The Yantai Forum on International Economic and Trade Cooperation was held during the fourth China International Import Expo in Shanghai on Nov 6.

Agreements for 18 projects worth 14.3 billion yuan ($2.24 billion) were signed in the fields of equipment manufacturing, new energy, next-generation information technology, and new materials.

The projects are invested by Japan, South Korea, the Netherlands, Singapore, China's Hong Kong and other countries and regions.

Mu Shuqing, vice-mayor of Yantai, delivered a keynote speech and highlighted the city's efforts to promote opening up.

Yantai was one of the first cities in China to open up to the world and is also a part of the China (Shandong) Pilot Free Trade Zone.

Chen Xinzi, director of the Yantai municipal commerce bureau, promoted the city's investment environment and preferential policies for foreign investors.

Yantai has cultivated seven industries worth over 100 billion yuan and has established sister city relations with 32 cities. More than 100 Fortune Global 500 companies operate in the city.

Mu said he hopes to attract more Fortune Global 500 companies to Yantai in the future.