Containers are transported at a port in Qingdao, East China's Shandong province, on Jan 12, 2021. [Photo/IC]

The province of Shandong in East China is set to host a business promotional event in Jinan, Tai'an and Jining from April 24 to 26. The event is aimed at boosting ties with Japan and South Korea, both of which are the province's major trade partners and major sources of foreign investment.

Hosted by the Chinese People's Association for Friendship with Foreign Countries and the Shandong Provincial People's Government, the event will be held both online and offline.

According to the organizers, nearly 500 guests will attend the event via offline channels. These guests will comprise senior executives of Japanese and Korean enterprises in China, officers-in-charge of Japan and South Korean government representative offices in China, as well as representatives of economic and trade institutions, media outlets, and Japanese and Korean embassies and consulates in China.

Representatives from Shandong government departments, key industrial parks, companies, universities and think tanks will also take part in the event offline.

The event, which will be broadcasted via live streaming platforms, will have two sub-venues in Japan and South Korea that will see the online participation of nearly 1,000 enterprises.

Shandong serves as a bridgehead for China's cooperation with Japan and South Korea. It is also one of the Chinese provinces with the closest and most convenient exchanges with the two countries.

The trade volume between Shandong and South Korea accounts for nearly one-tenth of the country's total with South Korea, while Shandong's trade with Japan accounts for more than 7 percent of the trade volume between China and Japan.

According to official statistics, there are 5,626 enterprises in Shandong funded by Japanese and South Korean investments amounting to $31.85 billion. These companies employ over 300,000 people.

Shandong has been speeding up the construction of national platforms such as the Comprehensive Pilot Zone for the Transformation of Old and New Growth Drivers, the China (Shandong) Pilot Free Trade Zone and the China-Shanghai Cooperation Organization cooperation demonstration zone, which will bring about numerous opportunities for deepening business ties with South Korea and Japan.