The momentum of investment promotion efforts in Qingdao's Shinan district has been strong this year, with over 100 new projects each with a registered capital of over 100 million yuan ($14.11 million) introduced.

Actual domestic investment also rose 62 percent year-on-year to 20.1 billion yuan while actual foreign investment stood at $442 million.

The district has also implemented six major projects each with an investment of over 2 billion yuan, a 1.5 times increase compared to the same period last year.

Moreover, the number of newly registered and newly added enterprises has increased 1.6 times compared to the same period last year. Notable projects include Xinchen Industrial, 3D Medicines national headquarter relocation, ATRenew and Kqgeo Technologies

Since the beginning of this year, the district has been actively engaged in targeted investment promotion. Over 100 investment promotion delegations have been organized.

The district has also leveraged investment promotion that has resulted in 63 ongoing projects and 33 signed projects from more than 20 major events. The cumulative number of new projects this year has exceeded 1,100, and there are currently 287 investment projects, a year-on-year increase of 43.5 percent.