On the morning of February 14, 2023, Shandong held a site promotion meeting for the construction of major high-quality development projects, and Qingdao set up a sub-venue at the site of the project of Global Electric Appliance Production and Research Base in Shanghai Cooperation Organization (SCO) Demonstration Zone. The construction of 1000 major projects was started in a centralized manner, with a total investment of 1137.49 billion yuan and an annual planned investment of 400.6 billion yuan. There were 77 projects in Qingdao that have been included in the provincial centralized construction, with a total investment of 97 billion yuan and an annual planned investment of 30.9 billion yuan.
After the provincial conference, the on-site promotion meeting for the construction of major high-quality development projects in Qingdao was held successively, and 181 major projects (excluding 77 projects of the province) were started in a centralized manner, covering high-end equipment manufacturing, new generation information technology, medical and health care, infrastructure and livelihood protection, with a total investment of more than 180 billion yuan. Taking the project of Global Electric Appliance Production and Research Base of Nidec as an example, the total planned building area of the project is 750,000 m², with 240,000 m² as the first phase. It is expected that the main structure will be completely capped this year and completed in June next year. After the completion of the project, it will produce 10 million compressors, 10 million motors and 16 million control boards annually, and will build the world's most advanced DC motor compressor manufacturing and R&D base with the largest capacity in Asia. It is expected to achieve an annual output value of 6 billion yuan and create employment of 2000 people after reaching the production capacity.