Qingdao is recognized as an innovative city. In 2022, it had 59,400 effective invention patents, with 58.99 patents per 10,000 people, ranking first in Shandong Province and among the top in the nation. At the beginning of 2022, the Ministry of Science and Technology of China released the "National Innovative City Innovation Capability Evaluation Report," where Qingdao ranked among the top ten cities nationwide, and was the only city in northern China to make the list.

Qingdao is a city of entrepreneurship, renowned as a capital of manufacturing and branding. Brands established in Qingdao, such as Haier, Hisense, Tsingtao Brewery, Doublestar, Aucma, CRRC Sifang, and TGOOD, have gained global recognition. According to the "2023 Global Unicorn Enterprises 500 Development Report" released at the 4th Global Unicorn Enterprises 500 Summit in 2023, Qingdao is home to 14 unicorn companies, ranking fifth nationally and second in northern China.

Leading Number of Unicorn Enterprises

Qingdao boasts a strong entrepreneurial atmosphere, having hosted the Global Venture Capital and Private Equity Conference for several consecutive years. This event has positioned the city as a global center for venture capital and private equity, creating a high-end platform for new ventures in Qingdao to connect with global investment resources. As of August 2023, Qingdao has 377 private fund managers registered with the China Securities Investment Fund Association, managing 2,424 funds. Among northern Chinese cities, Qingdao ranks second only to Beijing in this sector, with a managed fund scale exceeding 190 billion yuan. The total investment in Qingdao projects by various venture capital and private equity institutions amounts to 96.2 billion yuan.

2023 Qingdao Global Venture Capital Conference

The Qingdao Municipal Government's guidance fund has achieved notable success in leading venture capital investments. In 2023, the authoritative domestic equity investment industry institution, CV Source, released its annual China Private Equity Industry Series Ranking "CV Awards". The Qingdao Municipal Government's guidance fund was honored as one of the "Top 20 Best Chinese Private Equity Investment Guidance Funds of 2023." As of the end of November 2023, the Qingdao Municipal Government's guidance fund has invested in over 100 funds, with a total scale exceeding 130 billion yuan. Focused on key industries at the national, provincial, and municipal levels, the fund has cumulatively made equity investments in over 900 entrepreneurial enterprises through these funds.