Cooperation with leading German commercial vehicle maker MAN allows Sinotruk to produce trucks that meet European standards. [Photo by Wang Qian/China Daily]

Jinan, capital of East China's Shandong province, is further opening up to the outside world and becoming an investment hotspot for Fortune Global 500 companies and transnational corporations.

To date, the city has 129 projects invested by 81 Fortune Global 500 companies from 15 countries and regions.

In 2019, the city's foreign capital utilization maintained steady growth despite the global economic slowdown. The city's actual foreign capital utilization exceeded $2.5 billion in 2019.

For several years, foreign investment has played an active role in Jinan's economic development, as well as promoted its foreign trade, technological advancement, and industrial upgrading.

The Jinan-based China National Heavy Duty Truck Group, also known as Sinotruk, established a long-term strategic partnership with German commercial vehicle manufacturer MAN in 2009, aiming to upgrade its technologies.

The partnership allows Sinotruk to produce trucks that meet European standards and enhance its competitiveness in the global markets.

Later, Fortune Global 500 companies such as Bosch, Continental AG and KION Group, as well as well-known transnational corporations such as MANN+HUMMEL Group in Germany and SKF Group a bearing maker in Sweden began to invest in Jinan, forming an automobile manufacturing and parts industry cluster.

A group of world-leading manufacturing enterprises have begun cooperating with local companies, greatly improving the technological level of Jinan's equipment manufacturing industry.

Since 2017, the city has held three high-level conferences for multinational corporations, attracting foreign projects invested by multinational corporations such as German software giant SAP and Bosch Mahle. A total of five China-Germany SME cooperation and exchange conferences have been held, with 94 projects signed.

Jinan has made efforts to create a fairer and more convenient investment environment for foreign enterprises by providing high-quality and efficient services.