Innovations Thrive in Qingdao's Laoshan District
Innovations Thrive in Qingdao's Laoshan District
The Laoshan district is pivotal in the overall development strategy of Qingdao. It has emerged as a leading city known for its innovations in science and technology, fostering strategic emerging industries. This unique environment has transformed the area into a breeding ground for new ideas and ventures.
The Growth of High-Tech Enterprises
Since the early 1990s, Laoshan has witnessed the rise of numerous high-tech companies. In fact, 1994 marked the beginning of a wave of technological advancements with the initial group of enterprises. Fast forward three decades, and the district is now thriving with a focus on strengthening the value chains of principal industries such as artificial intelligence and virtual reality, along with modern finance.
A Diverse Range of Innovative Enterprises
What sets Laoshan apart is its remarkable influx of innovative enterprises. The district is home to nine unicorn companies, 28 nationally recognized innovative enterprises, and 47 provincial-level gazelle companies, all leading in their respective fields. Moreover, with a staggering 920 high-tech enterprises, Laoshan has earned a reputation for its robust entrepreneurial landscape.
Leading in Scientific Innovation
Laoshan district currently boasts the highest concentration of scientific innovation in the region, with a rate of 178 high-tech firms for every 10,000 companies. Additionally, it hosts 52 national and provincial-level scientific research institutions, alongside numerous academicians and high-level talents contributing to the vibrant ecosystem.
Impact on Economic Output
By 2023, high-tech industries in Laoshan achieved an impressive 86.55 percent of the total output value across large-scale industries, with leading sectors surpassing 180 billion yuan (approximately $25.33 billion). This impressive figure reflects the district's commitment to fostering industrial excellence, earning its position as one of the top 100 industrial zones nationally for consecutive years.
Virtual Reality as a Focus Area
Among the many industries thriving in Laoshan, virtual reality stands out. The district has aimed to establish itself as China's virtual reality capital since 2016. The opening of a dedicated industrial park in 2022, covering over 2,000 mu (133.33 hectares), showcases its ambition to create a premier hub for virtual reality development.
Acquisition of Leading Companies
The establishment of this industrial park has attracted significant players in the sector. Leading companies like Douyin Pico and Dapeng VR have made their presence known, alongside key suppliers such as the electroacoustic component manufacturer GoerTek. Notably, over 80 percent of high-end VR products shipped from this park dominate the domestic market.
A Bright Future Ahead
In 2023, the virtual reality industry in the Laoshan district reached remarkable heights, surpassing 18 billion yuan with a year-on-year growth of 50 percent. This cluster of innovation garnered recognition as a provincial-level future industry cluster, paving the way for even more advancements in the sector.
Frequently Asked Questions
What role does Laoshan district play in Qingdao's development?
Laoshan district is a central component of Qingdao's strategy, focusing on scientific and technological innovation.
How many high-tech enterprises are in Laoshan district?
Laoshan currently hosts 920 high-tech enterprises, reflecting its robust industry presence.
What industries is Laoshan district focusing on?
Key industries include artificial intelligence, virtual reality, and modern finance.
What achievements has the virtual reality sector made?
The virtual reality industry in Laoshan surpassed 18 billion yuan in 2023, marking significant annual growth.
What distinguishes Laoshan as an economic hub?
Laoshan's high density of innovation and robust support for emerging industries sets it apart as a key economic hub in the region.
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