With the establishment of the Shandong Peninsula National Innovation Demonstration Area, the Yantai Hi-tech Industrial Development Zone in Shandong province, along with other five hi-tech zones, have been given greater initiative to carry forward regional development through innovation and entrepreneurship.

The marine biological and medicine industry has gradually become the leading industry at the Yantai Hi-tech Industrial Development Zone in recent years. A new pharmaceutical medicine has been launched after clinical trials, and will enter a global market worth 13.39 billion ($2 billion) soon, according to its producer, the Shandong International Biotechnology Park. Featuring technological advantage over similar products, it is China's first high-end preparation product to go public in the US, and is expected to enter the overseas market in 2018.

A hi-tech park association was also set up to boost technological exchanges and cooperation between countries along the Silk Road. Various emerging industries like intelligent manufacturing, information technology and the modern service industry are springing up, which attract an increasing number of top talents to the development zone.

The Shandong Peninsula National Innovation Demonstration Area serves as a great opportunity for the Yantai Hi-tech Industrial Development Zone to promote administrative and policy innovation, as well as entrepreneurship vigor, said Li Shengjiang, director of local technology bureau.