Yantai financial assets valued at 1.2 trillion yuan

The scale of the financial industry in Yantai, Shandong province has continued to expand, local media reported.

The city's financial assets were valued at 1.2 trillion yuan ($185.77 billion) at the end of 2020, a year-on-year increase of 9.3 percent. Also in 2020, four Yantai-based companies were listed, bringing the total number of listed companies in the city to 51.

The increase was partly a result of the Yantai government's efforts to boost the city's financial industry by increasing the supply of credit to enterprises and extending temporary interest payment deferrals for 1,321 enterprises affected by the epidemic in 2020.

The city also promoted the establishment of fund management institutions and hosted a conference on June 23, 2020, focusing on financial and project cooperation between Qingdao and Yantai, and attracting more than 2,200 investors and investment institutions. There were 527 registered fund management institutions in the city by the end of 2020.