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Shandong Intensifies Its Efforts in Investment Attraction, with USD 11.47 Billion of FDI in Actual Use

Source：The Seanews 07-28-2023 14:31:28

In the first half of this year, Shandong witnessed a continuous influx of investment attraction activities, such as the 3rd Conference of Great Business Partners, 2023 Hong Kong-Macao-Shandong Week, Dialogue between Shandong and Multinationals, and Exchanges with Multinational Corporations in Shandong. The 2023 Hong Kong-Macao-Shandong Week series of events played a significant role in facilitating negotiations and implementation of several major cooperative projects with Fortune Global 500 companies. Leading government officials from 16 cities conducted 130 investment attraction activities, including 23 trips abroad, resulting in the signing of 146 foreign-funded projects. Through these efforts, Shandong has attracted investments surpassing USD 1.5 billion. The 3rd Conference of Great Business Partners achieved over 50% registration and construction progress for its contracted projects.

It is reported that 1,151 new foreign-funded enterprises were established in Shandong during the first half of the year, with a growth rate of 10.3%. The foreign direct investment (FDI) in actual use reached USD 11.47 billion, with 13 overseas Fortune Global 500 companies initiating 19 new investment projects in Shandong.

Furthermore, the structure of foreign investment has been continuously optimized alongside the increase in investments. As a prominent manufacturing province, Shandong has actively promoted investment across the industrial chain. In the first half of the year, the proportion of FDI in actual use in the manufacturing industry in Shandong was 11.2 percentage points than the national average, and there was a 63.9% increase in investment in high-tech industries.