Close economic ties impetus to growth

Shandong province cooperates closely with Hong Kong, one of its most significant economic partners.

Statistics from the Shandong provincial department of commerce show that last year the province approved 455 Hong Kong-funded projects, a year-on-year increase of 21.3 percent, whilst capital employed stood at $3.86 billion, up by 3.9 percent.

By the end of 2009, the number of HK-backed projects in Shandong had reached 15,011, representing $50.76 billion in contractual investment and $26.7 billion in used capital, making Hong Kong the largest overseas investor for the province.