Qingdao FTZ receives multiple honors for high-quality development

Uploaded containers are seen at Qingdao Port in Shandong province on Jan 9, 2023. [Photo/VCG]

The China (Shandong) Pilot Free Trade Zone Qingdao Area (Qingdao FTZ), a thriving hub for economic innovation and international trade, was recently recognized as a top-performing zone in the 2023 China Assessment Report on High-quality Development.

The zone won the titles of "Top 10 Benchmark Parks on High-quality Development in 2023" and "Best Parks for Business on High-quality Development in 2023".

The report was released at the Third China Urban High-Quality Development and International Cooperation Conference in Shenzhen on July 22.

The conference invited over 800 entrepreneurs to evaluate urban development and discuss innovative ideas. The report used big data and market research to assess cities' high-quality development in areas such as innovation, ecology, coordination, cooperation, and livelihood.

Qingdao FTZ has in recent years made remarkable strides in attracting high-end industries, promoting institutional innovation, and optimizing services. The FTZ has also elevated its profile as a key player in the country's pursuit of high-quality development.

The zone has been committed to institutional innovation, having taken bold measures to streamline administrative procedures, facilitate investment, and create a favorable business environment. The implementation of forward-thinking policies has attracted both domestic and foreign enterprises, further stimulating economic vitality and fostering international cooperation.

The zone has also spared no effort in optimizing service quality. It has leveraged advanced technologies to improve efficiency in areas such as customs clearance, logistics, and financial services. These efforts have significantly reduced costs and time, smoothing the path for businesses to thrive within the zone.

Looking ahead, Qingdao FTZ will strive to create a first-class business environment. Focusing on five characteristic industries of modern marine industry, international trade, shipping logistics, modern finance, and advanced manufacturing, it will continue to drive economic transformation and strengthen independent innovation with the aim of becoming an internationally competitive free trade zone.