The ASEAN-China (Shandong) SME Conference for Cooperation and Development opened on May 28 in Jinan, capital of Shandong province.

Hosted by the Shandong Provincial People's Government and the ASEAN-China Center, the two-day event is subtitled "Opportunities and prospects: ASEAN-China SME cooperation and development in the context of RECP".

The ASEAN-China (Shandong) SME Conference for Cooperation and Development opens on May 28 in Jinan, capital of Shandong province. [Photo provided to chinadaily.com.cn]

A total of 200 representatives, including government officials, ASEAN diplomatic envoys in China, representatives of ASEAN enterprises and economic and trade institutions, physically attended the event.

In addition, five sub-venues have been set up in ASEAN countries, with about 1,200 small and medium-sized enterprises participating online.

After the opening ceremony, the China-ASEAN trade and investment promotion meeting was held, during which the commercial counselors from Cambodia, Laos, Malaysia, Philippines, Thailand, Vietnam, and Indonesia in China introduced their investment policies, while representatives from Shandong institutes also gave promotional presentations.

The memorandum of understanding between the Dezhou municipal government and the ASEAN-China Center on enhancing two-way exchanges was signed during the event.

Agreements for a total of 19 projects, which will receive more than 27 billion yuan ($4.24 billion) in investment, are signed. [Photo provided to chinadaily.com.cn]

Agreements for a total of 19 projects, which will receive more than 27 billion yuan ($4.24 billion) in investment, were also signed. They involve foreign trade, investment cooperation, financial support, and more.

ASEAN countries have always been important international partners for Shandong. The two sides enjoy a cultural affinity and amity between people. Exchanges between them date back to ancient times and cooperation in economics, trade, culture, and other fields is strengthening.

So far, two ASEAN countries, Thailand and Cambodia, have set up consulates general in Qingdao and Jinan, respectively.

The ASEAN-Shandong (Dezhou) SME Alliance is launched during the event. [Photo provided to chinadaily.com.cn]

According to official statistics, ASEAN is the largest trading partner and export market for Shandong. In 2020, total imports and exports between Shandong and ASEAN were valued at 300.68 billion yuan, with a year-on-year growth of 24.4 percent. In the first quarter of this year, trade between Shandong and ASEAN was 84.43 billion yuan, a year-on-year increase of 45.1 percent.

To date, 661 ASEAN enterprises have invested around $18.72 billion in Shandong, while 731 Shandong enterprises have invested $15.64 billion to set up factories in ASEAN countries.

Shandong has established sister city relations with 10 ASEAN cities and cooperative relations with 21 local governments in ASEAN.

The Shandong Research Center on ASEAN is unveiled at the event. [Photo provided to chinadaily.com.cn]