According to the investment update(Jan.-Sept. 2014) that comes to hand on Oct. 31, the overseas investment agency in Shandong province has reviewed and approved 358 local companies intending to invest overseas in either joint ventures or wholly-owned establishments. For the joint ventures, Chinese investors poured USD$5.15 billion, 34.1% up against the same period of the last year, but the actual capitals that already occurred amount toUSD$3.17 billion, chalking up by 22.1%.
There are 57 projects relating to textiles and rubber tyres in the approved outgoing investment, with USD$1.28 billion from Chinese investors, representing 24.9% of total cake-share. Shandong province is a very big textile producer in China, with the world largest cotton textile company WEI QIAO Group as the local pride and the world leader just for the company’s conservative 6 million more spindles in spinning capacity. The outgoing investment from this province further beefs up the trend of production relocation outside China in global perspectives.