On July 8, the Qingdao-Shanghai Modern Service Industry Development Exchange and Cooperation Matchmaking Conference was held in Shanghai. Facing the requirements of coordinating the domestic and international situations, Shanghai and Qingdao, in south and north respectively, joins hands to help the domestic circulation.
 
Both Shanghai and Qingdao undertake national strategic tasks. The 2 strategic cooperation projects and 21 investment projects signed on-site at the matchmaking meeting involved cultural and creativity, financial and equity investment, new infrastructure, new retail, trade and logistics, etc., with a planned total investment of 35.6 billion yuan.
 
The interaction of domestic cities will further fully release the potential of China’s ultra-large domestic market, and use strong internal demand to escort the stable operation of the economy, driving the sustainable development of China's economy.
 
Wang Qingxian, member of the Standing Committee of the Shandong Provincial Party Committee and Secretary of the Qingdao Municipal Party Committee, said that under the context of deep adjustment of the global industrial chain and value chain, the Party Central Committee proposed to build a new development pattern that takes the domestic major circulation as the main body with domestic and international dual cycles promoting each other. The domestic cycle will inevitably be a cycle crossing the north and south and the east and the west which should work together. Qingdao, as a coastal city in the east, is also the estuary of the Yellow River Basin which possesses any superior development endowments, and also has the value of "dual nodes" connecting the north and the south, crossing the east and the west.
 
For Qingdao, modern service industry is a "golden key" to docking with Shanghai. In 2019, its added value of service industry was 714.857 billion yuan, which accounts for 60.9% of GDP, and surpasses the secondary industry by 25.3 percentage points, becoming the "new engine" and "ballast stone" for Qingdao's economic growth.
 
As a frontier for reform and opening up, and a leader in opening up for a long time, the development of Shanghai’s modern service industry tops the country. Wang Qingxian said that modern service industry features greater industrial radiation, wider space coverage and more powerful ability to integrate resources. Qingdao should play a due role in promoting the domestic circulation by developing modern service industry vigorously. It is hoped that Shanghai will use Qingdao as an important "transit station" to play the role of modern service industry radiation and promote the north-south east-west circulation, actively promoting the cooperation between the two parties in the fields of capital finance, shipping trade, high-tech services, cultural tourism, and business services, and strongly supporting the development of Qingdao's modern service industry.
 
Currently, Shanghai is implementing 3 new major tasks in an all-round way, continuously strengthening four functions, i.e., global resource allocation, technological innovation sources, leading high-end industries, opening hub portal, and accelerating the construction of international economy, finance, trade, shipping and technological innovation center. Service function is the most fundamental and important function of Shanghai, and provision of better service to national development is naturally Shanghai's duty-bound mission and responsibility.
 
To better learn about Shanghai's modern service industry, Qingdao has previously sent 51 cadres from relevant functional departments to Shanghai for professional training, taking a leaf from Shanghai's book to help the development of Qingdao's modern service industry. The training units include 18 units including Shanghai Pudong Development Bank, Shanghai Stock Exchange, Fosun Group and Focus Media with training time lasing two and a half months.
 
From the Yellow Sea Shore to the Huangpu River Bank, Shanghai and Qingdao will exert their respective advantages better, and strengthen cooperation and docking in various fields, jointly achieving preferable development in serving the overall situation of China.