bringing the total to 950.

The Weihai Torch Hi-tech Science Park is leading the formulation of large-scale equipment renewal and the implementation of a trade-in plan, involving 14 units and 24 measures. Currently, 96 projects across various fields have been reserved, with a total investment of 12.41 billion yuan. (Edited by Yang Yingxue)

The modern structures are framed by the azure sky and majestic mountains. [Photo by Gaoxin/For chinadaily.com.cn]