Decade of opening up boosts Jinan's growth

(| Updated : 2022-10-13

Print Print

Jinan, capital of East China's Shandong province, saw robust development in foreign trade over the past decade, with the expansion of high-level opening up platforms such as the Jinan Area of the China (Shandong) Pilot Free Trade Zone, Jinan's comprehensive bonded areas and a comprehensive pilot area for cross-border e-commerce.

Statistics show that the city's imports and exports increased at an average annual rate of 11.5 percent over the past 10 years, with a value of 194.42 billion yuan ($27.12 billion) in 2021. The actual utilization of foreign capital grew at an average annual rate of 7.1 percent and 11 Fortune Global 500 companies set up operations in Jinan, demonstrating a wider opening-up during the 2012-21 period.


The 600th Qilu China-Europe freight train departs from Jinan on Nov 9, 2021. [Photo/Iqilu News]

The rapid development of "Qilu" China-Europe freight trains in Jinan has contributed to the huge growth in the city's foreign trade. Jinan launched its first China-Europe freight train in 2017, opening a new channel for foreign trade in Jinan and its surrounding areas.

By the end of 2021, the freight trains that departed from Jinan for Europe and Central Asia had made 1,343 trips, maintaining a growth rate of over 150 percent for three consecutive years. The number of China-Europe freight train routes in the city stood at 12 at the end of 2021. These routes connect to 46 cities in 19 countries.

Over the past decade, Jinan has been striving to expand its international logistics channels, creating a more open environment. The city has actively integrated into the Belt and Road Initiative and seized the opportunities brought by the Regional Comprehensive Economic Partnership (RCEP) to strengthen relations with foreign countries and international organizations. The Jinan Yaoqiang International Airport currently has opened 186 routes, linking 100 cities at home and abroad, deepening relations with outside world.