Carlyle signs MoU with Shandong government

The Carlyle Group and the Department of Foreign Trade and Economic Cooperation (SDFTEC), under the Shandong Provincial Government in China, have entered into a Memorandum of Understanding (MoU) to develop trade cooperation and stimulate investment in the region.

As part of the agreement Carlyle will dedicate resources, capital and expertise to the area in an effort to promote sustainable long term commercial enterprises, designating the region as one of its key investment areas in China.

Carlyle's investments in Shandong Province to date include: a joint venture investment for Veyance, one of Carlyle's US portfolio companies, to produce world-class industrial conveyor belts; and Qingdao Capland Center, a mixed-use development project that is one of the city's landmarks, in partnership with a local firm Capland Property Development Group.

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