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Qingdao signs 7 key projects worth $650 million online

(chinadaily.com.cn) | 2020-05-12

The eastern coastal city of Qingdao, Shandong province signed seven key projects worth a total investment of $650 million during an online video conference regarding foreign-funded projects on May 11.

The signed projects include high-end intelligent equipment manufacturing, modern logistics, business services, health care and more, said local officials.

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Qingdao signs seven key projects with a total investment of $650 million during an online video conference regarding foreign-funded projects on May 11. [Photo/qingdaonews.com]

Meng Fanli, mayor of Qingdao, said that the projects will play a vital role in promoting high-quality development and fostering new growth drivers.

Meng added that the local government will continue to provide quality services and create a sound business environment to attract more entrepreneurs and investment.

The coastal city has been promoting business and cooperation opportunities while continuing its fight against the epidemic. According to statistics from the Qingdao municipal bureau of commerce, the city's actual use of foreign capital hit 10.14 billion yuan ($1.43 billion) in the first quarter of 2020, a 0.3 percent year-on year increase, accounting for 46 percent of the total in Shandong province and 4.6 percent of that of the entire country.

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The urban landscape of Qingdao, Shandong province [Photo/WeChat account: qdfbwx]