中文
Qingdao, Japan enjoy close ties
chinadaily.com.cn | Updated:2020-11-11 21:20:00    

The coastal city of Qingdao, Shandong province enjoys close economic cooperation and frequent personnel exchanges with Japan, according to local authorities.

Officials say that Japan was one of Qingdao's first economic and trade partners after China began reforming and opening up. The city's first foreign-invested enterprise, first foreign-invested bank, first international flight, and first sister city were all linked to Japan.

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The eastern coastal city of Qingdao enjoys close economic cooperation and frequent personnel exchanges with Japan. [Photo provided to chinadaily.com.cn]

Japan is also Qingdao's third largest source of foreign investment and third largest trading partner.

By the end of August this year, Japan had invested in 2,162 projects in Qingdao, with its contractual foreign investment valued at $6.29 billion, and its actually received foreign investment valued at $5.98 billion.

From January to August, Japan invested in 22 projects in Qingdao, with contractual foreign capital valued at $132 million, up 121.27 percent year-on-year.

Imports and exports between Qingdao and Japan were valued at $7.64 billion in 2019, up 2.1 percent year-on-year. In the first eight months of this year, the total value of trade between the two sides was $4.97 billion, up 0.3 percent.

By the end of August, Qingdao had invested in 96 projects in Japan, with total Chinese investment in the country valued at $113 million.