The Qingdao Integrated Circuit Industry Park received 100 million yuan ($13.81 million) for the construction of emerging industry specialized parks. This funding will accelerate the development of its infrastructure, enhance municipal support capacity, and contribute to its high-quality growth.

The Qingdao Integrated Circuit Industry Park in Qingdao city, Shandong province. [Photo provided to chinadaily.com.cn]

To speed up development of city-level industrial parks, Qingdao has provided them 100 million yuan annually for the past three years. The Qingdao Free Trade Zone Administrative Committee has closely collaborated with relevant departments and enterprises to actively promote the fund application process.

The Qingdao Integrated Circuit Industry Park officially opened in November 2022, covering an area of about 903.3 hectares. The park focuses on integrated circuit manufacturing, equipment, packaging, testing, and research and development.

It has attracted 40 key enterprises with a total investment of 179.3 billion yuan ($24.76 million), marking early success in the development of the integrated circuit industry. In 2023, the park ranked 14th in the "Top 30 Integrated Circuit Parks in China".

The Qingdao FTZ will focus on national strategic development, aiming to establish itself as a major hub for integrated circuit industry aggregation in China. Through the Integrated Circuit Industry Park, Qingdao will quickly add industry value chain projects, ramp up industry ecosystems, and drive the high-quality growth of the integrated circuit industry.