The administration committee of Red Island Economic Zone in Qingdao city signed cooperation contracts with several corporations on infrastructure construction and development, according to a signing ceremony on January 22.

The Qingdao City Construction Investment Group signed land development cooperation agreements with the Economic Zone’s administration committee and also signed investment and construction framework agreements with several state-owned enterprises at the ceremony. The infrastructure construction, public welfare projects and village renovation of the Red Island Economic Zone will be conducted after the signing ceremony.

It is reported that Red Island Economic Zone is deemed as a key strategic reserve space for the development of Qingdao City.