Shibei district, Qingdao has received eight key marine-related projects worth 9.22 billion yuan ($1.35 billion) since the beginning of the year, according to the district's development and reform bureau.

The projects, which involve marine education, marine tourism, the offshore oil and gas industry, ocean finance, transportation, and more, are vital to the district's goal of becoming an international hub for shipping, trade, and finance, local officials said.

Shibei district, Qingdao aims to become an international hub for shipping, trade, and finance. [Photo provided to chinadaily.com.cn]

One project is a marine equipment company invested by Ocean Dragon Marine Automation (HK) Co, which has registered in Qingdao and purchased nearly 50 million yuan in shipping training equipment to form a talent pool for ship automation.

One project, being carried out by Shanghai Maritime University, is expected to register in the city at the end of September. It plans to establish a graduate school, a supply chain research institute, and a research center in Qingdao.

Another project is a cruise tourism company invested by Shandong Port Group, which registered in January 2020. It involves cruise operations, management and supporting services, and the development and construction of cruise terminals.

Yet another project is a marine industry development center, which registered in January 2020. It mainly engages in the design, research and development, manufacture, sale, and technical services for offshore oil drilling and production equipment, marine engineering special equipment, and industrial robots.

Also worthy of note is a commercial factoring company invested by the Shandong Port Group, which will engage in shipping, port factoring and non-financing guarantees.