Jinan sees steady growth in foreign investment attraction

Jinan, capital city of East China's Shandong province, saw a steady growth in its foreign capital utilization in 2019, local media recently reported.

Accordingly, the compound growth rate of actual foreign capital utilization in Jinan was 17.79 percent for three consecutive years.

In 2019, the city's foreign capital utilization still maintained steady growth despite the slowdown of the global economy.

Specifically, the city added 202 foreign-invested projects from January to November of 2019 with the contractual foreign investment of $6.2 billion, a year-on-year growth of 17.03 percent. The city's actual foreign capital utilization increased by 15.29 percent to $1.78 billion.

A total of 26 projects from Fortune Global 500 companies were launched in Jinan including those by German software giant SAP, Korea Electric Power Corporation, and French media company Lagardere Group.

For several years, foreign investment has played an active role in Jinan's economic development, as well as promoted its foreign trade, technological progress, and industrial upgrading.

Jinan's capital market also provides a wide range of opportunities for foreign companies.

The city has rolled out 10 measures aiming to make better use of foreign investment, with foreign-invested enterprises having the chance to be awarded up to 10 million yuan ($1.42 million).

By providing a fairer and more convenient investment environment, the government hopes to attract more investment from foreign enterprises.