Qingdao and German entities signed 12 cooperation agreements at an investment promotion event in Munich, Germany on Nov. 23.

Qingdao government signed memorandums of understanding for international economic cooperation with Munich, capital of Bavaria, and Oldenburg, in Lower Saxony.

Qingdao’s international investment and cooperation promotion bureau signed letter of intent with Deloitte China to provide professional consultancy service in the process of industrial cooperation.

Another nine agreements were signed for cooperation in 3D printing, driverless vehicle, robotics, and consultancy, and convention and exhibition.

Eying greater and deeper international economic partnerships, Qingdao has drafted an action plan for targeted investment attraction. The local government plans to present 50 major projects worth US$36.7 billion and 97 private-public-partnership projects worth US$16.1 billion to attract global investors, with the hope to deepen cooperation with German enterprises in advanced manufacturing, energy saving, healthcare and finance.

Germany has become the largest foreign investment source and largest trading partner of Qingdao. In the first half of year, German entities invested 1.63 billion euros in 320 projects in the city; the trade between Qingdao and Germany reached 860 million euros.