Global Fortune 500 companies target Qingdao

　　By Ju Chuanjiang(China Daily)　　

　　QINGDAO: Global Fortune 500 companies have shown an increasing interest in investing in Qingdao and according to the Qingdao Foreign Trade and Economy Bureau, by the end of July, 78 companies from the top 500 club had become involved in 150 projects in the city.

　　The total investment value of the projects, that are linked to electronics, communication equipment, chemicals, textile and clothes production, electric machinery, metalwork, food and beverages and the retail and social service industry has reached 25 billion yuan (US$3,13 billion).

　　"Qingdao has become an ideal base for foreign companies. We have an excellent investment environment, manpower resources and service system. More importantly, statistics show that 90 per cent of foreign companies have benefited from their investments after choosing Qingdao," said Xia Geng, mayor of the city.

　　Qingdao is the wealthiest city in Shandong province, which has the second-highest GDP of all of China's provinces. Despite its cosy position on the Yellow Sea along the outer edge of the Shandong Peninsula, Qingdao is lumped together with its neighbours on the other side of the peninsula as part of the Bohai Sea Rim economic zone, North China's answer to the Pearl River Delta (PRD) and the Yangtze River Delta (YRD) regions.

　　Of the Bohai Rim cities, it is the most accessible to international sea routes and is especially convenient to Japan and Korea, an advantage that has helped Qingdao's port in the Huangdao District compete with its rival in Tianjin.

　　Thanks to its role as the transportation hinge and leader of economy in the province, Qingdao is able to provide a big market and business partners to foreign companies.

　　To highlight the importance of the city, a Forum on Mutual Development from World Top 500 and Other Businesses was held in May.

　　World giants like GM, Toyota, Volkswagen, GE, Dell, Intel, IBM, Motorola and Dupont, which cover fields such as finance, motoring, communication, energy, medicine chemical engineering, retail and services, came together and exchanged ideas with local companies.

　　To better service the foreign companies, the Qingdao Economic and Technical Development Zone was set up and has become a centralized foreign investment zone.

　　At present, there are 339 projects with individual investments above US$10 million, 13 of which exceeded US$100 million. Among them, there are 56 projects invested by Global Fortune 500 companies.

　　Big investment also helps lure more foreign companies to produce supporting facilities. Dozens of famous chemical engineering companies from the US, Japan, South Korea and Taiwan have increased their efforts to become involved in the city.

　　For example, US technology giant Lucent has increased its investments to more than US$80 million since it started its first project in Qingdao.

　　Foreign investment also offers more chances for local companies and produces new jobs for the people of Qingdao.

　　At least 1,500 local companies have been set up in a bid to produce supporting facilities, creating more than 50,000 jobs.

　　In addition, Qingdao harbour boasts scores of international liners and has an increased cargo capacity of 30 per cent, reaching 180 million tons last year with 6.3 million containers.

　　In the first half of this year, cargo capacity reached 109,85 million tons.

　　Cool Britain rule waves on day 9; China's Fang stays top in RS:X M

　　By Xie Chuanjiao(China Daily)　　

　　QINGDAO: British sailors have taken the lead in five events at the 2006 Qingdao International Sailing Regatta after nine days of racing.

　　Ben Ainslie was definitely the brightest star, sitting a huge 20 points ahead of second in the Finn class.

　　"It was different today, remarkably different from all the other days. The wind was 15 to 20 knots with big waves. It was really good sailing and really good fun," said Ainslie.

　　"It is better for me in light winds because of my weight. Today I was very pleased because I didn't think I would have done so well in those conditions.

　　"I've got a quite big lead now. It'll be nice just to watch others racing around and see what happens. Hopefully I'll stay out of trouble."

　　Along with Ainslie, British sailors are also at the top of Laser, Men's 470, Star and 49er.

　　France's commanding lead was cut when Emmanuel Dyen and Yann Rocherieux lost their first place to Britain's Chris Draper and Simon Hiscocks during race ten on Monday in 49er. However, the French still continue to lead in Tornado, RS:X W and 470 W.

　　France's Athens Olympic champion Faustine Merret topped RX:S W, her team-mates Ingrid Petitjean and Nadege Dourous kept ahead in 470 W while in Tornado Xavier Revil and Christophe Espagnon, Olivier Bakes and Paul Ambroise Sevestre took the first two places.

　　"I'm not satisfied with today's race. We could have done it better. But for the races in the week overall so far I am pleased, and hoping to win in tomorrow's medal race," said Petitiean.

　　USA's Paige Railey was another star as she secured an overall 20-point lead in Laser Radial.

　　"I am very excited, and just want to go out and celebrate. Tomorrow I will rest and go shopping for my mum and sister," Railey said.

