Qingdao, a coastal city in Shandong province, recently launched 90 key projects to bolster its marine economy, with a total planned investment of 203.11 billion yuan ($29.53 billion), among which 53 projects focus on high-end manufacturing with a planned investment of 98.91 billion yuan.

The coastal city of Qingdao, Shandong province [Photo/VCG]

The city has taken the real economy as the foundation of its core strength and has focused on fostering new growth drivers for the high-quality development of advanced manufacturing.

Of the 90 key projects, there are 22 large-scale projects in industries like marine equipment and new energy, with a planned investment of 152.04 billion yuan, accounting for 74.86 percent of the total amount.

The city's Qingdao West Coast New Area and Jimo district are home to a batch of offshore photovoltaic power generation projects led by enterprises like Jinneng Group, China Datang Corporation, PowerChina, as well as Beijing Energy International Holding Co Ltd.

"Qingdao pays close attention to the real economy and the construction of key projects," said Li Cong, the person responsible for the construction of marine projects at the Qingdao marine development bureau.

This year, the marine projects in the manufacturing sector will concentrate on such fields as shipbuilding, engineering, equipment, pharmaceuticals, as well as biological products and materials.

One example is Conson No 1, the world's first 100,000-metric-ton smart fish farming ship developed by Qingdao Conson Development (Group) Co. The vessel will be upgraded this year by building five 100,000-metric-ton smart fish farming ships, forming a standardized mechanism of shipbuilding and leading the innovative development of the aquaculture workboat industry.

For offshore equipment manufacturing, the Liuhua 11-1/4-1 oilfield secondary development project is under construction by the Qingdao branch of Offshore Oil Engineering Co Ltd. The Liuhua 11-1 offshore floating production, storage, and offloading facility is the first cylindrical FPSO in Asia, with an operating water depth of 324 meters, a maximum displacement of 100,000 tons, and a continuous operation at sea life of 15 years. 

The Heart of the Ocean and International Blue Bio-Valley Project is expected to be completed this year. Located in Qingdao Oceantec Valley, it centers on ocean-based pharmaceuticals, offering first-class services for the establishment and development of enterprises, as well as building the country's largest base for the research and development, testing, production, and sales of marine-related beauty products. 

"In the future, we will focus on big projects, take multiple measures to improve quality and efficiency in the construction of key marine projects, and add new momentum to the development of the real economy and the manufacturing industry," said Qi Yongzhan, deputy director of the Qingdao marine development bureau.