Laiyang, a county-level city in Yantai, was approved as a national base for the transformation and upgrading of foreign trade, local media reported.

Laiyang has seen robust development in foreign trade by taking measures to encourage local companies to expand.

In 2020, the city's foreign trade volume totaled 8.4 billion yuan ($1.3 billion), up 28.8 percent year-on-year. By the first half of 2021, its exports and imports are expected to reach 450,000 yuan, up 65.5 percent year-on-year.

Laiyang's agricultural industry also developed rapidly. In 2020, the output of agro-product processing enterprises above designated size hit 70 billion yuan.

The city is currently home to 35 leading agricultural companies, including Longda, Luhua, and Chunxue, and has developed agricultural product zones for grain and oil, high-quality fruit, vegetables, pig breading, and chicken breading.

Moreover, Laiyang is making efforts to support local agricultural companies in foreign trade transformation and upgrading and product innovation through the use of R&D platforms. By 2020, the city's agricultural exports were valued at 4 billion yuan.