Shandong province released its three-year action plan (2018-20) on July 2018 for deepening its cooperation with Global 500 and industrial leading companies.
The action plan aims to promote the sound and rapid development of its 10 industries – new-generation information technology, high-end equipment manufacturing, new energy and new material, healthcare and maritime industries, modern agriculture, tourism, modern finance, cultural creative and green chemical industries – to help create preponderant industrial clusters in the area, accelerate the province's conversion of old and new kinetic energy and advance its opening-up to a higher level.
It is expected that each of the above ten industries signs up 10 cooperation projects with Global 500 companies and 20 ones with industrial leading enterprises during the three years from 2018 to 2020.
To achieve its goals, Shandong has been accelerating the establishment of the province's pilot zone for new and old kinetic energy conversion, improving its business environment for foreign investment, and strengthening its financial supports.
This action plan is the second one issued by the Shandong government for deepening its cooperation with Global 500 and industrial leading companies, with the first one released in 2015.
From 2015 to 2017, Shandong signed 234 projects with Global 500 companies, with the total foreign investment reaching 31.14 billion US dollars and of which 177 projects have been implemented.