QINGDAO plans to speed up the transformation of its industrial structure in order to promote the reform of the city’s State-owned companies in the next five years.

The city will build core State-owned companies that are competitive internationally. Hisence Group will be built into a large home appliance and information technology group with advanced technology and Tsingtao Beer will become a leading brand in the industry, while the Hiwin Group will target becoming a green and low-carbon new chemicals enterprise and the Beverage Groups will become the country’s leading brand in the industry.

The city will also focus on the sustainable development of the finance industry. A government platform will be built for the development of the financing of State-owned investment companies, while investment projects will also be exploited to increase the scale of the State-owned financial companies in the city.

Public service companies, such as water, heat, gas and power companies will also be improved in the next five years. (Wang Yuanyuan, Lin Gang)