Shandong reports rise in use of foreign investment, trade

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Last updated at: (Beijing Time) Thursday, January 15, 2004

Shandong reports rise in use of foreign investment, trade

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East China's Shandong Province actually used a record 11.03 billion US dollars of overseas investment in 2003, a 69.2 percent rise from a year ago, accordingto the local foreign trade and cooperation department.

The province conducted 44.68 billion dollars of imports and exports in 2003, up 31.6 percent year-on-year, including 26.59 billion dollars in exports, up 25.9 percent.

Shandong has sent abroad local workers and professionals to work in more than 100 countries and regions.

Japan remains Shandong's largest trade partner and accounts forone-fourth of overseas investment in Shandong.

Shandong is now home to 8,586 enterprises funded by the Republic of Korea, which account for 24.2 percent of overseas-funded companies in Shandong.

The ROK has kept its position for two years as the largest overseas investor in Shandong.

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