Hong Kong, Macao and Taiwan are important sources of external investment for Shandong. In recent years, the province has been continuously optimizing its local investment environment to strengthen economic and trade ties with Hong Kong, Macao and Taiwan.

In the Weihai Torch Hi-Tech Science Park, printers developed and manufactured by an electronic equipment company invested by Hong Kong-based EVA Precision Industrial Holdings (EVA Holdings) recently achieved mass production and made their market debut in April. The company will complete the construction of six printer production lines in June this year.

Employees work at the electronic equipment company invested by EVA Holdings in Weihai. [Photo/iqilu.com]

EVA Holdings is a key supplier of printer components to Hewlett-Packard. This year, the company started its transformation journey and has joined hands with a Japanese technology company in the research, development and manufacturing of printer machines.

To support the company's development, the Weihai Torch Hi-Tech Science Park has provided convenient entry to the country for Japanese engineers and helped EVA Holdings with its labor shortage issues.

"We have worked with Weihai Vocational College to set up a school to cultivate senior blue-collar talents for EVA Holdings," said Lian Qingsong, a local official.

With the full support of the local government, the enterprise will gradually increase its investments to build an electronic industrial park in Weihai, according to EVA Holdings.

Hong Kong is the largest source of foreign investment in Shandong. In 2020, Shandong utilized $13.52 billion in Hong Kong investments, up 22.8 percent year-on-year.

"Hong Kong and Macao mainly invest in the new generation of information technology, new materials, and equipment industry," said an official from the Shandong Provincial Department of Commerce.

Taiwan is also an important economic and trade partner of Shandong. In 2020, 168 Taiwan-funded projects were approved in Shandong. Twenty-one of these projects had an investment of more than $30 million.