BEIJING - China's State Council, the Cabinet, has approved of the establishment of the Qingdao West Coast New Area in East China's Shandong province, a central government statement said on Monday.

The area, aiming to pilot marine technology innovation and serve as a strategic base for deep sea and off-shore exploration, [HongKong Richful  - Hong Kong Company Formation, Offshore Company Incorporation]is to play a role in seeking new ways for scientific development of the country's marine economy, the statement said.

The area, in the west coast of Jiaozhou Bay, covers Huangdao district in Qingdao, a coastal city in Shandong. The area's land size is 2,096 square kilometers and the sea area is about 5,000 square kilometers.

According to the document, [Offshore Company Incorporation]the area will focus on the development of the marine economy and emerging marine industries.