The Qingdao & Shenzhen Entrepreneurs Association has paved a new path of win-win cooperation among enterprises, entrepreneurs and cities, said Qingdao authorities.

Established on Nov 7, 2019, the association is designed as a platform for exchanges, innovation and win-win cooperation between entrepreneurs from Shenzhen and Qingdao.

The Qingdao & Shenzhen Entrepreneurs Association is established on Nov 7, 2019 in Shenzhen, Guangdong province. [Photo/WeChat account: qdfbwx]

In the past year, the association has been working to promote the integration and sharing of information, technology, capital, talent and other resource elements between the two cities.

Official statistics show that 58 projects invested by Shenzhen-based companies and institutions have been settled in Qingdao over the past year, with 18.6 billion yuan ($2.83 billion) of investment up and running, making Shenzhen one of Qingdao's main sources of domestic capital.

Since last year, Qingdao has launched a campaign to learn modern urban management experience, financing models and advanced industrial development concepts. A batch of business promotional activities has been held by the two sides to facilitate cooperation.

Qingdao is a dynamic city with huge development potentials. [Photo/VCG]

When speaking about why people should invest in Qingdao, Li Chunyu, vice president of Shenzhen Association of Private Funds, said that the city is a very dynamic city with an exceptional industrial structure and great investment opportunities.

"Qingdao takes venture capital very seriously and is aiming to build the city into a global venture capital with many supportive policies," said Li, adding that Qingdao attaches importance to the development of emerging industries, which is an important reason why private equity firms and venture capital firms from Shenzhen are willing to invest in Qingdao.