As one of the first 14 coastal open cities, Qingdao has gradually integrated into the globalization process in the past three decades. It has witnessed the development stages from earning foreign exchange through exports; utilizing foreign capital via “Three processing and one compensation” (namely assembling with supplied parts; processing with supplied materials and samples and compensation trade); encouraging “Introducing in” and “Going Globally”; being included into the state “Belt and Road Initiative” strategy and positioned as the economic corridor of Neo-Eurasia Continental Bridge and a pivot city for Maritime Cooperation strategy.

Since reform and opening up to the world, Qingdao established economic partner relationship with 30 foreign cities such as Busan of R.O. K., Kyoto of Japan andSan Franciscoof theUSA, and partner city relationship with BRICS such asRio de JaneiroofBrazil, St. Petersburg of Russia, Mumbai of India and Durban of South Africa. Qingdao Centers for Business and Commerce in Singapore and Busan also put into operation. In May of 2014, the Meeting of the APEC Ministers Responsible for Trade was successfully held in Qingdao and the Qingdao Declaration was issued afterwards. The meeting helped Qingdao to improve its fame and reputation and Qingdao made its due contribution to the global economic integration.  

As opening up in 1984, Qingdao respectively established five state-approved economic parks (including state-level economic and technical development zones and special customs surveillance zone) such as Qingdao Economic & Technical Development Zone, Jiaozhou Economic-Technological Development Zone, Qingdao Bonded Port, Qingdao Export Processing Zone, Qingdao Western Coast Export Processing Zone and seven provincial level development zones. In 2014, Qingdao Western Coast New Area became the ninth state-level new area. All the above state new zones, state and provincial-level open parks construct a broad platform for Qingdao’s opening to the world. In the recent years, the Qingdao Bonded Port, Western Coast Export Processing Zone, National Ship Exportation Base, National Electronic Information Innovation Base, National Equipment Manufacturing Base and E-Commerce Pilot City were respectively approved. Qingdao Economic & Technical Development Zone has become the first pilot for mechanism innovation nation-wide. Qingdao Bonded Port was authorized for finished automobile import. The plans for Sino-German Ecopark, Sino-Japan, Sino-R.O.K Cooperation Innovation Industry Park have been developed. Haier-Ruba Economic Zone in Pakistan is the first overseas economy and trade cooperation zone of China. From January to October of 2015, the accounted capital of the 12 provincial-and-above-level economic parks reached 2.62 billion US dollars, accounted for 44.9% of the city’s total; the import and export volume reached 30.27 billion US dollars, for 53.6% of the city’s total. The revenue of the economic zones has contributed a half of the city’s total.