This is the 12-year-old Qingdao Free Trade Zone. The development here, due to some reasons, was quite slow before 1999. It ranked at the end of its 15 Chinese counterparts. After renovations and adjustment in recent years, the Free Trade Zone is dynamic and its economic indexes ranked top in China. With the western move of the container terminal of Qingdao Habor, the Free Trade Zone enjoys better development. The accumulated imports and exports valued 2.53 billion US dollars. The Qingdao Free Trade Zone is actively promoting the Coordinated development of Port.

The development of Qianwan New Port provides perfect conditions for the rapid growth of west coast logistics. With the stationing of Maersk, Itochu and other hundreds of large logistics companies from home and abroad, the logistics districts including Qianwan International Logistics Area, the Daya Logistics Part are taking shape. West Coast is building to be the logistics center in North China. It is predicted that by year 2010, the added value of logistics industry will account for 20% of the west coast’s production value.

Industry is the most important issue for the development of west coast. Qingdao Economic and Technological Development Zone has planned industrial groups including household appliances, petro-chemical, auto, shipbuilding, steel and container industries.

Between January and April, the reportable enterprises in the development zone realized an industrial output value of 16.2 billion Yuan, increasing 33% compared to that of last year, and 4% higher compared to the city’s average increase. It realized an added value of 4.39 billion Yuan, increasing 25% compared to that of last year, and 17% higher to that of city’s average.

(Frankspeak)