The first phase of the building work on China's largest information industrial park covering about 11 hectares of land space, has been completed in Qingdao, a coastal city in Shandong Province.

The project started in August 1998 by the locally-based Haier Group, a world-known household appliance maker. Haier has invested two billion yuan in the park due to be completed within three years.

Haier now can produce more than 100 varieties of information and household products in the Park, including mobile phones, computers, and advanced color TVs.

In 1999, Haier earned 26.8 billion yuan in domestic and overseas business including 21.2 billion yuan of sales, a 31 percent rise from 1998. Haier exported 138 million US dollars worth of products in 1999, double the 1998 figure. (Xinhua)