[Video provided for chinadaily.com.cn]
Established on Aug 30, 2019, the China (Shandong) Pilot Free Trade Zone Qingdao Area covers 52 square kilometers and is located in the Qingdao West Coast New Area – the only State-level new area in East China's Shandong province.
Integrating the advantages of having a comprehensive free trade zone, a national economic and technological development zone and an international economic cooperation zone within its jurisdiction area, the Qingdao Area has undertaken 106 national pilot tasks.
It has been designated as "an important pivotal city along the economic corridor of the New Eurasian Land Bridge" and "a strategic pivot for maritime cooperation" by the nation.
The Qingdao Area puts institutional innovation at the core and focuses on fostering an international, market-oriented and law-based business environment. This aims to tap its reform potential, address enterprise difficulties and unleash development vitality.
That's in a bid to become a vibrant destination for investment, entrepreneurship, realizing dreams and creating a future – with the prosperous development of industries such as the modern maritime industry, international trade, shipping and logistics, modern finance and advanced manufacturing.