The Qingdao municipal government signed a memorandum of understanding on strategic cooperation with ORIX Corporation on Nov 6 in Shanghai.

ORIX Corporation is a Tokyo-based financial conglomerate. It offers a broad range of financial services worldwide.

The urban landscape of Qingdao, Shandong province [Photo/VCG]

According to the memorandum, the two sides will carry out cooperation in many fields such as cultural tourism, environmental protection, new energy, finance, and medical care.

Qingdao will continue to optimize its local business environment to provide convenience and support for ORIX to carry out business in the city, local authorities said.

ORIX will give full play to its professional experience, financial resources and other advantages to facilitate economic and trade exchanges between Qingdao and Japan and fuel the development of the Qingdao Area of China (Shandong) Pilot Free Trade Zone (FTZ).

ORIX (China) Investment Co, which has its Chinese headquarters in Dalian, also signed a cooperation framework agreement with the Qingdao Area of the Shandong FTZ to carry out cooperation in such areas as financial leasing, environmental protection and healthcare.