The opening ceremony of Shinan's urban renewal and construction promotional projects in the first quarter of this year, was held at Qingdao Bay Square on Feb 2.

At the ceremony, the commencement of 10 key projects, including the first phase of Qingdao Bay Square and the reconstruction of Zhongshan Road, was officially announced. With a total investment of 2.45 billion yuan ($364.6 million), the projects boast a high added value and are expected to serve as strong engines for Shinan's development.

In 2023, a total of 22 urban renewal plans are expected to be launched, among which, there are five projects at the provincial level, 61 at the municipal level and 100 at the district level. At the same time, eight industrial parks are expected to receive a total of 30 billion yuan for construction.

Shinan is working hard on the preservation and upgrading of the old downtown area, which will be regulated with the same standards as 5A-level scenic spots. What's more, six action plans, consisting of 122 projects, are expected to be implemented to cultivate Shinan into a demonstration district of cultural tourism in Shandong province.

Furthermore, to make Shinan greener and more livable, Fushan Mountain and Taiping Mountain are to be developed, a total of 11 parking lots providing 2,800 more parking spaces are expected to be built, and 19 municipal roads will be upgraded.