Shandong’s actual use of foreign capital increases by 35.5% in the first eleven months of 2020

According to the Department of Commerce of Shandong Province, in the first eleven months of this year, 2,645 foreign-invested enterprises were newly established in Shandong, a year-on-year increase of 22.6%. The actual use of foreign capital was $15.21 billion, an increase of 35.5%, 31.4 percentage points higher than the national growth rate.

Statistics indicate that high-tech industries in Shandong continued to demonstrate a growing capacity to absorb foreign capital. In the first eleven months, 559 high-tech industrial enterprises were newly established in Shandong, an increase of 43.7% year-on-year; the actual use of foreign capital was $2.93 billion, an increase of 93.9%, 33.1 percentage points higher than the increase rate of the first ten months.

The actual use of foreign capital was $690 million in high-tech manufacturing industry, an increase of 18.4%, and $2.24 billion in high-tech service industry, an increase of 141.8%.

Foreign investments in Shandong from major sources have grown rapidly. South Korea’s actual investment was $610 million, a year-on-year increase of 34%, turning from negative to positive. Japan’s actual investment was $240 million, an increase of 106.7%, the biggest increase among the top ten sources of foreign investment. The actual investment from RCEP countries was $1.87 billion, a year-on-year increase of 59.5%, accounting for 12.3% of the province's actual use of foreign capital, an increase of 1.9 percentage points from the same period last year.