"For 30 years, Qingdao has danced with the world, met great economic partners and made tremendous social progress," said Xia Geng, mayor of Qingdao.

As a result, the famed city on Shandong peninsula today offers an energetic and modern ambience.

Its latest embodiment was given a boost in 1984 when the port on the Huanghai Sea was named one of 14 coastal cities approved to open to the outside. A national economic and technological development area was established the same year.

The city was given provincial-level status in the State economic plan of 1986.

In 1992, the city opened a bonded area and a hi-tech industrial zone. It was then listed among 15 sub-provincial cities in 1994.

Global economy

In January 1979, the first international compensation trade program in Shandong province was approved in Qingdao.

Thanks to the opening-up, Qingdao Huahe International Leasing Co Ltd, the city's first Sino-foreign joint venture, was established in May 1984.

Advanced technology and techniques have since modernized production and boosted famous-brand enterprises including Haier, Hisense and Doublestar.

Qingdao sent the first trade group to South Korea in 1988. Today South Korean firms are major partners for Qingdao enterprises.

China's entry into the WTO also sharpened Qingdao's edge.

From 2002 to 2007, the city approved 11,498 foreign-invested projects worth US$34 billion in contracted capital.

By the end of 2007, 20,357 foreign-invested projects from 109 countries and regions had been approved by the city involving pledged capital of US$51.3 billion and utilized capital of US$27.7 billion.

International enterprises have to date created jobs for 780,000 people, about 40 percent of the city's total work force.

The firms also generate 60 percent of the city's total export volume.

More than 160 projects by 80 global Fortune 500 companies have begun operations in Qingdao, giving a strong boost to the city's modern manufacturing and service sectors.

After absorbing technology and investment, Qingdao companies then quickened their pace going international.

Haier Group has invested in 58 overseas projects, including 30 manufacturing facilities and three industrial parks. The Haier-Ruba Economic Zone in Pakistan was the first such zone abroad by a Chinese enterprise.

A combined US$440 million in overseas investment by Qingdao companies has now reached 54 countries and regions.