Foreign direct investment (FDI) into Shandong province in actual use rose 59.5 percent year-on-year to $14.38 billion in the first eight months of the year, the Shandong Provincial Department of Commerce recently announced.

In August, the actual use of foreign investment in the province reached $1.85 billion, up 17.1 percent year-on-year, and up 153.4 percent from the same period in 2019, with a two-year average growth of 59.2 percent.  

The province's structure of actual use in foreign capital was further improved as well. Actual utilized foreign investment in the manufacturing sector reached $3.95 billion, up 116.3 percent year-on-year, among which high-tech manufacturing actually utilized $790 million, up 31.2 percent year-on-year.

Actually utilized foreign investment in the service industry stood at $9.13 billion, up 40.7 percent year-on-year. Foreign investment in actual use in the high-tech service industry hit $1.96 billion, up 98.6 percent year-on-year.

The province's major sources of investment grew steadily as well. Hong Kong invested $11.44 billion in Shandong, up 65.1 percent year-on-year, Singapore invested $1.13 billion, up 96.3 percent year-on-year, and Japan and South Korea invested $710 million, up 137.2 percent year-on-year.