The coastal city of Yantai has been attracting an increasing amount of foreign investment, upgrading its industrial structure, and expanding cooperation with foreign countries as it makes efforts to further open up.

Yantai was approved as one of the first cities to open up to the world in 1984. After several decades of development, it has transformed from an obscure coastal town into one of the top 20 fastest growing economies in China.

To date, the city has witnessed 15,000 foreign-invested projects, with its actual use of foreign capital totaling $39.6 billion. It has also introduced 103 Fortune 500 companies.

In the first five months of the year, the city’s foreign trade value has amounted to 104.15 billion yuan ($14.74 billion), ranking second in Shandong province.

The city has established trade relations with 217 countries and regions. It has also established sister city relations with 30 cities.

International conferences hosted in Yantai, including the International Terroir Wine Exposition, the International Fruit and Vegetable Exposition, and the World Industrial Design Conference, have helped improve the city’s reputation across the world.

The 12th Yantai International Wine Exposition is held at the Yantai International Exposition Center in 2019. [Photo by Xiao Da/chinadaily.com.cn]