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Qingdao Uses More Overseas Investments
Qingdao, a coastal city in east China's Shandong Province, introduced nearly 1.39 billion US dollars of contractual overseas investment during the first half of this year, a 68.5 percent rise on a yearly basis.
The city ratified the establishment of 487 overseas-funded projects from January to June this year, up 62.1 percent on the 1999 figure.
The city did 2.7 billion US dollars worth of exports during the six-month period, up 35.7 percent.
Qingdao enjoys a favorable economic and trade performance during the first half of this year, said vice-mayor Zhou Jiabin, adding that Qingdao is promoting economic and social developments in line with international practices and standards, in a bid to become a major economic generator in China.
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