The actual use of investment from the United States during the first eight months of this year amounted to $57.4 million in Yantai, a coastal city in Shandong province, an increase of 111 times the same period last year, local media reported.

By the end of 2019, the city attracted a total of 1,165 projects from the United States, with contracted capital worth $3.63 billion and actual utilization of investment amounting to $1.73 billion.

The investments were made in fields such as automobile manufacturing, modern chemical, and machinery manufacturing.

In 2019, trade volume between Yantai and the United States totaled 36.01 billion yuan ($4.6 billion).

Specifically, the city's export value to the United States reached 31.39 billion yuan. The main goods were game machines and components, auto parts and automobiles. The city imported 4.62 billion yuan worth of goods including seafood, grain and auto parts from the United States.

From January to August 2020, the import and export volume between Yantai and the United States totaled 22 billion yuan, with 18.5 billion yuan in exports and 3.5 billion yuan in imports.

By the end of 2019, Yantai had invested in 103 companies and institutions in the United States with an investment of $2.27 billion, covering industries such as manufacturing, real estate, catering, biomedicine, and aircraft manufacturing.