Yantai zone sees 43% growth in investment in Q1

Yantai Economic and Technological Development Zone in East China's Shandong province attracted 20 key projects in the first quarter of the year, a year-on-year growth of 43 percent, and the zone's actual use of foreign capital surpassed $143 million in the first two months, up 55.7 percent year-on-year, accounting for one-third of the city's total amount.

"Yantai zone boasts a solid industrial foundation, a sound business environment, and broad development prospects, which are the key factors that we chose to invest in," the head of a foreign company said.

It is the zone's continuous efforts that have contributed to the surge in investment. Local authorities said that in recent years, Yantai Economic and Technological Development Zone has beefed up efforts to further innovate and improve its services, creating a favorable business environment for entrepreneurs.

Since the outbreak of the current COVID-19 pandemic, the zone has organized a series of activities online such as conferences during promotional meetings, matchmaking meetings and online investigations. Twelve key projects have been signed online, bringing a total investment of more than 20 billion yuan ($3.15 billion).

Efforts have also been made to promote the construction of characteristic industrial parks by deepening cooperation with Japan and South Korea, making the zone a hot investment destination for enterprises from the two countries.