Agreements for five projects were signed online between Qingdao, Hong Kong, and Macao during a promotional event on March 23.

The projects, which will be built in Qingdao, involve the marine economy, new-generation information technology, the business service industry, the financial industry and other fields. They have received a total of $1.09 billion in investment.

Shandong officials attend the "Conference on strengthening ties between Shandong province, Hong Kong, Macao, and Taiwan". The event was held via both online and offline channels on March 23. [Photo provided to chinadaily.com.cn]

The event focused on strengthening exchanges and cooperation between Shandong province, Hong Kong, Macao, and Taiwan and was held via both online and offline channels. Its main venue was located in Jinan, the provincial capital, while Qingdao, a coastal city in Shandong, served as one of its sub-venues.

Agreements for a total of 41 projects receiving $5.22 billion in investment were signed at the event. The projects mainly involve equipment manufacturing, new-generation information technology, medical care, new energy, new materials, modern agriculture, and modern services and will contribute to Shandong's high-quality development, said Shandong officials.

The Qingdao sub-venue for the event [Photo/WeChat account: qdfbwx]

Hong Kong, Macao, and Taiwan are important trade partners for Qingdao, and the city has been ramping up efforts to boost economic and trade cooperation with Hong Kong, Macao, and Taiwan during the COVID-19 epidemic.

According to Qingdao officials, Hong Kong has become the largest source of external investment for the city and a core economic and trade partner.

Official statistics show that in 2020, Hong Kong invested in a total of 346 projects in Qingdao, with contracted investment from Hong Kong hitting $13.83 billion, up 34.56 percent year-on-year. Last year, the city's actual use of Hong Kong capital amounted to $5.07 billion, an increase of 8.03 percent year-on-year.

The eastern coastal city of Qingdao, Shandong province boasts a vibrant economy. [Photo/VCG]