Shandong province hosted a key equipment manufacturing project promotion conference on Nov 3.

At the event, fourteen projects in the high-end equipment manufacturing industry were put into operation, started construction or had agreements signed, involving a total fixed asset investment of about 51.5 billion yuan ($7.04 billion). There projects are expected to increase annual revenue by 117.6 billion yuan after they begin operating at full capacity.

Shandong Heavy Industry Group and Bosch Group sign a strategic cooperation agreement. [Photo provided to chinadaily.com.cn]

Shandong Heavy Industry Group, headquartered in Jinan, is one of China's leading multinational industrial equipment groups and has significant global influence. It signed a strategic cooperation agreement with Bosch Group on future scientific and technological innovation in the new energy industrial chain.

The two sides will expand cooperation in new energy, high thermal efficiency diesel engines, intelligent transportation and other fields, overcome more key core technologies, solve global problems, and jointly contribute to the development of the global industry.

Stefan Hartung, chairman of the board of management of Bosch Group, said that Bosch will work with Shandong Heavy Industry Group to provide more efficient, greener and smarter solutions for the transportation sector, which will also promote the development of China's industry and economy and advance global science and technology.

Tan Xuguang, president of Shandong Heavy Industry Group, delivers a speech at the event. [Photo provided to chinadaily.com.cn]

Shandong Heavy Industry Group signed a strategic cooperation agreement on financial support for exports with Orix Group of Japan. It signed a local manufacturing strategic cooperation agreement with Truong Hai Group from Vietnam.

It also signed the Weichai Power air purification industrial chain strategic cooperation agreement with BASF, Corning and Tenneco.

According to Shandong officials, Shandong shoulders the important mission of developing a powerful modern equipment manufacturing industry, which is one of the "top 10" industries in the province to replace old economic growth drivers with new ones and play a crucial role in regional high-quality development.

Government officials and company representatives attend the key equipment manufacturing projects promotion conference in Shandong province. [Photo provided to chinadaily.com.cn]