Shandong encourages more projects with Fortune 500 companies

East China's Shandong province aims to develop 100 projects within the following three years by cooperating with Fortune 500 companies, a senior official of the province's commerce bureau said Tuesday.

"The 100 projects are set to be in 10 sectors -- information technology, high-end equipment manufacturing, new energy and new materials, the ocean economy, healthcare, high-end chemical manufacturing, modern agriculture, culture and creative endeavors, quality tourism and modern financial industries," said Zhang Weike, deputy head of the Shandong commerce bureau.

"A wide range of entities including enterprises, industrial parks, universities and scientific research organizations are encouraged to build cooperation with Fortune 500 companies. Cooperation can touch aspects such as capital, human resources, management, brand and market channels," he said.

Shandong has more than 3,000 kilometers of coastline, accounting for one-sixth of China's total coastline. The province is known for its abundant natural, cultural and economic resources. It is the birthplace of Confucius and the place where Taishan Mountain is located.

Since Henkel Loctite set up its branch in Yantai in 1987, the Shandong government has approved 723 projects funded by 213 Fortune 500 companies.

The province also plans to build 200 projects with leading enterprises from a wide range of industries around the world.