Qingdao's enhanced business environment attracts more foreign investors. [Photo provided to chinadaily.com.cn]

Qingdao's enhanced business environment is attracting more foreign investors, who are eyeing growth opportunities in the city.

According to official data, in the first quarter of this year, the city saw 56,500 new registered entities, including 22,800 new companies, among which 122 were foreign-funded. As of March 31, the city boasts 13,000 foreign-funded enterprises, accounting for 0.62 percent of all market entities, with a total registered capital of $152.35 billion.

Among the new foreign-funded enterprises established in the first quarter of this year, foreign-owned companies remain predominant, totaling 103, comprising 83.74 percent of the total. Wholesale and retail businesses hold a significant share in new foreign investments at 34.15 percent, followed by leasing and business services, scientific research and technology services, and manufacturing.

Various measures have been implemented by Qingdao's market supervision departments in recent years to optimize the foreign investment environment and attract more foreign capital.

By enforcing the negative list management system for foreign investment access, promoting service-oriented law enforcement, and creating a more standardized and convenient market access environment, the city supports fair competition and integration into the industrial chain.

Additionally, continuous improvements in services related to approval, financing, customs clearance, legal affairs, and talent are being made to facilitate the efficient handling of various procedures and foster a favorable environment for foreign enterprises to thrive in Qingdao. These ongoing efforts aim to establish Qingdao as a highly open and welcoming destination for foreign investment.