Shinan district, Qingdao, East China's Shandong province, has released its development plans for the digital, marine, and green economy industries during the 14th Five-Year Plan period (2021-25), according to local media reports on July 28.

The plan's goals will be achieved by raising the industrial fund to 10 billion yuan ($1.53 billion), increasing R&D expenditures by an average of 10 percent annually, and increasing the proportion of high-tech industries to 60 percent of industrial firms with an annual business turnover of at least 20 million yuan by laying out high-level innovation platforms and taking the lead in developing the digital economy.  

During the 14th Five-year Plan period, Shinan will fully develop the new-emerging economy system represented by the digital economy and cultivate a new track for the influential technology industry. By 2025, the number of small and medium-sized enterprises in the area of science and technology will increase from 359 in 2020 to 800, and the scale of industrial guidance funds will reach 10 billion yuan. The cumulative share of high-tech industries in industries above designated size increased from 43.4 percent in 2020 to 60 percent. 

Shinan to build multiple types of open innovation platforms

In terms of building platforms for international science and technology cooperation, Shinan will continue to promote the construction of new platforms and promote the gathering of advanced technologies, high-end enterprises, innovative talent, overseas capital, and more in the district.

Layout of the new economy development track

In terms of the marine economy, Shinan will make use of cutting-edge technologies, accelerate the cultivation of service-oriented manufacturing, and focus on the development of marine geographic information, marine time internet of things and marine environmental engineering. The district will also foster and develop the green economy.

Shinan will also mobilize financial, land, and institutional factors to serve scientific and technological innovation.