Yantai looks to strengthen cooperative ties with Guangdong

The Yantai government hosted an investment promotion conference in Guangzhou, South China's Guangdong province on April 20, aiming to attract more local companies to invest in the coastal city.

Zhang Bo, deputy mayor of Yantai, expressed his sincere invitation to Guangzhou entrepreneurs to visit Yantai for investment, tourism and development.

Guangdong, which neighbors Hong Kong and Macao, is one of the country's economic powerhouses and has rich experience using offshore investment and seeking Sino-foreign cooperation.

"Strengthening cooperation with Guangzhou will help Yantai increase sales of its products abroad and expand our economic ties with other countries and regions around the world," he said.

Zhang Ming, the executive vice minister of the Yantai publicity department, delivered a keynote speech introducing the city's preferential investment environment, prosperous economy and ever-expanding opening-up policies.

Yantai, an industrial hub in East China's Shandong province, has huge potential for maritime economy with its vast resources and long coastline.

The city is working to cultivate emerging industries as well as further develop its eight leading industries, which include equipment manufacturing, biological medicine, modern logistics and high-end chemical industries.

According to Zhang Ming, it has set up a fund of 300 billion yuan ($43.5 billion) to aid in the transformation of old growth drivers.

Zhang Ming also spoke highly of Guangzhou entrepreneurs and expressed thanks for the contributions they have made to past reform and opening-up.

He hopes to see more cooperative opportunities with entrepreneurs in Guangdong province in the field of Yantai's eight leading industries.

During the conference, the Yantai Chamber of Commerce in Guangdong Province was launched to provide the province’s Yantai companies with an exchange platform.