Binzhou, a major industrial hub in Shandong province, successfully signed 54 projects during the Fifth Qingdao Multinationals Summit Binzhou Special Promotion event held in Qingdao, East China's Shandong province on Aug 28.

The Huanghe Tower in Binzhou, Shandong province, offers opportunities for sightseeing, exploring the Yellow River culture, and purchasing calligraphy and art. [Photo provided to chinadaily.com.cn]

These projects, with a total investment of 51.4 billion yuan ($7.2 billion), covered key development areas such as high-end equipment manufacturing, new materials, food and health, modern logistics, modern agriculture, and cultural tourism.

The event aimed to strengthen comprehensive cooperation between Binzhou and multinational corporations, fostering a favorable environment for the cultivation of new quality productive forces.

As a city with five 100-billion-yuan industrial clusters of high-end aluminum, fine chemicals, intelligent textile production, food processing, and livestock and aquaculture, Binzhou boasts a solid industrial foundation and strong capabilities. Looking ahead, Binzhou will focus on the layout of the industrial chain around new quality productive forces, promoting the upgrading of traditional industries, the scaling of emerging industries, the clustering of specialty industries, and the synergy of future industries.

Binzhou is currently a leading producer of wind turbine castings and structural components with a market share of wind turbine hubs ranking first in China.

The city is actively promoting the transformation of traditional energy and accelerating its switch to clean energy. Binzhou is also building two 100-billion-yuan industrial clusters for lithium-ion battery new materials and new energy equipment manufacturing.

Skyline of Binzhou set against a blue sky and clear water. [Photo provided to chinadaily.com.cn]