Yantai to bolster modern industry development

The coastal city of Yantai, East China's Shandong province, recently set goals for developing modern industries such as advanced manufacturing, modern services, and emerging industries during the 14th Five-Year Plan period (2021-25), local media reported.

The output value of advanced manufacturing industry in Yantai is expected to exceed 1 trillion yuan ($15.44 billion) by 2025, and the city will strive to develop its advanced high-end chemical, biological medicine, food processing, marine engineering equipment, and electronic information sectors.

During the 14th Five-Year Plan period, the city will focus on developing 10 key fields in modern service industry, and the output value of modern service industry is expected to exceed 500 billion yuan by 2025. The modern service industry includes industrial design, science services, exhibition economy, modern logistics, and cultural tourism.

Some emerging industries featuring cutting-edge technologies such as satellite technology, ultra high definition video display technology, artificial intelligence, and blockchain will also be placed in an important position for the city's future development.