Yantai sets development goals for 2021

Yantai set its development goals at the fifth session of the 17th Yantai Municipal People's Congress on Feb 20.

According to this year's municipal government report, the city's GDP is expected to increase by 7 percent, revenue in general public budgets is expected to increase by more than 5 percent, and investment in fixed assets is expected to grow by more than 5 percent by 2021.

In 2021, the city will strive to develop advanced manufacturing to promote the upgrading of industries, and the city's investment in construction projects is expected to total 153.4 billion yuan ($23.75 billion).

Yantai will also work to boost its new energy automobile industry, accelerate the construction of automobile charging stations, and make full use of hydrogen energy. Construction on the second phase of the Haiyang nuclear power project will also begin, and the construction of clean energy projects will be accelerated.

To improve local quality of life, the local government will increase social insurance subsidies by 10 percent. Over 100,000 jobs will be created throughout the year as well, and 25 primary and secondary schools will be renovated or built. A series of cultural activities will also be held to celebrate the 100th anniversary of the Communist Party of China.

Furthermore, Yantai will work to open up more, strengthen cooperation with Japan, South Korea, and countries involved in the Belt and Road Initiative, and expand into the European and American markets. It will organize more than 100 investment promotion conferences and expects to attract more than 170 billion yuan in investment.