A total of 111 directly foreign-funded projects with a contractual value of US$ 1.11 billion were approved in Qingdao, a coastal city of Shandong province in the first quarter of 2012.

The foreign capital actually used in the first quarter by the city reached US$ 1.057 billion, up 10.2 percent over the same period of last year.

59 of the approved projects are in the service sector with contractual values totaling US$581 million.

Statistics show that the city approved additional investment by 94 foreign-funded projects worth US$ 580 million.