Wednesday, April 12, 2000, updated at 14:13(GMT+8)
Business
Utilization of Foreign Capital in Qingdao Development Zone Exceeds 1.2 Billion US Dollars
Through 15 years of endeavor, Qingdao Technology Development Zone (QTDZ) has approved a total of 1126 foreign-funded projects with a total investment of US$3.027 billion and the actual amount of foreign capital utilization is up to US$1.226 billion.
Located on the western coast of the Jiaozhou Bay QTDZ is one of the zones concentrated with many such units opening to the outside world as the development zone at the national level, tariff-bond area, experimental area of high-tech industries and holiday-resort area, etc.
Due to profitable return for the foreign firms, 35 of them have increased investment for expansion construction since the establishment of this zone. Of the 500 biggest enterprises in the world, 12 have entered the zone for setting up 15 enterprises.
At present, QTDZ, with the development of eight pillar industries in the fields of electronics, biology, machinery, and chemical fibers, has primarily formed the biological medicine industry with Shansheng, Guoda, and Double Dragon Pharmaceutical industries as the backbone. In the electronic and household appliance industry, the Haier, Aukama, Shanmei and Panasonic play the role of a mainstay. While Gaohe and Zhongda perform a big role in the chemical fiber industry, the machinery industry is represented by Qingqi Motorcycle, automobile piston and Yizhong vehicles for farm use. With the Sun and Jinjing Glasses to act as pivots in the construction material industry, the new material industry finds Haier nano-material in its core. The output value, profits and foreign exchange earnings from these industries occupy over 70% of the economy of the whole development.
Through 15 years of endeavor, Qingdao Technology Development Zone (QTDZ) has approved a total of 1126 foreign-funded projects with a total investment of US$3.027 billion and the actual amount of foreign capital utilization is up to US$1.226 billion.
