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More Transnational Corporations Flood into Shandong
More and more transnational corporations flooded into east China's Shandong Province during the past five years, as the province made every effort to optimize its environment for overseas investors.
From 1996 to 2000, Shandong approved the establishment of 9,583 overseas-invested companies, bringing about a total contractual investment of 21.38 billion U.S. dollars. The province's actual use of overseas investment during the five-year period reached 12. 75 billion U.S. dollars, said a foreign trade official at a recent press conference in the provincial capital.
By the end of last year, 81 of the world's top 500 transnational companies have invested in 182 projects in Shandong, the largest of which, a Sino-French joint power-generation project, involved a total investment of 2.23 billion U.S. dollars.
Statistics show that the Republic of Korea, Japan, the United States, France, Singapore, the Virgin Islands, Germany and Canada are among the top 10 investors in Shandong.
While investment in traditional industries such as textile, chemical, mechanics and light industries continue to rise, overseas investors have demonstrated a particular confidence in high-tech projects in the electronics and communication industries.
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