From January to October this year, the foreign direct investment (FDI) in Shandong totaled $18.1 billion, up 43.5 percent year-on-year, 20.1 percentage points higher than the national growth rate, according to statistics from the Shandong Provincial Department of Commerce.

Containers are loaded onto a ship berthed at Qingdao port, Shandong province. [Photo by Zhang Jingang/For China Daily]

In October, the province's FDI reached $1.84 billion, equaling that of the same period last year and 44.9 percent higher than the same period in 2019. The two-year average growth was 20.4 percent.

The actual utilization of foreign investment in the province's manufacturing sector reached $5.15 billion, up 107.3 percent year-on-year, among which high-tech manufacturing utilized $1 billion, up 48.5 percent year-on-year.

The service industry's actual utilization of FDI was $11.35 billion, up 22.2 percent year-on-year. The high-tech service industry utilized $2.25 billion in FDI, up 44.4 percent year-on-year.

Investment from major sources of investment grew steadily during this period. Actual investment from China's Hong Kong reached $14.14 billion, up 42.4 percent year-on-year. Singapore invested $1.28 billion in Shandong, up 70.3 percent. Japan and South Korea invested $1 billion, up 73.4 percent. Actual investment from RCEP countries reached $2.39 billion, up 65.1 percent year-on-year.