Shandong Solicits Investment for 617 ProjectsOfficials in East China's Shandong Province has decided to introduce about 70 billion yuan (8.53 billion US dollars) in investment from home and abroad for its 617 technological transformation projects.Li Zhaorong, deputy director of the Shandong Provincial Economic and Trade Commission, said Tuesday that the projects expects new and high-technology to upgrade the industries in the province. Priority will be given to cooperation with big companies or investors from multinationals, said the official. He said that 98 projects, involving a total investment of 23.8 billion yuan (about 2.9 billion US dollars), are open to overseas investment. The province plans to absorb a total of 1.3 billion US dollars worth of overseas investment for those projects. The coastal province is ranked third in gross domestic product for many years in China, and its chemical, building material, paper-making, textiles, machinery, electronics and information industry are among the best in China in terms of technology and economic returns. |
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