The Qingdao National High-tech Industrial Development Zone has successfully attracted 217 foreign-invested enterprises with a total investment of approximately $6.85 billion. Among them are 34 foreign−invested industrial enterprises above designated size, contributing to an industrial output value of 16.57 billion yuan ($2.3 billion) in 2024.

AstraZeneca's inhalation aerosol production and supply base in Qingdao, with a total investment of $750 million and covering an area of 80 mu (5.33 hectares), is set to produce an estimated 54 million units of respiratory drugs annually, making it Shandong province's first manufacturing facility opened by a multinational pharmaceutical company.

"The continuous optimization of the business environment in the Qingdao high-tech zone and the unwavering efforts to provide high-quality services to multinational companies have instilled strong confidence in the development of multinational enterprises in both the Chinese and global markets, offering vast opportunities for growth," said Yuan Xuyi, general manager of AstraZeneca's Qingdao factory.

In recent years, the Qingdao high-tech zone has been committed to enhancing its role as a hub for high-level international openness. By fostering a conducive environment for the high-quality development of foreign-funded enterprises through streamlined approval processes and market expansion initiatives, the zone continues to expand the scope and depth of its international cooperation.

This proactive approach has garnered increasing recognition from foreign enterprises, including Edwards Vacuum Pump Manufacturing (Qingdao) Co Ltd, which has witnessed remarkable growth since its establishment in the zone in 2012. The company has invested a total of 1.1 billion yuan, completed four expansions, and currently has an annual production capacity of over 30,000 vacuum pump units.

"The reason we continue to invest in the Qingdao high-tech zone is because we are very satisfied with the business environment here. At the same time, we have great confidence in the Chinese market," said Zeng Yong, the company's general manager.

AstraZeneca's inhalation aerosol production and supply base in Qingdao is set to produce an estimated 54 million units of respiratory drugs annually. [Photo/Guanhai News]