Yantai city of Shandong province will offer financial support to the foreign trade and e-commerce sectors in 2015 and 2016, according to the "Interim Measures for the Management of Special Funds of Business Development" unveiled by the financial and commercial authorities.

As per the measures, the government will allocate 15 million yuan ($2.35 million) to support the development of foreign trade and another 4 million yuan to the e-commerce industry, for two years.

The measures aim to encourage foreign trade companies to expand overseas market and foster the e-commerce growth.

Edited by Shahnawaz Akhtar