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CHINA DAILY EUROPEAN WEEKLY March 25 - 31, 2016 SPECIAL 13 Shandong discusses future cooperations Talks held with global investors on sides of forum, Li Yang reports.

he Shandong government welcomed companies in the Shandong Governor Guo Shuqing global top 500 to invest in the coastal province at a “Shan- Tdong Night” promotion on Sunday prises.” Since Henkel Loctite set up its during the 2016 Development branch in , Shandong, in 1987, Forum in . becoming the first foreign company The province has more than 3,000 to do so since the late 1970s, the Shan- kilometers of coastline, accounting for dong government has approved 642 one-sixth of China’s total coastline, and projects funded by 203 of the world’s is the third-largest economy among top 500 corporations. China’s provincial regions with about Of those, 485 projects are still oper- $1 trillion in gross domestic product ating, with overall investment of $15.3 Workers oversee a printer production line for Samsung in , Shandong province. PHOTOS PROVIDED TO CHINA DAILY last year, roughly the size of Indone- billion. sia’s GDP. The main international companies development of the latter. dong government aims to build a 5G trucks more fuel-efficient through Shandong Night was co-organized investing in Shandong include Elecric- Zhang Weike, foreign investment network infrastructure and improve cooperation with the Man Group. by the Shandong government and ite de , the Man Group of Ger- division director of the Shandong com- its service abilities. It exported 27,800 trucks last year, China’s State Council Development many, General Motors from the United merce bureau said: “Supplementary Li Guangjie, a researcher of eco- and has been the largest heavy-duty Research Center. States, Kia Motor Group and LG Elec- investment and projects have become nomics with the Shandong Academy truck exporter in China for 11 con- Shandong Governor Guo Shuqing, tronics from , Royal P&O an important channel for Shandong of Social Sciences, said the province’s secutive years. 17 mayors from the province and rep- Nedlloyd of the United Kingdom, Pirel- to attract foreign funds. Last year, 25 main focus on the world’s top 500 “We have learned not only technol- resentatives of key Shandong enter- li SPA of Italy and Volvo from . of the world’s top 500 corporations enterprises shows its strong intentions ogy, but also experiment methods, prises that have overseas operations Their projects are mainly located increased their investment in the to upgrade its industries and restruc- manufacturing techniques and, more met a number of entrepreneurs of the in the cities of , , Yantai, province, along with some newcom- ture its economy through the spillover importantly, the standards system world top 500 enterprises and many , and . ers from South Korea, , Israel effects of high and new technologies and quality management concept in other industrialists at the event, and Citizen () Precision Machinery and France.” According to the bureau, and advanced management. which Man takes great pride,” said discussed future cooperation. was set up in 2005 in Zibo, in the cent- two-thirds of the projects funded by Toni Hagelberg, president of Volvo’s Yun Qingtian, chief engineer of the “Shandong is an important birth- er of Shandong. Vice-general Manager foreign companies are in Qingdao, construction equipment company in truck group. place of the Chinese civilization, and Yang Bing said the company expanded Yantai and Jinan, and more than half China, said the company has invested The Shandong governor sees more more than 30 years of development from 11 employees to more than 300 of them are manufacturing industries. $256 million in Jinan since it set up in progress in the province’s future. have seen it grow into a robust eco- over 10 years, and its registered capital Ericsson Chairman Leif Johansson the provincial city in 2010. “Shandong will deepen its involve- nomic engine in China,” Guo said. volume has increased from $1.85 mil- is optimistic about Shandong’s high The company was Volvo’s only ment in international competition “Shandong has some competitive lion to nearly $30 million. and new technology industries. research and development center in and cooperation through the imple- enterprises and expects to strengthen Citizen Watch of closed its He said Shandong has a market full the field in China and serves Volvo’s mentation of China’s Belt and Road strategic and industrial cooperation branch in and upgraded the of vitality and the prospects of bilater- global operations. Initiative, and free trade agreements with corporations at home and abroad, Zibo company to its headquarters in al cooperation between Shandong and The Jinan-based China National between China and South Korea, and especially the world top 500 enter- China in 2011, because of the robust Ericsson are “exciting” as the Shan- Heavy Duty Truck Goup makes its with Australia,” Guo said. Yantai looks to lure more world-leading companies

