Shandong's paid-in foreign investment up 30.2 percent in Jan.-Oct.

East China's Shandong Province saw its paid-in foreign investment grow by 30.2 percent year on year in the first 10 months of this year, local authorities said on Sunday.

The actualized use of foreign investment in Shandong reached about 12.6 billion U.S. dollars from January to October, according to the provincial department of commerce.

The growth was mainly due to the service sector. Paid-in foreign investment for Shandong's high-tech service industry rose by 95.1 percent to 1.56 billion U.S. dollars.

A total of 2,260 foreign-invested enterprises were newly established during the period, an increase of over 20 percent compared with the same period in 2019, said the department.

Shandong has rolled out a series of measures to facilitate foreign-capital inflow, including streamlining investment procedures for foreign investors and launching campaigns to strengthen strategic communication and docking with Fortune Global 500 companies.