A commencement ceremony for the construction of the Qingdao foreign-related legal service center was held at No 80 Middle Xianggang Road in Shinan district, Qingdao on June 23.

The center will receive a total investment of nearly 5.1 billion yuan ($761.94 million).

It will construct six core carriers: a center for the Belt and Road International Lawyers Association in Qingdao, a center for the China-Shanghai Cooperation Organization Legal Service Commission, a cluster for foreign-related legal services, a longer chain of foreign-related service providers that will include financial, taxation, and accounting institutions, a hub for maritime commerce chambers and associations, and an international arbitration center in Qingdao.

Officials said that the center will not only create a high-standard office space for legal professionals, but also offer a slew of supporting services, such as introducing Michelin restaurants and artistic events, and building high-end ocean-view apartments.

Shinan district has the highest density of legal service institutions in Qingdao, and a significant advantage in maritime affairs and maritime business.

The combined operating revenue of the district's 116 law firms accounts for 58 percent of Qingdao's total, and the number of law firms with over 50 million yuan in revenue accounts for 83 percent of the city's total.

A rendering of the Qingdao foreign-related legal service center. [Photo/WeChat account: qdweishinan]