Supporting development

Businesses in the zone are encouraged to support the zone's industrial chain development to push related businesses' growth.

Shengrui started construction of its automotive industrial park in May last year to attract global transmission parts suppliers to the region.

The park, which will be completed this month, will be able to produce 400,000 sets of vehicle components annually, equal to 8 billion yuan ($1.16 billion) in industrial throughput.

"We will have lower production costs due to falling costs of inspection, cleaning and storage," said Sun Xiaoguang, secretary for the chairman of the board and head of the legal department at Shengrui.

Li Youguang, assistant general manager from Shandong Fuxiang Power, a parts supplier who moved into Shengrui's industrial park last year, said the company has seen significant growth in production capacity and scale.

The Xin'gang Industrial Park, designed to serve hightech and rising businesses in the zone, is under development. Weifang Special Steel Group and some power companies will move into the park upon completion.

Maintaining balance

Weifang Financial Town was established on March 7 in the zone to support the Weifang finance industry's development.

"It is a place for financial experts to turn their dreams for life and work into reality," said Yu Xinhua, chairman of the board of Weifang Financial Holding.

The town is one of 10 industrial parks in Weifang designed to facilitate the city's industrial upgrading and transformation.

Local authorities have vowed to design more preferential policies and develop a convenient and comfortable environment for businesses in the town.

The town will be a new milestone of Weifang and the development zone in supporting financial development.