The Rubber Valley office of the China Rubber Industry Association, the association's Rubber Shoes Branch, Rubber Hose Belts Branch and China Gutta-Percha Research Institute established themselves at the Rubber Valley in Qingdao on Oct 16, 2011.

The Valley, jointly built by the China Rubber Industry Association, Qingdao's Sifang district government, Qingdao University of Science and Technology, enjoys the advantages of favorable policies from the government and the university's technological support.

"We have established a sister relationship with Akron, an American city that is famous for its rubber industry. We can conduct in-depth exchanges with each other," said Cai Quanji, deputy chief of the city's Sifang district committee.

"Universities and companies will partner with us to shorten the process of the transformation from academic theories to products. This will create a win-win situation for both sides," said Liu Guangye, deputy principal of University of Science and Technology.

Based on ideas drawn from the US Silicon Valley, the Rubber Valley attaches great importance to marketing and technology. With an investment of about 10 billion yuan ($1.57 billion), the valley is designed to cover a land area of 200 hectares.

The Valley has six major functions – scientific research and education, business startup, exhibition and convention, cultural expo, information platform and agency services.

"It is predicted that in the next five years, hundreds of rubber companies will join the valley, with a trade volume estimated at 50 billion to 100 billion yuan, thus making China Rubber Valley a world-renowned brand," Fan Rende, president of the China Rubber Industry Association told China Daily.

By Wu Binbin (China Daily Qingdao Bureau)

Edited by Chen Zhilin and Tania Lee