Ten new measures were announced on Feb 25 at a conference focusing on the expansion of international markets in Shandong province, which was hosted by the Shandong Provincial Department of Commerce in Jinan, capital of the province.

The measures are intended to boost market expansion, elevate cross-border e-commerce and overseas warehouses, promote the coordinated development of trade and investment, cultivate foreign trade entities, and streamline cross-border logistics, among other goals.

Meanwhile, with the official launch of the public service platform for Shandong's international marketing at the event, Shandong will help 10,000 companies participate in over 370 overseas exhibition and negotiation activities throughout the year, with subsidies on offer ranging from 70 to 80 percent of the cost of participation.

A conference promoting the expansion of international markets is held in an effort to achieve stable growth and quality improvement in foreign trade. [Photo provided to chinadaily.com.cn]

Last year, Shandong achieved a total foreign trade volume of 3.38 trillion yuan ($465.82 billion), a year-on-year increase of 3.5 percent. Exports surpassed 2 trillion yuan for the first time, with a growth rate of 7.1 percent.

The number of foreign trade enterprises exceeded 73,000. Of those, 68,000 were private enterprises, which saw imports and exports totaling 2.53 trillion yuan, accounting for 74.9 percent of the total provincial trade volume and exceeding the national average by nearly 20 percentage points.

Currently, emerging sectors such as green shipping, wind power equipment, and display panels are playing an important role in foreign trade, with an increasing number of "Remarkable Shandong" products reaching global markets.