Asia's first cylindrical floating production, storage and offloading device, designed and built by China, is completed in Qingdao, Shandong province, on April 26. [Photo/Guanhai News]

Qingdao in Shandong province has made remarkable achievements in the marine economy in the first half of the year.

Official data show that 212.53 billion yuan (429.33 billion) was invested in 140 key marine projects in Qingdao, with construction having already begun on 120 of them. Seven projects have been completed, including the North Pier of the Ocean Drilling Ship, and a total of 86 new marine projects were signed into effect during the period, with a total investment of 47.27 billion yuan.

This year, Qingdao has prioritized the construction of key marine projects, according to Xu Lu, director of the Economic Operation Department of the Qingdao Municipal Marine Development Bureau.

Xu also stated that moving forward, Qingdao will continue to focus on attracting new projects and promoting the production of marine projects in a bid to expand production capacity and support the high-quality development of the city's marine economy.

Among the marine key projects that started construction this year, 31 are new. One of the projects, the China Power Construction Corporation's 1.15 million kilowatts offshore photovoltaic power generation project, has a planned total investment of 10.2 billion yuan. The project is intended to promote the integrated development of the marine new energy, marine equipment, and marine ranching industries in Qingdao.