[Photo provided to chinadaily.com.cn]

The ASEAN special of the "Connecting Shandong with Fortune Global 500" series events will be held on Sept 22 in Jinan, Shandong province via online and offline channels.

This will be the second event of the series, which is organized by the CPC Shandong Provincial Committee and the Shandong Provincial People's Government to deepen cooperation between Shandong and multinational companies.

The main venue for the event is located in Jinan. There will also be sub-venues located in all the 16 cities of Shandong province.

The coastal city of Qingdao in Shandon province, with strong economic growth and mature investment environment, has become a magnet for multinational coporations. [Photo provided to chinadaily.com.cn]

According to the organizers, representatives of ASEAN's Fortune 500 and other well-known multinational companies, government agencies, consulting agencies and leaders of Chinese embassies and consulates in ASEAN will attend the event and deliver speeches via online channels.

This year marks the 10th anniversary of the China-ASEAN Free Trade Area, the first such initiative for ASEAN. This year is also the year of China-ASEAN digital economy cooperation which sees the two sides strengthening collaboration in digital disease control, smart cities, 5G, big data and artificial intelligence.

Shandong and ASEAN countries have maintained close ties in many aspects, said local officials, adding that ASEAN has become Shandong's largest trading partner and export market.

The Silk Road High-Tech Park Alliance is established in Yantai, Shandong province in July, 2016. [Photo provided to chinadaily.com.cn]

Despite the global downturn, Shandong-ASEAN economic and trade cooperation has witnessed growth and contributed to the recovery of the regional economy. In the first half of this year, imports and exports between the two sides were valued at 123.47 billion yuan ($18.19 billion), up 16 percent year-on-year.

During this period, there were 63 newly approved investment projects by ASEAN enterprises in Shandong, with paid-in foreign capital reaching $340 million, up 96.5 percent year-on-year.

ASEAN is the top investment destination for Shandong enterprises, which have invested in all 10 ASEAN member countries. According to official statistics, ASEAN has received $870 million in investments from Shandong, about a quarter of the province's total overseas investments.