A rendering of Bajiao Bay Marine Economic Innovation Zone in Yantai, Shandong province [Photo/jiaodong.net]

Located in the Yantai Economic and Technological Development Area, Bajiao Bay Marine Economic Innovation Zone has a planned area of 8.4 square kilometers and an investment of nearly 38 billion yuan ($5.49 billion).

The zone is designed to attract technologies, talents, and projects in the fields of high-end marine equipment, smart sensors, underwater robots, marine big data, smart manufacturing, high-end marine food, and marine biomedicine.

Five areas are planned in the zone, including a marine public innovation platform, a planting industry innovation demonstration zone, an international science and innovation community, a marine cultural tourism exhibition zone, as well as a supporting service zone.

The zone is currently under construction and attracting investment. The headquarters base in the zone was put into use on March 9 and has introduced 10 R&D institutions and innovation centers.

Officials said that the area, with its regional and industrial advantages, will play a key role in boosting the city's marine economy.