Shandong Province has identified several sectors for the use of overseas investment next year in a bid to attract a group of large overseas-funded projects with each investments of over 10 million or even 100 million US dollars.

Shandong will introduce overseas money mainly for the development of local infrastructure, agriculture, high-tech businesses, state-owned enterprise transformation, public facilities in urban areas, service trades, and tourism.

This means that changes will be taking place for local highways, railways, ports, airports, telecommunications facilities, water conservancy, the industrialization of local agriculture, and basic construction in urban areas.

It is estimated that Shandong will actually use 3.75 billion yuan (about 453 million US dollars) worth of overseas investment this year, a 4.2 percent rise over the 1998 figure. (Xinhua)