100b-yuan marine ranch to be built in Yantai

A marine ranch costing 100 billion yuan ($14.12 billion) will be built in the Yantai Economic and Technological Development Zone.

A total of 100 far-reaching intelligent network boxes developed by CIMC Raffles are expected to be installed in the ranch.

The ranch will be the largest aquaculture base for marine fisheries in Asia and is expected to have an annual output of over 5 billion yuan.

The project will focus on the development of marine ranching, intelligent fishing, recreational fishing, seedlings, and seafood processing and will work to upgrade the marine fishing sector. It will make use of advanced technology in its marine engineering equipment, management, and aquaculture.

Yantai is developing into one of China’s top marine economies, bolstered by its clean environment and high-quality marine management services.

Last year, the city saw significant development in six industries related to the marine economy -- modern fishing, equipment manufacturing, marine culture and tourism, ocean transportation and logistics, biological medicine, and seawater desalination.

Yantai will continue working to develop these six industries to strengthen its marine economy.