Yantai sees steady economic growth from Jan-April

Yantai, a coastal city in East China's Shandong province, saw steady economic growth from January to April, according to a news conference hosted by the local government on May 27.

The city's revenue in the general public budget reached 26.09 billion yuan ($4.09 billion), while tax revenue hit 18.97 billion yuan. Investment in fixed assets grew by 12.2 percent. The added value of industries increased 22.1 percent.

Foreign capital in actual use in the city reached $750 million. The actual use in capital from Japan and South Korea amounted to $52.47 million, an increase of 432.7 percent, accounting for seven percent of the city's total.

From January to April, imports and exports totaled 128.16 billion yuan, 31.5 percentage points higher than the national average and 22.8 percentage points higher than the provincial average.

The city's foreign trade with the United States, South Korea, the European Union, Japan, and ASEAN increased by 141.3 percent , 51.3 percent, 57.8 percent, 18.7 percent, and 42 percent, respectively.