Shinan district in Qingdao, Shandong province, will prioritize the development of the real economy in the next five years, according to the district's CPC congress.

Emphasis will be placed on boosting the district's six pillar industries – sci-tech finance, the digital economy, high-end commerce, fashion and consumption, shipping and logistics, as well as culture and tourism.

The local government vowed to offer supporting policies to strengthen the innovation chain, expand the industrial chain, and enhance the value chain, with the goal of maximizing the vitality of innovation, industry and market.

At present, Shinan is home to 133 financial institutions, being one of the most concentrated financial clusters with richest business formats in Shandong province.

The Shinan-based Qingdao Capital Market Service Center is the first of its kind in Shandong and has nearly 100 member institutions. Since the beginning of this year, the center has held seven financing roadshow events, aiming to become a center for capital market exchange and financial talents that span across the whole Jiaodong Peninsula.

More efforts will also be made to accelerate the construction of a digitalized Shinan district, which is mainly comprised of digital governments, a digital society, a digital economy and a digital infrastructure. 

The district will also work to develop an international business circle for commerce and consumption in Fushan Bay, which currently has 13 commercial complexes.

In addition, Shinan, which has the most A-level logistics enterprises in Qingdao, is going to establish a whole-industrial-chain factor market led by shipping. The district will integrate shipping with science and technology, finance, and other service sectors to optimize its capability of logistics resource allocation.

Meanwhile, with a series of cultural brands being built in the district, involving music, performances, romance and coastal scenery, Shinan will spare no efforts to build a provincial-level culture and tourism consumption demonstration zone.