Foreign investment in Shandong up 73.7%

Shandong province reported a 73.7% year-on-year increase in actual foreign investment in the first quarter of 2004. Shandong used US$2.27 billion of foreign investment in the first quarter. Contractual investment in the first quarter rose 59% over the same period the previous year, reaching US$3.2 billion. South Korea remained the largest foreign investor in Shandong, accounting for 529 investment projects with actual and contractual investment of US$760 million and US$1.19 billion, respectively.