In recent years, Qingdao West Coast New Area (Qingdao WCNA) in Qingdao, Shandong province has been focusing on promoting the high-quality development of its headquarters economy.

According to official data, over the past three years, a total of 23 enterprises have been recognized as city-level headquarters enterprises, 10 enterprises as provincial-level headquarters enterprises, and one enterprise as the regional headquarters enterprise of a multinational corporation in Shandong province, leading to the rapid development of the headquarters economy in Qingdao WCNA.

Statistics showed that from 2021 to 2023, Qingdao WCNA attracted a total of 623 projects, each with investment exceeding 100 million yuan ($13.82 million), including 52 headquarters projects with a total investment of approximately 53 billion yuan, all of which are in the advanced manufacturing or strategic emerging industries.

In the past three years, the 52 recognized headquarters enterprises in Qingdao WCNA have contributed 8 billion yuan in tax revenue. In the list of headquarters enterprises and institutions recognized by the Shandong Development and Reform Commission in 2023, Qingdao had seven selected enterprises, five of which were based in Qingdao WCNA.

The area has enhanced its ability to gather and allocate high-quality resources, propelling the headquarters economy into an effective engine for the area's high-quality development. In 2023, Qingdao WCNA became the first county-level region in the province and the twelfth in the country to surpass 500 billion yuan in GDP.

Qingdao WCNA in Qingdao, Shandong province focuses on promoting the high-quality development of its headquarters economy. [Photo by Zhang Jingang for chinadaily.com.cn]