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Shandong Becomes Major Taiwan Investment Absorber
Statistics show that Shandong Province in east China has become a major destination for investment from Taiwan.
By the end of last year, Shandong has ratified a total of 4,336 projects, involving about 7.2 billion US dollars of investment. The contracted investment volume reached US$3.89 billion and the actual volume was about US$2.14 billion.
Last year, Shandong absorbed US$450 million in contracted investment, up 132.8 percent from 1999.
Currently, over 2,400 Taiwanese-funded enterprises are already in operation.
The most important activity in the province to incur investment from Taiwan was a trade fair following the prestigious Weifang Kite Festival. The fair is now well known in both Shandong and Taiwan and trade deals reached hit an average US$500 millions.
So far, several coastal cities like Qingdao, Yantai, Weihai and Binzhou, have already set up industrial parks for Taiwanese businessmen only.
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