The 2024 Beijing Promotion Conference On The Business Environment of Qingdao West Coast New Area (QWCNA) was held at the Beijing Zhongguancun (ZGC) International Innovation Center on October 15 where 31 projects with a total investment of 45 billion yuan were signed to settle in the QWCNA.

The Business Environment Promotion Conference, themed "Fostering New Quality Productive Forces, Sharing a New Future for Development," attracted over 300 guests nationwide, including representatives from more than 200 corporate organizations, over 100 investment institutions, and 15 industry associations. The management of the QWCNA showcased the area's strategic location, functional platforms, specialized industrial parks, key industries, and business-friendly environment during the event, where experts, professionals, and entrepreneurs engaged in insightful discussions—all aimed at fostering a world-class business climate.

A key signing ceremony was held during the conference, which saw 31 projects—with a total investment of 45 billion yuan, spanning nine major industries including bio-pharmaceuticals and medical devices, semiconductors and optoelectronics, integrated circuits, automotive, aerospace and marine equipment, advanced chemicals and new materials, new energy, film and culture, and the new economy—set to commence development in the QWCNA. The management of the QWCNA also signed cooperation agreements with eight industry associations, such as the Investment Association of China (IAC) and the Z-Park Non-Governmental Science and Technology Entrepreneurs Association, to strengthen the role of business associations as a bridge between government and businesses, fostering resource sharing, complementary advantages, and driving regional economic growth.

The event also featured an exhibition showcasing the achievements of high-tech companies from the QWCNA. Over 20 companies, including Qingdao BOE Optoelectronics Technology and Morningcore Holdings, participated in the exhibition, which served as a platform for fostering technological exchange and collaboration, presenting more than 100 products across various sectors such as marine engineering equipment, advanced manufacturing, integrated circuits, and marine bio-pharmaceuticals.

The QWCNA has, in recent years, adhered to a market-driven, rule-of-law-based, and international reform approach to pioneer an industry climate dedicated to maximum optimization to meet the highest domestic standards and best practices. The region has launched special initiatives for six consecutive years to improve further the business environment, which has yielded continuous progress. Cui Fangxin, partner at Chuxin Gongchuang Holding Group, commented, "We've been working with the (Qingdao) West Coast New Area since 2017 and have successfully attracted listed companies like Chengzhi Shareholding and Highbroad Advanced Material, as well as many high-potential enterprises, due in large part to the strong support from the QWCNA. It has a solid industrial foundation, and its 'one-stop' services have significantly reduced our initial operational costs. We are confident about future growth," commented Cui Fangxin, a partner of Beijing-based tech investment group Truesino.