Just days before its sixth anniversary, the Qingdao Area of the China (Shandong) Pilot Free Trade Zone, also known as the Qingdao FTZ, released a scorecard highlighting six years of growth and reform.

The Qingdao FTZ has delivered 358 institutional innovations, 97 of which have been adopted across the province or nation, while economic added value surged 61 percent to 1.37 billion yuan ($192.12 million) per square kilometer.

"Since its establishment, the Qingdao FTZ has attracted 96 new Fortune Global 500 investment projects, bringing the total to 190," said Wang Li, vice director of the Qingdao FTZ administrative committee, adding that the zone has also introduced 724 domestic projects each worth over 100 million yuan, and 90 foreign ventures exceeding $10 million.

Approved by the State Council, China's Cabinet, in August 2019, the zone's share of Qingdao's total imports and exports has jumped from 16 percent to 20 percent, making it the top performer among the province's three free trade zones. It has created 147,000 jobs – 10 percent of the city's annual net employment.

By virtue of its deep-water berths and bonded zones, Qingdao FTZ has deepened the integration of ports, shipping and finance, boosting both domestic and foreign throughput.

A "10+1" innovation system now clusters the integrated circuits, intelligent manufacturing and life-health industries; the Sino-German Ecopark and Belt and Road Initiative platforms underpin expanded links with Japan, South Korea and Germany.

Wang, who also serves as executive vice director of the Sino-German Ecopark administrative committee, noted the zone's role in international cooperation.

"A Sino-German International Business Club has been established, becoming a comprehensive service platform integrating exhibitions, promotions, roadshows, business matchmaking, and transactions," she said.

"It has emerged as a key window for Shandong and Qingdao to showcase high-level opening-up," Wang added.

Officials credit the zone's first-class business environment to streamlined customs, smart government windows and a rules-based legal framework, reinforcing the zone's role as a national pilot for high-standard opening-up.

Sui Bin, another vice director of the Qingdao FTZ administrative committee, said the zone has also been accelerating technological innovation and advanced manufacturing.

"We have issued new policies to boost scientific innovation, accelerate the development of new quality productive forces, and increase the intensity of corporate R&D investment, with a focus on key industries," he said.

As of mid-2025, the Qingdao FTZ had gathered 92 innovation platforms, including manufacturing innovation centers and corporate technology hubs. The number of high-tech enterprises in the Qingdao FTZ is now growing at an annual rate of 10 percent.

The Qingdao FTZ, which turns six on Aug 31, achieves remarkable reform and development results. [Photo/IC]