Economic and trade cooperation between Shandong and Japan:

In 2020, Shandong's imports and exports to Japan reached 156.7 billion yuan ($24.6 billion), a year-on-year increase of 3.7 percent, accounting for 7.1 percent of the province's total trade volume.

In the first 10 months of 2021, Shandong's imports and exports to Japan amounted to 150.52 billion yuan, an increase of 19.7 percent, accounting for 6.3 percent of the province's total trade volume. 

Among them, the main export products in Shandong were clothing and clothing accessories, electrical and electronic products, textile yarns, fabric products, aquatic products and mechanical equipment. While the main imported products from Japan were electrical and electronic products, mechanical equipment, instrumentation, steel, unwrought copper and copper materials.

In 2020, 125 Japanese investment companies were established in Shandong, an increase of 50.6 percent year-on-year. The actual use of foreign capital reached $310 million, an increase of 115.7 percent, accounting for 1.8 percent of the province's total. 

In the first 10 months of 2021, 134 Japanese investment companies were established in Shandong, an increase of 55.8 percent year-on-year. The actual use of foreign capital reached $490 million, an increase of 203 percent, accounting for 2.7 percent of the province's total. 

Sumitomo, Itochu, Marubeni, Mitsui, Mitsubishi Electric, Mizuho Bank, Aeon, JFE, Komatsu Manufacturing, Yokohama Rubber and other Fortune Global 500 companies and other industry giants have invested in Shandong in various sectors covering healthcare, high-end manufacturing, new energy, modern finance as well as high-end chemical industry.

In 2020, 16 investment companies and institutions approved by Shandong registered in Japan, with domestic investment capital reaching $27.57 million, a year-on-year decrease of 60.9 percent, accounting for 0.42 percent of the province's total foreign investment. 

From January to October 2021, six investment enterprises and institutions in Shandong have been registered and approved in Japan, with Chinese investment capital reaching $38.02 million.

Shandong is playing a more active role in its investment and M&A in Japan. Shandong has conducted wide cooperation with Japan in sectors covering advanced technology, high-end products, international brands and market networks. 

Hisense Electric's acquisition of Toshiba TV is Shandong's largest investment project in Japan in recent years. Shandong has received a variety of business such as Toshiba TV products and its operating services, seeking to further increase Shandong's international market share.

Small and medium-sized enterprises in Shandong have largely increased their investment in Japan, with the investment capita mostly below $5 million. The bilateral cooperation and exchanges between small and medium-sized private enterprises have been increasingly widened.