Yantai to deepen cooperation with multinationals

Yantai, a coastal city in East China's Shandong province, will host a promotional conference during the second Qingdao Multinationals Summit on July 15-16 in Qingdao.

Senior executives from multinationals such as Dell, Bayer, Marubeni Corporation, and SK Holdings will be invited to the conference to discuss cooperation.

Yantai has seen rapid development and opening up in recent years. More and more multinational companies from all over the world are setting up operations in the city.

By the end of last year, Yantai had 14,014 foreign-invested projects, with contractual foreign investment amounting to $76.52 billion, of which 37.63 billion was actually used. From January to May of this year, Yantai's foreign capital in actual use reached $930 million, up 23.01 percent year-on-year

A total of 104 Fortune 500 companies have opened branches in the city, and 30 companies have each invested more than $100 million, including Linde Group, General Motors Company, LG Electronics and Hyundai Motor Group.