1. Qingdao Economic and Technological Development Zone
The Qingdao Economic and Technological Development Zone, population 220,000, was founded in 1984 and began construction in 1985. It is a new center for heavy industries, especially chemical industries. Covering 220 square km, it is divided into six zones-----heavy industrial area, port-adjacent industrial area, international trade area, "vegetable basket project" area, tourist and holiday resort area, and administrative and business center area. It is authorized with the rights of approving foreign investment projects which are less than USD30 million, and also the right of approving the investor's application for industrial and commercial taxation registration, the land lease contracts, custom's supervision and commodity inspection etc as well.
By the end of 1999, the zone had attracted investment from over 50 countries and regions. The 1,121 foreign-funded projecis in the zone involve USD2.24 billion of committed overseas investment, with USDI 1.21 billion already invested.

The website and contacts for the Economic Development Bureau of Qingdao Economic and Technological Development Zone Administraiive Committee is as follows.
£­Tel: 6897249¡¡Fax: 6898249
£­E-mail: liqingjun@bestinvest.org
£­Websiie: http://www.bestinvest.org

2. Qingdao Free Trade Zone
The Qingdao Free Trade Zone with a planned area of 2.5 square km, began operation in 1993, is the sole free trade zone in Shandong Province, as well as along the Yellow River. It is a comprehensive open economic area that combines free trade with bonded warehouses, export-oriented processing industries and commodity exhibitions. With complete infrastructure facilities, the zone offers a sound investment environment.
By the end of 1999. the zone had approved 1,284 projects funded by businesses based in more than 40 countries and regions, involving total investment of USD670 million. with USD320 million paid in. In additon, the zone had completed 100,000 square meters of bonded warehouses.