A ro-ro ship for commercial vehicles docks at Yantai Port in Shandong, with a large number due for consignment abroad. [Photo/Dazhong Daily]

East China's Shandong province is stepping up its efforts to build a new high-level open economy – with the focus on stabilizing foreign trade and investment, as well as enhancing the development of its various opening-up platforms.

From the Qingdao Multinationals Summit to the recent 2025 Hong Kong-Macao-Shandong Week, the province has signaled that it is determined to embrace openness – seeking vitality, potential and momentum to build itself as a new highland for high-level opening up.

Shandong has offered support to local business enterprises in their bid to establish a global presence. It is helping Yantai Xutai New Energy Technology Co Ltd, a high-tech firm specializing in solar photovoltaic lighting, expand market access in countries and regions involved in the Belt and Road Initiative or BRI. As a result, the manufacturer has seen its exports to countries along the Belt and Road Initiative or BRI top 20 million yuan ($2.78 million) in the first four months of 2025.

The strategy for Shandong's businesses to go global this year has seen their participation in 370 exhibitions and business matchmaking activities so far. That's contributed to a 7.6 percent year-on-year increase in the province's total value of imports and exports to date.

Of that, imports and exports with countries involved in the BRI reached 718.67 billion yuan, representing growth of 9.2 percent.

Shandong is also optimizing its business ecosystem to attract more foreign investment. The province recently hosted a news conference at international pharma group AstraZeneca's new production plant in Qingdao city, highlighting investment opportunities.

AstraZeneca's inhaler manufacturing plant in Qingdao, with a total investment of $750 million, is viewed as reflecting Shandong's commitment to providing high-quality services to multinational companies.

In addition, Shandong is leveraging high-level open platforms like the China-SCO Local Economic and Trade Cooperation Demonstration Area and the Shandong Free Trade Zone to implement its institutional opening up.

The zone has launched over 4,300 China-Europe freight trains, connecting 54 cities in 23 countries taking part in the BRI.

Moreover, Shandong has hosted major international cooperation events – including the 2025 Hong Kong-Macao-Shandong Week and the Qingdao Multinationals Summit – signing a raft of key cooperation projects at them.

The events have significantly boosted in-depth cooperation in trade, investment and innovation between Shandong and Hong Kong and attracted more multinationals to the province.

编辑：曹晓旭