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Chinese Port City Lures More Multinational Firms
Qingdao, a major port city in east China's Shandong Province, encourages more multinational corporations to make investment in its industrial and trade sectors in the years to come.
Multinationals are especially encouraged to invest in infrastructure and various new and high-tech industries, according to sources with the local government.
The city has been concentrating on attracting multinationals investors, such as the world's top 500 corporations, over the past several year.
To date, 37 of the world's top 500 companies, including the U.S. Lucent, German Metro and the French Carrefour, have already opened subsidiaries here.
These ventures are mainly engaged in such areas as electronic equipment, machinery, foodstuff, and trade.
Qingdao has just established an investment promotion bureau to attract more overseas capital.
While sponsoring investment and trade fairs, the Bureau will set up several representative offices overseas this year.
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