Laoshan district in Qingdao [Photo/IC]

Adhering to the concept of innovative development, Laoshan district in Qingdao, East China's Shandong province, held the signing ceremony for three megaprojects on April 7. The projects are expected to serve as a driving force for the vitalization of the real economy and help Laoshan build a demonstration area for a "socialist modern international metropolis in the new era".

High-end beer base

One of those projects is the high-end beer production base of Tsingtao Brewery Group, a time-honored brand in Qingdao, which will have an annual output of 1 million kiloliters. Designed as a world-class production and cultural tourism experience base integrating beer, whiskey production, and fashion bars, the project will start construction in August. It will be completed by the end of 2024.

The project not only sends a positive signal of steady growth in the economy, but also explores the path for the transformation and upgrading of the food and beverage industry, as well as boosts the high-quality development of the city’s advanced manufacturing. The advantageous industries represented by beer have demonstrated their pivotal role as a booster to the nighttime economy, fashion consumption, and other business formats. 

Booming biomedicine industry

Laoshan is also bolstering the new-generation information technology, modern finance, cultural tourism, as well as medical and healthcare industries.

During the event, Beijing Bio-Bank Corporation, a national high-tech enterprise focusing on the research and development of biological pharmaceuticals and vaccines, signed a cooperation agreement with Laoshan to launch its headquarters base for the R&D, production, and sales of new drugs.

"Laoshan has superior natural endowments, talented people, a solid foundation for strategic emerging industries, complete supporting facilities, and comprehensive services. It has a competitive policy system for talents and offers multi-channel services. This is why we decided to move our headquarters to Laoshan," said an executive in charge of Bio-Bank.

Laoshan is home to more than 70 biomedical companies, including 14 companies above designated size, two listed companies, Huaren Pharmaceutical and NovelBeam, as well as one provincial gazelle company, Raisecare.

Urban renewal

Laoshan has developed a plan to launch 196 urban renewal projects, with a total investment of 100.6 billion yuan ($14.6 billion), in the coming years. This year, the planned investment is about 15.6 billion yuan.

During the event, Laoshan signed a cooperation agreement with CR Land to accelerate the construction of an open, innovative, business-friendly, and pleasant urban environment.

The two parties will give full play to the advantages of policies, resources, and industries to achieve mutually beneficial results, speeding up the city's sustainable development in the long run.

Laoshan is spurring urban renewal in an all-round way. The first phase of the virtual reality complete machine and optical module plant, the largest project in terms of investment in Qingdao Virtual Reality Industrial Park, was completed six months ahead of schedule. Two projects, the Smart Home Customized Advanced R&D Center and the Smart Washing Ecological Innovation Center, were completed and put into production. The number of newly started projects in Laoshan ranks first in Qingdao.

The district is also relocating five urban village communities and constructing supporting public facilities, such as schools and hospitals. This year, Laoshan plans to renovate 64 old residential areas and has started construction in the first quarter.