Hub district eyes greater growth

Laoshan Mountain, the highest coastal mountain in China with the highest peak of 1,132.7 meters, is located near the East China Sea on the southeastern coastline of the Shandong Peninsula.

The mountain is culturally significant due to its long and enduring links to Taoism, and is regarded as one of the cradles of the religion.

Laoshan, in eastern Qingdao, is a new and modern district suitable for living and business. The district attaches great importance to the development of innovation and promotes emerging and service industries.

In recent years, it has become the leading district for high-end industry in Qingdao.

The finance sector is a pillar of emerging industries in Laoshan.

The Jinjialing Financial District in Laoshan is a center for national wealth management and a comprehensive financial reform and experimental area in Qingdao, providing preferential policies and professional incentive systems for the financial industry.

Since 2012, Jinjialing Financial District has promoted the building of a financial ecosystem, support facilities and risk prevention and control systems. During that time, the average annual growth rate of added value in the financial sector has reached 20 percent.

According to the district’s three-year construction plan, it’s designed to become an international wealth management base, a leading financial science and technology area and a financial security demonstration zone.

The added value of financial sector is expected to reach 17.5 billion yuan by 2020, accounting for 25 percent of the district’s GDP.