Ten projects with a total $1 billion in foreign and domestic investment were signed via online channels during the ASEAN segment of the Connecting Shandong with Fortune Global 500 series of events in Jinan, Shandong province, on Tuesday.

Covering the sectors of healthcare, equipment manufacturing, modern services and new materials, the projects are funded by companies in ASEAN countries and will be built in nine Shandong cities.

Despite the global downturn, Shandong-ASEAN economic and trade cooperation has maintained its growth trend. During the first eight months of this year, Shandong's foreign trade with ASEAN countries reached $24.62 billion, a year-on-year increase of 15.1 percent, according to the provincial government.