The Shandong provincial government has approved a plan to absorb a total of 6 billion US dollars worth of investment for Dongying City in the Yellow River Delta.
Liu Guoxin, mayor of Dongying, said the move will make Dongying a new processing and manufacturing center in the province, and one of the best of its kind in northern China.
According to the plan, about 600 manufacturing and processing projects will be operational by 2007 in a number of industrial parks in Dongying City in east China's Shandong Province.
"A processing and manufacturing center covering 95 square kilometers in the delta is taking shape," comprised of the Dongying Economic and Technological Development Area and five specialized industrial parks, said the mayor.
About 240 manufacturing and processing projects have been launched in Dongying Economic and Technological Development Area and in other industrial parks with a combined investment of 1 billion US dollars. Investors include those from Japan, the Republic of Korea, Hong Kong and Taiwan.
The city has been improving its infrastructure facilities, including ports, airports, railways and express ways.
(Xinhua News Agency February 8, 2003)
