Sun Chenglie, deputy director of the Yantai marine development and fishery bureau, detailed the progress that has been made in constructing a modern marine ranching industry at a news conference on Jan 6.

The total marine ranching area has exceeded 1.05 million mu (70,000 hectares), and the total value of the marine ranching industrial chain has hit 50 billion yuan ($7.14 billion).

The city built eight provincial-level collaborative innovation centers for marine engineering technology in 2019, bringing the number in the city up to 19, accounting for one-third of the total in the province.

A marine industry investment fund totaling one billion yuan was also set up. It will focus on marine equipment, marine science and technology, and seafood breeding.

In May 2019, the far-reaching intelligent network box, developed by CIMC Raffles, was put into operation, becoming a leading demonstration project in developing China‘s marine ranching industry.

Sun said that Yantai is planning to build four marine ranching belts off the city's western, northern, eastern and southern shores – as it steps up efforts to become a world-class marine ranching demonstration city.

He added that Yantai will also give full play to its resources and regional advantages, and utilize marine ranching to help restore marine ecosystems, boost fish and marine stocks, and protect biological diversity.