Shandong to be more open to foreign firms

(| Updated : 2020-08-24

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In recent years, Shandong has taken a series of measures to create a more open and attractive investment environment to attract high-quality projects.

The province has been ramping up efforts to promote the "At Most One Visit" reform to streamline administrative procedures, so that companies and individuals do not need to visit multiple different places to handle administrative procedures.

Officers from administrative centers are also often stationed in-house at enterprises and industrial parks to further increase the efficiency of administrative services.

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The Shandong Government Affairs Service Center [Photo provided to]

Shandong has also established a "service ambassador" system to offer one-on-one services to foreign-invested enterprises.

In addition, in the past two years, a number of national strategies have brought about massive development opportunities for foreign investors looking to start businesses in Shandong.

Shandong is playing a significant role in China's economic development. In January 2018, the province became the first comprehensive pilot zone in China for replacing old economic growth drivers with new ones, giving foreign investors an opportunity to develop the new economy in Shandong.

The China (Shandong) Pilot Free Trade Zone unveiled on Aug 30, 2019 provides preferential policies for foreign investors looking to start businesses and reduces their operating costs.

The overall plan for the construction of the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao was passed during the ninth meeting of the Central Committee for Deepening Overall Reform on July 24, 2019.

The China-SCO demonstration zone was designed as a platform for improving international cooperation under the Belt and Road Initiative and developing cooperation in logistics, trade, investment, tourism and culture, resulting in many opportunities for business expansion.