Shandong Takes Lead in Overseas Investment

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Last updated at: (Beijing Time) Wednesday, December 18, 2002

Shandong Takes Lead in Overseas Investment

East China's Shandong province is leading the country in investment abroad both in the number of projects and the amounts involved.

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East China's Shandong province is leading the country in investment abroad both in the number of projects and the amounts involved.

In the first 11 months of this year, Shandong won approval for ten overseas processing trade projects, which engaged more than 20million US dollars of capital from the province, according to statistics from the State Economic and Trade Commission.

So far, the state has approved the province's 80 processing trade projects abroad, which involve investment of 178 million US dollars and generate about 470 million US dollars of exports annually.

A local trade official said the province would promote the transfer of production capability in some of its traditional industries, with Africa, the Commonwealth of Independent States, and the ASEAN free trade area as major target places.

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