Shandong Pilot Free Trade Zone Qingdao Area
The area was approved on August 26, 2019 with a planned area of 52 square kilometers. It consists of four national-level functional zones, namely, Qianwan Comprehensive Bonded Area, West Coast Comprehensive Bonded Area, Economic and Technological Development Zone, and International Economic Cooperation Zone (Sino-German Ecopark), thus enjoying the policy advantages of the four zones. Its development priorities include modern marine sector, international trade, shipping and logistics, modern finance, advanced manufacturing, etc. The area benchmarks itself against advanced international trade rules, carries out institutional innovation and deepens high-level institutional reform, accelerates integrated and innovative development of shipping, trade and finance, and bolsters emerging strategic industries such as smart manufacturing, integrated circuit and genetic technology. It aims to create an international shipping hub in Northeast Asia, an innovation powerhouse on China's east coast and a demonstration area for ocean economy development, so as to contribute to Qingdao's endeavour to build an important coastal central city in China.
