Deloitte China and the economy and information technology commission of Qingdao signed an agreement to build a service center for innovation and entrepreneurship among small and medium-sized enterprises on Dec. 15.

The Deloitte Qingdao service center for innovation and entrepreneurship among SMEs will be located at the public service center for SMEs in Qingdao. It promises to offer assistance and support for prospective local SMEs to evolve into industry giants and hidden champions.

According to another agreement signed on the day, Qingdao commerce bureau and Deloitte China will draw up a working mechanism for conducting professional consultation in industrial investment promotion to facilitate the industrial upgrading in Qingdao.

Deloitte China and its affiliates will provide professional services to Qingdao businesses by setting up local branches.