The actual use of foreign capital accounted for 12.2% of the national total, an increase of 1.6 percentage points from the previous year.

Shandong’s actual use of foreign capital in manufacturing industry grew rapidly in 2020. A total of 568 foreign-invested manufacturing enterprises were newly established throughout the year, an increase of 7.8% year-on-year. The actual use of foreign capital was $3.78 billion, an increase of 11% year-on-year. The actual use of foreign capital in pharmaceutical manufacturing industry reached $450 million, an increase of 140%. The actual use of foreign capital in automobile manufacturing industry, computer communications and electronic equipment manufacturing industry, non-metallic mineral production industry, and metal production industry increased by 90.5%, 27.7%, 147.2% and 64.8% respectively.

Shandong’s actual use of foreign capital in service industry has been improving in quality. A total of 2,313 foreign-invested service enterprises were newly established in Shandong throughout the year. The actual use of foreign capital was $12.44 billion, a year-on-year increase of 26.1%. The actual use of foreign capital in modern service industries such as the transformation of scientific and technological achievements, information services, professional technical services, research & development and design services increased by 146.7%, 91.7%, 225% and 17.6% respectively.

In 2020, foreign investments from Shandong’s major sources developed steadily. Investment in Shandong from South Korea and Japan increased significantly by 136.4% and 115.7% respectively. Investment from Hong Kong, Singapore, the United States, Taiwan, and Australia increased by 22.8%, 35.8%, 4.1%, 15.9% and 41.5% respectively.