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Dongying city appeals as growing investment, innovation hub

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chinadaily.com.cn| Updated: April 29, 2024

Nowadays, Dongying – located in East China's Shandong province – is a city really on the move, in the wake of the implementation of major regional integrated development strategies.

These are headed up by the Yellow River basin ecological conservation and high-quality development strategy and the strategy for construction of a leading area for green, low-carbon and high-quality development in Shandong province.

Indeed, the strategic position of Dongying is widely said to have become increasingly prominent, presenting it with unprecedented opportunities.

In the realm of technological innovation, Dongying has stepped up its construction of high-level innovation platforms. These include the National Rare Earth Catalysis Research Institute, the Carbon Neutrality Joint Research Institute of the National Key Laboratory for Heavy Oil, and the National Technical Innovation Center for Comprehensive Utilization of Saline-Alkali Land.

To meet its increasing human resources needs, the city has actively fostered a strong talent pool, ranking it 38th in China's top 100 cities in terms of talent attraction and 46th in the 100 most attractive cities for talent in China.

What's more, the city has made great strides in the financial sector. It is currently home to 35 banks, 45 insurance institutions, 18 securities firms, 64 local financial organizations, six registered fund management companies and 25 recorded funds products, with a funds scale of around 8.8 billion yuan ($1.2 billion) in the first nine months of 2023.

Education resources in Dongying have also seen significant improvements, with the establishment of the Shandong Institute of Petroleum and Chemical Technology as an applied undergraduate institution – and the recognition of several vocational schools as provincial demonstration and high-level vocational schools.

In the healthcare sector, Dongying has a total of 1,872 medical and health institutions – including 72 hospitals, 1,759 grassroots medical and health institutions and 34 specialized public health institutions. Statistical data is as of June 30, 2023.

That's helped the city to achieve some very notable health metrics, including an average life expectancy of 81.27 years. To top that off, it's been designated as a national and provincial pilot city for public hospital reform and a national health city, among other honors.

Dongying has become a fashionable hub for exhibitions, hosting national-level expos like the petroleum equipment exhibition and the rubber tire exhibition – providing a platform for domestic and international enterprises to engage in trade and cooperation.

In the field of sport, the city has also successfully organized the Yellow River Estuary (Dongying) Marathon, as well as the Yellow River Estuary (Dongying) Road Cycling Race.

It shines on the tourism front as well. With 68 A-level scenic spots – including one 5A-level and eight 4A-level spots – Dongying annually receives over 20 million visitors, showcasing its potential for tourism and consumer spending.

Overall, Dongying's multifaceted growth and development across various sectors is said by many to signal an extremely promising landscape for investment and innovation – making it a burgeoning center for economic and social advancements.

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