Yantai, Shandong province, was investing at an aggressive pace in the first half of this year, according to the Yantai Business Bureau.

Between January to June, statistics showed that there were 36 enterprises (institutes) declared for the overseas investment record, with the agreed investment amount standing at $958.65 million, rising by 96.5 percent year-on-year, and a paid-in value of investment standing at $832.51 million, rising by 146.1 percent. And there were 18 projects where the value was over ten million U.S. dollars, with the agreed investment amount standing at $916.26 million, rising by 97.9 percent.

Shandong Weiyang Luanjiakou Port Co. Ltd., reported a $100 million investment in Bagan Datoh Port of Malaysia to build a 200,000 DWT port with related facilities and channels, which is expected to export raw materials worth $100 million every year.

Conglin Group reported a $62.6 million investment in an education project in Australia to build buildings for residential, education and scientific use. The education project will be available for education, employment and immigration services. The annual income is expected to reach as much as $15 million.

The cross-border mergers and acquisitions projects also made a steady advance in the first half of this year. Nine new projects got approval valued at around $404.90 million.

Luye Investment Group bought Health Care Australia Pty. Ltd., the third-largest privately-owned hospital group in Australia, for $271.27 million, creating the largest medical overseas business project for a Chinese privately-owned medical group.

Furthermore, Yantai's enterprises show a strong capacity in overseas engineering projects.

In the first half of this year, newly signed overseas contracts totalled $475.56 million, a rise of 24.5 percent, and have achieved total turnover of $495.2 million.

The 14 new projects signed in nine countries along the Belt and Road reached a total contract value of $168.72 million, and turnover hit $269.36 million, covering fields such as house building, power and transportation.

Yantai also sent many of its skilled workers overseas, such as sailors and catering staff.