Yantai inks 14 projects to celebrate 40th anniversary of reform and opening-up

Yantai, a coastal city in East China's Shandong province, signed 14 projects in Beijing to celebrate the anniversary of reform and opening-up on Dec 18.

The 14 projects have a total investment of 6 billion yuan ($869.6 million) and involve some high-tech fields such as research institutes, new materials, machinery manufacturing, high-end chemical industry and modern services. They will be launched in Yantai's economic and technological development zone.

The projects involve scientific research institutes, new materials, machinery manufacturing, the high-end chemical industry, modern services and other fields. They will be undertaken by high-quality enterprises and have high scientific and technological content, strong market competitiveness and good future prospects.

The total investment in six manufacturing projects reached over 4 billion yuan and their annual output value will be up to nearly 10 billion yuan after launch. Henkel Loctite, engaged in industrial sealant production, introduced a capital project which will help its annual sales revenue increase by 1 billion yuan.

There are also five research and development projects. "The project to build the Tencent-Yantai New Engineering Research Institute is an innovation step that Tencent and local government launched to promote new engineering research and education," said Fu Manqing, the vice president of Tencent Cloud Computing Co.

The annual sales revenue of Suchang International Freight Co is expected to be 730 million yuan after it signs the logistics project. It is mainly engaged in warehousing, distribution and transportation businesses.

Indigo five-star hotel will become the sixth five-star hotel in the Yantai Economic and Technological Development Zone and will support an ancillary building project for the construction and operation of five-star hotels.

One of the first national development zones, Yantai Economic and Technological Development Zone focuses on developing ten major industrial clusters, including consumer electronics, automobiles, new chemical materials and biomedicine. A total of 80 projects have been launched through the world's top 500 companies.

Mou Shuqing, the Party secretary of Yantai Economic and Technological Development Zone, delivers a speech at the signing ceremony. [Photo/shm.com.cn]

Yantai, a coastal city in East China's Shandong province signs 14 projects in Beijing to celebrate the 40th anniversary of reform and opening-upon on Dec 18. [Photo/shm.com.cn]