QINGDAO’S Chengyang District has signed a deal with Advanced Business Park (China) Holdings Group Co. to construct a base to house company headquarters.

    The 11-billion-yuan project covers a floor area of 2.6 million square meters and is expected to attract as many as 2,000 enterprises to set up their headquarters.

    The headquarters economy is gaining momentum in downtown Qingdao, with an increasing number of firms establishing a presence.

    Financial, software and logistics enterprises are a driving force.

    The business districts on Hong Kong Middle Road and Shandong Road are home to more than 90 percent of the city’s financial enterprises and all the city’s foreign banks.

    Electronics enterprises like NEC and IBM have established branches in the software park in the city’s south, along with more than 160 other enterprises. The park’s revenue accounts for over 50 percent of the city’s software industry.

    The city now has more than 210 head office buildings.(Li Hao, Zhou Jianliang)