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Direct Overseas Investment Rises in Shandong Province
East China's Shandong Province saw a rapid increase of direct overseas investment by 20 percent last year, according to the latest statistics.
Last year direct overseas investment in this leading coastal economic province reached US$2.97 billion. The province had made use of overseas investment totaling US$24.2 billion by the end of last year, according to statistics.
In recent years, the Shandong Provincial Government has focused on promoting globalization of the local economy and encouraged local enterprises to cooperate with big overseas companies.
Instead of being managed only by governments in the past, many cities in Shandong set up more competent special agencies last year to draw in overseas investment, sources said.
To serve overseas investors, 12 cities in the province set up special complaint departments before the end of the last year, handling 300 appeal cases by overseas investors.
Shandong had approved a total of 26,000 overseas-funded enterprises by the end of last year, and 12,100 of them have gone into operation, according to the statistics.
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