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Some 107 companies of the world's top 500 giants have invested in east China's Shandong Province, one of the country's economic powerhouses.
Shandong saw an annual 14.1 percent rise in foreign trade during the past five years, with exports rising 14.2 percent, said acting governor Han Yuqun at a recent meeting of the provincial people's congress.
In 2002 alone, the province conducted 33.94 billion US dollars in foreign trade, up 17.2 percent year-on-year, and used 6.52 billion dollars of overseas investment, up 47 percent.
So far, some 13,000 overseas-funded projects have been approved in Shandong, actually using 21.93 billion dollars of overseas money, he added.
Han attributed the achievements to the further improvement of local services provided for overseas investors, which has turned out to be successful in boosting the local economy despite the world's economic downturn.
Shandong enhanced cooperation and exchange with more than 160 countries and regions over the past five years and has seen local cities establish bonds of friendship with 111 cities worldwide.
(Xinhua News Agency April 1, 2003)
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