THE Qingdao government signed a strategic cooperative agreement Dec. 29 with Shandong Ocean Investment Company, which is a financing platform to develop the marine economy on the Shandong Peninsula.

    A large State-owned enterprise in Shandong Province, the marine investment company was established Oct. 7 with registered capital of 2.5 billion yuan.

    According to the agreement, the marine investment company will be involved in investments in the city’s nine marine industries: transport logistics, equipment manufacturing, engineering construction, energy exploration, modern ocean fishing, marine biological engineering, marine ecology protection, ocean cultural tourism and related port industries.

    In the short term, the company will cooperate with the city in marine transport, port construction, yacht and shipping industries.

    In addition, the Shandong Ocean Shipping Company, which is affiliated with the investment company, signed a cooperative agreement with the city government to relocate its headquarters to Qingdao.

    With registered capital of 2.7 billion yuan, the shipping company is a big player in the shipping industry in Shandong Province.

    The Qingdao government will provide policy support to the shipping company in headquarters construction, ship maintenance, sailor training and logistics venue construction.

    The shipping company strives to become a competent international shipping enterprise in five years.

    (Martin Li, Jia Feng)