Yantai's GDP exceeds 390b yuan, up 10.5% in H1

The GDP of Yantai, a coastal city in East China's Shandong province, totaled 391.84 billion yuan ($60.33 billion), a year-on-year increase of 10.5 percent, in the first half of this year, the Yantai municipal government announced on Aug 18.

During the period, the city's industrial enterprises above designated scale generated profits totaling 32.85 billion yuan, an increase of 88.5 percent year-on-year and an average increase of 31 percent over the past two years.

Officials said the city currently has 1,120 high-tech enterprises. The number of small and medium-sized science and technology enterprises now stands at 1,943.

Marine engineering equipment and nuclear power equipment were selected as the first group of strategic emerging industrial clusters in Shandong province in this February.

By the end of June, 104 out of 108 provincial-level key construction projects in Yantai had started or resumed construction. The combined investments of these 104 projects amount to 49.99 billion yuan.

Longkou, Haiyang and the Yantai Economic and Technological Development Zone have completed investments of more than 7 billion yuan this year.