Qingdao FTZ sees foreign trade rise 5% in H1

A view of the China (Shandong) Pilot Free Trade Zone Qingdao Area. [Photo/WeChat ID: qingdaozimao]

The import and export volume of the China (Shandong) Pilot Free Trade Zone Qingdao Area, or Qingdao FTZ, rose by about 5 percent year-on-year to 91.25 billion yuan ($13.53 billion) in the first half of the year, accounting for about 22 percent of Qingdao city's total, according to official statistics.

From January to June, the area's actual use of foreign capital reached $650 million, accounting for about 20 percent of the city's total, and presenting a year-on-year increase of 21 percent.

During the first six months of the year, sales of above-quota wholesale and retail enterprises amounted to 213.12 billion yuan, accounting for about 21 percent of the city's total, and presenting a year-on-year increase of 39 percent.

In Qingdao FTZ, 3,010 new market entities have been established from January to June, presenting a year-on-year increase of 22 percent, which is 46 percent higher than the city-wide increase. The area attracted 13 investment projects from some of the world's top 500 companies and four of China's top 500 companies.

With a total investment of 53.7 billion yuan, 15 integrated circuit industry chain projects covering areas such as integrated circuit design, materials, equipment, packaging and testing were implemented, constructed, completed or put into production in Qingdao FTZ from January to June.