The commencement ceremony of four key projects with a total investment of 8.78 billion yuan ($1.38 billion) was held Dec 29 at the Peninsula International Talent Port in Jiaozhou, a county-level city in Qingdao, Shandong province.

Excavators are lined up for the commencement ceremony. [Photo provided to chinadaily.com.cn]

"These projects prove that the Peninsula International Talent Port, which is an important carrier for the integrated development of Jiaodong Economic Circle, has entered the fast track of construction," said Zhou Zhaohe, a local official.

According to Zhou, the Peninsula International Talent Port is an industry and talent integration project, which is designed to leverage the historical opportunities offered by the construction of the China-SCO demonstration zone and the operations of Jiaodong International Airport.

Consisting of a talent base, a talent innovation park, a talent entrepreneurship park, a talent park, and an industrial development cluster area, the Peninsula International Talent Port will build a comprehensive platform for international talent innovation and entrepreneurship on the Shandong Peninsula.

Display panels about projects at the Peninsula International Talent Port are seen at the commencement ceremony. [Photo provided to chinadaily.com.cn]

The talent park is a key part of the Peninsula International Talent Port. Located in the Dagu River eco-tourism resort, the park will span an area of 390,000 square meters and has a total investment of 580 million yuan. It will be built into the first talent themed park north of the Yangtze River.

The Harbin Institute of Technology Radio Energy Transmission Technology Innovation Park, which covers about 29.7 hectares, will receive 3.2 billion yuan in investments. When it is put into operation, the park is expected to reach an annual output value of about 3 billion yuan, with tax revenue of about 150 million yuan.

"The Innovation and entrepreneurship ecology of the Peninsula International Talent Port will contribute to the development of our project," said Yu Chuan, project representative of Harbin Institute of Technology Radio Energy Transmission Technology Innovation Park.