Shandong province has been strengthening cooperation with multinational companies and comprehensively enhancing its level of openness to the outside world.  

As one of the signed projects of the third Qingdao Multinationals Summit in 2022, the high-end, foreign-funded dairy processing plant of Zhongdi Dairy Group in Shandong's Yinan county has a total investment of 1.83 billion yuan ($257 million). The first phase, with an investment of 1.13 billion yuan, is focused on high-end dairy processing, aiming to create a modern enterprise integrating production, processing, visitation, and experience. With the construction of the project being completed and the equipment being installed, trial operations are expected to begin by the end of this year.

In recent years, many large projects by companies such as ZF Friedrichshafen AG, Tyson Foods, Asia Symbol, Saudi Aramco, and Orix Corporation have been established in Shandong.

As of now, 236 Fortune Global 500 companies have invested in 934 projects in Shandong. In the first half of this year, the actual use of foreign capital in the province ranked fourth nationwide, with its share of the national total rising to 11.6 percent, reflecting simultaneous improvements in quality and structure.

From May 26 to 30, the 2024 Hong Kong-Macao-Shandong Week was held, during which 148 cooperative projects were signed, including 69 foreign investment projects, with a total investment of $10.27 billion and contracted foreign investment of $3.68 billion. These projects cover areas such as the digital economy, energy transition, intelligent manufacturing, modern agriculture, and cultural tourism.