To establish Qingdao as a modern, open city, the local governmentwill renew its efforts to attract investment and boost foreign trade.

The city government has set a target to achieve a foreign trade valueof $95 billion in 2015, compared with $71.2 billion in 2011.

In addition, the government will have a greater preference forinvestment in large projects related to advanced manufacturing andmodern services, especially in the financial sector, including investment banks, hedge funds andventure capital firms.

In addition to attracting foreign companies to Qingdao, the city is also encouraging local enterprises toinvest abroad and seek listing on foreign stock markets.

Following the central government's nationwide strategy of urging companies to go global, Qingdao willgive more assistance to companies investing in overseas agriculture, mining, energy, commerce,manufacturing and construction.