　　In Laser Radial, China's Shen Xiaoying and Xu Lijia took ninth and tenth places after Monday's round 10 racing.

　　"Probably in the medal race the rankings will not change much at all, but competing in the medal race will be very good practice for 2008," said Xu, the reigning world champion.

　　In RS:X M China's Fang Zhennan secured his first place after round 10 yesterday with Poland Lukasz Grodzicki moving into second. China's Wang Aichen and He Feng stayed third and fourth. Wang is only three points behind Grodzicki.

　　In RS:X W China's Athens's silver medallist Yin Jian dropped from second place to fourth. However another Chinese sailor Sun Limei moved to second ahead of Poland's Malgorzata Bialecka.

　　China's three Ynglingers Song Xiaqun, Li Xiaoni and Zhang Chuanshuang were third behind Dutch and British sailors.

　　"We did well during the first round today, but not the second. I am going to further study the rules of tomorrow's medal race and enter the competition in calm spirits," said Song.

　　Tomorrow, the medal races will star the top ten boats.

　　"The points will be doubled so there is a possibility of someone in third or fourth place coming through and winning the race. It is a very exciting format because of the double points," said David Kellett, ISAF vice-president.

　　"Since there's only ten boats out there racing, sailors will change tactics and try everything to improve their position," he added.

　　Crowds flock to see top sailing event

　　By Jiao Jiao(China Daily)　　

　　QINGDAO: Families, couples and friends are packing their cameras, telescopes and sun-umbrellas to watch Qingdao's much-anticipated sailing competition.

　　This is the latest fashion in this picturesque city in East China's Shandong Province.

　　"I am so excited that I have taken so many pictures of lovely sailboats with handsome sailors. It is my lucky day," Li Jing, a tourist from Beijing told China Daily yesterday, at the breakwater, also called spectators' corridor.

　　The ninth day passed successfully, just one day ahead of the most exciting medal race day of the 2006 Qingdao International Sailing Regatta, also known as the first test event for the 2008 Beijing Olympics.

　　The breakwater, outside but adjacent to Qingdao International Sailing Centre, is specially designed to provide spectators with good views of the sailing.

　　Since the event kicked off last Monday, it has attracted thousands of enthusiastic viewers each day attempting to catch a glimpse of some international sailing stars.

　　"I think it is a wonderful innovation to have the breakwater as a viewing platform for the public. It is a great thing that all the people in Qingdao can walk out there and watch the sailors and learn from them. It is very considerate of the sailing committee in Qingdao to achieve that," David Kellett, vice-chairman of the International Sailing Federation, told China Daily earlier.

　　"The breakwater platform is capable of holding 3,000 people at one time, and I figure that last Sunday alone there were more than 10,000 tourists from home and abroad that came and watched the competition from here," Li Fengli, vice secretary-general of the regatta organizing committee, told China Daily yesterday.

　　"Many Qingdao locals were swarming into the breakwater, searching for their luck," said Wang Jian, a volunteer college student distributing postcards..

　　"The other day I was pulled aside by an old gentleman asking me where the best angle to wait for returning competitors was. We continued to discuss sailing competition rules," said Wang, "As I talked to him in detail all the people nearby came over, listened and took part in the discussion."

　　"We have tried our best to build the centre and hold this event with people-oriented principles, with many of the venue's plans taking common people's interests into account," said Li Fengli.

　　Covering an area of 30 hectares, the sailing centre has been converted from a polluted deserted dockyard.

　　"The relocation of the dockyard is a big bonus for citizens, because we have restored this part of sea scenery for them, including the locally famous scenic spot Autumn Tide at Yan'erdao Island nearby," Li said, "We even built a tunnel to protect the original forestation of the Yan'erdao Hill, instead of digging the road across the grassland."

　　"The corridor makes it a reality for spectators to make intimate contact with the sailing event, and it is also the first international sailing competition that has allowed people to watch the games so close," the official told China Daily.

　　Qingdao's hosting of international sailing competitions is drawing more Chinese into the charm of the sport.

　　Some have started sailing themselves, calling the sport attractive. "With waves surging and wind brushing by, it is a great lifestyle," 33-year-old Li Xiaowei, told China Daily, who started sailing last June.

　　Sources also say that the city of Qingdao is popularizing sailing culture in all of its primary and middle schools. It is estimated that one tenth of middle school students will be engaged in sailing in the coming five years.

　　"I am fascinated with interviewing the star sailors from around the world. It's been a great chance for Qingdao, and for me too," said Li Yuqi, a reporter with a local magazine called Qingdao Sports.

　　"Qingdao has made a great difference since 2001 in many aspects. Still not many people have ever really sailed a boat here, but the city as a whole is improving and changing," she said.