The West Coast Economic New Zone in Qingdao, a coastal city of Shandong province, will achieve a GDP of 500 billion yuan (US$79.3 billion) by the end of the 12th Five-Year-Plan period (2011-2015), according to the local government.

It accounts for around 76 percent of the GDP of the whole city in 2011.

The zone will have a land area of 2,096 square kilometers, a marine area of 5,000 sq km and a population of 1.39 million, according to the Development Plan of the West Coast Economic New Zone published by the local government of Qingdao city.

In 2011, the new zone achieved a GDP of 182.3 billion yuan (US$28.62 billion). Local tax and fee revenue was 10.2 billion yuan, according to data from the local government.

The West Coast Economic New Zone has been planned and constructed and with sound infrastructure, the latest planning and technology, and considerable financial support from the central government, it is expected to grow into a leading economic hub and to be similar to Shanghai's Pudong New Area.

Some newly emerging industries will be prioritized, such as the marine equipment manufacturing, aviation and space industry, marine transportation and logistics, and the marine-related financial service.

The new zone will further open to the foreign investment and be established as an international shipping hub. The Dongjiakou Port will become a driving force for the whole region.