The province has been working to boost the effect of the SCO Qingdao Summit, facilitate the development of China-SCO Local Economic and Trade Cooperation Demonstration Area, make innovation in the China-Japan-ROK local business cooperation mechanism, and elevate the levels of Sino-German Ecopark and other international parks. These endeavors aim to scale up new heights of opening-up. In 2018, the import and export of goods were 1.93 trillion RMB yuan, an increase of 7.7%. Exports hit 1.06 trillion RMB yuan, an increase of 6.1% and exceeding the 1 trillion mark for the first time. The import and export of services reached 406.09 billion RMB yuan, up by 15.1%. According to the statistics standard of the Ministry of Commerce under the capital account of FDI, the number of newly established foreign-funded enterprises surpassed 2,000 for the first time and reached 2,156, an increase of 45.8%. A total of 214 Fortune Global 500 companies established 741 enterprises in Shandong. The paid-in foreign investment was US$12.39 billion, an increase of 6.5%. The outbound investment registered 46.5 billion RMB yuan, an increase of 23.2%, and the turnover of overseas contracted projects hit 80.68 billion RMB yuan, an increase of 1.6%, ranking fifth and second respectively in China. In August, 2019, China (Shandong) Pilot Free Trade Zone was unveiled.