Uploaded containers are seen at Qingdao Port in Shandong province on Jan 9, 2023. [Photo/VCG]

Qingdao in Shandong province is accelerating its status as a strong trade city in six major aspects by setting its foreign trade target for this year at more than 1 trillion yuan ($144.9 billion).

The city will expand the international markets in a combined online and offline mode and organize 20 overseas exhibitions this year. It has formulated work plans for "one country, one policy", helped leading enterprises and warehouse operators expand sales networks and supported enterprises in obtaining orders.

Qingdao seizes the opportunities under free trade agreements such as the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Trans Pacific Partnership, deepens trade cooperation with countries and regions involved in the Belt and Road Initiative and expands both emerging and traditional markets such as Europe, the United States, Japan, and South Korea.

It strengthens 12 national foreign trade demonstration bases, enhances the competitiveness of "Made in Qingdao" and facilitates enterprises' digital transformation.

The city also deepens the pilot program of trade in services and builds trade parks in areas such as the West Coast New Area, the China-SCO Local Economic and Trade Cooperation Demonstration, Shinan district and Laoshan district.

Qingdao guides enterprises to make good use of domestic and foreign markets, expands the import of high-quality consumer goods such as meat, fruit and automobiles and cultivates a number of key enterprises including Liqun Group, Hiking Group and Tsingtao Brewery.

The city plans to attract 10,000 cross-border e-commerce entities with an industrial scale of 100 billion yuan.

It is also aiming to introduce 1,000 foreign trade entities and to provide financing for micro, small and medium-sized enterprises.

Source：China Daily