Approved by the State Council in October 1984, QDZ was officially launched on March 28, 1985 with an original area of 15 km2. The State Council approved the land extension to 20.02 km2 on May 13, 2005. In 1992 QDZ was merged with Huangdao District and set up the Free Trade Zone and the New Technology Industrial Experimental Area. In 1995 approved by the Shandong provincial Government Xuejiadao Tourism Resort (now the name changed to Phoenix Tourism Resort) was set up. At present the total area (including Huangdao District) is 274.1 km2 with a population of 428,000 among which the permanent people is 280,000. During the last 20 years of construction, QDZ has witnessed the rising up of a modern new international metropolis and it has become one of the most concentrated areas opening to the outside world in China.
Investment promotion and project construction are the focus of all the economic tasks. Till now, there are a total of 1,852 approved foreign-funded projects from 53 countries and regions, with the actually utilized investment of 4.57 billion USD. There are 312 projects with individual investment above USD 10 million, 9 of which exceeded USD100 million. Besides, there have been 48 projects invested by companies listed among the Global Fortune 500 in QDZ. With the fast development of reform and opening-up, Haier, Hisense, Aucma, Sinopec, CSIC, CNOOC, CIMC etc. all locate in our zone. In 2004 the total actually utilized investment is 1.18 billion USD and the actual national investment is 5.65 billion RMB Yuan. From January to May 2005, the actually utilized investment is 250 million USD.
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