Hub eyes vigorous expansion

Qingdao’s urban district of Shinan is aiming to vigorously expand its maritime economy, to have annual output worth up to 45 billion yuan ($7.1 billion) by 2022, according to officials.

Shinan is a maritime industrial hub in the eastern coastal city of Qingdao.

It’s home to a fishing industry, as well as shipping services, tourism, marine sciences research and equipment manufacturing.

Officials said encouraging cross-border e-commerce and logistics is part of the local government’s efforts to boost the maritime economy.

The district will lend a hand by providing financial support to associated sectors, including insurance and financing services.

It will also encourage healthcare companies to work with travel agencies to further develop the health and wellness industry along the coast.

In addition, the district has established various innovative industrial centers for scientific research institutes and companies engaged in such sectors as marine biomedicine, renewable marine energy and marine equipment.

This year the Yellow Sea Fisheries Research Institute in Shinan will start construction of a gene bank for marine species.

It is expected to be the first of its kind in terms of scale and the diversity of species.

The aim is to protect the fishing resources of the coastal province of Shandong, as well as China, for the sustained development of the fishing industry.

The Institute of Oceanology at the Chinese Academy of Sciences will also establish a marine data base system in 2022. Its aim will be to improve information sharing and the management of marine environmental protection, as well as the guarantee of marine rights and interests.

Shinan has long been a hub for Qingdao’s maritime industry. It is currently home to more than 4,000 shipping service companies and 68 marine science innovation centers.