Jining home to 53 Fortune 500 companies

(chinadaily.com.cn )| Updated : 2020-08-26

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Jining in East China's Shandong province currently is home to 53 Fortune Global 500 companies, according to Jining's commerce authority.

As of August of this year, the city had attracted 53 Fortune 500 companies from 15 countries investing 96 foreign-invested projects in the city.

Statistics showed that total investment in these projects was $10.1 billion, with registered capital reaching $3.65 billion, contracted foreign capital $2.82 billion, and cumulative foreign capital $2.77 billion, accounting for 30 percent of the city's total utilized foreign capital.


The city of Jining, Shandong province [Photo/dzng.com]

Nearly 40 percent of these projects had an investment of more than $50 million, including 21 projects with an investment exceeding $100 million, accounting for 22.8 percent, and 15 with investment ranging from $50 million to $100 million, accounting for 16.3 percent.

The main overseas investors included 17 from the United States, five from Germany, two from France, and two from Italy. There are also 17 Japanese-funded companies and 17 China's Hong Kong-invested enterprises in the city.

Most of the Fortune 500 companies focus on the secondary industry. Nearly half of foreign-funded enterprises are engaged in manufacturing.

Most investment goes to high-end manufacturing industries such as high-end paper, automobile tires, construction machinery and auto parts, agricultural machinery, fine chemicals, textiles and clothing, wind and solar power generation, and strategic emerging industries, as well as modern service industries such as port, urban infrastructure and information technology.

Thanks to its investment attraction strategy and advantages in culture, natural resources and industrial foundation since China's reform and opening-up, Jining has brought in a group of industry leaders and strategic investors from across the globe.