Recently, the Dialogue between Shandong and Multinationals—Deepening Cooperation in High-end Equipment Industry kicked off in Beijing. The event attracted representatives from headquarters-based, R&D-oriented and high-end manufacturing-focused foreign enterprises to attend and conduct in-depth exchanges on future cooperation.

At the event, the Department of Industry and Information Technology of Shandong Province introduced the development progress of the high-end equipment industry, especially in Qingdao, Yantai, Weifang and Jining cities. Representatives from 16 multinationals including Bekaert, Siemens, Caterpillar Inc. and HP participated in the event, at which they introduced their company and cooperation suggestions, and engaged in thorough discussions on future cooperation. Three key high-end equipment projects were signed during the event, with a total investment of USD 320 million and contractual foreign capital of USD 25 million.

Since last year, Shandong has been actively promoting the transformation of industries towards high-end, intelligent, green, and clustered manufacturing, focusing on fostering new quality productive forces. There were over 10,000 equipment manufacturing enterprises above designated size in the province in 2023. The operating revenue reached RMB 2.76 trillion, accounting for 24.3% of the industries above the designated size, with nearly 50% contribution from high-end equipment manufacturing. As a result, Shandong remained at the forefront of industrial development nationwide.