According to the Department of Commerce of Shandong Province, in the first ten months of this year, 2,260 foreign-invested enterprises were newly established in Shandong, a year-on-year increase of 20.3%. The actual use of foreign capital was $12.62 billion, an increase of 30.2%, 26.3 percentage points higher than the national growth rate.
High-tech industries in Shandong continued to demonstrate a growing capacity to absorb foreign capital. In the first ten months, 484 high-tech industrial enterprises were newly established in Shandong, an increase of 46.2% year-on-year; the actual use of foreign capital was $2.23 billion, an increase of 60.8%.
The actual use of foreign capital in the high-tech manufacturing industry was $680 million, a year-on-year increase of 14.4%; among which $350 million was used by medical manufacturing industry, an increase of 146%.
The actual use of foreign capital in high-tech service industry was $1.56 billion, an increase of 95.1%; among which scientific and technological achievements transformation services, information services, and professional technical services used $810 million, $440 million, and $88.44 million respectively, an increase of 159%, 187%, and 328.3%.
Foreign investment in Shandong from major sources, such as Hong Kong, Singapore, South Korea, the United States, the Netherlands, and Japan have grown rapidly. The actual investment from Hong Kong was $9.93 billion, a year-on-year increase of 42.1%. The actual investment from Singapore, the United States, the Netherlands, and Japan increased by 128%, 30.5%, 14.5%, and 73.7% respectively.