Yantai has been praised by the Shandong provincial government for its fruitful results in attracting investment and global talents, local media report.

Liu Jiayi, the Party secretary of Shandong province, noted that talents, technologies and funds are of great importance in promoting the shift of growth drivers from old to new ones.

Shandong province is encouraging its 16 cities to roll out more preferential policies or make full use of local competitive industries to attract more investment and high-end talents to further promote local economic development.

Yantai ranked in the top three of the 16 cities in terms of attracting investment and talents in 2018.

The city’s utilized external capital reached 442.15 billion yuan ($64.02 billion) and has supported 154 projects each of which has an investment of one billion yuan.

In 2018, the city hosted more than 140 investment promotional activities in 26 provinces and 16 countries and lured a total of 37,000 talents in various fields last year, according to official data.

Shandong province hosts a conference to award cities in terms of attracting investment and global talents. [Photo/WeChat Account: yantaifabu]