Jiaozhou on the outskirts of Qingdao, Shandong province, stepped up its efforts to attract more domestic investment in the first quarter. It has so far signed 23 deals with total contractual investments worth 12.59 billion yuan ($2 billion), jiaozhou.gov.cn reported.
Out of those deals, 19 projects required investments of more than 100 million yuan each, amounting to 12.41 billion yuan in total, 98.6 percent of the total value of deals.
Marine and hi-tech industries took up the biggest share, with 13 projects and 10.05 billion yuan to be invested.
Among those deals, two key projects, one e-commerce park and one aircraft maintenance park are expected to further boost Jiaozhou's industrial transformation and upgrading, consequently becoming a new growth engine for the city’s economy.
Beijing-based Jingdong Group operating e-commerce platform Jd.com will be the main investor in the 2-billion-yuan e-commerce park. The project is expected to turn Jiaozhou into a leading e-commerce base in China.
With a total investment of 1.5 billion yuan, the aircraft maintenance park by Taikoo (Shandong) Aircraft Engineering Company will be located in the Jiaozhou Economic Development Zone. It aims to provide airplane maintenance and cultivate professionals in aviation technology.
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