Shandong promotes high-standard opening-up

(| Updated : 2022-04-18

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Shandong province has been ramping up efforts to promote high-standard opening-up, implement a new development philosophy and serve and integrate itself into the new development paradigm.


Vessels bound for the United States are being loaded with cargo at a port in Rongcheng, Shandong province. [Photo by Yang Zhili/For China Daily]

The province has made new progress in institution-oriented opening-up, building platforms for openness and cooperation, and deeply integrating into the construction of the Belt and Road Initiative.

The shortest distance between Shandong and South Korea is less than 200 nautical miles. There are currently nine passenger and cargo lines between the two sides, accounting for more than half of the country's total.

More than 50 passenger and cargo ships travel between Shandong and South Korea every week, forming a "maritime expressway" with "shipping price and air freight speed".

In 2021, Shandong's trade with South Korea totaled 269.55 billion yuan ($40.16 billion), and its trade with Japan reached 182.15 billion yuan.

With the implementation of the Regional Comprehensive Economic Partnership (RCEP) this year, Shandong's trade with Japan and South Korea is expected to maintain a steady trend of making progress, and benefit from tariff concessions and trade facilitation under the RCEP framework.

Shandong has taken 10 concrete measures to ensure unimpeded trade, improve imports and exports, upgrade new forms of foreign trade, and integrate trade industries.

In 2021, the import and export volume of the province reached 2.93 trillion yuan, setting a new record high for six consecutive years. The province's import volume exceeded 1 trillion yuan for the first time, and its trade volume with the top six global markets grew by double digits, creating new breakthroughs in international economic and trade cooperation.