The Jinan Area of China (Shandong) Pilot Free Trade Zone in East China's Shandong province witnessed impressive growth in attracting foreign investment in 2024, with the number of newly established companies amounting to around 15,000, accounting for 18.6 percent of the city's total.

In 2024, the area also allocated foreign investment amounting to $580 million, representing 37 percent of the city's total, and achieved a total import and export volume of $95 billion, making up 42 percent of the city's total trade.

Speaking at a press conference in Jinan, the provincial capital, on April 10, Zhang Zhe, deputy Party secretary of the Jinan Area of China (Shandong) Pilot Free Trade Zone, highlighted the initiatives undertaken in the area, including a pilot reform to streamline customs clearance for goods by combining both the medicinal and food processes as well as unveiling a list that allows the import of materials for biomedical research.

The area also set up the province's first cross-border digital service platform and a comprehensive international trade service platform to facilitate international business expansion for enterprises, Zhang said.

Furthermore, significant progress has been made in optimizing the business environment in the Jinan Area of China (Shandong) Pilot Free Trade Zone, such as providing a "one-stop service" for overseas investment.