East China's Qingdao attracts 172 Fortune Global 500 companies

JINAN - Qingdao, a port city in East China's Shandong province, has attracted investment from 172 Fortune Global 500 companies and local enterprises have established overseas companies and institutions in 112 countries and regions worldwide, local authorities said on Tuesday.

The number of enterprises that have contributed to the city's foreign trade has exceeded 20,000, an increase of more than 6,000 from 2015, said Xue Qingguo, Qingdao's vice-mayor, during a press conference on Tuesday.

A total of 172 Fortune Global 500 companies have invested in 367 projects in the port city, while local enterprises have invested overseas to establish a total of 1,820 enterprises and institutions, according to Xue.