The Jinjialing Financial City of Qingdao is promoted in Shanghai on July 18. [Photo provided to chinadaily.com.cn]

The Shanghai Investment Promotion Conference for the Jinjialing Financial City in Qingdao's Laoshan district was held in Shanghai on July 18.

The conference was aimed at enhancing communication and collaboration between the financial industries of Qingdao and Shanghai. It attracted over 100 participants, including business representatives from Taiwan, key financial institutions, leading fintech companies, and high-end service industries in Shanghai.

Eight companies signed agreements to set up operations in Jinjialing Financial City during the conference, and six city cooperation contracts were signed with Laoshan district, which is also the financial district of Qingdao.

Five delegates give thumbs-up for the signing of the cooperation projects. [Photo provided to chinadaily.com.cn]

Chen Wansheng, deputy secretary-general of the Qingdao municipal government, emphasized that the primary purpose of the promotion conference was for Qingdao and Shanghai to explore new avenues of cooperation.

Qingdao not only sees Shanghai as an international financial center to learn from but has also been actively engaging in collaboration with Shanghai. The partnership between Lujiazui in Shanghai and Jinjialing in Qingdao serves as a successful example of cooperation between the two cities, Chen added.

During the conference, a representative of the Jinjialing Financial City introduced policies geared toward supporting the financial industry.

In recent years, Jinjialing has focused on developing venture capital investment and digital finance.

Jinjialing welcomed 146 newly registered financial projects in the first half of this year. Among them, 30 projects received an investment of over 100 million yuan ($13.94 million), and seven projects received an investment of over 1 billion yuan.