Shandong has made utmost efforts to attract more Fortune Global 500 enterprises this year, according to the Department of Commerce of Shandong Province. Shandong has signed 115 projects with 51 Fortune Global enterprises in the first nine months, with a total investment of 20.37 billion U.S. dollars, a significant increase.
The commercial department said the 51 Fortune Global 500 enterprises are from countries including U.S., South Korea, France and Japan. A total of 20.37 billion USD was attracted, of which 7.12 billion USD was contractual foreign investment, covering 22 fields including the modern service, high-end manufacturing and environmental governance.
A batch of remarkable projects concerning new technology, new industries, new industrial patterns and new models was also brought in.
The Fortune Global 500 enterprises under contract with Shandong increased by 2 over the same period last year and the cooperative projects 18. The total investment volume increased by 6.9 billion U.S. dollars, up 51.2 percent year on year. The foreign investment increased 1.59 billion U.S. dollars, up 28.8 percent year on year. 44 of the contracted projects have settled down with a contractual investment value of 1.05 billion USD.
The cooperation with Fortune Global 500 enterprises has injected new vitality to the major projects for the transition from old growth engines to new.