Shandong to Open Wider to MultinationalsEast China's Shandong Province will expand cooperation with multinationals in the coming years, according to a senior official of the provincial government. Du Shicheng, deputy governor of the province, said that drawing investment from multinationals will be a key part of Shandong's efforts in using overseas investment in Shandong.Du said that Shandong will encourage multinationals to engage in high-tech industries, service trade, and infrastructure. In addition, other areas like finance, foreign trade, tourism, telecommunications, and transportation will be more open to multinationals, he said. He said that Shandong will implement a series of measures to provide favorable business environment for multinational investors. It will ban all administrative fees that are not approved by the State Council, the Ministry of Finance, the State Development Planning Commission and the provincial government. A responsibility system will be set up with which related government departments will handle complaints from overseas investors. Known as one of economic powerhouses in China, Shandong now has a total of more than 20,000 overseas-funded enterprises, according to the latest issue of Beijing Review. |
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