The Jiaodong Peninsula encompasses Qingdao, Yantai, Weihai, and Weifang, the most prosperous areas of Shandong. The region attracts a large number of overseas investors and already features intensive high-tech sectors.

Overall strength

In 2009, the peninsula's high-tech sectors achieved a combined output value of 1.18 trillion yuan, 50 percent of the province's total. The same sectors reported an export value of $59.2 billion, 74 percent of Shandong's total.

In the first half of this year, Qingdao, Yantai, Weihai and Weifang, collectively reported an export value of $34.1 billion, a year-on-year increase of 40 percent and 73 percent of the province's total.

Cities in the peninsula have plans to build industrial zones and parks.

Currently, the region is home to four State-level economic and technical development zones, four State-level high-tech industrial zones, two State-level export processing zones, and more than 40 provincial-level development zones. They have attracted top enterprises to invest in over 350 projects.

According to local government plans, considerable importance will be attached to nurturing 10 high-tech industries - computers, communications, information appliances, digital equipment, software, optoelectronics and solar photovoltaic, special fiber and composite materials, special metal materials and products, special vehicles, and new energy.

Key industries

In addition, great efforts will be made to develop five equipment manufacturing industries - transportation equipment, numerical control machines, special equipment, new energy equipment and aerospace equipment.

High-end technologies will be used to upgrade the region's six major traditional industries - light, textiles, machinery, chemicals, metallurgy and building materials.

Local government is also focusing on the modern service sector, which includes finance and insurance, industrial design, modern logistics, service outsourcing, information services, technological services, environmental services, e-commerce and exhibitions, tourism, sports and entertainment.

The region is expected to see a robust growth of marine-related industries, as well. These include specialty ships, marine engineering machinery and offshore oil drilling platforms.

By Ju Chuanjiang and Wang Qian (China Daily)