The Qingdao National High-tech Industrial Development Zone has beefed up efforts to attract high-quality projects in order to nurture new growth drives and invigorate economic and social growth.

Qingdao high-tech zone is integrating industrial development with modern technologies and boosting high-quality development. [Photo/qingdaonews.com]

Since the beginning of 2021, the high-tech zone has introduced 228 high-quality projects with a total investment of 32.86 billion yuan ($5.17 billion), including 38 projects funded by Fortune 500 companies and industrial leading enterprises.

The zone has made efforts to boost the development of leading industries - new-generation information technology, medicine and pharmaceuticals, artificial intelligence and high-end equipment manufacturing.

Measures have been made to promote the construction of innovation bases featuring "Four New Economy" (new technology, new business pattern, new development model, and new industry).

The "Four New Economy" has become the backbone of Qingdao high-tech zone's economic development. Qingdao high-tech zone has made efforts to nurture top "Four New" enterprises.

An industrial park in the Qingdao high-tech zone [Photo/qingdaonews.com]

According to official statistics, in 2021, Qingdao high-tech zone witnessed a 99.5 percent increase in investment related to "Four New Economy", with a 23.7 percent increase in business revenue. The "Four New Economy" has become a new engine supporting regional development.

The zone has also priority to administrative reform in order to streamline government functions, build an efficient service-oriented government and foster a sound business environment.