Investing in Shandong
Shandong is a coastal province located in Eastern China. An illustrious hub for the maritime economy and one of the largest producers of agricultural, livestock, and fisheries goods. Shandong province is also known as the most important production center for light and heavy industry in China. Jinan is the capital and the second-largest city in Shandong province after Qingdao. The Province of Shandong ranks as China's second most populous with a population of 100.7 million inhabitants covering a total surface area of 157,100 km2.
Shandong province accomplished 30,733 foreign investment companies with a total export of USD 161.5 billion and a total import of USD 134.8 billion. In addition to an average urban salary of USD 11,122.
In terms of GDP, the Province of Shandong ranked third in China after Jiangsu province, reaching USD 1,126 billion in 2020 and USD 1,021 billion in 2019 with a GDP per capita of USD 10,138. Along with GDP growth of +5.5% in 2019 and +3.6% in 2020.
Main Economic Centers (GDP) in Shandong
• Qingdao (USD 169 billion)
• Jinan (USD 136 billion)
• Yantai (USD 110 billion)
• Weifang (USD 82 billion)
• Linyi (USD 66 billion)
Main Sectors in Shandong
• Automotive
• Domestic appliances
• Petrochemical
• Industrial machinery
Main Industrial Areas in Shandong
• Shandong Pilot Free Trade Zone
• Qingdao Economic and Technological Development Zone
• Jiaozhou Economic and Technological Development Zone
• Dongying Economic and Technological Development Zone
• Yantai Economic and Technological Development Zone
• Weihai Economic and Technological Development Zone
• Dezhou Economic and Technological Development Zone
• Liaocheng Economic and Technological Development Zone
• Jinan High-tech Industrial Development Zone
• Qingdao High-tech Industrial Development Zone
• Yantai High-tech Industrial Development Zone
• Weifang High-tech Industrial Development Zone
• Weihai High-tech Industrial Development Zone
• Jinan Comprehensive Bonded Zone
(Shandong) Pilot Free Trade Zone
Established in 2019 known as a major hub for trading with Japan and South Korea.
Creating a strategic location to increase international trade and cooperation between China, Japan, and South Korea.
The target industries are marine and maritime, financial services, artificial intelligence, medical and health care, information technology, logistics, shipping, high-end manufacturing. Besides, the functional areas include Qingdao area (52.0 sq. km), Jilin area (38.0 sq. km), and Yantai area (30.0 sq. km).