INGDAO’S ocean industry reported 29.3 billion yuan in industrial added value in the first half of this year, representing a 15.3 percent year-on-year increase.

Growing faster than the city’

s GDP, the ocean industry’s added value accounted for 11.3 percent of the city’s GDP.

The city has seen rapid development of key areas and projects in the ocean industry.

The Central Government has approved plans for Dongjiakou Port Area, with infrastructure investment of 10 billion yuan. The port area is expected to attract 30-billion-yuan worth of projects.

The area is expected to go into operation by the end of this year, with the opening of three docks.

In the first half of this year, Qingdao Free Trade Port Area achieved a foreign trade volume of US$2.44billion, a 75 percent year-on-year increase. Additionally, US$15.67 million in foreign investment was utilized by the port area.

The construction of Haiwan Bridge and undersea tunnels are under way, while other key projects like Qingdao North Railway Station are also under construction.

The city has seen progress in the development of ocean science research, receiving financial support for its key research projects.

The city will push the construction of five key functional areas, like Dongjiakou Port and an industrial area adjacent to the port, fostering industrial clusters of modern fisheries, coastal tourism, equipment manufacturing, petrol and chemical engineering.

(Li Hao, Li Xiaohai)