Shandong works to deepen ties with Fortune Global 500 companies

An international business promotion conference opened online in Jinan, capital of Shandong province on Aug 27, aiming to boost cooperation between Shandong and Fortune Global 500 companies.

The "Connecting Shandong with Fortune Global 500" serial event is hosted by the CPC Shandong Provincial Committee and the Shandong Provincial People's Government and organized by the Shandong Provincial Department of Commerce.

The event features five special sessions for Fortune Global 500 companies from Europe, ASEAN, the United States, South Korea, and Japan.

The Europe session, which took place on Aug 27, welcomed business tycoons such as Ivan Glasenberg, CEO of Glencore Group, Jan Rinnert, CEO of Heraeus Group, Fabrice Fourcade, vice president of EDF Group, and Sanjiv Lamba, CEO of Asia Pacific Linde Plc.

In addition, 10 major foreign projects receiving a total of $797 million in investment were signed at the conference.

The projects, primarily funded by Germany, France, Italy, Austria, Poland, and Sweden, involve high-end equipment manufacturing, new materials, modern finance, biotechnology, and food manufacturing.

They are being carried out in the Shandong cities of Jinan, Qingdao, Zibo, Zaozhuang, Yantai, Weifang, Tai'an, and Rizhao.

Shandong Governor Li Ganjie talked online with representatives of some European enterprises at the conference.

When talking with Ivan Glasenberg from Baar, Switzerland, Li said that Glencore has a close trade relationship with many enterprises in Shandong in the fields of crude oil, natural gas, minerals, and agricultural products.

He expressed hope that Glencore Group would expand commodity trade with Shandong Energy Group, Shandong Weiqiao Pioneering Group, Xinfa Group, and Shandong Iron and Steel Group in the future.

Glencore is one of the world's largest global natural resource companies and a major producer and marketer of more than 60 commodities, including mining, energy and agricultural products. The group's operations comprise around 150 mining and metallurgical sites and oil production assets.

Fabrice Fourcade from France said at the conference that Shandong is one of the main provinces that EDF Group is seeking cooperation with.

"As a leader in the field of renewable energy, EDF Group hopes to have more opportunities to use its expertise and rich experiences to support sustainable development and reduce air pollution in Shandong province."

Alan Murray, CEO of Fortune, was also invited to the event via online video.

In his speech, Murray said that this series of activities across Europe, ASEAN, the United States, South Korea, and Japan will play a critical role in deepening communication and cooperation between Shandong and leaders of Fortune Global 500 companies.

More than 200 Fortune 500 companies have invested in Shandong thus far.

By the first half of 2020, a total of 219 Fortune 500 companies have invested in 785 companies in Shandong, demonstrating that the province is an attractive destination for companies due to its strong business environment and economic prospects.

The ASEAN session of the series will be held on Sept 22, the US session on Sept 29, the South Korea session on Oct 22, and the Japan session on Oct 27.