Weichai is not the only market player that has obtained strong support from the zone. GoerTek's new projects include the smart city project, a photovoltaic industrial park and a smart factory for wearable products are also progressing as planned.

Construction of Shengrui Transmission's 300,000-unit annual capacity transmission production line and the second phase of its industrial park is also going well.

Shandong has unveiled its economic upgrade plans, which call for more focus on promoting development of 10 industries, including a highend equipment manufacturing industry and a new generation information technology industry.

The zone's industrial development will serve Shandong's efforts to upgrade its industrial base.

Weichai's new energy and new materials business, and GoerTek's new generation IT, as well as Weichai and Shengrui and Foton's high-end equipment manufacturing, have all established strong positions in their respective fields.

Companies in the zone realized significant business expansion last year.

Weichai reported more than 220 billion yuan in sales revenue in 2017, up 65 percent year-on-year. GoerTek reported 42.9 percent growth year-on-year in revenue, while Weifang Special Steel Group announced a 17.9 percent year-on- year increase in sales.

Foton, meanwhile, posted 14.4 percent year-on-year higher revenue in the high-tech zone, while Shengrui reported 14.1 percent year-on-year sales growth.

Apart from the big companies, small and medium-sized enterprises in the zone are also endeavoring to be future business leaders.

Huisheng Group has become a major force in developing insulation materials for voltage transformers in China. Power HF, a company specializing in diesel engines and manufacturing generators, plans to be listed on the main boards of China's stock markets.

Officials say the zone has consolidated its business registration processes and has integrated multiple certifications and licenses into one consolidated business license, making it easier for companies and individuals to apply.

In addition, the zone has further simplified its procedures for investments in six sectors, such as public schools and the upgrade of shanty towns.

Tailor-made recruitment policies are also available for companies to hire more highcaliber professionals. Weichai plans to recruit international technical experts and industrial leaders to build a team of 2,000 to 3,000 engineers.

Officials say that in the coming years, the zone will continue to promote reforms of its services, innovate its administrative model and push its economic upgrade forward.

Liu Jie and Zhou Jinjiang contributed to this story.