The eastern coastal city of Qingdao, Shandong province [Photo provided to chinadaily.com.cn]

The eastern coastal city of Qingdao, Shandong province recently launched 10 supporting policies to boost the development of the Integrated Circuit Industrial Park, which is located in the China (Shandong) Pilot Free Trade Zone Qingdao Area.

The policies will support scientific and technological innovation, talent introduction and training, investment attraction, construction of industrial chain projects, development of related enterprises and other aspects of the city's development of the integrated circuit industry.

The Qingdao Integrated Circuit Industrial Park, the first of its kind in the city, has gathered a number of industrial leading projects and is striving to become an important integrated circuit industry cluster on the national level.

With a planning area spanning over 700 hectares, the park will focus on the development of integrated circuit manufacturing and equipment, closed testing, research and development, design and other fields. It is expected that by 2025, the park will have achieved an industrial scale of 35 billion yuan ($5.03 billion), and have more than 12,000 integrated circuit related employees.

Qingdao will incentivize enterprises and institutes in the park to increase investment in research and development. Enterprises with annual R&D investment of more than 5 million yuan will be given a special award of 30 percent of their actual R&D investment up to a maximum of 12 million yuan.

The city will also support collaborative innovation between leading enterprises in the park and universities and institutions, and strengthen the supply of generic technologies.

Preferential policies on housing, medical care and children's education will be provided to create an environment more attractive to high-level talents in the integrated circuit industry.