Qingdao WCNA's paid-in foreign investment hits $1.45b in 2021

An aerial view of Qingdao West Coast New Area. [Photo/WeChat ID: qdxihaianfabu]

The paid-in foreign investment in Qingdao West Coast New Area (WCNA) amounted to $1.45 billion in 2021, which showed a strong growth trend and accounted for 6.7 percent of the total in Shandong province and one quarter of the total in Qingdao.

Statistics showed that in 2021, 209 foreign-invested enterprises registered in Qingdao WCNA throughout the year, with contracted foreign capital amounting to $4.33 billion.

In 2021, the modern services industry in Qingdao WCNA has become a new growth point for attracting foreign investment. The paid-in foreign investment in the industry reached $700 million, accounting for 70 percent of the total in the service sector.

Qingdao WCNA also opened up wider. While maintaining business with Hong Kong, Japan and South Korea, and ASEAN countries, Qingdao WCNA also expanded economic and trade exchanges with countries such as the Netherlands and Belgium.

In 2021, a batch of high-quality foreign investment projects from 19 countries and regions have been established in Qingdao WCNA. The area received investments of $1.39 billion from counties and regions such as Hong Kong, Japan, Singapore and South Korea, which accounted for 96 percent of the area's total, and also attracted new investments valued at $22.61 million from Thailand, the Netherlands and Belgium.