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|Wednesday, February 21, 2001, updated at 16:45(GMT+8)|
East China Province Invests OverseasEast China's Shandong Province has invested in 86 countries and regions, involving a total investment of US$373 million, sources said.
By the end of last year, the province had established 553 enterprises and branches overseas, according to statistics fro the provincial foreign trade and economic cooperation department.
These enterprises and branches run business in fields like textiles, clothes, building materials, machinery, electronics, home appliances, food processing, light industry, medicine, construction, aquaculture and services.
And 69 percent of the enterprises were set up in developing countries.
Processing is the province's strong industry. It has 50 processing programs overseas, ranking first in the provinces in China. These programs center on home electric appliance, texture, building materials and food.
Haier Group, one of the world key home appliance producer based in Qingdao, Shandong Province, leads the province regarding it has invested 17 programs overseas. Its US-based refrigerator company, with an investment of US$28.9 million, has become a local famous supplier.
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