Yantai is one of the exportation bases of various commodities in China with a comprehensive foreign trade system. More than 300 companies have been licensed to import and export commodities. And it also has over 1000 foreign-funded enterprises in the whole city. 17 major categories with over 600 varieties of commodities and products are sold to over 100 countries and regions in the world. In 2002, the annual volume of import and export is 3.42 billion U.S. dollars of which 2.57 billion U.S. dollars came from exports. All means of economic and technical cooperation in current practice in the world have been started with nearly 60 countries and regions such as U.S.A., Canada, Japan, France, Germany, Hongkong and Macao, etc. since its further opening to the outside world in 1984. Till the end of 2002, 6999 contracts have been signed for using foreign investment through which introducing US$ 11.1 billion contracted foreign investment and US$ 6.58 billion utilized foreign funds. 5874 foreign-funded enterprises have been set up. Now foreign cooperation relation with over 30 famous large firms, multinational companies and financial groups such as MITSUI CO., LTD.,
MITSUBISHI, NISSHO IWAI CIOPORATION, TOYOTA, NIPPON EDNSO CO., LTD., TOMEN CORPORATION, DAEWOO, RALSTON-PUSINA INTERNATIONAL HOLDING CO., LTD., THE TIMKEN COMPANY, ELF, TOTAL RAFFINAGE &DISTRIBUTION S.A., GBCORP., LIEMHWAINDUSTRIAL CORPORATION, NEW WORLD INFRASTRUCTURE LIMITED, BANK OF CHINA GROUP
INVESTMENT LIMITED, CHINA MERCHANTS HOLDINGS CO., LTD., CHINA RESOURCES CO., LTD., etc. has been set up. Yantai actively participates in the international exchanges and cooperation of foreign economy, techniques and trade, through successfully hosting the Second APEC International Trade Exposition, the Second APEC Techniques Exchange & Exhibition of Small and Medium Enterprises, the Second APEC Investment Mart, etc. Also the International Symposium and Exhibition on Fruit/Vegetable Processing Technology and Industrialization, which is one of the four existing nation-leveleconomic and trade fairs, will be held during October 19-25 in Yantai. The annual gross of labor service contracts on foreign projects account for 0.119 billion US dollars and the turnover is 9.2 million US dollars. The number of local labors that have worked in the foreign countries amount to 4860 person-times and 6983 persons are still working in the outside world.
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