Jiang Daming, governor of Shandong province, sent out a message to business leaders in Hong Kong on the eve of Shandong's 2010 International Trade and Investment talks that "Shandong would like to enhance cooperation with Hong Kong."

"Hong Kong is one of the most important trade partners in Shandong's opening-up process. There is huge potential for extensive cooperation between the two sides," Jiang said.

Jiang will lead a delegation from Shandong, to attend high-level business talks in Hong Kong from May 10 to 14. The business initiative has been warmly welcomed by HK business organizations including Hong Kong Trade Development Council and the Hong Kong General Chamber of Commerce.

Shandong held a Regional Development Strategies Presentation on May 7 to highlight its business potential. It outlined major development strategies including those for developing the Yellow River Delta high-efficient economic zone, Oceanic Economic Zone at Shandong peninsula and high-end industrial clusters at Jiaodong peninsula.

Individual cities will also hold special events in a bid to encourage investment. A total of 300 major projects, and over 3,000 products involving a total investment of $104.2 billion will be presented.

Jiang said: "The development strategy for making the Yellow River Delta a high-efficient economic zone has been listed as part of the national strategy. This will be a new engine driving the economic development of the zone around the Bohai Sea."

The Yellow River Delta covers 26,500 square kilometers, one-sixth of Shandong's land area and encompasses Dongying, Binzhou, Weifang, Dezhou, Zibo and Yantai.

The Delta's GDP was 475.6 billion yuan in 2008, accounting for 15.3 percent of the total GDP of Shandong.

Local industries include advanced manufacturing, modern logistics, new energy and modern agriculture.

At the Oceanic Economic Zone Jiang said Shandong wants to develop ocean-based chemical, exploring equipment manufacturing, high-tech, oil exploring, pharmaceutical, ship-building and tourism sectors.

The Oceanic Economic Zone will be the first zone featuring a marine economy in China.

The high-end industrial cluster at Jiaodong Peninsula includes advanced manufacture and modern service.

Cooperation between Shandong and Hong Kong is mutually beneficial and Hong Kong has the largest share of Shandong's outbound investment. The province's investment in Hong Kong mainly focuses in the areas of commercial service, scientific research, technical services, wholesale and retail and the transportation sector.

"To sharpen its competitive edge in Hong Kong, Shandong will continue encouraging quality enterprises to invest in Hong Kong," Jiang said.

Source:China Daily