Yantai, a coastal city in Shandong province [Photo by Tai Benmin/WeChat account: ytwlgw]

The coastal city of Yantai, Shandong province saw steady economic growth in January, 2021, local media reported.

In the first month of 2021, the city's revenue in the general public budget and tax revenue increased by 114.8 percent and 56.2 percent respectively from the previous month, according to Hu Yibing, deputy director of the Yantai municipal finance office.

The city’s imports and exports also surged in January, with railway and water freight volumes increasing by 18.8 percent and 15.1 percent respectively. The throughput of ports in foreign trade cargo reached 15.1 million tons, an increase of 51.9 percent month-on-month.

In January, 40 foreign-invested enterprises were established, an increase of 166.7 percent compared to the previous month. Meanwhile, the actual utilization of foreign capital amounted to $110 million.

The recovery of the construction and real estate industries was accelerated, with the output value of the construction industry reaching 7.76 billion yuan ($1.2 billion), up 33.4 percent month-on-month. Of the 389 municipal key construction projects, 212 have started construction, with the resumption rate hitting 54.5 percent.