Shandong fosters an open economy

(| Updated : 2021-03-18

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Shandong province has been working to further open up, foster a market-oriented, law-based, and international business environment, and develop a more open economy in recent years.


A container ship docks in Qingdao Port, Shandong province. [Photo by Zhang Jingang/for China Daily]

"The friendly and convenient business environment for foreign enterprises has strengthened Delphi Technologies' confidence in expanding investment in Shandong," said Tian Feng, a senior manager at the Fortune 500 company.

"Amid the pandemic, the local government launched a series of supporting measures to help us resume production and strengthen epidemic prevention and control," said Tian.

Delphi Technologies will build its Asia Pacific R&D Center in the coastal city of Yantai, Shandong province, as it has invested in projects involving electronic systems, air conditioning systems, and the diesel common rail system in the city.

The new R&D center is expected to attract about 300 top professionals in the field of auto parts to Yantai, according to Tian.

Shandong has launched a slew of measures to promote system reform in order to offer better talent and investment services to foreign-invested companies.

It has also established a system for provincial officials to communicate with key foreign trade and foreign-funded enterprises and help them solve problems.

In addition, more than 500 service teams have been established in Shandong to provide targeted services to over 3,300 foreign trade enterprises.

The province has also released a list of 29 green channel services for high-level talents.

In the coming five years, Shandong plans to launch more measures focusing on building a China-Japan-ROK local economic and trade cooperation demonstration zone, fostering platforms for higher-level opening up, and boosting trade, said local officials.