Recently, KWQ, which was jointly established by two Japanese fortune 500 enterprises Kobe Steel Ltd. and Sojitz Machinery Corp. with JPY9b (about USD84m) got approved.

This is the largest one-time investment project, funded by Japanese fortune 500 enterprises in Qingdao Economic and Technological Development Zone.

This project has registered capital of JPY3b (about USD28m), mainly producing high-tech welding material for such industries as automobile and shipbuilding.