Qingdao efficiency: industrial internet project established in 120 hours in Qingdao Area of Shandong FTZ

From field visit to agreement signing, it took only 120 hours for an Industrial Internet project from Shanghai to be established in Qingdao Area of China (Shandong) Pilot Free Trade Zone, a new record of the area’s efficiency in project introduction.

In the afternoon of July 7, Zhao Shiyu, deputy secretary of Working Committee of Qingdao West Coast New Area, deputy secretary of Working Committee and deputy director of the Administrative Committee of Qingdao FTZ Area (Qianwan Bonded Port Area), secretary of Party Leadership Group and director general of Administrative Committee of Qingdao Sino-German Ecopark, led an investment promotion team to Shanghai and signed an investment cooperation agreement on the development of high-end smart manufacturing R&D and production base in the Qingdao Area. It was on July 2, five days before Zhao’s trip, that the project team just visited Qingdao to examine the investment environment here. Within a week, the two sides, after exchange of visits, have instantly sealed the deal.

The project is invested by a high-tech company specializing in the provision of frequency conversion and smart home appliance solutions, products and technological services. It is a major partner of Siemens, Bosch, Alibaba, JD, iFLYTEK, Haier and other renowned companies. According to the investor, the fast establishment of the project is based on satisfaction with the industry positioning and business environment of the Qingdao Area. The decision was made swiftly on the basis of the field visit, close negotiations and sufficient discussion.

The project is expected to start trial production by October and realize 20 million yuan of output by the end of December. It will achieve the goal of being established, reaching full capacity and getting included in statistics in the same year, creating a new record of business service efficiency of the Qingdao Area. It is learnt that this project, with a total investment of 50 million yuan, will have big screen AIOT production capacity of 1 million PCS with an annual output of about 100 million yuan.