"In the 14th Five-Year Plan period (2021-25), Qingdao's determination to build the Global Venture Capital Center will remain unchanged," said Zhao Haozhi, mayor of Qingdao, during his keynote speech at the 2021 Qingdao Global Venture Capital Conference on May 7.

Zhao Haozhi, mayor of Qingdao, delivers a keynote speech at the 2021 Qingdao Global Venture Capital Conference on May 7. [Photo provided to chinadaily.com.cn]

"In order to support venture capital development, we will continue to introduce new favorable policies and improve our services. We will explore possibilities in funding a regional capital alliance and support the regulated, healthy, and high-quality development of the industry", he added.

He expressed hope that more start-ups and venture capital will embrace Qingdao's development opportunities and become its city development partners.

"Invest in Qingdao, and thrive in Qingdao. For both start-ups and investors, we offer a sea of opportunities," he said.

According to Zhao, Qingdao will build more platforms relying on the Qingdao Venture Capital Public Platform, the city's capital market service base, and the Qingdao Blue Ocean Equity Exchange. It will also organize regular, multi-level roadshow activities to promote ties between industry projects and capital.

The 2021 Qingdao Global Venture Capital Conference opens on May 7 in Qingdao, Shandong province. [Photo provided to chinadaily.com.cn]

As a core member of the Jiaodong Economic Circle, Qingdao is also working to promote the establishment of a regional capital alliance and create a sub-platform for a venture capital investment center to advance capital sharing and project sharing, added Zhao.

"Since the hosting of the first Global Venture Capital Conference in 2019, the development of venture capital in Qingdao has gathered momentum and shown huge potential for further development," he said.

Participants attend the conference. [Photo provided to chinadaily.com.cn]

"Qingdao's major tasks at present are to promote the real economy, push forward scientific and technological innovation, accelerate digital transformation, and implement city organic renewal. All these will create new opportunities for venture capital to grow and thrive in Qingdao," he added.

The conference released an updated version of the "10 Incentives of Qingdao for Venture Capital", displayed the 10-year achievements of the Qingdao Fund for Venture Capital Funds, and launched the Venture Capital Public Platform and Qingdao Innovation Investment Co Ltd.