Yantai, a coastal city in Shandong province [Photo/WeChat Account: yantaifabu]

The coastal city of Yantai, East China's Shandong province, saw steady progress in promoting local economic development in 2019.

The city's gross domestic product (GDP) rose around 6 percent, while its general public budget revenue increased to 59.5 billion yuan ($8.5 billion).

Last year, Yantai also made efforts to improve living standards for its residents. The per capita disposable income of urban and rural residents reached 48,061 yuan and 20,999 yuan, up 7.1 percent and 8.1 percent, respectively.

In addition, a total of 100 projects involving education, healthcare, and poverty alleviation were launched. The city's expenditure on people's livelihoods was 57.8 billion yuan, accounting for 74.6 percent of all financial expenditures.

Yantai also has made progress in reform and opening-up. The newly-built Yantai area of the China (Shandong) Pilot Free Trade Zone has had a huge impact in this regard, attracting 46 foreign-investment companies.

Lastly, the city was approved by the State Council as a cross-border e-commerce pilot zone in 2019, boosting the development of its e-commerce industry.