Qingdao boasts a vibrant economy in East China. [Photo provided to chinadaily.com.cn]

Qingdao recently launched a three-year action plan to boost the development of the real economy, in a bid to build a modern industrial system with international competitiveness, local media reported.

Measures will be launched to advance the development of the digital economy, intelligent manufacturing, life and health, new materials and other strategic emerging industries to create new growth areas and drivers.

The city will promote deep integration between the internet, big data, artificial intelligence, and the real economy, and make the manufacturing, agriculture, and service sectors more digitalized, smart, and internet-powered.

The output value of industrial enterprises above designated size in Qingdao is expected to exceed 1.5 trillion yuan ($224.7 billion), and the added value of producer services will reach 650 billion yuan by 2024.

The city will strengthen seven competitive industrial chains, namely smart home appliances, rail transit equipment, new energy vehicles, high-end chemicals, marine equipment, and food and beverage, as well as the textile and garment industry, with the total industrial scale exceeding 1 trillion yuan.

It will expand 10 emerging industrial chains, covering integrated circuits, virtual reality, artificial intelligence, biomedical and medical devices, general aviation, hydrogen energy, and other areas.

Efforts will be made to expand seven modern service industry chains involving modern finance, modern logistics, software and information services, scientific and technological services, cultural tourism, and exhibitions.

Qingdao will also advance the development of future industries such as genetic technology, the future network, marine internet of things, brain-like intelligence, and quantum information, to gain an upper hand in international markets and create new advantages for development.

Source：CHINA DAILY-Charming Qingdao