By TANG ZHIHAO reached $3.5 billion. The production The China-South Korea (Yantai) [email protected] base attracted more than 200 support- Industrial Park went into operation ing companies to Yantai. in 2015. Yantai is one of many cities in Shan- “The presence of these leading “The industrial park is a free dong province seeking to attract more companies not only brings economic trade zone that was jointly built by Fortune 500 companies to build the benefits and capital to Yantai, but also China and South Korea at the sug- region into a foreign trade hub. brings advanced management and gestions of President Xi Jinping and “Yantai has established strong rela- production experience,” Zhang said. President Park Geun-hye. The zone tionships with many world-leading “It will boost awareness of Yantai on will strengthen cooperation between companies. There are almost 100 For- the world stage”. China and South Korea,” Zhang said. tune 500 companies already in Yantai,” Zhang said Yantai would contin- Zhang said many companies said Zhang Yongxia, mayor of Yantai. ue to support key foreign invested showed great interest in investing Loctite was the first Fortune 500 projects launched by companies in the China-South Korea Industrial listed company to set up in Yantai, such as China Resources Co, Heraeus Park. “Many South Korean companies establishing a joint venture named Group and Jurong International in in healthcare, commercial logistics, Henke Loctite China Co with the Yan- the coming years. GM’s production base in Yantai is one of the company’s largest in China. cultural and aged care are keen to run tai Machinery Research Institute in businesses in Yantai. Some existing 1987. Going global 13,500 investment projects, some of regions. The total investment is $3.36 South Korea investors have confirmed Zhang said Yantai has successfully Opening-up has been the key devel- which play a significant role in the billion. The Sino-Russia Tomsk Wood their expansion plans,” she said. attracted 97 Fortune 500 companies opment principle of Yantai in recent country. Trading Cooperation Zone in Russia In 2015, Yantai’s exports to South during the past three decades, includ- years. For instance, ’s largest con- is the second national-level Chinese- Korea were valued at $11.08 billion, ing Mitsubishi, LG, General Motor Figures from the Yantai Bureau of sole production base in the world is in invested trade zone with investment accounting for one-third of those from (GM) and Total. She said those busi- Commerce show that Yantai’s incom- Yantai. Langchao LG Digital Mobile from Shandong companies. Shandong. nesses invested $2.5 billion of foreign ing overseas capital in place reached Communications Co has the largest Yantai has also built many economic Officials said that investment capital in 138 projects. $1.92 billion and total foreign trade CDMA mobile phone manufacturing parks in the city to support its foreign projects initiated by South Korea Foreign companies are mainly volume was $49.39 billion in 2015. base in China located in the city, and trade. companies such as Hyundai Motor engaged in areas such as automotive Yantai contributed 20 percent to the CIMC Raffles has the largest semi- The Yantai Economic and Tech- Co and Hyundai Heavy Industries Co and components manufacturing, ship overall foreign trade volume in Shan- submersible platform manufacturer nological Development Zone ranked are progressing rapidly. building, business services, electronic dong in 2015. in the nation. sixth among 219 national-level eco- The construction of a Sino-South information technology, new energy The latest figures from the Yantai Companies in Yantai have also made nomic zones China in a recent com- Korea New Energy Vehicle Indus- and culture development. government show there are more than breakthroughs in overseas expansion prehensive development evaluation. trial Park, Sino-South Korea Medical Zhang said the GM production 3,000 companies from over 90 coun- in the past few years, during which The trading volume of the Yantai Equipment Industrial Park and South base in Yantai is one of GM’s largest in tries and regions in the city. 274 domestic companies have invested Bonded Zone ranked first among 14 Korea Goods Trading Centers are also China, with total investment having Those companies have brought in in 428 projects in 66 countries and bonded zones in China. advancing well.