Overseas investment in Qingdao, a coastal city in China's Shandong Province, totaled US$360 million in January, growing by 31.1 percent over the same period last year, according to the Municipal Bureau of Commerce.

Capital investment from Hong Kong reached US$190 million, up 28.8 percent from last year.

Hong Kong is the main source of overseas capital investment and accounts for over 50% of total foreign investment.

Capital investments from Taiwan totaled US$42.37 million, increasing 210% compared to last year.

Qingdao draws investment into six sectors, such as industry and innovation, to promote ease of investment.

In addition to Hong Kong and Taiwan, South Korea and Japan are main sources of overseas investment. Investment capital from South Korea totaled US$56.27 million and Japan US$23.69 million.