Qingdao is one of the most important success stories of China’s economic miracle. This ever-growing city is home to one of the top ports in the country, two of China’s largest appliance makers (Haier and Hisense), the most recognizable consumer brand in China (Tsingtao Beer), a massive oil refinery project and strategic oil base in the Huangdao Development Zone, highly successful exporters, manufacturers, importers, and a large number of thriving multinational corporations either producing or operating offices here (such as Durex, Ikea, Nike, Lucent, Nestle, Stihl and many more). It’s no wonder the World Bank has honored Qingdao as one of China’s six “Golden cities”. The US Commercial Service agency had these good things to say about doing business in Qingdao:
Located on the southern tip of the Shandong Peninsula, Qingdao is one of eastern China’s major economic centers. Nestled between mountains and ocean, Qingdao’s unique cityscape is studded with lovely beaches, classic European architecture and ample green landscape. The city is well known for its historic and scenic tourist attractions, as well as being one of the best places in China to live and do business.
The World Bank honored Qingdao as one of China’s six “Golden cities” (a measure of investment climate, harmoniousness, governance and other measures). In recent years, the city has attracted billions in foreign direct investment and engages in trade with virtually every country on the planet. Among the city’s 17,854 foreign investment projects, 76 Fortune 500 companies have established projects in Qingdao.
Not to be outdone in heaping on the superlative praise, Foreign Affairs and International Trade Canada was on the same page with the American assessment, saying that:
Qingdao enjoys unrivaled economic advantages that include a fair market order, an efficient government system, guaranteed social securities, and world-class infrastructures – making it one of the most attractive destinations for foreign investments.
The Canadian report didn’t stop there though, and delivered enough stats and rankings to make a municipal PR officer blush:
In 2004, it was rated by CCTV as one of China’s top ten economically dynamic cities, and was the winner of the “Award for Entrepreneur Satisfaction”. The Chinese edition of Fortune magazine rated Qingdao seventh for best business climate amongst Chinese cities in 2005. In a report by the World Bank titled “Governance, Investment Climate, and Harmonious Society: Competitiveness Enhancement for 120 Cities in China,” Qingdao was ranked second overall, and was declared a ‘gold-metal city’.
Enjoy these photos of a metropolis on the move, the Sailing City going forward full speed ahead.