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Shandong Reports Increase in Trade, Investment
East China's Shandong Province has reported a 21.2-percent increase in foreign trade in the January- July period of this year, said sources at the provincial capital.
Statistics show that Shandong's total foreign trade during the seven-month period hit 16.39 billion U.S. dollars, with 9.94 billion U.S. dollars in exports and 6.45 billion U.S. dollars in imports.
Analysts here attributed the rise to Shandong's unremitting efforts to readjust export commodities' structure and to tap the international market.
The province has encouraged local enterprises to expand exports to traditional markets and emerging markets. Exports of machinery and electric products were up 24 percent to 2.12 billion U.S. dollars during the seven months. Meanwhile, exports of garments, vegetables and seafood were up by 14.6 percent, 30.7 percent and 32.9 percent respectively.
On the other hand, Shandong has stepped up efforts to improve its environment for overseas investors. Through the 1,631 overseas- invested projects approved since the beginning of this year, the province has actually used 2.1 billion U.S. dollars of overseas investment, up 25 percent over the same period of last year.
While more overseas investment has poured into Shandong, the province has also encouraged enterprises and individuals to do business in other countries. Almost 600 overseas enterprises funded by Shandong are now in operation.
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