The city of Weihai, Shandong province served as sub-venue for the Japan session of the "Connecting Shandong with Fortune Global 500" event, which was held on Nov 10 in Jinan, the provincial capital.

Weihai officials and representatives from Japanese companies based in the city attended the event via online channels and witnessed the signing of a cooperation agreement between an aquatic product company from Weihai and a Japanese counterpart to develop a marine food production project.

Weihai officials and representatives from Japanese companies based in the city attend the Japan session of the "Connecting Shandong with Fortune Global 500" event via online channels on Nov 10. [Photo/iqilu.com]

The $22 million project will involve the production and sales of high-end flavoring products made with bonito, mushroom and kelp.

In recent years, Weihai has maintained close cooperation with Japan in many fields such as cross-border e-commerce and service trade. More than 120 Japanese enterprises have invested in Weihai, and more than 1,270 enterprises in Weihai have trade relations with Japan.

Official data shows that in the first eight months of this year, imports and exports between Weihai and Japan totaled 10.52 billion yuan ($1.58 billion), up 9.6 percent year-on-year.