The Qingdao West Coast New Area (Qingdao WCNA) started the construction of 88 major projects on Nov 25. The total investment for these projects amounts to 31.3 billion yuan ($4.39 billion).

These projects span diverse sectors including advanced manufacturing, high-end chemicals, marine economy, culture and tourism.

To enhance the performance of IoT and automotive chip storage, the storage chip manufacturing project by Truth Memory Corporation is a standout.

With a total investment of 3 billion yuan, this project specifically focuses on the research and development of magnetic storage chips. Its main goal is to support the domestic storage chip industry and make a significant contribution to the overall development of the Qingdao WCNA.

Since the beginning of this year, the Qingdao WCNA has attracted 185 projects – each backed by an investment of more than 100 million yuan – that have a combined investment of 217.9 billion yuan.

Aerial view of West Coast New Area in Qingdao, the coastal city in East China's Shandong province. [Photo/WeChat account: qdxihaianfabu]