Yantai cooperates with Greenland to build modern city projects

The Yantai government signed a strategic cooperation framework agreement with Greenland Group, a leading property developer in China, via video conference on Feb 18.

According to the agreement, the two sides will cooperate in three major projects – the Yantai high-speed railway station, a landmark in Zhifu district, and a convention and exhibition center in Muping district.

The projects will cover a total area of 273.3 hectares and cost nearly 40 billion yuan ($5.79 billion).

Chen Fei, mayor of Yantai, attended the conference and praised the video format as an innovative way to resume production and maintain economic growth amid the novel coronavirus pneumonia outbreak.

The partnership will see the construction of high-end hotels, business buildings, international finance centers and commercial complexes in Yantai, according to Mao Juncai, CEO of Greenland Group.

Mao expressed his hope that the partnership will contribute to the city’s economic and social development.

The Yantai government will further optimize the business environment and provide efficient and convenient services for the projects, Chen added. Construction is expected to begin on the projects in March.