Yantai Huang-Bohai New Area goes all out to attract investment

The Huang-Bohai New Area in Yantai is one of the four provincial-level new areas in Shandong. [Photo/WeChat account: ytkfqfb]

The 2024 Yantai Huang-Bohai New Area High-standard Opening-up and High-quality Investment Promotion Conference has once again boosted the confidence of overseas and domestic enterprises that plan to invest in the area.

As many as 20 new projects focusing on key industries such as new energy storage, characteristic semiconductors, automobiles and new energy vehicles (NEVs), high-end equipment, new materials, and biomedicine were introduced to the area through the collective signing ceremony during the conference held recently.

The Huang-Bohai New Area is one of the four provincial-level new areas in Shandong, and it is also overlaid with national economic development zones, free trade experimental zones, bonded zones, and Sino-Korean industrial parks. The national-level Yantai Economic and Development Zone was established in 1984, and this year marks its 40th anniversary.

Over the past forty years, the Yantai Economic and Development Zone has transformed from a barren land into the economic center and leader of efforts to open up in Yantai.

In 2023, the area made significant progress in economic and social development. Covering only 1/38 of the city's land area, it generated nearly 1/4 of the regional GDP and attracted over 1/3 of the actual utilized foreign investment. It ranked among the top nine in terms of foreign investment and foreign trade among national development zones, and its key economic indicators continued to lead the city and the province.

At the recent investment promotion conference, the Huang-Bohai New Area specifically outlined the investment direction for the entire area, clearly delineating a new investment blueprint. The area will focus on five leading industries: high-end chemicals and new materials, automobiles and NEVs, new-generation information technology, high-end equipment manufacturing, and biomedicine. The area will particularly emphasize breakthroughs in new energy storage and semiconductor industries, promoting the extension, supplementation, and strengthening of industrial chains.

At the same time, the area will concentrate on attracting key industries and focus on promoting the development of new quality productive forces, seeking to attract investment in future industries such as humanoid robots and seizing opportunities for future development.