Shandong signs projects worth millions USD with Japanese investors

Fourteen Japan-invested projects worth 910 million U.S. dollars have been signed thanks to a docking activity held in both Jinan, capital of east China's Shandong Province, and Tokyo.

It was part of Shandong's campaign to strengthen strategic communication and docking with Fortune Global 500 companies.

With contracted foreign capital of 230 million U.S. dollars and a total investment of 910 million U.S. dollars, the projects signed on Tuesday involve high-end equipment manufacturing, new materials, ecological environmental protection, high-end chemicals, transportation, education, and training industries.

Shangdong saw its foreign trade with Japan, its third-largest trade partner, increase by 2.9 percent to 113.5 billion yuan (about 17.1 billion U.S. dollars) in the first three quarters of 2020. A total of 51 Japanese companies included in the Fortune Global 500 list have so far invested in 157 enterprises in the province.

Shandong will further improve its business environment and provide a more market-oriented and law-based investment environment for global investors, said Liu Jiayi, chief of the provincial committee of the Communist Party of China.