Projects to boost Yantai's emerging industries at Qingdao summit

The coastal city of Yantai hosted a roadshow conference to discuss emerging industries during the 2019 Qingdao Multinationals Summit on Oct 20.

At the conference, a total of 15 projects focusing on emerging industries were signed with an investment of 23.3 billion yuan ($ 3.3 billion), including $70 million of foreign capital.

The projects include Huawei big data park, CGN marine energy comprehensive utilization project, an intelligent manufacturing base, and an auto industry park, all of which will help the city promote its new growth drivers and high-quality development.

Yantai Mayor Chen Fei attended the conference and delivered a keynote speech.

"Emerging industries are part of a new scientific, technological, and industrial revolution, and are crucial in fostering the development of new economic drivers," Chen noted.

Yantai enjoys a flourishing real economy and strong prospects in developing emerging industries, officials said.

Since reform and opening-up began 40 years ago, Yantai has attracted more than 100 of the world's top 500 enterprises, which have invested in 273 projects.

Officials said that the city aims to seek more multinational cooperation via the summit.

The summit was held in Qingdao, Shandong province from Oct 19-20, gathering more than 1,200 influential businesspeople from global multinational companies in 35 countries and regions.

More than 40 activities were held during the two-day event, including closed-door meetings, forums, multinational corporation road shows, promotional events and exhibitions.

The summit is the first of its kind in the world to focus on issues related to multinational companies. It aims to offer a platform for people to learn and share their experiences.