Shandong
Foreign trade in Shandong continues to grow
Updated: 2010-06-18 17:03
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Foreign trade in Shandong is maintaining the growth it saw in May, with its import and export volume standing at $15.06 billion, a year-on-year increase of 41.1 percent, according to statistics released by the Shandong Commercial Bureau.
Of the import and export volume registered in May, import trade totalled at $6.44 billion, with an increase 36 percent and export trade clocked in at $8.62 billion, an increase of 45.1 percent.
As for exports, the mechanical-and-electrical products and hi-tech products increased 44.9 percent and 61.9 percent, respectively, while textile products and agricultural products registered an increase of 33.9 percent and 27.8 percent, respectively.
These products are mainly sold to America, Korea, the European Union, Japan and the new emerging markets in Russia, South America, Taiwan, Southeast Asia, Africa and Oceania.
The outbound investment from Shandong also has also seen some growth, with 36 Shandong-based enterprises approved to establish facilities outside China mainland, a year-on-year increase of 44 percent.
While encouraging Shandong-based enterprises to join the overseas markets, Shandong is attracting business from overseas, with 113 overseas projects already approved to settle in Shandong in May. These newly approved projects pledge a combined investment of $750 million, of which $590 million has already been put to use.
By Zhao Ruixue (China Daily Shandong Bureau)
Editor: Li Jing