Zhang Weike, deputy head at Shandong's commerce department, said: "We stress to profoundly cooperate with Fortune Global 500 is not only attracting several projects and foreign investment. The more important aim is to bring in the world's most advanced concepts, technologies and management models." Shandong welcomed its first Fortune Global 500 friend, German group Henkel, in 1987 and since then 213 such friends have set up 726 businesses in the province by July this year.

Their investment has been given to 17 cities in Shandong, promoting industries such as high-speed trains, ship building and information technology.

The province plans to expedite its cooperation with Fortune Global 500 enterprises in the next three years, with each of its top 10 industries aiming to have 10 cooperation projects with the companies.

Contact the writer at songmengxing@chinadaily.com.cn