| It was learned from the
Municipal Foreign Trade and Economy Bureau that by the end of this May, Qingdao
has approved the establishment of 16,206 foreign invested enterprises with a
contractual value of 34.6 billion US dollars. Foreign investment has played a
growing role in local economy.
Qingdao has increased its investment to infrastructures in recent years and
optimized its service for foreign investment. These measures cut down the costs
of foreign investors and attracted more capital from abroad.
With the influx of foreign capital, the city's traditional industries like
textile and clothing enjoy continuous growth. The textile exports valued 1.27
billion US dollars in the first 5 months this year, accounting for 26% of the
city¡¯s total.
Foreign capital has promoted the growth of consumer electronics and IT
industry.
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