The finance bureau of Qingdao, Shandong province, called on investors to take part in 38 local major projects, the Qingdao Evening News reported April 21.

The 38 projects, with a total planned investment of more than 150 billion yuan ($24.2 billion), include Qingdao Metro Line 1, a new airport, an Olympic center and a science and technology museum.

The projects will adopt a cooperative mode, which calls for joint investment by the government, cooperatives and private companies.

According to the announcement, any domestic or foreign enterprise with a corporate capacity, excluding the local state-owned and state-holding enterprises, is also qualified for independent or joint application. They must have at least three-year construction, operation and management experience in the industry along with sound financial and project payment capacity. They should also have a good credit record with any bank or creditor in the past three years.