The Yantai government pledged to construct the Sino-Japan Industrial Park to further promote opening-up and strengthen trade exchanges between the city and Japan.

According to the plan, the park will be constructed in two phases. In the first phase, three parks covering an area of 2.7 square kilometers will be launched, which are a new generation of information technology park, a science and technology innovation park, as well as an economic and cultural exchange center.

The new generation of information technology park will focus on developing the semiconductor industry, covering chip design and manufacturing.

The science and technology innovation park will be a service platform with living and business facilities in a Japanese style.

The economic and cultural exchange center aims to strengthen cooperation with Mitsubishi Electric Corporation, with additional plans to set up exhibition halls and research and development centers to attract more Japanese companies.

The Sino-Japan Industrial Park will also be a part of Yantai area of the China (Shandong) Pilot Free Trade Zone, which has attracted more than 20 Japanese enterprises with an actual utilized foreign investment of $600 million.