Yantai becomes magnet for Zhejiang investment

Yantai, East China's Shandong province was rated as the best city for investment outside of Zhejiang, China in 2019 at the Zhejiang Investment and Finance Summit and 5G Summit in Ningbo, Zhejiang province on June 13.

The city was praised for its business-friendly environment, supportive policies and efficient services for Zhejiang businessman and companies looking to invest and set up factories.

The Zhejiang Investment and Finance Summit, sponsored by Zhejiang Daily, is an annual event for private companies to share information and resources. It has been successfully held for 15 years, since 2004.

Yantai has attracted a large number of high-quality, Zhejiang-invested projects due to its favorable investment environment. Official data show that in 2018 a total of 16 Zhejiang enterprises were launched and invested more than 23 billion yuan ($4.7 billion) into the city.

Another three cities included in the list are Yichang in Hubei province, Guilin in Guangxi Zhuang autonomous region and Bayannur city in Inner Mongolia autonomous region.